AUDIT SERVICES FOR COMPANIES REGISTERED IN DAFZA
Dubai Airport Free Zone (DAFZA) is one of the leading free trade zones in Dubai, UAE. It was established in the year 1996 with a purpose to attract investment activity in the region.
It is located in the heart of Dubai next to the Dubai Airport. This is one of many independent free zones established in Dubai, UAE. Each free zone is independently governed by a specific authority responsible for all the business operations conducted within the free zone. Most of these free zones offer total exemption from tax along with some other facilities like 100 per cent foreign ownership and no currency restrictions for businesses operating within the free zones. In general, there are very few restrictions imposed on business activities conducted within the free zones and with companies that are based outside the UAE. There are some additional requirements in place for companies doing business outside the free zones but within the UAE.
DIFFERENT TYPES OF COMPANIES IN DAFZA
The following types of companies can set up their businesses in DAFZA:
- Free zone company (FZCO) with minimum one shareholder and maximum of up to 50 shareholders
- Branch office of an existing company
TYPES OF BUSINESS LICENSES IN DAFZA
Companies intending to operate their business activities in DAFZA are required to obtain a Dubai Airport Free Zone business license depending on the nature and type of their business operations. Following are the type of licenses that are available in DAFZA:
- Trading license
- Service license
BENEFITS OF AN EXTERNAL AUDIT IN DAFZA
Some of the key benefits of external audit of DAFZA registered companies are summarized below:
- One of the main benefits of external audit is that It helps companies in renewing their business licenses.
- External audit report provides the management with assurance and comfort that the financial statements are accurate and in accordance with the international accounting standards and international financial reporting standards.
- The financial statements audit also helps the free zone authority by providing them with information as to whether the companies are conducting their business activities within the laws and regulations established by both the free zone authority and the UAE.
- The requirement of external audit in DAFZA also provides banks, Investors and financial institutions with confidence to make investments in businesses operating within DAFZA.
- Employees view the external audit requirement and the audited financial statements as an indicator of secure financial environment in the free zone.
HOW A & A Associate CAN HELP YOU?
A & A Associate is a well reputed audit firm in the UAE. Our auditors are qualified Chartered Accountants and Association Certified Chartered Accountants with extensive auditing experience of SMEs and Corporates operating in diverse industries. During the course of audit we do not only make sure that your books of accounts are accurate and complete, but also highlight internal control weaknesses and concerning areas of financial management which are causing you loses in terms of efficiency and effectiveness.
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