Auditors in UAE

Auditors in UAE

Auditors in UAE – Bringing together – people and numbers.

Auditors in UAE

Auditors in UAE

Saif Chartered Accountants assist our clients accomplish their goals by providing highest quality services in accounting, audit and related professional services in UAE.
As an Auditors in UAE,  We understand that professional approach to the clients’ requirements in a very responsive and with personal attention to every client is valuable to our shared success.
We consistently strive to provide exceptional, industry specific services to our clients and maintain a dynamic work environment that encourages personal and professional growth for all our employees.
We are dedicated to the pursuit of professional excellence and our values dictate that we do so without compromise. Our core values are professionalism, responsiveness and quality. 

Contact Us:

Dubai

1106, The Prism,
P O Box 34927, 
Near Business Bay Metro Station,
Business Bay, Sheikh Zayed Road, Dubai, UAE.

Contact

Tel: +971 4 4518600, Fax : +971 4 4518599
Mob: +971 50 8550 765, +971 50 675 9158
Mail: info@saifaudit.com
Web : www.saifaudit.com

P.O. Box 49858, Hamriyah Free Zone, Sharjah, UAE.

208 Uxbridge Road, Shepherds Bush, W12 7JD, London, United Kingdom.

Vayanasala Cross Road, 33/2502, C2
Kochi, Kerala – 682032
Tel: +91 484 3097146

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Santa Fe Associates Annual Meeting 2014: San Juan, Puetro Rico, USA.

Santa Fe Associates Annual Meeting 2014: San Juan, Puetro Rico, USA.

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DMCC Audit – Saif Chartered Accountants, Dubai, UAE

DMCC Audit – Saif Chartered Accountants, Dubai, UAE

DMCC Audit : Saif Chartered Accountants, one of the leading auditing firms in Dubai, UAE cater all your licencing needs in DMCC (Dubai Multi Commodities Center) & JLT (Jumeirah Lakes Towers)

DMCC Audit

DMCC Audit

DMCC Audit Compliance

Audit in DMCC/JLT registered companies are made compulsory.

DMCC Audit : Penalties for Non compliance of Audit for companies in DMCC/ JLT

As per the DMCC Audit regulations, every new company licensed in DMCC has to appoint an auditor, approved by DMCC, and sumbit auditor’s appointment letter to DMCC with in 30 days of the licensing date.

Also it is mandatory to submit the audited financial to DMCC within 90 days of the financial period reporting date, non-compliance of the above will attract DMCC penalties.

Recently the free zone Authority issued a fine policy for all the clients who have not submitted the audited financials on time. Audit in DMCC/ JLT is compulsory for all registered companies in the free zone. As per DMCC Audit guide lines all its registered members need to submit audited financials for each year within three month from the date of financial year ended. Those clients failed to submit audited financials on time are being penalized for a minimum of AED 5000 for each financial year. DMCC has already implemented and started to issue fines for the clients who have not submitted audited financials. If any registered member in DMCC has not prepared and submitted the financials to free zone authority then you will be experiencing financial penalties and service termination also.

www.saifaudit.com

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Audit Firms in Dubai

Audit Firms in Dubai

 
Saif Chartered Accountants – One of the leading Audit Firms in Dubai

 The leading Audit firms in Dubai : Saif Chartered Accountants established in 1999, is a progressive fast growing audit firm in UAE helping clients to accomplish their business interests and financial goals towards growth and profitability.

Audit Firms in Dubai

Audit Firms in Dubai

We provide quality accounting, auditing and consulting services in the United Arab Emirates. For over a decade, Saif Chartered Accountants has been providing superior service through the expertise of its professional team with its firm’s presence in Dubai and India. Our motivated and professional staffs that are qualified and immensely experienced to cater to the needs of a wide spectrum of clientele from individuals to large organizations, indigenous and international, takes care of our multi-disciplinary practices.

The firm’s proximity to large and fast developing market in India through our established offices gives impetus for a significant catering of our services in the region.

 Services

Audit & Assurance Services

Our Audit & Assurance practice is the core of our services. Our vast experience in the profession for more than a decade helps us to offer the best of the industry services to all our clients. We often associate with our clients to know more about their needs, their issues and predicaments. We assist them to evolve a better environment for a fruitful business operation and maintain a sustainable growth as years progress. We usually provide qualitative information to assist our clients to locate key issues in various segments of their industry and suggest remedies.

Our main areas of expertise interalia are as follows:

• Financial Audit, Review and Compilation
• Implementation of Internal control procedures
• Variance analysis of key areas from business history
• Performance measurement with Industrial /Seasonal /Geographical yard sticks
• Management Audit
• Preparation of Fixed Assets Register
• Preparation of Networth statements of Individuals
• Certificate Services
• Business Valuations
• Due Diligence
• Budgeting & Forecasting
• Business Advisory & Consultancy
• Company (LLC) Formations
• Internal Audit
• Free Zone Company Audit

Free Zone Companies

Saif Chartered Accountants can assist you with setting up your business in the various Free Trade Zones of the UAE which include Dubai, Abu Dhabi, Sharjah, Ajman, Ras-Al-Khaimah, Umm-Al-Quwain and Fujairah.

