Since its establishment in 1995, the Sharjah Airport International Free Zone (SAIF Zone) has become a preferred destination for businesses looking to invest in Sharjah. To ensure transparency and regulatory compliance, the SAIF Zone Authority requires all companies operating within the zone to have their financial accounts audited by auditors registered with the SAIF Zone. An audited set of financials is mandatory for renewing the Trade License, and companies must adhere strictly to this requirement to avoid financial discrepancies or potential legal consequences. Only auditors listed with the SAIF Zone are permitted to conduct these audits.
SAIF Zone is renowned for its efficient business setup procedures and prime location. Sharjah, known as the industrial backbone of the UAE, hosts 40% of the nation’s industries. SAIF Zone’s strategic position offers excellent connectivity via air, sea, and land, with proximity to Sharjah International Airport, Port Khalid, Port Khorfakkan, and Hamriyah Free Zone Port. Businesses benefit from Sharjah’s cost-effective living conditions, affordable labor, and minimal operational costs.
To comply with SAIF Zone regulations, companies must maintain accurate and up-to-date books of accounts. These records should provide a clear description of the company’s financial standing, helping ensure that the balance sheets and profit and loss accounts comply with IFRS.
Accounting records must include:
These records must be kept at the company’s registered office within SAIF Zone, with access granted to shareholders or representatives for inspection. The company’s first financial year is determined based on its incorporation date.
To facilitate a thorough audit, the following documents must be provided:
AARMAK, a trusted auditing firm registered with the SAIF Zone Authority, offers expert auditing services to help companies meet both local and international regulatory standards. Our team of skilled chartered accountants ensures that companies operating in SAIF Zone maintain accurate financial records, allowing them to renew their trade licenses without complications.
AARMAK’s auditors are proficient in evaluating financial statements and supporting documents, providing a true and fair opinion on your company’s financial health. If any weaknesses in internal controls are identified, we issue a management letter to help guide corrective actions. Many companies in SAIF Zone rely on AARMAK’s services to ensure timely audit reports and seamless compliance with SAIF Zone regulations.
With years of experience in assisting businesses across various sectors, AARMAK is committed to helping SAIF Zone companies achieve financial clarity and long-term growth.
Provides expert auditing, accounting, and business services in Dubai, leveraging 20 years of experience to ensure compliance and drive growth for our clients.