Approved Auditors In Dubai Internet City
Dubai Internet City
Incorporated in October 1999, Dubai Internet City became a subsidiary of Dubai Holding’s TECOM Investments in October 2000.
The Dubai International Academic City, inaugurated in 2007 as a branch of TECOM Holdings, aims to increase the talented workforce and transform the UAE into a knowledge-based economy. With its 18 million square foot campus and high-level facilities, Dubai International Academic City is the region’s leading choice for higher education. While the Dubai Knowledge Park will accommodate training centers and educational service providers, Academic City is intended to serve as a hub for colleges, universities, and other educational institutions.
Company Formation in Dubai Internet City
- Free Zone Limited Liability Company: Minimum share capital of AED 50000 is required with each minimum share value of AED 1000. Shareholders can be 1 to 50 people or corporations.
- UAE Company’s Branch: a branch opened by a candidate who is a resident in the UAE. There are no requirements for capital.
- Foreign Company’s Branch: An applicant who is a foreigner, not a UAE resident, may establish a branch of a foreign company in the DIC without capitalization requirements.
Benefits Of Forming a Company in Dubai Internet City
- Taxes are exempted- Personal, Income, and Corporate (50-year exemption).
- Full owned
- High-level infrastructure builds on the latest technology
- High-Speeded Data available at a competitive rate.
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Compliance Requirements in Dubai Internet City
Businesses that operate in Dubai Internet City must assess their compliance with rules such as the Economic Substance Regulations (ESR), the Ultimate Beneficial Ownership (UBO), and the Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) regulations (AML-CFT). Penalties for violating these compliance rules will be severe enough to harm a company’s profits and reputation, and in the worst-case license can be canceled. Therefore, top onboard accounting and auditing firms in Dubai Internet City because they are updated with all required rules and regulations, which will enable your business to be compliant hence avoiding any penalties.
Audit Requirements in Dubai Internet City
Auditing isn’t just about evaluating financial statements but also provides recommendations on internal controls, which are the key drivers in achieving business growth. As a result, sign up with those approved auditors in Dubai Internet City because they know how to conduct auditing procedures. Accounting and auditing companies have ACCA and Chartered Accountants teams to carry out the services because they have sufficient knowledge and experience to perform the task.
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