Feasibility Studies

Saif Chartered Accountants specializes in creative solutions for present day business interests. We have professional expertise and experience in identifying, and quantifying the business interests
Audit & Assurance Services

Our Audit & Assurance practice is the core of our services. Our vast experience in the profession for more than a decade helps us to offer the best of the industry services to all our clients. We often associate with our clients to know more about their needs, their issues and predicaments. We assist them to evolve a better environment for a fruitful business operation and maintain a sustainable growth as years progress. We usually provide qualitative information to assist our clients to locate key issues in various segments of their industry and suggest remedies.

Our main areas of expertise interalia are as follows:

• Financial Audit, Review and Compilation
• Implementation of Internal control procedures
• Variance analysis of key areas from business history
• Performance measurement with Industrial /Seasonal /Geographical yard sticks
• Management Audit
• Preparation of Fixed Assets Register
• Preparation of Networth statements of Individuals
• Certificate Services
• Business Valuations
• Due Diligence
• Budgeting & Forecasting
• Business Advisory & Consultancy
• Company (LLC) Formations
• Internal Audit
• Free Zone Company Audit

Free Zone Companies

Saif Chartered Accountants can assist you with setting up your business in the various Free Trade Zones of the UAE which include Dubai, Abu Dhabi, Sharjah, Ajman, Ras-Al-Khaimah, Umm-Al-Quwain and Fujairah.

Feasibility Studies

Saif Chartered Accountants specializes in creative solutions for present day business interests. We have professional expertise and experience in identifying, and quantifying the business interests of our clients and make viable projects for the accomplishments of our clients’ desires. All feasibility studies conducted by us are used for effective decision support process. We put emphasis on sensitivity analysis and assure that our studies take into consideration the key variables of varied factors of the industry. We follow due diligence in assessing market feasibility, risk analysis and planning.

Our areas of expertise include the following:

• Feasibility Studies
• Projections & Forecasts
• Budgeting Analysis
• Market Research and Marketing Consultancy
• Compilation of Complete Project Reports

Accounting & Payroll Services

We, at Saif Chartered Accountants also undertake accounting assignments of our clients. Those firms who want to outsource their accounting jobs, payroll services, we undertake the assignment on contractual basis that may be weekly, monthly or yearly and also compile financial statements and relevant reports. We also undertake backlog accounts and complete them professionally in a timely manner. Our accounting outsourcing solutions are cost effective and with our efficiency, accuracy, accounting know-how, and identifying the correct software solutions we guarantee complete satisfaction to our clients. We also undertake preparation of time sheets, muster rolls and pay sheets for firms where the sheer size of the firm makes it difficult to manage in a timely manner.

Our areas of expertise include the following:

• Accounting
• Book keeping
• Installation of account software
• Payroll management

Clients

We at Saif Chartered Accountants, offer various services to our clients in UAE including Free Zone Companies.

Over the years we have provided services to a large number of clientele. Our client strength have reached a phenomenal 2000+ mark and still growing.

Our sincere and dedicated services have also helped us to make our own position in the market and to achieve credibility in providing professional services. The recognition we achieved from various free zones, banks of UAE as their approved and authorized agents/auditors are valid credentials for our growth story.

Dubai

1106, The Prism,
P O Box 34927,
Near Business Bay Metro Station,
Business Bay, Sheikh Zayed Road, Dubai, UAE.

Contact

Tel: +971 4 4518600, Fax : +971 4 4518599
Mob: +971 50 8550 765, +971 50 675 9158
Mail: info@saifaudit.com
Web : www.saifaudit.com

Sharjah

P.O. Box 49858
Hamriyah Free Zone, Sharjah.

London
208 Uxbridge Road, Shepherds Bush
W12 7JD, London, United Kingdom
Tel: 0044 7540849488

Kochi
Vayanasala Cross Road, 33/2502, C2
Kochi, Kerala – 682032
Tel: +91 484 3097146

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Jebel Ali Free Zone has been crowned fDi’s Middle East and North African Free Zone of the Year 2014

Middle East and North Africa Free Zones of the Year 2014 – Jebel Ali Free Zone

Jebel Ali Free Zone has been crowned fDi’s Middle East and North African Free Zone of the Year 2014 for large tenants, while Dubai Multi Commodities Centre scooped the award for SMEs.

In no other region of the world has the development of economic zones been as swift or as comprehensive as in the Middle East and north Africa (Mena), most especially in the UAE. Trade in the region has been revolutionised by free zones, allowing companies to explore new markets in a convenient and competitive manner. The face of FDI changes when tax barriers are removed and incentives become the proverbial carrot. Firms find themselves faced with new, populous markets with increasing disposable income – markets which provide a bridge between Eastern and Western business.

