Audit Firms in Ajman
Ajman is the smallest of the UAE Emirates. It is located in the North of UAE and lies between Sharjah and Umm Al Quwain. It is located on the northern coast of the UAE along with Arabian Gulf.
The Ajman port and Ajman Free Zone are two main contributors to its economy. The GDP of Ajman remains above AED 21 billion for the year 2019. The growing economy and GDP are strong indicators of potential business opportunities in Ajman.
Existing and new companies in Ajman are required to comply with economic and financial regulations. Compliance with auditing and reporting is one of the key requirements for companies in Ajman. Registered auditing firms in Ajman are eligible for providing accounting and auditing services. External auditing remains a critical requirement for businesses in the UAE.
We provide services for your business in:
- Accounting and Bookkeeping Services
- Internal Auditing and External Auditing Services
- Financial Analysis Reports
- Payroll Outsourcing
- Filing of VAT Returns & Collection
Benefits of Doing Business in Ajman
Department of Economic Development (DED) is the promoter and enabler of the economic activities in Ajman. One of the key advantages of doing business in Ajman is to become part of the fastest-growing economy. The Ajman GDP was around AED 15 billion in 2013, which has grown to over AED 21 billion in 2019.
Ajman Free Zone Authority has been working for business promotion for the last many years now. You can register a company in the Ajman Free Zone or as a Mainland company.
The department of economic development (DED) offers an extensive range of business promotion and facilities for companies. Ajman is renowned for low-cost business operational costs. The establishment of the Ajman Free Zone Authority further reduces the cost of the business in Ajman.
Some key advantages of doing business in Ajman:
- Choice of Mainland or Free Zone Entity establishment
- 100% ownership, 0% corporate taxes, and VAT exemptions (for Free Zone companies)
- Low cost of the business in Ajman
- Specialized and promoted services by DED in industry, tourism, transport and logistics, outsourcing, and the media industry
- One of the fastest-growing economies in the UAE
- Facilities for Import – Export
Approved Auditors in Ajman
All audit firms in Ajman are authorized to conduct the auditing services for companies in Ajman. External auditing reports are a key requirement for all companies registered in the UAE. For free zone companies, only approved auditors in Ajman can provide auditing services.
Currently, the UAE government does not imply corporate taxation on businesses. However, all businesses must adhere to the VAT and customs tax regulations. The requirement for mainland companies from audit firms in Ajman is not regulatory compliance. However, all companies registered with Ajman Free Zone Authority AFZA require compliance for financial statements from one of the approved auditing firms in Ajman.
Most of the free zone authorities throughout the UAE require companies to provide audited financial statements. These auditing services must be obtained from approved auditors in Ajman, Dubai, Abu Dhabi, etc.
An experienced and professional auditor like Aviaan can take you through the auditing process with integrity and unmatched services.
Why Partner with Audit Firms in Ajman
Small and medium-sized companies often do not think of external auditing as a regulatory requirement. The commercial companies’ law in the UAE, makes it clear for all companies to maintain financial records for at least five years. The audit firms in Ajman and other Emirates will then provide a financial audit report. The submission of the auditing report to authorities is not mandatory though.
Most of the free zone authorities require companies to provide audited financial statements. These reports can only be provided by the approved auditors in Ajman and other relevant free zone authorities. With the passage of time, more free zone authorities are making it compulsory to provide financial statements certificates from one of the approved auditing firms.
Documents Required by Audit Firms in Ajman
Audit Firms in Ajman will make sure that your business financial statements comply with the UAE Commercial Companies Laws. Professional and registered auditing firms in Ajman will provide a transparent and fair point of view on your financial records. The reports are titled towards the company Board of directors.
Only approved auditors in Ajman can provide the auditing services for companies registered in AFZA. The mainland companies can hire any of the registered auditing firms in Ajman or the UAE though.
External auditors in Ajman would require the following documents from you:
- Accounting and Bookkeeping records
- Bank Statements
- Memorandum of Association
- Company registration details with FTA
- Maintained records of invoices and bills
- Relevant financial statements to be audited
The external auditors will title the report for the company board of directors. The actual list of requirements may vary by the nature and size of the company trade.
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.
Aviaan Auditing will be your trusted partner for auditing services in Ajman. If you have set up franchises or branches in other parts of UAE, we can partner with you for professional accounting and auditing services.
For enquiries, call +971 5679 52590 / E-mail: email@example.com