Choosing a Business Valuation Firm in Dubai: 9 Checks Before You Sign

By Bill Anderson, FCCA, Chief Executive Officer, Assetica — 2026-09-04

Direct Answer: Choose a business valuation firm in Dubai on nine checks: independence from your auditor and any transaction adviser, a named standard (IVS, RICS Red Book or IFRS 13), a credentialled signatory, a track record with the body that will read the report (GDRFA, FTA, your bank, DIFC or ADGM courts), a fixed written fee, a published turnaround, a sample report, professional indemnity cover and evidence of experience in your sector. A firm that passes all nine will produce a report that survives scrutiny. One that fails the first three will not, whatever it costs.

Search for valuation firms in Dubai and you will find lists. Lists tell you who exists. They do not tell you which firm will produce a report that the GDRFA accepts, the FTA does not challenge, or a DIFC court will admit. That is the question an owner comparing three quotes needs answered, and it is answered by asking the right things before signing, not by reading a ranking.

This guide sets out nine checks. They are the ones we apply to ourselves, and the ones that separate a defensible report from a document with a number on it. Run them against every quote on your desk. The order matters: the first three decide whether the report can be relied on at all, and the rest decide whether the engagement will be painless.

One point before the list. A valuation is only worth what the reader will do with it, so start by knowing who that reader is: an immigration officer, a tax auditor, a bank credit committee, a judge or a buyer. Each check below is framed around that reader.

Business owner comparing quotes from valuation firms in Dubai

1. Is the firm independent of the outcome?

Independence is the single most important test, and the easiest to fail quietly. A firm that audits your accounts, advises on the sale, arranges the finance or earns a fee that moves with the number has a stake in the result. That stake does not need to be dishonest to be fatal. A bank, a court or a tax auditor will ask who else the valuer acts for, and the answer changes how much weight the report carries.

The audit conflict is the common one in the UAE. Many owners assume their auditor is the obvious choice because the auditor already knows the numbers. That familiarity is precisely the problem. Auditing standards restrict the non-audit services an auditor may supply to the same client, and a valuation prepared by the audit firm is open to challenge on that ground alone. The same applies to a broker who is selling the business and offers a valuation as part of the package.

Ask directly: does the firm audit, sell, finance or advise on this business or its shareholders in any other capacity? Is any part of the fee contingent on the value? Independence should be stated in writing in the engagement letter and repeated in the report. Our guide to what independence actually means covers the tests in more detail.

2. Which standard will the report follow?

A valuation report should name the standard it follows on its cover, and the firm should be able to explain why that standard fits your purpose. The three you will meet in Dubai are the International Valuation Standards (IVS), the RICS Valuation Global Standards, known as the Red Book, and IFRS 13, the accounting standard that defines fair value for financial reporting.

They are not interchangeable. IVS governs the valuation process and the content of the report, and is the base for most business valuations. The Red Book adds RICS's own procedural and conduct requirements and is often expected where property or plant forms part of the assets. IFRS 13 is what an auditor looks for when the valuation feeds purchase price allocation, impairment testing or share-based payment accounting.

A firm that cannot name the standard, or that says "international standards" without specifying which, has told you what you need to know. Read our plain-language guide to IVS, RICS and IFRS 13 before the first call so you can ask the question with confidence.

3. Who signs the report?

A valuation is an opinion, and an opinion has an author. Look past the letterhead and ask who will sign, what their qualification is and whether they were involved in the work or only in the signature. Recognised credentials include membership of a chartered accountancy body, RICS membership on the valuation pathway and dedicated business valuation accreditations.

The signatory matters because the reader may need to reach them. A DIFC or ADGM court may require the valuer to give evidence and be cross-examined. A bank credit committee may telephone with a question. The FTA may ask for the working papers behind a related-party figure. If the person who signed cannot answer, or has left the firm, the report loses much of its weight.

Ask whether the signatory will be available for questions after delivery, and at what cost. A firm confident in its work will say yes without hesitation.