In an effort to find the best free zones in the Mena region in 2014, fDi Magazine broke it down and asked what zones had to offer, and how much of the offering was taken up by expanding firms.
Methodology The fDi Free Zones of the Year 2014 for Middle East and North Africa, which replace fDi’s previous biannual Middle East Free Zone rankings, acknowledge the most promising free zones across the Middle East and north Africa region. For this year’s awards, fDi invited free zones, government entities and investment promotion agencies to complete a short survey detailing the features of their zone, including attractiveness, facilities and incentives offered to investors. A panel of judges from fDi was appointed and studied each location. Free zones were then ranked within their country, and each country was presented with Best Zone for SMEs and Best Zone for Large Tenants awards. In addition, some locations that were particularly outstanding but which did not win awards due to the tough competition in their home markets have been acknowledged with honourable mentions.

Overall winners and UAE

Large tenants

Jebel Ali Free Zone  - Salma Ali Saif Bin Hareb

Jebel Ali Free Zone

Jebel Ali Free Zone  In fDi’s inaugural Middle East and North Africa Free Zones of the Year awards, which compared zones both domestically and then regionally, Jebel Ali Free Zone (Jafza) has reigned supreme as Free Zone of the Year for large tenants. The free zone houses more than 7200 tenants, occupying some 28 million square metres of space. Established in 1985 with 19 tenants, Jafza has evolved significantly over its 29-year history, today including 100 Fortune 500 companies among its tenants. The zone is well connected, with sea, air, land and rail connections ensuring access to a wide range of global markets. Judges were impressed by Jafza’s major infrastructure developments, including the Gate 4 project, which will take the zone’s current three-lane entry and two-lane exit system to a full 16-lane entry and exit facility, allowing for smoother passage. This will be in addition to its major exit gates for intermodal transfers or cargo movement. Despite its already large numbers and the substantial presence of international companies, the zone continues to post growth figures, with an 18% increase in tenant occupied space in 2013 over the previous year and a 9% increase in number of tenants. Salma Ali Saif Bin Hareb, chief executive of Economic Zones World and Jafza, says: “We are delighted to be recognised as fDi Free Zone of the Year 2014 for Large Tenants – Middle East and North Africa, as well as Free Zone of the Year 2014 for Large Tenants – United Arab Emirates. The awards reaffirm Jafza’s unique position as the most favoured investment destination for large multinationals across the world. I attribute Jafza’s remarkable achievements to our most committed and efficient team that continues to help Jafza maintain its invincible leadership status today and in times to come.”

SMEs

Ahmed Bin Sulayem

Dubai Multi Commodities Centre Dubai Multi Commodities Centre (DMCC) won the overall award for Middle East and North African Free Zone of the Year for small and medium-sized enterprises (SMEs). Established in 2002, the DMCC hosts almost 8000 tenants, with a 39% increase in tenant numbers since 2012. Tenants currently occupy 7000 square metres, though this figure is expected to rise given that approximately 200 new companies are registering at the zone each month. DMCC markets itself as “equidistant from Europe, Africa and Asia” with the possibility of opening new markets to a vast range of companies. “DMCC is an all-encompassing free zone and the most dynamic in the UAE as it is home to start-ups, SMEs and multinationals… representing every corner of the world, [which] in turn encourages business opportunities among the member companies based within the free zone, as well as encouraging international growth and access to new markets,” said the zone in its entry. While DMCC is focused on a range of commercial, retail and residential projects, it also has a strong tradition of commodities trading. Since 2003, the zone has seen an increase in the flow of gold to the amount of $64bn, as well as strong increases in the flow of diamonds and tea. DMCC has enabled Dubai to become the world’s leading physical gold market, with more than 25% of the world’s gold passing through the emirate. Ahmed Bin Sulayem, executive chairman of DMCC, says: “SMEs are the key driving force behind the growth of the UAE’s and the region’s economy. At DMCC, we are passionate about creating a sustainable and optimum business environment for SMEs to further enhance this growth and support His Highness Sheikh Mohammed Bin Rashid Al Maktoum, vice-president, prime minister of the UAE and ruler of Dubai’s vision to position Dubai as the global destination for SMEs. “Receiving two awards, the fDi Free Zone of the Year for SMEs – Middle East and North Africa; and the fDi Free Zone of the Year for SMEs – United Arab Emirates, is a strong indicator of Dubai’s and DMCC’s leading role in attracting FDI to the region. As the largest and fastest growing free zone in the UAE with over 8700 member companies, where 95% are new to Dubai and 70% are SMEs, we will continue to ensure businesses have access to everything they require to succeed, trade with confidence and access new markets.”

