AUDITORS IN THE DSO (DUBAI SILICON OASIS) UAE
If your company is in need of External Audit Firm, look no further, A& A Associate can work for you as an independent external auditing firm who can work to provide shareholders and stakeholders confidence that your business is being run efficiently and in full compliance with laws and regulations.
Our audit process is streamlined and prepared in a manner that complies with all applicable accounting standards and we are licensed by the UAE government and registered in order to provide independent external audit reports.
DUBAI SILICON OASIS AUTHORITY (DSOA)
DSOA is a 100% government-owned free trade zone launched in 2004 by the Dubai government. It was established following Law No 16 of 2005 of the government of Dubai, with an objective to provide a platform to promote and facilitate modern technology oriented industries. It is located in the city of Dubai near to the Dubai International Airport, Port Rashid and Jebel Ali sea Port. It is the leading electronic innovation and development hub for technology based industries, in the Middle East region.
There are specific rules and regulations with which the companies operating within the DSOA free zone need to comply with in order to continue as a licensed business entity in DSOA. There are some additional requirements which the businesses need to comply with when conducting business operations outside the free zone but within the UAE.
TYPES OF COMPANIES/BUSINESSES IN DSOA
Business entities that want to operate their business activities within the DSO are first required to establish their legal presence through DSOA and obtain a valid business license with regards to business activities they want to conduct within the DSO. The following are the types of business structures through which an entity can establish its legal presence within the DSO:
1. FREE ZONE COMPANY (FZCO)
A Free Zone Company in DSO is registered with minimum of two shareholders. Shareholders can either be individuals or corporate entities. The minimum capital requirement to establish a FZCO in Dubai silicon oasis is AED 500,000 (with one share representing AED 100,000). A Free Zone Company in DSO enjoys limited liability status.
2. FREE ZONE ESTABLISHMENT (FZE)
A Free Zone Establishment (FZE) is a legal entity which can be incorporated by a single shareholder. The minimum capital required to establish a FZE in Dubai Silicon Oasis is AED 1,000,000.
3. BRANCH OF A LOCAL OR INTERNATIONAL COMPANY
Any local or foreign company can register its branch in the DSO free zone. The branch can only conduct activities that are identical with those carried out by its parent company. There is no requirement for minimum capital in relation to registering a branch in the DSO free zone.
BENEFITS FOR BUSINESSES OPERATING IN DSO
Companies operating in DSO benefit from the following facilities and features:
• No corporate or personal taxes
• 100% repatriation of capital and profits
• 100% foreign ownership
• Exemption from Import & Export taxes
• Virtual office and warehouse facilities
• State-of-the-art IT infrastructure
• Fast-track business set-up and licensing
• Access to a regional pool of qualified technical professionals
HOW WE CAN HELP YOU IN COMPLYING WITH THE EXTERNAL AUDIT REQUIREMENT
A & A associate is a DSO approved audit firm in UAE providing external audit services in the DSO free zone as well as other free zones. We are also registered with major banks and financial institutions in the UAE.
Apart from providing audit services, we are also well equipped to provide accounting, company liquidation and tax consultancy services in the UAE. Our objective is to provide our clients with quality services in the field of audits, accounting, business advisory and management consultancy. In order to meet these objectives we have a team of qualified and experienced audit and accounting professionals who are ready to work for you.