The United Arab Emirates involves many free zones which give various benefits and advantages to the forthcoming finance managers and business people. These free zones go about as a springboard for the growing organizations and give different advantages to the organizations. One such Free zone is the Sharjah International Airport Free Zone (SAIF).
Sharjah International Airport Free Zone
Sharjah International Airport Free Zone is otherwise called SAIF Zone is one of the biggest free zones of the relative multitude of free zones accessible in the United Arab Emirates. This free zone was set up in the year 1995 and has never thought back from that point forward. The free zone presently has more than 5,500 organizations that are into different ventures. A portion of these areas is the assembling business, IT industry, Media industry, exchanging industry, and many others.
The significant point of the SAIF free zone is to give every one of the essential benefits to an organization that will be needed by it for uninhibited development. These administrations incorporate brisk and simple business consolidation administrations, accessibility, everything being equal, and sizes of office spaces and distribution centres and to give an all-inclusive resource to getting all licenses and allows
Because of the previously mentioned advantages of setting up an organization in the free zone, a large number of the organizations which are the pioneer in the business have their workplaces here. SAIF Zone additionally gives the organizations advantages like 100% bringing home capital and benefits, 100% unfamiliar proprietorship, and totally free exchange of assets. The point of the foundation of the free zone alongside the various advantages that the free zone gives make it perhaps the most adaptable and dynamic free zone on the planet.
Incentives to the companies in the SAIF zone
The companies who are registered in the SAIF zone can avail all the products.
- Presence of excellent infrastructure
- Sponsorship of visa
- Strategic location
- Foreign ownership
- Quick easy procurement of license and permit
- Exemption of personal and corporate tax
- Lease of the land for 25 years which can be extended for the same time period
- Accommodation for the workers
- All type of currency is allowed
- Repatriation of profits and capitals
These advantages make setting up Companies in SAIF Zone extremely worthwhile and productive proceed onward the piece of an organization, however, the joining of an organization isn’t the outcome. The upkeep of an organization is far harder than simply joining.
Need for examining in SAIF Free zone
SAIF zone is regulated by a free zone authority. There are different principles and guidelines which should be trailed by the organizations, enrolled in the free zone. An organization that doesn’t follow the set guidelines by the authority may need to face the outcomes later on. In SAIF Zone, it is needed by all the enlisted organizations to lead a review of the financial reports of the organization by approved auditors in SAIF Zone.
The fundamental motivation behind this external audit will be to give a guarantee that the organization agrees with the different guidelines as specified by the free zone and the financial reports give a total and genuine image of the current monetary situation of the organization.
The other significant thing that the audit done by a SAIF Zone approved auditor, will do is that it will impart a feeling of trust in the hearts of the investors, both present and potential, that the organization is on the correct way. The diverse monetary reports will give the genuinely necessary clarity to the financial backers so they can settle on the educated choice of whether their venture is appropriately being used.
BSA Auditing & Consultancy offer Audit & Assurance Services in SAIF Zone, that answers to the needs of any business. We serve the statutory needs of clients and report on the financial statements in accordance with the company law, International Financial Reporting Standards, International Standards on Auditing and the applicable laws and regulation in SAIF Zone.
Connect with our team if you are looking for auditors in SAIF Zone, registered auditors in SAIF Zone, and auditors in Sharjah SAIF Zone.