Honourable mentions

Ras Al Khaimah Free Trade Zone   UAE Ras Al Khaimah Free Trade Zone (RAK FTZ) and Dubai Airport Free Zone (Dafza) both received honourable mentions in the Middle East and North Africa Free Zones of the Year awards. RAK FTZ operates with 7500 tenants, an increase of 24% from 2012. The total area of tenant-occupied space increased by 26% in this time period. The zone comprises four dedicated parks: the Business Park, which attracts office clients; the Technology Park, which attracts trading and light manufacturing; the Industrial Park, which attracts heavy manufacturing; and the Academic Zone, which houses academic institutions. RAK FTZ attracts both SMEs and larger tenants to these internal parks, covering a wide range of industries and clusters with a specialised focus. “Companies of almost any size and type can register with RAK FTZ. We are a hub for SMEs because of our convenient registration and cost-effective packages. However, large companies such as Streit Group, the world’s largest armoured vehicle manufacturer, have also found our services and facilities attractive enough to base their businesses inside the free zone,” the zone’s entry said. “The free zone, when it started, saw a lot of SMEs finding the RAK FTZ’s cost-effective products attractive and gathered a huge client base of SMEs. However, as we grew and our products and services expanded, more and more multinational corporations registered with us.” Dubai Airport Free Zone UAE Dubai Airport Free Zone counts major companies in aerospace and aviation such as Boeing, Airbus and Bombardier among its 1533 tenants. Among the other industries it serves is the freight and logistics industry, with major players such as Federal Express, TNT, DB Schenker and DHL calling Dafza home. Already extremely well established, with growth rates of 7% in tenant-occupied space and 14% in number of tenants in the past year, Dafza has shown steady development and resilience in tough economic times. “Dafza has remained stable over the economic downturn and business challenges it faced, because we are selective in the companies we target and bring to Dafza,” its entry said. While hosting many of the biggest names among multinational companies, Dafza is also making an effort to make SMEs and entrepreneurs feel welcome. In 2013, the zone launched two types of office packages (executive suite and business desk) specifically geared to smaller, more mobile firms and start-ups.

Djibouti

Large tenants and SMEs Djibouti Free Zone Djibouti Free Zone (DFZ) claimed the prize for Free Zone of the Year for Djibouti in both the large tenants and SMEs categories. Managed by the Jebel Ali Free Zone Authority, DFZ is designed to be an industrial, warehousing and distribution hub for east Africa. The free zone hosted 138 tenants in 2013, across a spectrum of accommodations, a 15% increase on the year before. The zone includes 12 warehouses, with a central hangar for logistics covering 9100 square metres, as well as 64 small ‘plug and work’ office units. The zone is so heavily subscribed that it has a waiting list of 50 companies eager to join. DFZ is planning to add a new free zone, Jabanas, which will expand capacity by 300% to encourage the growing relationship the zone enjoys with the Middle East region. As DFZ is at capacity, the focus over the past 12 months has been on planning for future expansion and enhancing connectivity. DFZ is adjacent to the Doraleh Container Terminal, managed by DP World, where a second phase of development is planned this year. Already the third largest container terminal on the east African seaboard, Doraleh’s capacity will be doubled. At the nearby airport, a $600m expansion is planned and a new $3bn railway to Ethiopia is under construction, which will further boost Djibouti’s benefits as an access point to the region. One key issue that has also been addressed is access to cheap and reliable energy, with an enhanced interconnection to Ethiopia’s power network, and longer term plans to become the first country in Africa to generate all its energy requirements through renewable sources by 2020.

Jordan

Large tenants Aqaba Special Economic Zone Authority Aqaba Special Economic Zone Authority (Aseza) has won the prize for Jordan’s Free Zone of the Year for large tenants. The zone houses clients from a wide range of industries, though with more than 370 million square metres of investment space there is a particular focus on logistics, which typically require larger facilities. The location of the free zone allows investors to reap the benefits of proximity to Iraq and other countries in the Levant region. When the zone was established in 2001, a comprehensive masterplan was adopted along with strategic goals including a goal to attracting $6bn of new investments by the 2020. By 2008, this 20-year strategic goal was already exceeded by 300%, according to zone authorities, and currently the zone has more than $20bn-worth of committed investments distributed between the core sectors of tourism and real estate, services and logistics, and industrial activities. Over the past year, Aseza says it has adopted several initiatives to enhance the investment environment in the zone and facilitate the investment process; a full revision for all the investment and tax regulation was done in order to try to overcome all the hindrances that face the current and potential investors. SMEs Aqaba International Industrial Estate Aqaba International Industrial Estate (AIIE) secured Jordan’s Free Zone of the Year award for SMEs. The zone housed 90 tenants in 2013, which represented an increase of 15% from 2012. Space occupied by tenants increased by 11%. Clients hail from a range of industries, including production and logistics. However, there is also a focus on smaller, more service-related industries, such as security and tourism-support services. A variety of flexible pricing structures and packages are on offer to potential clients, as well as services to help with engineering and business plans, which may be of interest to smaller companies on tighter budgets. Rental opportunities are also becoming increasingly available, which may help to attract investors who wish to mitigate their risk. AIIE’s target industries are metal fabrication, logistics, security-related industries and services, plastics converting, food processing, construction materials and supporting services for Aqaba’s tourism sectors. The zone’s management prides itself on flexibility as a key to staying competitive. “The general economic situation has dictated price flexibility. To this end, we have made special rates for expansion by existing investors and offered packages where investors start by buying a small lot at the high end of the price scale with options for subsequent expansion at lower prices with no option fee,” it stated. CEO Sheldon Fink said, in reaction to the award: “It appears that the process for granting awards for Mena free zones in 2014 is focusing more on the level of service and less on total financial investment. This is a very positive development for the SME sector.”

