The Hamriyah Free Zone (HFZ) is among the largest free zones in the UAE. The Hamriyah Free Zone is an ideal location for businesses in the UAE, as it offers convenient access to all the six Emirates. Hamriyah Free Zone is home to multi industries that include, petrochemicals, steel, petroleum, and building materials. Hamriyah Free Zone Authority allows companies to operate in a tax-free environment, having entire ownership of the business, except for all commercial activities and profits that must be repatriated. Hamriyah Free Zone approved auditor‘s primary duty is to ensure the auditing process is handled in a timely, efficient, and effective manner. Farahat and Co, a top audit firm in Dubai offer an extensive range of auditing services and accounting services. Our expert team of professionals provides premier accounting and auditing services that enable businesses to thrive.
Types of Licenses Available for Hamriyah Free Zone (HFZA)
HFZA supports the following license types:
- Commercial License
- Industrial License
- Service License
Businesses of all sizes can benefit from a commercial license.
In the HFZA, you can establish three types of legal entities:
- FZEs are free zone establishments with only one shareholder.
- FZCs are free zone establishments with at most 5 shareholders.
- A company’s domestic or international branch.
As a free zone, the HFZA offers a number of benefits. Here are a few of them.
- Corporate and income taxes are zero.
- Oil and gas companies’ industrial hub.
- As the largest steel cluster in the UAE, HFZA includes a wide range of steel businesses.
- Easily accessible from all UAE and GCC countries.
Authorities in free zones offer a number of advantages to businesses. These authorities also demand that businesses uphold strict standards and observe local regulations. One such important criterion that you must follow in accordance with local regulations is auditing by approved auditors.
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Approved Auditors in Hamriyah Free Zone
All companies registered with Hamriyah Free Zone must provide their audited financial statements issued by approved auditors in HFZA. To maintain high compliance standards throughout the free zones, the free zone authority maintains an extensive and carefully curated list of approved auditing firms.
Advantages of Partnering with Approved Auditors in HFZA
It is imperative to partner with approved Auditors in HFZA to ensure an efficient and authentic auditing procedure, it is a legally essential component of compliance.
Further, a partnership with an approved auditor in HFZA can provide your business with the following benefits:
- Tax compliance with UAE FTA tax laws.
- Financial reporting and accounting standards that comply with international standards.
- Tax and accounting compliance with HFZA requirements.
- By keeping shareholders informed of the fair conduct of your business, you will add value to your company.
- Keeping up with tax laws such as the ERS, VAT, and other tax regulations.
Documents That You Need to Provide to Approved Auditors in HFZA
To assess your business’s financial well-being, audit firms in Dubai will require all relevant documents related to your business’s conduct.
An HFZA Approved Auditing Firm May Ask for the Following Documents:
- Statements of financial information about the company, including trial balances, profit and loss statements, invoice records, balance sheets, etc.
- Records of accounting.
- Reports from previous audits, if any.
- Association memorandum for the company.
- Details of VAT registration (if applicable).
Depending on the size and type of your organization, one, might be required to provide a comprehensive list of documents.
As an approved accounting and auditing firm in UAE, Farahat and Co offer top-notch services. Our expert team of professionals provides premier accounting and auditing services that enable businesses to thrive.
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