4. Has their work been accepted by the body that will read yours?

This is the check most owners skip and most regret. Each reader has its own expectations. The GDRFA and ICP want specific content and certification for a Golden Visa application through the investor or entrepreneur route. The FTA tests a related-party or transfer pricing valuation against arm's length principles under the Corporate Tax Law. Banks want a report that supports a lending decision and complies with their credit policy. DIFC and ADGM courts admit expert evidence under their own procedural rules.

Ask the firm a precise question: in the past twelve months, has a report of yours been accepted by the body I need it for, and what did that body ask for? A firm that has done it will describe the format, the supporting documents and the common reasons for rejection. A firm that has not will speak in generalities.

Do not accept "our reports are widely accepted" as an answer. Ask for the specific body, the specific purpose and the specific format.

5. Is the fee fixed and written down?

A professional valuation should be quoted as a fixed fee for a defined scope, agreed before work starts and set out in an engagement letter. The scope should state the basis of value, the purpose, the standard, the deliverable and the turnaround. Anything outside that scope is a variation, priced separately and agreed in writing.

Two fee structures should make you cautious. A fee expressed as a percentage of the value found gives the valuer an interest in the number, which undermines check one. An open-ended hourly estimate makes the total unknowable and invites scope drift. Neither is standard practice for a report that needs to be defensible.

Fees vary with complexity, purpose and how clean the records are, and a quote far below the others usually means a shorter report or a less qualified signatory. Our guide to what a business valuation costs in Dubai explains what drives the price and what a fair range looks like.

6. What is the turnaround, and what starts the clock?

A firm should publish its turnaround and hold to it. Our standard is five to seven business days from receipt of complete documents, with an expedited service of two to three business days where a deadline demands it. What matters as much as the number is the phrase "complete documents". The clock runs from the day the firm has everything it needs, so ask for the document list before you sign and assemble it in advance.

Be wary of a firm that promises a report in 24 hours for any purpose. A defensible valuation requires analysis of at least three years of financial statements, normalisation of earnings, selection and justification of comparables, and a reconciliation of methods. That takes time. See our guides to how long a valuation takes in the UAE and the documents you will be asked for.

Want the nine answers in writing?

Put the questions in this guide to Assetica and we will answer each one, with the standard, the signatory, the fee and the turnaround set out before you commit.

Ask us the nine questions →

7. Will they show you a sample report?

Ask for a redacted sample prepared for the same purpose as yours. A firm with a body of work will have one. Read it for six things: a clearly stated basis of value (market value, fair value or investment value), a defined valuation date, the methods used and why, the adjustments made to reported earnings, a reconciliation of the results from different methods, and a set of assumptions and limiting conditions a reader can test.

What you are looking for is reasoning. A report that presents a number with a page of boilerplate and no visible working will not survive a challenge, however impressive the binding. A report that shows the comparables, the discount rate build-up and the reasons for every judgement can be defended line by line.

If a firm will not share a sample, even redacted, ask why. Confidentiality is a reasonable concern, but redaction addresses it. Refusal usually means there is nothing worth showing.

8. Do they carry professional indemnity insurance?

Professional indemnity insurance protects you if the valuation is negligent and causes loss. It matters more than most owners realise, because the parties who rely on a valuation, whether a bank, a buyer or a co-shareholder in a dispute, may look to the valuer if the number proves wrong. A firm without cover has nothing behind its signature.

Ask for the certificate, the insurer and the limit of indemnity. Check that the policy covers business valuation specifically, not only accounting or audit work, and that the limit bears some relationship to the values being reported. A firm reluctant to produce the certificate is telling you something.

9. Have they valued businesses in your sector?

Valuation is a general discipline applied to specific businesses, and the specifics matter. A trading company, a clinic, a law firm and a software business are valued with different emphasis, different comparables and different multiples. Published ranges in the UAE market illustrate the spread: trading and food and beverage businesses commonly change hands at three to five times EBITDA, professional services at four to eight times, healthcare at six to ten times, and technology and SaaS at eight to fifteen times. Where a business sits within its range depends on factors a sector specialist recognises quickly and a generalist may miss.

