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AJMAN Free Zone Approved Auditors

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    AJMAN Approved Auditors

    AJMAN FZ Approved Auditors in Dubai

    Ajman Free Zone (AFZ) is one of the oldest and well-known Free Zones located in the United Arab Emirates (UAE). AFZ was established in 1988 and is situated near the entry point to the Arabian Gulf as a strategic economic hub within the Emirate of Ajman. It attracts foreign businesses and investors searching to find tax-free destinations for their business operations.

    The AFZ allows companies that are registered within the Free Zone with easy access to both the western and eastern markets. The Free Zone also gives accessibility to ports such as Ajman which is used by more than a thousand vessels every year. It means AFZ registered companies can have quick access to four ports as well as two international airports. Ajman Free Zone has also extended its reach into the e-commerce sector by negotiating a deal to the Ajman Free Zone between noon to deliver licensing services for companies that are launching e-commerce.

    audit.ae is one of audit.ae is one of AJMAN FZ Approved Auditors, offering Ajman Free Zone Audit Services to various customers. Auditors at audit.ae include Certified Public Accountants, ACCA, CPA, and thanks to our expertise and experience in auditing, we are able carry out audits and complete them efficiently within the timeframe.

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    AJMAN Approved Auditors

    Benefits of Operating in AJMAN FZ

    Companies (including other organizations) that are in AFZ benefit from the following advantages:

    1

    100% foreign ownership

    2

    100% ownership of establishment/company

    3

    Cost-effective and affordable

    4

    Transfer of profits easily and capital

    5

    Exemption from import and export duty

    6

    Exemption from tax on personal income

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    Tax exemption from the other tax

    8

    Power prices that are competitive in the marketplace

    9

    Competitive prices in the market for facility use

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    Leasing at competitive rates in the market

    11

    An infrastructure that is well-developed

    12

    Labor at a low cost

    13

    Easy and fast procedures and most of the time, you can obtain the license within 24 hours.

    AJMAN Approved Auditors

    Types of Businesses in AJMAN FZ

    Business entities of all kinds that can be created or opened in AFZ are in the following order:

    Ajman Free Zone (AFZ) offers a broad range of licenses for businesses and can support a wide range of industries. Here are some examples of businesses that may be created within AFZ:

    1. Offshore Companies Offshore Companies: These are businesses that operate with a minimal or no volume of business within the jurisdiction at the time of incorporation.
    2. Trade Companies: AFZ provides licenses to companies that engage in trading that range from trading single activity up to trading in general.
    3. Consulting & Consulting Services: Companies offering competent assistance and advice can be established in AFZ.
    4. Holding Company: These are businesses who own assets but do not operate or activities, or any other businesses that are in operation.
    5. Investments or Joint Investments Companies: AFZ issues licenses to companies that are involved in investment activities.
    6. Property Ownership Companies: Businesses who own, purchase, rent, sell or manage real estate properties may begin their operations in AFZ.
    7. Motor Vehicles Industry: AFZ is home to 96 companies that are involved in the development, design manufacturing, marketing and sale of motor vehicles.
    8. E-Commerce companies: AFZ offers licenses for companies that sell products or services on the internet.

    It's crucial to note that AFZ allows more than 4000 business operations, so this list is just the beginning of an iceberg. Based on your model of business and the industry you operate in, you'll be able to discover the appropriate business category within the Ajman Free Zone.

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    AJMAN Approved Auditors

    Types of Business License In AJMAN FZ

    Ajman Free Zone (AFZ) offers a range of business licenses that cater to a variety of industries. Here are a few kinds of companies that can be set up within AFZ:

    1. Freezone Establishment (FZE): Businesses that have the licenses under this category have the status of an independent corporate entity.
    2. Import/Trade and Trading: AFZ is well-known for its trading operations, which include firms that deal in a variety of products like electronic devices.
    3. E-commerce businesses: AFZ offers licenses for companies that sell products or services on the internet.
    4. Professional Service: AFZ offers a range of different skillful services, such as engineering, legal, consulting and many more.
    5. Industries: Businesses that are involved in industrial or manufacturing can also start their business in AFZ.
    6. Commercial Businesses: These are businesses that wish to carry out commercial activities within the free zone.

