Elysian Consulting Group: Frequently Asked Questions (FAQ)

General Questions

What services does Elysian Consulting Group offer?

We offer a comprehensive suite of corporate advisory services designed to support businesses in the UAE, including:

• Corporate Tax Compliance: Keeping your business aligned with the latest regulations.
• VAT Advisory: Expert guidance on VAT registration, filing, and planning.
• Audit & Assurance Services: Independent verification to ensure financial transparency.
• Accounting Services: Professional bookkeeping and financial reporting.
• E-Invoicing Solutions: Staying ahead of modern digital billing requirements.
• UAE Company Formation: Seamless business setup across Mainland and Free Zones.
• Strategic Business Consulting: Custom corporate advisory to drive sustainable growth.

Who can benefit from Elysian Consulting services?

Our services are tailored for businesses of all sizes operating in the UAE. We support:

• Startups & SMEs establishing their footprint.
• Large Corporations managing complex tax and audit requirements.
• International Investors navigating the UAE business ecosystem.

Where is Elysian Consulting Group located?

Our primary office is centrally located in Dubai:

Address: Burjuman Business Tower, Office No: 003, S2, Burjuman, Khalid Bin Al Waleed Rd, Al Mankhool, Dubai, UAE.

We proudly serve clients across all Emirates and major UAE Free Zones.

UAE Corporate Tax

What is UAE Corporate Tax, and does it apply to my business?

The UAE imposes a federal Corporate Tax at a standard rate of 9% on taxable business income exceeding AED 375,000.

• Applicability: It applies to all businesses conducting commercial activities within the UAE.
• Small Business Relief: Qualifying small businesses with annual revenue below AED 3 million may benefit from relief provisions.

When did UAE Corporate Tax come into effect?

Corporate Tax became effective for financial years starting on or after 1 June 2023. For businesses operating on a standard calendar year (beginning 1 January), compliance officially began on 1 January 2024.

How can Elysian help with Corporate Tax compliance?

Our qualified tax consultants simplify the entire process by:

• Assessing your corporate structure and determining tax obligations.
• Managing your Corporate Tax registration with the Federal Tax Authority (FTA).
• Preparing and filing accurate Corporate Tax returns.
• Providing ongoing advisory to legally minimize liabilities.

Value Added Tax (VAT)

Is my business required to register for VAT in the UAE?

VAT registration depends on your annual taxable turnover:

• Mandatory Registration: Required if taxable supplies and imports exceed AED 375,000 per annum.
• Voluntary Registration: Available if supplies and expenses exceed AED 187,500 per annum.

What VAT services does Elysian offer?

We provide end-to-end VAT support to keep your business fully compliant:

• VAT Registration and Deregistration.
• VAT Return Preparation and Submission.
• FTA Audit Support and Dispute Resolution.
• Comprehensive VAT Health Checks and Planning.

UAE Company Formation

What types of business structures can Elysian help me set up?

We guide you through the entire company setup process, including license selection and corporate bank account opening, for:

• Mainland Companies (LLCs, Sole Establishments).
• Free Zone Companies (across all major UAE Free Zones).
• Offshore Companies (for international asset protection).

How long does it take to set up a company in the UAE?

Timelines depend heavily on the chosen jurisdiction and business structure:

• Free Zone Setups: Can be completed in as little as 3 to 5 business days for many zones.
• Mainland Companies: Typically take 1 to 3 weeks to fully finalize.

Audit and Assurance

Is an annual financial audit mandatory for my UAE business?

While not mandatory for every business, an annual audit is legally required for:

• Companies registered under specific UAE Free Zone authorities.
• Banks, financial institutions, and insurance companies.
• Businesses that exceed specific revenue thresholds mandated by local authorities.

Contact & Engagement

How do I get started with Elysian Consulting?

Getting in touch is easy. Contact our advisory team through any of the following channels:

• Phone: +971 54 243 9656
• Email: info@elysianuae.com
• Web: Drop us a message via our website’s Contact Us page.

What are your working hours?

Our team is available to assist you during the following hours:

• Monday to Saturday: 9:00 AM to 6:00 PM (GST)
• Inquiries sent via our website form outside these hours will be addressed on the very next business day.

Pricing & Additional Questions

How much does an audit cost for a small business in Dubai?

Audit fees in the UAE vary based on company size, industry, and transaction volume. Small and medium-sized businesses typically pay a modest annual fee for a statutory audit, while larger or more complex entities pay more due to additional reporting and assurance work. Elysian provides a transparent quote after reviewing your financial records and free zone requirements, so there are no hidden costs.

What documents are needed for VAT registration in the UAE?

Typically you will need your trade license, Emirates ID and passport copies of owners/managers, memorandum of association, bank account details, and financial records showing turnover. Elysian reviews your documents in advance and manages the full submission with the Federal Tax Authority, so approval is faster and free of errors.

Which UAE free zones does Elysian work with?

Elysian is an official partner to a wide network of UAE free zones, supporting company formation, licensing, renewals, and compliance across Dubai, Abu Dhabi, Sharjah, and other Emirates. Whether you are setting up in a mainland jurisdiction or a specific free zone, our advisors help you choose the right structure for your business activity and long-term goals.