Lebanon

SMEs Beirut Digital District  Beirut Digital District (BDD) won Lebanon’s award for Free Zone of the Year in the SME category. The zone boasted 30 tenants in 2013, a substantial increase from 2012 when only two tenants resided there. Companies occupy 7600 square metres, 70% of which is used by start-ups focused on IT and digital and media sectors. The zone also offers its tenants flexible payment terms and competitive rental rates, a helpful benefit for SMEs. With a slogan of ‘work, live, play’, BDD bills itself as “an all-inclusive community providing the perfect business environment and the highest living standards all at competitive rates”. “Our vision at BDD is to develop the digital creative industries in Lebanon by creating an ambitious, forward-looking, dynamic community placing Lebanon on the world map. Our mission is to create a digital cluster that will attract companies and tenants by offering them the right business environment coupled with value-added services, state-of-the-art infrastructure, and a healthy sustainable community by retaining young skilled creative graduating talents where they can work, live and play,” the zone’s entry form stated. Mouhamad Rabah, CEO of BDD, said: “We believe that Lebanon can become the leader of vital regional collaboration activities in the ICT field, coordinating and facilitating commerce among the different countries in the Mena region.”

Morocco

Large tenants and SMEs Tanger Free Zone Tanger Free Zone (TFZ) won both the large tenants and SMEs Free Zone of the Year awards for Morocco. The zone held 640 tenants (384 large and 256 SMEs) in 2013, an increase of 28% from 2012. The total area of tenant-occupied space increased by 35% in this time period. Companies based in the zone are mainly active in the manufactured goods sector, with a focus on automotive and aeronautics. The largest automotive plant in Africa was established in the zone by Renault-Nissan in 2012, with a capacity to manufacture 400,000 cars annually. As part of its ongoing development and to strengthen its attractiveness, TFZ introduced new areas dedicated to the automotive sector and offshoring services. The newly established automotive area, at 3 million square metres, confirmed the first arrival of new equipment suppliers, while the automotive sector in TFZ represented more than Ä200m-worth of investments in 2013. In parallel, the newly established area for offshoring services (200,000 square metres) commenced operations with ready-to-use offices, data centres and optimised optical fibre connectivity. In addition, and as part of its continuous improvement review, TFZ says it undertook to develop a newly dedicated one-stop shop and introduced electronic processing for zone entry/exit control. “TFZ has witnessed a steady development over the past decade, with regular inflows of new FDI and subsequent development of industrial activities in the automotive/aeronautics sector representing more than 50,000 direct jobs. The decision of Renault-Nissan to build its largest production capacity in Africa and commence car exports from Tanger Med in 2013 represents an outstanding achievement, with more than 100,000 cars effectively produced and exported in the same year,” a statement from the zone said. “This achievement confirms the pertinence of the ongoing strategy pursued by TFZ in developing a reference industrial free zone, meeting the expectations of global players and serving as a gateway to Africa thanks to the coupled development of Tanger Med Port.”

Oman

Large tenants Sohar Free Zone Sohar Free Zone in Oman picked up the prize for the country’s Free Zone of the Year for large tenants. The zone boasted 26 tenants in 2013, which represents an increase of nearly 37% since 2012. The total area of tenant-occupied space increased by 46% in this time period. Sohar is mainly tailored towards larger tenants, with occupancies ranging between 10 and 50 hectares. The zone is home to a number of tenants operating on a multinational basis, including Vale from Brazil and Jindal from India, as well as a range of companies working with and servicing multinational corporations such as Middle East Tubular Services for Sumitomo in Japan, and Suhail Bahwan for the automotive industry. There is a focus to further improve the zone’s attractiveness to larger occupancies, which impressed judges. “Sohar is continuously working on the expansion of its infrastructure, whether it is road, rail or sea connectivity, or utilities such as communication, water and power,” a statement from the zone said. In 2013, 600 megawatts of power was secured by the zone and its communications network was fully ensured. Sohar’s entry stated: “Success is measured through occupancy… Since the free zone started in 2011, in the two years that have passed, phase one of the free zone is at 80% capacity. This is a tremendous result in any language.” SMEs Salalah Free Zone The award for Oman’s Free Zone of the Year for SMEs was won by Salalah Free Zone (SFZ). The zone saw an increase of 9% in its tenancy rate between 2012 and 2013, to reach 24, and occupied space expanded by more than 350%. While SFZ is attractive to both SMEs and larger tenants, judges were impressed with the zone’s proactive initiatives with respect to SMEs in a range of industries, including general industrial companies and logistics facilities. “SFZ contributes effectively to the diversification of the Omani economy and the provision of a lot of direct and indirect employment opportunities, in addition to opening up broad prospects for SMEs to take advantage of the opportunities available in the zone,” a statement for the free zone said. After crafting a strategic action plan in 2010, SFZ is reaching milestones such as signing a strategic partnership agreement with DHL International and attracting three new foreign investments in 2012 with investment of up to $340m and four foreign investments in 2013 with investment of up to $574m. “Still at an early stage of development, SFZ has made tangible achievements despite the relatively short time since its establishment, as the volume of investments of $3.6bn is a strong indicator of the success of the zone’s strategic action plan policies in attracting industrial, commercial and service investments. SFZ expects more valuable achievements in 2014 as well,” its entry said.

