Chartered Accountants in Dubai

Today, the services of auditors are required all around the world to run a safe business. Internal audits are a mandatory integral part of a business. Internal audits have to perform a self evaluation procedure as in how an organization works, its processes and the risk involved that may affect the business. Dubai based Chartered accountants who specialize in auditing have worked across various industries and have a vast knowledge of all the business functions. They possess a comprehensive and complete overview of the organization they work with.

Here are few basic functions that are performed by Chartered Accountants in Dubai

1. Dealing the Risk Factor

In every organization there is always a possibility for undesirable outcomes and situations. The Chartered Accountants are well aware of their responsibility to help organizations in becoming proactive and identify the risk. With their vast research capabilities and knowledge of the market and the company scenario they can understand and analyze the trends and find solutions for the risks. By using their extensive experience and ability to evaluate the situations they can predict the risks that may affect the business and opportunities that can benefit business easily. By hiring a chartered accountant in Dubai, you can be free of the difficulties you face in maintaining the records and accounts of your business and streamlining the auditing process for the authorities you are answerable to.

2. Reports and document Submissions

 Accountants maintain records and reports that deal with the company operations. They help you make the best decisions in view of the company’s benefit, thereby ensuring a positive out come of any business venture. They prepare themselves with the complete knowledge about the company and its operations and dealings so that they are able to identify the limitations and focus on scope for improvement. They put to use their findings and the proven methods to make the business grow better.

3. Identifying malpractice and fraud

Being free of malpractice and fraud is very important for a business and especially for and offshore company. It is common practice for the companies to trust their employees completely. Professional accountants and related agencies can also investigate employee behavior and discover malpractices .So it is safe to seek the assistance of a chartered accountant in this regard. If an employee is disloyal, they can prove harmful for the company. Auditors make sure that such employees are detected and dismissed before they cause further damage to the business and reputation.

4. Risk Analysis and Crisis Planning

Additional to identifying the risks, Chartered accountants also help with planning for an emergency and solutions to resolve the situation. For instance they can suggest you a low cost process instead of a tedious and expensive one to overcome increasing costs in a manufacturing company. They can help you device the best possible ways to cut costs and increase production economically. They may also help you in marketing and maintaining the production – sales balance.

For business hubs such as Dubai, it is indeed a best option to seek the assistance of a professional Chartered Accountant to improve your business and flourish.

Dubai company formation | incorporation services dubai

Setting up a business at Free Trade Zone in Dubai

What is a free zone?

Free zone is a segment of well defined and separated setting and infrastructure, with special tax schemes, customs and imports regime, usually beneficial for foreign investors to expand their business by setting up operation centers in these zones.

The primary reason for establishing free zones in the UAE was to serve as a central business hub for companies that intend to establish business for overseas operations and not specifically in the UAE. Companies in the UAE free zones are allowed to operate among the free zone companies for their worldwide operations and are not licensed to operate in the rest of the UAE.

Advantages of a Free Zone

• No taxes on personal gain or capital gains in the UAE
• 100% foreign ownership of the business
• No corporate taxes for a considerable period
• Complete repatriation of capital and profits
• Modern infrastructure and facilities
• No currency restrictions
• Excellent support and consultant services

Facilities available in the free zone

• Land and office premises available on lease for investor development
• Readily built warehouse , factory units and office premises for lease
• Executive office suites
• On-site accommodation for  personnel of the investor
• Transportation links by air, by sea and by road
• Abundant energy at low costs
• Low cost of living and High Standards

How to set up a business in a Dubai free zone?

Each free zone has its own set of laws. You can set up a business in the following ways.

• Branch of a foreign company that is outside of the UAE or a branch of an offshore company
• Free Zone Establishment/Company .FZE or FZC are limited liability companies owned by an individual or a corporate. Free Zone Establishment has only one shareholder. Free Zone Company can have 2 to 5 shareholders. Free Zone Limited Liability Company is an independent company incorporated by an individual and all the shareholders are natural persons. Free Zone Limited Liability Company Corporate (FZ LLC) is a company incorporated by another corporate and the shareholder of the FZC is a company.

Limitations in a free zone

You may have many factors to consider before deciding on a free zone that is appropriate for a new business set up. These factors include location, infrastructure and facilities, licensing process of the proposed commercial activity, and the popularity of a particular free zone.

Dubai has two major Free Zones; Jebel Ali Free Zone and Dubai Airport Free Zone where import, export, manufacturing, processing, assembling, packaging, distribution, consolidation, storage and logistics are the primary functions. Dubai Healthcare City serves as a center for healthcare-related operations, Dubai Media City specializes in broadcasting, advertising, and public relations; Dubai Internet City is dedicated for web-based services, IT support, and software development.

Experienced consultants provide consulting and suggestions on the right choice of a free zone that is suitable for your business activities and take on the full responsibility to complete processes involved in establishing your company in Dubai or any where in the UAE.

dubai free zones | dubai airport free zone

Article source:
http://goarticles.com/article/Setting-up-a-business-at-Free-Trade-Zone-in-Dubai/4179354/