    The AFZ Authority has set business-friendly regulations for businesses which makes starting a business within the Ajman Free Zone easy and efficient. It permits investors to set up businesses and trade with foreign ownership, and without taxation.

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    AJMAN Approved Auditors

    Required Documents/Information for Audit

    The required documents and data for an audit will vary depending on what is required by the company and the kind of audit. But, here’s an overview of the documents typically required during an audit of financials:

    1. Accounting Statements: This comprises balance sheets and income statements, as well as cash flow statements, as well as shareholder equity statements for the audit period.
    2. General Ledger: A comprehensive document for all transactions in the financial sector during the entire life span of the company.
    3. Bank Statements: A copy of the bank statements from the time under audit.
    4. Credit Card and Accounts Payable Ledgers: Comprehensive record of outstanding bills (receivables) and bills that are not paid (payables).
    5. Tax Returns: Copies of federal local, and state tax returns.
    6. Inventory Records: Comprehensive documents of inventory, which include sales and purchase receipts.
    7. Payroll Record: Records that document the total cost of payroll, which includes the cost of wages, benefits and taxes.
    8. Fixed Assets: Register that lists the of the fixed assets that belong to the business as well as their purchase prices, and the amount of depreciation accumulated.
    9. Minutes from Board Meetings: Minutes of sessions of board meetings or shareholders.
    10. The Loan Contract: A copy of all loans, leases or other arrangements for financing.
    11. The Contracts and the Agreements section contains copies of the most important agreements with suppliers, customers or partners.
    12. Internal Control: Procedures Documentation of the company’s internal procedures for controlling.
    13. Insurance Policies: Copies of the firm’s insurance policies. 

    AJMAN Approved Auditors

    Why Ajman Free Zone Company Need Financial Audit Services?

    Ajman Free Zone (AFZ) certified companies need financial audit services due to various reasons.

    1. Conformity with the Regulations: According to the rules and regulations of the AFZ every company is obliged to submit their verified financial records to the authority of the free zone. Audits ensure that the financial statements of the company conform to accounting standards and rules established by the AFZ Authority.
    2. Audits: A financial audit is a clear, precise, and transparent view of the financial health of a business. This is vital for stakeholders, investors and free zone authorities because it provides assurance that the business is legally operating and its financial statements are accurate.
    3. Identification and mitigation of risks: Through an audit, possible financial risks are identified and steps can be suggested to reduce their impact. This helps improve the overall financial management of a company and aids in the growth of the business.
    4. Ensure that your business practices are good Audits on a regular basis assure that businesses adhere to good methods. They benefit from identifying any anomalies or discrepancies which allows businesses to resolve possible issues quickly.
    5. Investor Confidence: for potential investors, a clear audit report can boost confidence in the company and makes it more attractive to invest in.

    So, financial audits aren't just a legal obligation but also an instrument to assure the efficiency and expansion of businesses within the Ajman Free Zone.

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    AJMAN Approved Auditors

    Choose Best AJMAN FZ Approved Auditors in Dubai, UAE

    Audit services play an important part in ensuring the credibility and integrity of companies within their operations in the Ajman Free Zone. Through partnering through AJMAN FZ approved auditors, firms can assure transparency in their finances as well as compliance with the regulations and a smooth functioning of their financial management procedures. audit.ae are among the desirable audit companies in Dubai which provide the services of auditing and accounting. As Ajman free zone certified auditors We will handle every business issue and prepare the most hassle-free experience for our clients. Our auditors will assure that your business is in compliance with the regulations and rules that apply to the zone.

    audit.ae offers a broad range of auditing services, which include:

    1. Statutory Audit
    2. Internal Audit
    3. External Audit
    4. Due Diligence Audit
    5. Forensic Audit
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    AJMAN Approved Auditors

    Frequently Asked Questions

    Answers to your most common queries, conveniently compiled in one place.

    Are all auditing firms in AJMAN Freezone approved?

    Only auditors who have been approved through the AJMAN Freezone Authority can conduct audits of businesses within the Freezone.

    Auditors who are approved have an in-depth understanding about Freezone regulations, and are able to ensure that they are in compliance with the regulations and prepare accurate financial reporting.

    Check for the latest information on AJMAN Freezone Authority website for the list of auditors who are approved.

    Certain auditors could favor consultation services in relation to compliance and financial management along with auditing.