Tunisia

Large tenants and SMEs Bizerta Economic Activities Park Bizerta Economic Activities Park clinched both the SME and large tenants categories in the Free Zone of the Year awards for Tunisia. The zone hosted 86 tenants in 2013, 60 of which classified as large tenants. However, the zone has also taken steps to encourage more SME engagement with construction of 10 high-rise offices, with available spaces of between 52 square metres and 195 square metres. The allocation rate within this new complex is about 90%. The zone is well balanced in its make-up of tenants, with 26 projects smaller than 500 square metres (mostly services projects), 29 projects smaller than 5000 square metres, and 31 projects larger than 5000 square metres. The total area of tenant-occupied space has increased by 9% and the number of tenants has increased by 5% from 2012 to 2013. The zone caters to industrial concerns (such as medical and pharmaceutical, mechanical and electrical industries, and iron, steel and metallurgy, among others) as well as services companies ranging from engineering to accountancy, call centres, software development and banking services. The trade and packaging of agribusiness, pharmaceutical, cosmetic and electrical products is another key activity at the zone. The zone cites its strategic position “at the heart of the Mediterranean”, its incentives, and the area’s legacy of industrial activity among its strengths, boasting of  “the existence of an industrial mentality of 100 years, and the park’s experience, which dates back 20 years” as well as “the quality and the specificity of services offered by the park”.

Source : http://www.fdiintelligence.com/Locations/Middle-East-Africa/Middle-East-and-North-Africa-Free-Zones-of-the-Year-2014

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Chartered Accountant firms in Dubai – Why Saif Chartered Accountats

Chartered Accountant firms in Dubai

Chartered Accountant firms in Dubai

Why Saif Chartered Accountants?

Chartered Accountant firms in Dubai -Saif Audit 

Saif Chartered Accountants is a professional firm of Chartered Accountants, established in Dubai as an auditing and accounting firm. We have a full-fledged team with professional qualifications and experience in the field of accounting, auditing and business consultancy. Established in 1994, with offices in Dubai, UK, Hamriyah Free Zone, Sharjah and associate offices in RAK Free Trade Zone, Abu Dhabi, and India. Saif Chartered Accountants cater to a wide spectrum of clientele from diversified industries located in UAE.

Member of Santa Fe Associates International, USA.

ISO cerified company managed by JCS iCON, an international Business Group.

NON-TRADITIONAL AUDIT APPROACH TO TRADITIONAL AUDITING SERVICES AND A VISION BEYOND NUMBERS

The world is changing – business concepts, interests, standards, technology and that too in a fast pace. The conventional audit approach which tends to focus on formal accounting control mechanisms also needs a change or at least we believe in that. The results of these traditional audits often focus on areas considered insignificant and in turn reflect a deficiency of the approach – its tendency to focus on symptoms instead of the real causes.
We as auditors tend to look beyond these traditional mechanisms and look for ways to enhance the services we provide.
Equally important, we understand the unique goals, opportunities, threats and challenges often faced by our clients and assist them to analyze the critical situations in a cohesive and comprehensive way.
We can assure that the professional assistance we provide comes from years of advanced training, experience, technical expertise and thorough industry knowledge. We don’t lag behind in investing our resources in continuing professional education and training, information technology and new business concepts.
Our presence in the area for more than two decades has been very successful and is one of the growing leaders in the community. As we enter into the next decade, we are committed to bring the perfect complement to the region through our dedicated approach and support to our very valued clients and our employees.

Contact us

1106, the Prism, Business Bay, Sheikh Zayed Road, P.O. Box:34927, Dubai, UAE.

Tel: +971 4 4518600, Fax : +971 4 4518599
Mob: +971 50 8550 765, +971 50 675 9158
Mail: info@saifaudit.com
Web : www.saifaudit.com

P.O. Box 49858, Hamriyah Free Zone, Sharjah, UAE.

208 Uxbridge Road, Shepherds Bush, W12 7JD, London, United Kingdom.

Vayanasala Cross Road, 33/2502, C2, Kochi, Kerala.

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DIP (Dubai Investments Park) : The One-Stop Multi-Purpose Destination

DIP

DIP (Dubai Investments Park)

Dubai Investments Park (DIP), the largest integrated business and residential community in the Middle East, was set up in 1997 with a mission to create a self-contained and master-planned business complex, and to provide investors  with facilities and professional services that set new standards in the region.

