BMS Consultancy

🎉 Congratulations to all who have filed and completed their UAE Corporate Tax return today!

A proud day for everyone in the UAE tax and business community, the first major filing deadline since the corporate tax regime came into effect on June 1, 2023.

The journey has been full of learning, navigating grey areas, adapting to new rules, and gaining insights that will shape how we approach compliance moving forward. We look forward to more guidance and clarifications from the FTA to make future filings even smoother.

✨ Filing today feels like more than just compliance, it’s a moment of celebration and the start of a new chapter for businesses and professionals in the UAE.

Proud and grateful to be part of this historic first!

📢 Hey all juridical persons in the town – This is your LAST CALL for CT registration!

Yes, you heard it right.

This applies to:
🔹 Companies with nil revenue
🔹 Companies without bank accounts
🔹 Companies with no activity
🔹 Onshore or offshore
🔹 Free Zone or Mainland
🔹 Big or small

🎁 Take advantage of FTA’s generous penalty waiver!

📆 July 1st kicks off the last month to register for Corporate Tax without paying the AED 10,000 penalty.

Don’t miss your chance.
Use that 10k for a summer retreat instead 😎
Not for fines!

📩 Just message us — we’ve got you covered.

🧾 CT Registration
📄 CT Return Submission
✅ All by end of this month!

Stay compliant with your most ProfAssional accountant and tax agent

P.S. this is call for action for companies with first FY Jan-Dec 2024

📢 Corporate Tax Update – UAE

The UAE Ministry of Finance and FTA have launched an amnesty initiative waiving late registration penalties for Corporate Tax.

✅ Eligible if:

You’re subject to Corporate Tax or exempt but required to register.

You register with the FTA and file your first return within 7 months of your tax period end.

You comply fully with the law.

A great opportunity to catch up and stay compliant.

Disclaimer: This post is for general information only and does not constitute legal or tax advice.

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"Opening a bank account should be easy, right?
Just walk into a branch with your ID and done!"
A friend asked me 👆🏻

I wish.

If you’ve ever tried opening a bank account in Dubai, you know it’s more than just showing up with a smile.

But don’t worry—I’ve got you covered.

Let’s break it down.👇

🔥 Why It’s a Big Deal
A bank account isn’t just a formality.

It’s what keeps your finances moving.

But here’s the catch: The process can get tricky.

So let’s avoid the chaos, shall we?

✅ Your Ultimate Checklist (Don’t Skip This!)
If you’re planning to open a bank account, have these ready before stepping into a branch:

✔️ Valid Passport
➝ Must be valid for at least 6 months.
➝ Includes clear copies of all stamped pages.

✔️ Residence Visa
➝ No UAE visa? No bank account. Simple.
➝ Mandatory for opening a UAE bank account.

✔️ Emirates ID
➝ Lost it? Still waiting?
➝ A copy of the application receipt might save the day.

✔️ Trade License (For Business Accounts)
➝ Your business activity must match what’s on the license.
➝ No shortcuts here!

✔️ Memorandum of Association (MOA)
➝ Required for businesses.

✔️ Proof of Address
➝ Banks won’t take your word for it. Provide:
✓ Utility bills
✓ Tenancy contracts
✓ DEWA bills

✔️ CV & Company Profile
➝ Some banks require this to understand your background.

✔️ 6-Month Personal Bank Statements (if applicable)
➝ Helps banks assess your financial standing.

✔️ Company Website (if any)
➝ Not a must, but it strengthens credibility.

⚠️ Hidden Realities (No One Tells You This!)
Even if you have all the documents, be prepared for surprises:

🚨 Bank Interviews
➝ Yes, some banks will ask why you want an account.
➝ Be ready with a solid answer.

🚨 Approval Delays
➝ If anything is missing or unclear, expect weeks of waiting. (Frustrating, I know!)

❌ Common Mistakes to Avoid
Most people make costly mistakes when opening a bank account.
Don’t be one of them.

🚫 Forgetting the minimum balance
➝ Many banks impose heavy penalties if you don’t maintain it.

🚫 Choosing the wrong bank
➝ Not every bank suits your needs.
➝ Do your research before committing!

🎯 Save Yourself the Trouble
We’ve helped countless people fast-track their account openings because we know exactly what banks are looking for.

If you want to skip the stress and do it right the first time, send me a message.

Let’s get this done without unnecessary headaches. 🚀