A turnover certificate is a factual statement that certifies the turnover of the entity based on the requirements. The turnover certificate in UAE assures the users the turnover generated by the business entity during a specific period. A turnover certificate is issued by the Certified Auditor. This certificate certifies the total turnover of the applicant’s organization. The turnover can be for 1 or more years depending on the requirements. This turnover is in the name of the organization’s applicant and not that of a group or sister organization.
The contents of the turnover certificate in UAE will depend on the requirements and the purpose for which the turnover certificate is being produced. A basic turnover certificate includes the following information:
- Name and details of the business entity
- Registration details
- Period for which the turnover is stated
- Purpose of the turnover certificate
- Supporting documents for turnover
- Any other information as required.
The process to obtain a turnover certificate in UAE is very simple:
- Submit the documents as per the Checklist
- Documents are verified by the Certified Auditor
- A Draft copy of the turnover certificate is shared
- Once the draft is approved a final certified copy is issued by the Certified Auditor
A turnover certificate is required by anybody willing to get an assurance on the turnover of the entity in speculation. Here are some cases where the turnover certificate might be required.
- For participating in tenders issued by the various companies, local authorities, and also institutes.
- It is also required in the banks and the financial institution for loan purposes.
- Also required by investors to fund an existing or new project/business.
The turnover certificate in UAE is a certificate that provides an assurance certificate to the user about the turnover of a business entity. It is issued by a practicing Certified Auditor who is specializing in issuing the turnover certificate.