IP is entirely owned by Dubai Investments PJSC the largest investment company listed on the Dubai Financial Market with over 19,894 shareholders. It is the premier business park in the entire region, offering
investors the right environment for success: their workforce benefits from wholesome living while their families enjoy a comfortable community lifestyle.
Strategically located within minutes from the Jebel Ali Port and Al Maktoum International Airport, DIP is well connected to Dubai’s key business districts and redefines the idea of community. Spread across an area of 2,300 hectares, DIP is a city within a city, offering world-class infrastructure across its three zones – residential, commercial and industrial, and extending a one-stop destination for manufacturing, housing, academic, research and development, distribution and logistics purposes.
Each of these zones has set the benchmark for high quality projects in a well-planned, fully-integrated master community development with unique characteristics and features. One of its key offerings, the Residential Zone, encompasses a wide selection of accommodation ranging from villas and town houses to an array of apartments built to the best international standards in terms of design, quality and space.

Within the Commercial Zone, companies can design and construct as per DIP standards and tailor-make to their requirements. The zone offers amenities for international and local investors, providing a range of offices, showrooms and retail outlets as well as unrivalled business infrastructure.
The Industrial Zone has quickly emerged as a powerhouse in manufacturing, and is ideal for any kind of industry –light, medium or heavy. The zone provides investors and manufacturers the perfect breeding ground with the world’s most advanced infrastructure and outstanding facilities tailored to suit the requirements of modern industries. The benefits of quality and ease of access within Dubai Dubai Investments Park: The One-Stop Multi-Purpose Destination and to potential markets in the neighbouring emirates and the wider region make the DIP an ideal investment destination, accentuated by a government decree that grants foreign investors
leasehold rights for up to 85 years. DIP accommodates over 2,715 tenants representing a wide array of industrial establishments, commercial entities and residential units.
Given its salient offerings and unmatched amenities, the industrial, commercial and residential interests in DIP have witnessed a steady increase, with office and storage spaces attracting high demand over the last couple of years.
DIP boasts a world-class infrastructure for convenience and mobility. With 104 km of internal road network, the park offers excellent leisure and recreation facilities. In particular, DIP offers a multitude of options in staff and labour accommodation, setting new benchmarks in quality lifestyle experience. Currently, DIP has a total of 144 labour accommodations for different companies, which house in excess of 65,000 labourers.
These facilities are well served by public transport and close to day-to-day necessities such as supermarkets, shopping centers,  ATMs, mosques and fantastic recreational options.
DIP also offers other essential services including medical centres and educational institutions, as well as hotels and furnished apartments catering to different market segments for both business and leisure travelers.
The infrastructural growth within DIP continues to transform the park into a self-contained city within a city  reinforcing its identity as the most sought-after development for tenants and businesspersons looking to invest in Dubai.

Auditing service for DIP Companies : Saif Chartered Accountants, Dubai.
www.saifaudit.com

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Jebel Ali Free Zone (JAFZA) approved Auditors

Jebel Ali Free Zone

Jebel Ali Free Zone (JAFZA) approved Auditors

Saif Chartered Accountants play significatant role in the auditing of companies of  Jebel Ali Free Zone.

Jebel Ali Free Zone : An overview

Jebel Ali Free Zone  is Economic Zones World’s flagship operation. One of the world’s largest and the fastest growing free zones. Established in 1985, Jafza today is spread over an area of 48 sq. kms and is home to over 6400 companies, including over 120 of the Fortune Global 500 enterprises, from across the world. It is a leading driver of the burgeoning UAE economy. With its impeccable track record, Jafza stands for innovation, customer centricity, transparent operations and entrepreneurial dynamism.

▶ Grown its customer base by over 60%
▶ Increased its revenue at an average of 34% year-on-year
▶ Contributed to Dubai’s GDP at 25% on a year-to-year basis
▶ Sustained more than 160,000 jobs in the UAE.
▶ Accounted for more than 50% of Dubai’s total exports.
▶ Accounted for 20% of all FDI inflow into the UAE

Contact Us

Saif Chartered Accountants
P O Box 34927, Dubai, U A E.
Tel: +971 4 4518600, Fax : +971 4 4518599
Mob: +971 50 8550 765, +971 50 675 9158
e-mail: info@saifaudit.com
Web: www.saifaudit.com
Office Location: 1106, The Prism,
Near Business Bay Metro Station,
Business Bay, Sheikh Zayed Road, Dubai.

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The Need of Audits in UAE Free Zones

The Need of Audits in UAE Free Zones:

Audit itself connotes a panic among the people because it’s meaning itself is defined in terms of investigation, examination or evaluation. Most of the people don’t intend to be screened, scrutinized, examined or investigated even if they have no legitimate reasons to fear so.

Most of the organizations prefer to do an audit as it helps to determine how effectively and efficiently the organization is functioning. It also helps a business organization to comply with rules and regulations stipulated by authorities, to have an equal playing field for all similar businesses or to have the best business practices. Simply put, an audit is the foundation of good governance in any business.

UAE Free Zones

UAE Free Zones

UAE Free Zones : The facts

UAE Free Zones : There is a misconception among certain people that the requirement of audit or submission of audit reports to any authority leads to levy of tax or any other pecuniary controls. Certainly, in countries where direct taxation is prevalent, audits and reports are mandatory or form part of their fiscal tax procedures.

