The Federal Tax Authority (FTA) has announced that businesses must complete Corporate Tax registration within 90 days from the Date of Incorporation / MOA.
A net worth certificate is an official document that states a person’s or entity’s total net worth on a specific date. In the UAE, individuals may need this certificate for visa applications, loan approvals, investment opportunities, and other important financial activities. This blog explains the exact steps you can follow to apply for a Net Worth Certificate as an individual.
What is a Net Worth Certificate for an Individual?
A Net Worth Certificate is a certified financial document issued by a licensed chartered accountant or auditor approved in the UAE. It lists all your assets - such as bank balances, property, vehicles, gold, and investments - and liabilities like loans and credit card debts to calculate your total net worth. This certificate is commonly requested by UAE banks, consulates, and financial institutions as proof of your financial strength.
Net Worth = Total Assets − Total Liabilities
Who Needs a Net Worth Certificate in the UAE?
The following is the list of persons requiring a net worth certificate in the UAE.
- Individuals applying for investment visas or immigration
- Those seeking bank loans or financial approvals
- People involved in high-value business transactions
- Students or parents proving financial stability for overseas education
- Anyone needing to declare assets or prove financial health for legal or investment purposes
Eligibility & Basic Requirements for an Individual Net Worth Certificate
To apply, an individual must have verifiable financial documents. Key assets that need to be shown include:
- Bank balances in the UAE and abroad
- Investments in shares, bonds, and deposits
- Owned property documents
- Vehicles owned
- Gold and jewellery valuations
- Any business ownership shares
If you have liabilities such as mortgages, credit card debts, or personal loans, these must also be declared.
Documents Required for a Net Worth Certificate for an Individual
- Emirates ID and passport copy.
- Bank statements for the past 6 to 12 months.
- Property ownership documents.
- Proof of investments such as shares, deposits, and bonds.
- Loan and credit card statements.
- Asset valuation reports, if applicable.
How to Apply for a Net Worth Certificate? Step-by-Step Process
Step 1: Shortlist an Approved Auditor in the UAE
Choose a licensed audit firm recognised by the UAE authorities. Reyson Badger is a top choice for their experience, accuracy, and efficient service.
Step 2: Submit All Supporting Documents
Provide all required financial, asset, and identity documents. The auditor may ask for additional records if needed to verify your financial profile.
Step 3: Asset & Liability Verification
The auditor reviews your bank data, property values, investments, and liabilities. They may conduct market-based valuations for real estate or other assets.
Step 4: Calculation of Total Net Worth
The auditor prepares a detailed calculation sheet summarising your assets, liabilities, and net worth. You review and confirm that the figures are correct.
Step 5: Issuance of the Net Worth Certificate
The auditor issues the final certificate on official letterhead, signed and sealed, with clear valuation details. Certificates can be delivered as PDFs, physical copies, or both.
Processing Time & Cost of Net Worth Certificate
The process usually takes 1 to 3 working days, depending on document completeness and asset complexity. Costs typically range from AED 300 to AED 1500 or more based on the auditor chosen and valuation needs.
Benefits of Getting a Net Worth Certificate
The following are the major benefits of getting a net worth certificate in UAE
- Makes visa applications and loan approvals smoother
- Builds credibility in investment and immigration processes
- Provides legally verified proof of your financial strength
Conclusion
Getting a certified Net Worth Certificate is important for proving your financial health in many situations in the UAE. For a fast, accurate, and compliant certificate, consult a reliable licensed auditor like Reyson Badger, who can guide you through the process with professional expertise.