By Bill Anderson, FCCA, Chief Executive Officer — Assetica, Dubai, UAE
Definition: Reference data for business valuation in the UAE. The Golden Visa business route requires an independent valuation confirming the applicant's equity is worth at least AED 2 million net of debt. UAE corporate tax is 9% on taxable income above AED 375,000, with 0% up to that figure and 0% for a Qualifying Free Zone Person on qualifying income. Most UAE businesses trade between 3x and 10x normalised EBITDA depending on sector. Assetica delivers standard reports in five to seven business days to RICS and IVS standards.
AED 2,000,000: minimum equity value, net of debt, for the UAE Golden Visa business route. AED 375,000: the UAE corporate tax 0% band. 9%: the corporate tax rate above that band, effective June 2023. 0%: the rate for a Qualifying Free Zone Person on qualifying income. 5%: UAE VAT standard rate.
Retail and F&B typically trade at 3x to 5x normalised EBITDA, and trading and distribution at 3x to 6x. Logistics and transport sit around 4x to 7x where contract cover is strong. Healthcare and pharma reach 6x to 10x on licensing barriers and payor-backed revenue. Technology and SaaS sit at 8x to 15x but are usually priced on recurring revenue quality rather than EBITDA.
Standard valuation report: five to seven business days from complete documentation. Expedited delivery: two to three business days for visa, transaction or filing deadlines. Document collection: one to two days. Free scoping consultation: same day.
Standards: IVS (International Valuation Standards), the RICS Red Book, IFRS 13 for fair value financial reporting, and IDW S1 for German exit-tax work. Authorities that accept independent valuations include the GDRFA and ICP for the UAE Golden Visa, the UAE Federal Tax Authority for corporate tax and transfer pricing, HMRC in the United Kingdom, SARS in South Africa for the exit charge, and the ATO in Australia for CGT event I1.
These are reference ranges. For a figure specific to your business, see Assetica's business valuation in Dubai service, our corporate tax valuation page, or the Golden Visa business valuation service.
What is the minimum business valuation for the UAE Golden Visa?
AED 2 million. The threshold applies to the applicant's own equity in the business, net of debt, not the company's total enterprise value or its revenue. The report must be independent and isolate the applicant's specific shareholding.
What is the UAE corporate tax rate?
9% on taxable income above AED 375,000, effective from June 2023. Taxable income up to AED 375,000 is taxed at 0%. A Qualifying Free Zone Person pays 0% on qualifying income where the conditions are met.
How long does a business valuation take in the UAE?
Assetica typically delivers a standard report in five to seven business days from receipt of complete documentation, with two to three day expedited delivery available for visa, transaction or filing deadlines.
What valuation standards apply in the UAE?
The International Valuation Standards (IVS) and the RICS Red Book are the recognised professional frameworks, with IFRS 13 applying where the purpose is fair value financial reporting. Assetica prepares to RICS and IVS standards.
What EBITDA multiple do UAE businesses sell for?
It varies by sector. Retail and F&B typically trade at 3x to 5x normalised EBITDA; trading and distribution around 3x to 6x; logistics and transport around 4x to 7x; healthcare and pharma 6x to 10x due to licensing barriers and payor-backed revenue; and technology and SaaS 8x to 15x, though SaaS is usually priced on recurring revenue rather than EBITDA.
| Sector | Typical EBITDA multiple | What moves it most |
|---|---|---|
| Technology and SaaS | 8x to 15x | Net revenue retention, more often priced on recurring revenue than EBITDA |
| Financial services and fintech | 6x to 12x | Regulatory standing and recurring fee income |
| Healthcare and pharma | 6x to 10x | Licensing, payor mix and clinician retention |
| Real estate services | 5x to 9x | Managed portfolio quality and recurring management fees |
| Professional services | 4x to 8x | Owner dependence and recurring engagements |
| Manufacturing and industrial | 4x to 7x | Plant and machinery valuation and utilisation |
| Logistics and transport | 4x to 7x | Contracted volumes and fleet ownership |
| Trading and distribution | 3x to 6x | Supplier exclusivity and customer concentration |
| Retail and F&B | 3x to 5x | Site lease terms, margin durability and like-for-like sales trend |
These are starting points, not answers. A defensible valuation normalises earnings first, removing owner remuneration above market, one-off items and related-party dealings, then applies the multiple and adjusts for net debt, working capital and any discount for owner dependence or customer concentration. These ranges are drawn from Assetica’s engagement experience and observed UAE and GCC market activity rather than a published transaction database, which is why they are labelled indicative and why every engagement is analysed on its own evidence. Work out an indicative range for your own business with the free valuation calculator.