Approved Auditors in Hamriyah Free Zone Authority – HFZA
Hamriyah Free Zone was incorporated in 1995 and is located in the coastal city of Sharjah. The Emirate enjoys a unique coastal location that connects it with two gulfs of Arabian and Persian Gulf. It offers convenient access to Oman and all six Emirates in the UAE. It makes the Hamriyah Free Zone one of the key business locations in the UAE.
Hamriyah Free zone is home to industries like Petroleum, steel, petrochemicals, and Building materials. HFZA spans over 26 million square meters that make it the second-largest industrial free zone in the UAE. The HFZA offers unique business opportunities to international and domestic investors. If you are planning to set up a business in HFZA, we have some valuable services on offer to you.
At Aviaan Accounting, we have an extensive range of accounting and auditing services. Our team of professional and experienced auditors can provide invaluable advice for your business growth. The HFZA operates as a designated free zone offering several tax benefits to investors. Our experts can lead you through the accounting and auditing requirements in the Centre and across the UAE.
Types of Licenses at HFZA
You can directly send an application to the HFZA for a company set up. Many companies offering auditing services can guide you through the process as well. Some of the approved auditors in HFZA provide extensive legislative and commercial license services as well.
You can choose to set up any of these license types in HFZA:
- Industrial License
- Commercial License
- Service License
A commercial license offers the most convenient option for small and medium businesses.
You can set up three types of legal entities in the HFZA:
- An FZE, a free zone establishment with only 1 shareholder.
- An FZC, a free zone company with up to 5 shareholders.
- A branch of an international or domestic company.
The HFZA provides extensive free zone benefits. Some key benefits of doing business at the HFZA include:
- 100% foreign ownership of the business.
- Zero corporate and income taxes.
- The industrial hub of oil and gas sector companies.
- HFZA incorporates the largest pool of steel industries in the UAE.
- Easy access to all Emirates in the UAE and other GCC countries.
Free Zone authorities provide several business benefits. At the same time, these authorities require companies to maintain high standards and compliance with local laws. Auditing is one such key requirement that you must adhere to according to the local laws.
Approved Auditors in HFZA
Generally, you can avail of auditing services from any auditor in UAE. Free zone authorities, however, put some special rules on that. All companies registered with HFZA must provide the audited financial statements from approved auditors in HFZA.
The free zone Authority provides an extensive and curated list of approved auditing firms in HFZA. The primary motive behind this conviction is to uphold the high compliance standards throughout the Free Zones.
You are setting up a new business, or opening a branch of your existing company in HFZA, you’ll need a trusted partner for auditing services. Make sure to partner with only one of the approved auditors in HFZA.
Benefits of Partnering with Approved Auditors in HFZA
When you partner with one of the approved auditing firms in HFZA, you are adding value to the free zone’s stature. It remains a critical compliance requirement as well. For public companies, publishing the audited statement is an obligation by law.
The UAE government requires significant compliance from all businesses in accordance with international laws. Hence, partnering with one of the reputable and approved auditors in HFZA will provide you a legal safety net in the UAE.
Some key benefits for your business by partnering with approved auditors in HFZA:
- Compliance with taxation laws as implemented by the FTA in the UAE.
- Compliance with international accounting and financial reporting standards.
- Compliance with tax and accounting laws as required by the HFZA.
- Adding value to your business by fair conduct of business reports to the shareholders.
- Adhering to the special tax laws pertaining to ERS, VAT, and other Tax regulations.
Aviaan Auditing will be your trusted partner for auditing services in DIFC. If you have set up franchises or branches in other parts of UAE also, we can partner with you for professional accounting and auditing services.
What You Need to Provide to the Approved Auditors in HFZA
The auditing process is mainly providing a fair point of view on your conduct of business. Hence, auditing firms in HFZA will require all relevant documents to assess your business’s financial well-being.
Some of the important documents that approved auditing firms in HFZA may ask you:
- Company financial statements including trial balances, PL statements, records of invoices, balance sheet, etc.
- Accounting records.
- Previous audit reports if any.
- Company memorandum of association.
- Registration details for VAT (if applicable).
The comprehensive list of documents will depend on the size and type of your business.
We at Aviaan Auditing are a registered accounting and auditing firm in UAE, Oman, and KSA. We have a team of professionals and experienced auditors that provide the highest quality services to our clients throughout the UAE and in the Middle East region.
With our professional integrity and standards, we are one of the leading and experienced auditing firm in Dubai. You can expect the best auditing services from us with full trust.
For enquiries, call +971 5679 52590 / E-mail: info@aviaanaccounting.com
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