Dubai is one of the best locations in the Middle East region for doing business. The major reason for that, the govt. of the country is supporting the investors with wholeheartedly. The business-friendly nation provides the businessmen of all the facilities with the best infrastructural amenities. Dubai World Central is one of the emerging free zones in the region. Auditors in the UAE can concentrate more on Dubai World Central. Recently Dubai World Central is renamed as Dubai South. Dubai South is one of the visions of the great leader His Highness Sheikh Mohammed Bin Rashid Al Maktoum. The visionary leader aiming to create a City in which creative and empowered people to live, work and invest. It is becoming the central hub in the global economy.
Audit requirements in Dubai World Central (Dubai South)
The fastest growing free zone in Dubai requires all the registered companies to furnish an Audit report by a Dubai Licensed auditor while renewing the trade license. The Auditors in Dubai can play their role by supporting the clients for preparing the audit report. Dubai South is the prime location which is surrounded by Jebel Ali Port and Al Maktoum International Airport, which enables the companies to easily transit the goods from one location to another very easily. A lot of developments are going on the surroundings of Dubai South since this area is the location selected for hosting Expo20-20 after five years. As per the free zone regulations, once the company is registered, the standard financial reporting period is one calendar year. But a company may nominate a different reporting period in the first financial year, which starts from the date of incorporation but should not be less than six months and not more than eighteen months. Before appointing an audit firm for audit requirements, the free zone authority insists the companies ensure the firm is licensed auditor in Dubai.
Advantages of setting up a company in Dubai South Dubai South free zone or DWC
offers all the benefits like other free zones, but the highlighting point is the importance of the location. It is situated exactly next to the biggest Airport Terminal in the region and the biggest seaport, which will help the businessmen to move their goods from one location to another easily.
- 100% of foreign business ownership
- Zero personal and corporate tax rate
- 100% capital repatriation and no currency restrictions
- One or more shareholders
- Unique industry clustering and purpose-built infrastructure
Since the location gives more benefits to the investors, the number of foreigners setting up a new business in Dubai South or DWC is increased. Emirates Chartered Accountants Group with its Audit division United Auditing extent their services to the business people in Dubai South by providing guidance for Setting up a new business and to furnish the annual financial reports in time to the authority. For more information email your requirements to accounts@emiratesca.com we are more than happy to assist you.
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