DED Registered Accountant license (RAL) Uae 2024 Full details Updated

Registered Accountant License RAL UAE full details

A full detailed step by step guide on How to apply/get DED registered accoutant License in UAE 2024 with eligibility,documents required,duration,validity,fees,steps and procedures you should know before applying.

A Comprehensive Guide to the UAE’s Registered Accountant License (RAL)

The United Arab Emirates, a dynamic hub for business and finance, beckons accounting professionals with a wealth of opportunities. But to truly unlock your potential in this burgeoning market, you need the coveted Registered Accountant License (RAL). This license empowers you to operate as an independent accountant, offering your expertise to businesses and individuals alike.

So, whether you’re a seasoned accountant seeking new horizons or an aspiring professional eager to make your mark, this article is your roadmap to navigating the process of acquiring your RAL in the UAE.

Who is Eligible to get DED Registered Accountant License (RAL) UAE ? | Eligibility Criteria

Academic Credentials: Hold a university degree in accounting, finance, or a related field from a recognized institution. Master’s degrees add an extra edge.

Professional Experience: Demonstrate at least three years of relevant experience in accounting, auditing, or taxation, depending on your chosen specialization. (Preferably within UAE)

Language Proficiency: Be fluent in both written and spoken Arabic and English. Additional languages add value to your profile.

Good Standing: Possess a clean criminal record and be free from any financial or professional misconduct.

Cost Fees for RAL | Cost

While the specific fees can vary depending on the Emirate and chosen service providers, expect to incur costs for:

Application fees: Typically range between AED 250 and AED 500.

Exam fees: Costs can vary, but anticipate around AED 1,000.

Professional body membership: Joining a recognized accounting association like the UAE Chartered Accountants (UAECA) can be mandatory and involve membership fees.

Total cost : It might range between Aed 3000 -Aed 5000 approx

Documents Required

  • University degree in Accounting, Finance, or a related field
  • Professional accounting qualification : Hold a recognized international accounting qualification like CPA, ACCA, CIMA, or UAE CA.
  • Experience certificates (at least 2-3 years of post-qualification experience in accounting or auditing).
  • Proof of language proficiency (Arabic and English)
  • Good Conduct certificate

Validity /Renewal of RAL in UAE

The Validity of the Registered Accountant License in UAE will be of 2 years and subject to renewal after the period with valid documents.

How to apply Registered Accountant License (RAL) in UAE | steps and procedures to apply Accountant license UAE

Step by step procedures to apply/get Registered Accountant License (RAL) in uae are as follows :

Choose your Emirate in which you are staying and then you need to head to the respective department of economics in that emirates.

Each emirate has its own regulatory body and application choose where you want to practice (e.g., Dubai, Abu Dhabi, Sharjah). For Dubai, head to the Department of Economic Development (DED) website.

Gather your Documents required to obtain RAL license.(listed below)

Gather your Documents: Prepare scanned copies of your educational certificates, experience letters, professional licenses (if applicable), language proficiency certificates, good conduct certificate, medical fitness certificate, and passport.

Complete the Online Application and recheck before submitting

Carefully fill out the form with accurate information and attach your documents.Navigate the relevant licensing authority’s website or utilize authorized service providers to submit your application.

Pay the fees for your RAL application

Pay the Fees: Fees vary slightly depending on the emirate and chosen specialization. Expect to pay around AED 2,000-3,000 for processing and license issuance.

Pass the Qualifying Examination if required by the authority.

 Demonstrate your accounting prowess by successfully completing the exam set by the authority.

Registeration & Attend an Interview (Optional) according to different emirates guidelines.

Prepare for an interview to assess your suitability and finalize the registration process.Some emirates, like Dubai, may require an interview to assess your skills and knowledge. Be prepared to answer questions related to accounting principles, UAE regulations, and professional ethics.

Await Approval

Processing times may vary, but generally take around 4-6 weeks. Once approved, you’ll receive your official Registered Accountant License.

Additional Points to Consider

License Validity and Renewal : Your RAL will be valid for two years and can be renewed upon meeting specific requirements.

Continuing Professional Development (CPD) : Stay updated with the latest accounting practices through approved CPD programs.

Local Sponsorship : Depending on your chosen Emirate and practice setup, you may need local sponsorship for your license.

Professional Associations : Consider joining reputable associations like the Emirates Chartered Accountants Society (ECAS) for networking opportunities and career advancement.

Specializations : Hone your expertise in areas like forensic accounting, corporate finance, or taxation to command higher fees and cater to specific client needs.

Benefits of RAL

Obtaining your RAL in the UAE opens doors to a plethora of opportunities:

High Demand and Attractive Salaries : Qualified accountants are highly sought-after, commanding competitive salaries across diverse industries.

Independent Practice : Establish your own accounting firm and cater to a growing client base.

Career Advancement : Climb the corporate ladder by securing senior accounting positions within established firms.

Diversified Options: Work in public accounting firms, multinational corporations, government agencies, or even set up your own practice.

Professional Prestige: Gain recognition and respect as a trusted financial advisor, contributing to the UAE’s economic prosperity.

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Final Review

The UAE’s Registered Accountant License empowers you to carve a successful career in this dynamic financial landscape. By understanding the eligibility, procedures, and costs involved, you can navigate the process with confidence and expertise.

So, take the first step, gather your resources, and embark on your journey towards becoming a registered accountant in the UAE !

We wish you success in securing your RAL and unlocking the exciting possibilities that await!

Disclaimer: Always verify the latest requirements and regulations with the relevant licensing authority in your chosen Emirate before applying.The given information above is for education purpose only and it may vary. We do not take any responsibilty on that.

Frequently Asked Questions (Faq’s)