Ask what multiples the firm applied in its last engagement in your sector and where they sourced them. Ask what adjustments are typical for your type of business: owner remuneration in professional services, lease terms in food and beverage, licensing and regulatory dependence in healthcare, revenue recognition in software. A firm that answers with specifics has done the work. One that quotes a single multiple for every business has not.

What to ask on the first call

Take these nine questions into every conversation and write down the answers. Comparing three firms on the same questions is the only fair way to compare the quotes.

Do you audit, sell, finance or advise this business or its shareholders in any other capacity, and is any part of your fee linked to the value?
Which standard will the report follow, and why is that the right one for this purpose?
Who will sign the report, what is their qualification, and will they answer questions from the reader after delivery?
In the past twelve months, has a report of yours been accepted by the body I need this for, and what format did that body require?
Is the fee fixed for a defined scope, and what would count as a variation?
What is the turnaround from complete documents, and what is on the document list?
Can I see a redacted sample report prepared for the same purpose?
What professional indemnity cover do you hold, and does it cover business valuation?
What multiples did you apply in your last engagement in my sector, and where did they come from?

Comparing the quotes on your desk

Once the answers are in front of you, the comparison is straightforward. Discard any firm that fails independence, cannot name a standard or cannot name a signatory. Among the rest, weigh acceptance history and sector experience above price, because a rejected report costs far more than the difference between two quotes. Then choose the firm whose sample report you would be comfortable handing to the toughest reader you can imagine.

Assetica is an independent valuation firm. We do not audit, broker or finance the businesses we value, our reports name the standard and the signatory, and we quote fixed fees with a published turnaround. If you would like to put the nine questions to us, book a scoping call and we will answer each one in writing. Our business valuation service page sets out the scope and the process.

Compare Assetica against the nine checks

Independent, IVS-compliant valuations with a named signatory, fixed fees and a published turnaround. Scoping call, full confidentiality.

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This article is general information, not advice on any specific engagement. Acceptance requirements of government bodies, courts and lenders change, and multiple ranges are indicative figures drawn from common valuation practice rather than guarantees of outcome.

Frequently Asked Questions

How do I choose a business valuation firm in Dubai?

Run nine checks before signing: independence from your auditor and any transaction adviser, a named standard such as IVS or the RICS Red Book, a credentialled signatory, acceptance history with the body that will read the report, a fixed written fee, a published turnaround, a sample report, professional indemnity cover and experience in your sector. The first three decide whether the report can be relied on at all.

Should my auditor prepare my business valuation?

No. Auditing standards restrict the non-audit services an auditor may provide to the same client, and a valuation prepared by the audit firm is open to challenge on independence grounds alone. Banks, courts and the FTA ask who else the valuer acts for, and an independent firm with no other role in the business gives a cleaner answer.

Which valuation standard should a Dubai report follow?

It depends on the purpose. IVS governs the valuation process and report content for most business valuations. The RICS Red Book adds procedural and conduct requirements and is often expected where property or plant forms part of the assets. IFRS 13 defines fair value for financial reporting, including purchase price allocation and impairment testing. The report should name its standard on the cover.

How long does a business valuation take in Dubai?

Assetica delivers a standard business valuation in five to seven business days from receipt of complete documents, with an expedited service of two to three business days where a deadline requires it. The clock starts when the firm has everything it needs, so request the document list before signing and assemble it in advance.

Will a valuation report be accepted by the GDRFA, the FTA or a DIFC court?

Only if it is prepared for that reader. The GDRFA and ICP require specific content and certification for Golden Visa applications, the FTA tests related-party valuations against arm's length principles, and DIFC and ADGM courts admit expert evidence under their own rules. Ask the firm whether a report of theirs was accepted by that body in the past twelve months.

Speak to Assetica about Business Valuation

Assetica is an independent business valuation firm in Dubai. We do not audit and we do not broker deals, so the number carries no conflict. Read more about business valuation, or book a scoping call. Standard reports are issued in five to seven business days.