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Established in 1996, Sharjah Airport International Free Zone (SAIF Zone) is a mixed used free zone which is mainly used for commercial activities. The free zone offers pre built warehouse and office spaces which makes it an ideal place for investors looking to start their business in Sharjah.
There are distinct advantages of Sharjah Airport International Free Zone (SAIF Zone). With a trading history dating back to the early 18th century, Sharjah today accounts for more than 45% of all industrial activity in the UAE.
The cost of Sharjah Free Zone company formation is lower than in any other emirate of the UAE, and the focus on industrialization has in recent times turned Sharjah into a marketable mecca registering a periodic growth rate of 13%.
As per the regulatory guidelines of SAIF Zone, the companies in the free zone are obligated to submit their books of accounts audited and submitted within 90 days from the end of the financial year.
Non-compliance with this mandate will lead to legal consequences such as Non-Renewal of SAIF Zone trade licence. To avoid such legal consequences the free zone has appointed registered auditors.
The SAIF Zone authority has stipulated the requirement that the corporations working in the free zone have to get their books of accounts audited through SAIF Zone approved auditors. Getting the books of accounts audited is obligatory for the corporations to get their Trade License renewed.
The companies residing within SAIF Zone are not allowed to audit their books by any other auditor unless is listed in SAIF Zone auditors list.
We at Excellence are SAIF Zone approved auditors under the name of MANSOOR MULLA AUDITING OF ACCOUNTS and also provide other business services.Excellence is an approved auditor for 8 major free zones in UAE:
Excellence Auditing conducts final audits in accordance with International Standards on Auditing (ISA) and International Financial Reporting Standards (IFRS) and also follows audit guidelines set by the SAIF Zone Authority.
We also identify areas for improvement and suggest steps to achieve organizational goals actively contributing to business success. An audit of business books by the best UAE accounting firm helps companies comply with local and international regulations, and strengthens the company's credibility with stakeholders, governments, lenders, and other authorities.
DIRECTOR, AUTHORIZED SIGNATORY
MANAGER - TAX & ADVISORY
MANAGER - AUDIT & ASSURANCE
MANAGER - ACCOUNTING & BOOKKEEPING
MANAGER - BUSINESS CONSULTANT
MANAGER - BUSINESS DEVELOPMENT
MANAGER - BUSINESS DEVELOPMENT
ASST. MANAGER-BUSINESS CONSULTANT
SR. BUSINESS CONSULTANT
BUSINESS DEVELOPMENT EXECUTIVE
CLIENT SERVICE EXECUTIVE
SR. CLIENT SERVICE EXECUTIVE
SR. CLIENT RELATIONS EXECUTIVE
SR. ADMIN EXECUTIVE
Business Development Executive
For companies registered in SAIF Zone (Sharjah Airport International Free Zone), they must be audited by SAIF Zone listed auditors. According to free zone regulations, all companies registered in SAIF Zone should have auditors approved by SAIF Zone to prepare annual audit reports.
Every company has to maintain books of accounts, at the registered office or any office that the board of directors may decide. If the company is maintaining books at an office other than the registered office, it has to intimate the same to RoC. The company can maintain the accounts electronically also.
Books should be maintained for a period of 5 years from the end of the relevant financial year.
The Jebel Ali Free Zone Authority has stipulated a number of businesses registered under it. In order to renew their license without any failure, external audits are conducted. The subsequent documents required while conducting auditing are:
Credit/ debit confirmation for all financial transactions in the Books of Accounts
All invoices-purchases and sales
Trade License, Memorandum of Association (MOA), Articles of Association (AOA)
Excellence is an approved auditor in SAIF Zone offers various services including Financial Advisory Services, Tax Consulting Services, VAT Registration, VAT Deregistration, and Internal/External Audit for Companies, Business Advisory Services, etc. in UAE.
As a SAIF Zone approved auditor, we offer the best services to the participating companies. Get in touch with us.