10
Feb 2020
There are a number of free trade zones available to a business in the UAE. These free trade zones aim to provide the best possible services to a company so that the business can reach its maximum potential and grow even more. These free zones focus on a specific industry that allows the government to target all the different sectors present in the country. One such economic zone is the Ras Al Khaimah Economic Zone, better known as RAKEZ.
Ras Al Khaimah Economic Zone (RAKEZ)
RAKEZ is situated in the heart of the northernmost emirate, Ras al Khaimah, and encompasses more than 33 million square feet. This makes it one of the largest economic zone in the country and is a home for more than 14,500 companies. This economic zone caters to freelancers, SMEs, and Multi-National Companies from 50+ countries.
The Ras Al Khaimah Economic Zone (RAKEZ) is a government initiative to merge two different free zones, which are the Ras Al Khaimah Free Trade Zone (RAKFTZ) and Ras Al Khaimah Investment Authority (RAKIA). The two different free zones were merged with the aim of providing better infrastructure and services to the businesses.
The strategic location of the economic zone assists businesses in the premises to penetrate the local as well as foreign markets. It also provides access to the markets of South Africa, the Middle East, Europe, and Southern and Central Asia.
Audit in Ras Al Khaimah Economic Zone (RAKEZ)
Maintaining the various financial reports of a company is very important. The various audited financial statements also help in the preparation of the different management reports. These management reports will, in turn, be used for planning the future of the business. The audited statements also help in generating confidence among the potential investors of the company.
Keeping this in mind, the management of Ras Al Khaimah Economic Zone has now made it compulsory to provide a copy of the audited financial statements of the company. These statements need to be submitted annually, and this rule applies to both industrial and non- industrial companies. The exception to this rule is a branch company which is registered in RAKEZ that provided any branch company registered in RAKEZ that utilizes the services of a group auditor.
A company licensed in RAKEZ must submit an audited copy of the financial statements of the company for the year 2019 within six months from the end of the company fiscal year. According to the RAKEZ Company Regulations, each of the registered company must appoint a RAKEZ Approved Auditor to handle their finances.
JAXA Chartered Accountants – Approved by RAKEZ
In this world, every business requires expert business and financial advice. It is essential to have a financial helping hand that will understand the requirements of the business and provides the necessary Auditing and Accounting Services. Such business advisors will help you to reduce costs, avail the best services, and also add value to the business.
JAXA Chartered Accountant is an ISO 9001-2015 certified CA Firm. JAXA comprises a team of auditors, accountants, and other specialist teams that offer a wide range of services to the companies. These services include Accounting, Auditing, VAT-related services, Feasibility studies, and various other services. JAXA Chartered Accountants is one of the approved auditors in the Ras Al Khaimah Economic Zone, and it assists many clients in RAKEZ.
The mission of JAXA is to be a leading professional firm that has a high ethical and professional standard and delivers exceptional value to its customers, its employees, and also society. In the long term, Vision of JAXA is to:
- To be creative and innovative with a view to improving business processes and wealth for our clients
- To apply the knowledge and experience towards delivering lasting and substantial improvements in business performing for our clients.
- To achieve sustainable, profitable growth through a focus on business excellence and professionalism
We are a reputed and well-known auditor in the United Arab Emirates with head office in Dubai and branch offices in Abu Dhabi, Jebel Ali, Sharjah, and SAIF Zone. We employ a data-driven and methodical method to understand the nuances of the client’s business and suggest services accordingly. If you are looking to know more about the services offered by JAXA, Contact Us. We will be happy to help.