External testing is mandatory in the Fujairah Free Zone (FFZ), one of the most important free zones in the Emirate of Fujairah. Located next to Fujairah International Airport and Fujairah Port, the Fujairah Free Zone provides unparalleled opportunities and services for start-ups and established businesses. Companies operating in the Fujairah Free Zone also have weekly feeder vessels to all ports in the Red Sea, Arabian Gulf, Pakistan, Iran and India. Mainline service for industrial vehicles from North America, Northern Europe, the Mediterranean and the Far East arrives weekly, with services running once a week in North America and twice a week in the Far East.
The Fujairah Free Zone provides easy access to the world's major sea routes, along with streamlined procedures and processes, as well as international airports and beautiful ports. All of these features and equipment make FFZ an ideal place for business.
Companies doing business in the FFZ can enjoy the following benefits:
Complete tax exemption for corporate and personal taxes
100% foreign ownership
There are no restrictions on the repatriation of capital
There are no restrictions on the employment of foreigners in the Fujairah Free Zone
The Fujairah Free Zone Authority has appointed auditors on the list of FFZA Approved Auditors to all business units operating in FFZ to report on the financial and operational aspects of the business, and the company's financial information is true. It is a fair view and is created in accordance with applicable rules and regulations. Push Digits Chartered Accountants are FFZ-approved auditors who can conduct external audits of companies registered with FFZ.
FFZA requires companies registered with FFZ to conduct business activities similar to the annual financial statements audited annually by FFZ approved auditors for the following reasons:
Only auditing companies approved by FFZA can conduct annual audits of companies registered with FFZA. FFZA has its own standards and procedures for issuing approvals to the auditing firms of the auditing firms operating in FFZ. In order for an audit firm to maintain its position as an authorized auditor for FFZ, it must prove to FFZA that its employees are updating their knowledge and skills through changes in accounting and auditing standards, as well as methods.