Audit in Free zones

The UAE Governments in different emirates offer investors more than forty multidisciplinary free trade zones in which foreign investors can fully own companies. These zones provide world-class infrastructure and specific services that facilitate smooth workflows, saving businesses considerable time and effort.

Free zones are geographically demarcated areas in the United Arab Emirates, allowing 100% foreign ownership and are primarily dedicated to a specific industry. They are designed to support vital business transformation in key industry sectors. Most of the Free Trade Zones in UAE require the respective entities to file the annual audited financial statements within three to six months from the end of the financial year.

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HLB HAMT - Accounting Firm in UAE

Phone:- +971 4 327 7775
Mobile:- +971 50 749 0576
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com

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    The Free Trade Zone Authority accepts financial statement of Free Zone entities that have been audited by approved Audit Firms.

    HLB HAMT is an approved audit firm in all the Free Trade Zones in UAE, and our clients have a hassle-free submission with the free zone authorities.

    The following are general requirements across all Free Trade Zones related to the business, books of accounts and financial statements:

    • Independently Audited financial statements are to be filed within the stipulated time (90 to 120 days, depending on different Free Zones) from the end of the financial year.
    • It needs to Comply with the minimum capital adequacy requirement. (Each Free Trade Zone has a different threshold and reporting requirements).
    • Only conduct the licensed commercial activities by the respective Free Zones
    • Maintaining a proper register of imports and exports of goods matches the customs records. Also, these records need to be compared with the customs codes.
    • Submission of Financial Statements Summary attested by a Free Trade Zone approved auditor.

    Our clients in Free Trade Zones include entities in Manufacturing, Petrochemicals, Logistics, Food & Agricultural Commodities, Retail & E-commerce, especially in Jebal Ali Free Zone (JAFZA), Sharjah Airport Free Zone (SAIF), Dubai Airport Free Zone (DAFZA) and Dubai Multi Commodities Center (DMCC).

    We are an approved audit firm in Dubai International Financial Center (DIFC) and Abu Dhabi Global Markets (ADGM) to audit private equity funds, non-regulated entities and non-profit organizations.

    For further details about Free zones, please visit

     

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