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 a simple report that shows how much you are worth financially: what you own (assets) minus what you owe (loans and other dues). Banks, embassies, investors, and UAE authorities ask for it to check if you are financially stable before giving a loan, visa, or approving a business or tender. It is always issued and signed by a qualified chartered accountant (CA), not by the individual or company themselves.
What is It and Who Needs It?
It is a CA‑signed document that lists your assets (cash, property, investments, etc.) and your liabilities (loans, credit cards, mortgages) and shows your net worth on a particular date.
People who usually need it:
- Individuals applying for foreign or long‑term visas.
- Entrepreneurs and business owners setting up or growing companies.
- Companies applying for bank loans or government tenders.
- Investors and high‑net‑worth individuals.
- Anyone who must prove wealth for legal, settlement, or family reasons.
How is Net Worth Calculated?
Net worth is calculated using a simple formula
Net Worth = Total Assets – Total Liabilities
Assets include:
- Bank balances, fixed deposits.
- Properties (UAE and abroad).
- Vehicles.
- Gold and jewellery.
- Investments (shares, mutual funds, etc., and sometimes crypto if clearly documented).
- Business shares or ownership.
Liabilities include:
- Personal loans.
- Home or other mortgages.
- Credit card dues.
- Business loans and other debts.
Steps to Get a Net Worth Certificate in the UAE
The following are the detailed steps in getting a UAE net worth certificate.
1. Choose a licensed CA firm
Pick a recognised CA/audit firm in the UAE so that banks and embassies will accept the certificate.
2. Submit your documents
Give clear and correct documents: ID, bank statements, property papers, investment proofs, and all loan details.
3. Verification by the Chartered Accountant
The CA checks your documents, may ask questions, and may use property valuations or market values where needed.
4. Net worth calculation and draft
The CA prepares a draft list of your assets, liabilities, and net worth and shares it with you to confirm names, figures, and purpose.
5. Final signed certificate
After your confirmation, the CA issues the final certificate on letterhead with stamp and signature, usually as a PDF and, if needed, a paper copy.
Individuals vs Companies: Timing and Focus
Individuals:
- Provide passport/Emirates ID , bank statements, investment proofs, property documents, and loan statements.
- If everything is ready, many CAs can finish it in about 24 - 48 hours.
Companies:
- Provide trade licence, audited financials or management accounts, bank and loan statements, and asset details.
- Because checking accounts and business data take longer, it usually takes about 2–5 working days.
Common Mistakes to Avoid While Applying for a Net Worth Certificate
Please bear in mind to keep away from these mistakes while applying for a net worth certificate.
- Sending incomplete or old bank/property documents.
- Not updating property values when they are very out of date.
- Hiding or forgetting liabilities like loans or credit cards.
- Sharing investment screenshots without proper statements or proofs.
Why Work with a Professional CA Firm?
Using an experienced CA firm makes the process quick and reduces the chances of rejection by banks, embassies, or investors because the format and numbers are clear and can be trusted. A specialist CA (for example, a practitioner like Reyson Badger who regularly handles net worth and certification work) can guide you on exactly what to show, how to value assets, and how to tailor the certificate for your specific purpose, such as a visa, a loan, or a tender.
FAQs
- How do I get a certificate of net worth?
You can obtain a net worth certificate through a certified chartered accountant or an audit firm. The process typically involves submitting financial documents such as bank statements, property ownership records, investment portfolios, and liabilities. The auditor verifies these and issues a formal certificate.
- How do I prove my net worth?
Net worth is proven by calculating the total value of your assets minus your liabilities. Supporting documents include:
- Bank statements
- Property deeds
- Vehicle ownership papers
- Investment account summaries
- Loan or liability statements
- What is the cost of a net worth certificate?
Costs vary depending on the complexity of your financial profile and the audit firm’s pricing. In the UAE, fees typically range from AED 300 to AED 1,000 for individuals, and higher for businesses or high-net-worth individuals.
- What is the net worth certificate in Dubai?
In Dubai, a net worth certificate is often required for visa applications, business setup, loan approvals, or investment migration. It must be issued by a UAE-registered audit firm and may need to be attested by relevant authorities depending on its use.