Audit Services in Abu Dhabi Airports Free Zone
Abu Dhabi Airports Free Zone (ADAFZ) is a subsidiary of Abu Dhabi Airports. It operates Airport’s Free Zones, business centers, business parks as well as a logistic park, and one stop shop services. ADAFZ offers an ever expanding business platform that provides the perfect business environment for you to successfully operate your business operations.
As per a resolution passed by the Abu Dhabi Executive Council, ADAFZ was mandated to establish Free Zones and provide all services required for operating successful businesses at:
- Abu Dhabi International Airport
- Al Bateen Executive Jet Airport
- Al Ain International Airport
ADAFZ jurisdiction spreads across area of more than 10.6 Km² around Abu Dhabi International Airport covering the following commercial districts:
- Business park
- Logistics park
- Al Falah Free Zone
- Destination Village
- Airport City
Benefits of Operating within the ADAFZ
Business entities registered in ADAFZ enjoy the following benefits:
- No corporate tax
- No import or export duties
- No currency restrictions
- 100 per cent repatriation of capital and profits
- 100 per cent foreign ownership
- Efficient cargo clearance services
- A one-stop-shop solution for all investor-related services
- Access to international freight forwarders and logistics services
- 24 hours access to facility
- Online customer service
Types of Business Entities in ADAFZ
Types of businesses that can be established in ADAFZ are as follows:
- Free Zone Limited Liability Company (FZ-LLC) – Natural/ Individual
- Free Zone Limited Liability Company (FZ-LLC) – Corporate
- Branch of an existing local or foreign company
Types of Business License
Business entities that want to register and conduct operations in ADAFZ are first required to obtain a license issued by the relevant Authority. Types of license available in ADAFZ are as follows:
- Service License
- Trade License
- Industrial License
- Retail License
- E-commerce License
- Professional License
- General License
Why Businesses Registered in ADAFZ should get their Financials Audited?
Businesses registered in ADAFZ should get their accounts audited by an audit firm in Abu Dhabi for the following reasons:
- An audit report provides all the stakeholders of an entity with all the information they consider necessary and important to ensure that the entity is complying with all the applicable rules and regulations.
- A statutory audit provides reasonable assurance to the entity’s shareholders as well as other stakeholders that financial statements have been prepared in accordance with the requirements of all the applicable accounting standards.
- An external audit report provides assurance to the entity’s shareholders that its accounts are complete and accurate and that no information/ detail has been concealed by the entity.
- An audit report also provides an entity’s shareholder and other stakeholders with assurance that information presented in its financial statements can be depended upon when making important business decisions.
Documents Needed for an External Audit
We at Arqaam Global Chartered Accountants require the following documents for carrying out statutory external audits of business entities operating in ADAFZ:
- General Ledgers
- Trial Balance
- Profit and Loss Statements
- Balance Sheet
- Details of closing stock
- Details pertaining to fixed asset disposals and additions
- Bank Statements
- Audit schedules (depreciation, bad debt provisions, accruals)
- Registration Details for Excise Tax and VAT
- Copies of invoices and bills
- Memorandum of Association and Articles of Association
Why Choose Arqaam Global Chartered Accountants to Audit your Accounts?
Arqaam Global Chartered Accountants is a well-known audit firm in UAE as well as the rest of the world. We have highly experienced and qualified audit professionals to carry out external audit of your accounts and operations. We deliver high quality services at affordable prices.
Our aim is to provide our clients with services that not only helps them in maximizing efficiency and effectiveness of their business operations but also helps them in identifying as well as recommending solutions to resolve those issues that are stopping them from realizing their true potential.
Apart from providing external audit services, we also provide the below mentioned services:
- Bookkeeping services
- Internal audit services
- Legal consultancy
- Tax Consultancy including VAT accounting services
- Company registration and incorporation services
If you want a reputed audit firm in UAE that is known for providing high quality audit services to audit your books then pick up your phone and contact us today!