But in countries like United Arab Emirates (UAE) where there’s no levy of taxation of income, certainly one may feel that there’s no need for audit or audit reports. But in countries like UAE, where the free zones play a dynamic role in formulating and sustaining a more robust social and economic development; guide the country to maintain placid growth and housing various types of industries and diversified businesses, it is imperative to have a proper system in place to guide and discipline the member organisations functioning in the free zones. Hence most of the UAE Free Zones have made it mandatory that the companies under its control have to submit annual financial statements and independent auditors report at the end of each accounting year prior to renewal of their trade licences.

At least some may feel that this is an infringement of their business privacy and secrets. In reality that’s not the case. An auditor, who is performing the audits, is a professional who by the nature and standards of his qualifications and ethics shall maintain the secret nature of his clients business, interests and results. Also the authorities to whom the reports are submitted are also responsible professionals who shall not in any circumstances deliver the information to any unscrupulous agents. Certainly, the authorities have the mechanism to maintain the secret nature of all the data in their safekeeping.

The authorities also have the right to know if the companies or organisations under their jurisdiction comply the stipulated rules and regulations and the organisations are following the best business practices. The organisations also are at liberty to collate and consolidate the data for statistical purposes for evaluating the growth, GDP etc., of the Free Zones and the country as a whole.

Also most of the Free Zones have stipulations that they allow only performing companies under their licences and hence by law stipulates that all companies have to maintain net assets in excess of 75% of their share capital.

Hence, in view of all the above, the requirement of annual audit reports in the UAE Free Zones can be substantiated and shall be viewed as a very positive step by the authorities for the growth and betterment of the organisations and the society as a whole.

UAE Free Zones : The professional auditors

Saif Chartered Accountants operating since 1999, in UAE has a prominent presence in all the UAE Free Zones. It provides various services to its diversified clientele in areas of financial audits, business advisory, and other non-assurance services.

Contact us :

Business Bay, Sheikh Zayed Road, Dubai, UAE.
Tel: +971 4 4518600, Fax : +971 4 4518599
Mob: +971 50 8550 765, +971 50 675 9158
Mail: info@saifaudit.com, www.saifaudit.com
 

http://www.saifaudit.com/blog/2014/05/20/uae-free-zones/

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Meydan Free zone – Dubai, UAE

Meydan Free zone – Dubai, UAE

Meydan Free zone

Meydan Free zone

Meydan offers international free zone trading status with competitive start up costs for businesses locating to Dubai. Meydan Free Zone companies become part of a thriving, centrally located economic community with the best address in the region. Our flexible office spaces, business parks and bespoke commercial spaces are tailored to business whatever the scale

Meydan Free zone : Services

Registration of Free zone company
Office Space
Retail Space
Residential Space
Land Sales

Meydan Free zone

Meydan is the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE, Prime Minster and Ruler of Dubai. It is the culmination of his vision to create not just the ultimate venue for horseracing, but an integrated city that is sustainable, environmentally responsible and one that positions Dubai at the centre of the competitive global business stage.

Dedicated to the rich equestrian heritage of the region, and the passion of its ruler, Meydan hosts five months of world class Thoroughbred horseracing, which climax in March with the spectacular Dubai World Cup, the world’s richest race day. The Emirates Equestrian Centre and Dubai Equestrian Club host riding lessons, stabling and competitive activities from Show Jumping and Dressage to major international Endurance races such as the Dubai Crown Prince Endurance Cup.

Meydan’s premium leisure and hospitality experiences include the Meydan Hotel, Bab Al Shams Desert Resort & Spa, Meydan Beach, Meydan Golf, Meydan Tennis Academy and the Meydan Theatre. The iconic Meydan Grandstand hosts regular live concerts attracting the biggest names from around the world, as well as a busy calendar of events and exhibitions.
Meydan, the most important new business, sporting and lifestyle destination in Dubai. Meydan City Corporation oversees the development of the United Arab Emirates’ new iconic horseracing development. It will feature a world-class grandstand, and will serve as a major business and conference district.Located in the heart of Dubai, Meydan Freezone provides businesses with a powerful global advantage. Offering highly competitive start-up costs without compromising on standards in location and ease of incorporation, Meydan Freezone drives your business with an extensive transport network, state-of-the-art telecommunications, a wide range of banking services and high-speed internet connectivity. Meydan Freezone also provides intelligent Information technology support through a team of professionals from around the world.
Meydan City will feature the Meydan Freezone and four distinct sub-districts – Meydan Racecourse, where the Meydan Grandstand takes centre stage and is home to the Dubai World Cup; Meydan Metropolis, a series of state-of-the-art business parks; Meydan Horizons, where business towers intermingle with luxury waterfront developments, and Meydan Godolphin Parks, with its distinctive Godolphin Tower created in the image of a thoroughbred, where the shopping destination Signature Mall is located.

For assistance and audit:

Saif Chartered Accountants

Saif Chartered Accountants
1106, The Prism,
P O Box 34927,
Near Business Bay Metro Station,
Business Bay, Sheikh Zayed Road, Dubai, UAE.
Tel: +971 4 4518600, Fax : +971 4 4518599
Mob: +971 50 8550 765, +971 50 675 9158
Mail: info@saifaudit.com

www.saifaudit.com

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