Jebel Ali Free Zone (Jafza) is the flagship free zone of DP World, and is an integral part of the DP World UAE Region’s integrated business hub. The Free Zone has evolved into a trade catalyst that is home to more than 8,000 companies from 140 countries, including Fortune-500 firms and a smart business community that offers unprecedented growth opportunities and market access.
JAFZA is the first free zone in the world to win ISO certification in 1996. Some of the companies situated in JAFZA are Nestle, Dabur International, LG Electronics, PepsiCo, Mitsubishi Motors Middle East and Africa, Canon, Mercedes Benz Cars Middle East, Swarovski Middle East, etc.
JEBEL ALI FREE ZONE BENEFITS :
- Exemption from Personal Income and Corporate Income Taxes
- 100% Foreign Ownership
- Full Repatriation of Profits
- Array of permitted business activities
- Employment & Visa Services
- Networking Opportunities
- Marketing Development Opportunities
- Top-notch Communications Infrastructure
- Flexi Desk Services
- Onsite Residences
MANDATORY AUDIT FOR JAFZA :
Auditing is mandatory for companies situated in JAFZA. The companies need to submit their audited financial statements within 90 days from the end of the company’s financial year. Only JAFZA approved auditors can audit the companies situated in JAFZA. The signed & stamped audit report along with summary sheet must be uploaded in JAFZA portal.
Failure to submit the audited financial statements would result in a fine of AED 5,000 and also non-renewal of business licenses.
AUDITOR’S REPORTING REQUIREMENTS :
- The auditor will examine and report on the accounts prepared in accordance with local and international regulations.
- The auditor’s report must state whether the company’s accounts comply with the International Financial Reporting Standards (IFRS).
- The auditor’s report must provide details on whether the accounts present a true and fair view of the company’s affairs at the end of the financial year and accounts are free from material misstatements.
- The auditor needs to state in his report whether the company is undertaking only activities permitted under its license. The authorities rely on the auditor’s report before renewing the license.
- The auditor must ensure that the accounts of the company are in agreement with the accounting records and returns.
- The auditor has to ensure that the companies are not indulging in money laundering and financing of terrorism.
JEBEL ALI FREE ZONE (JAFZA) APPROVED AUDITORS :
We at ‘’Hallmark International’’ are Jebel Ali Free Zone approved auditors providing the finest auditing services to ensure compliance of the companies laws & regulations in the U.A.E. We also provide Accounting & Bookkeeping, Business Incorporation and ERP & Accounting Software Services. We are also DIC, DMCC, RAKEZ, DWC, DAFZA and Dubai Media City approved auditors.
We ensure prompt delivery of reports contributing to a smooth and quality experience. We assure confidentiality of documents and financial information of our clients with qualified management which will make ‘’Hallmark International’’ your go- to auditors’ time and again!
Contact us for best services below :
W: https://www. hallmarkauditors .com/