Audit & Assurance
Dubai Biotechnology and Research Park (DuBiotech) is a science park built to encourage biotechnological research, development, and the commercialization of bioscience related products in Dubai. Established in 2005, DuBiotech is an advanced facility that provides state-of-the-art infrastructure to help research institutes, universities and companies achieve their goals. It is also home to innovative businesses that focus on developing new drugs, medical treatments and specialized food products.
DuBiotech has become a hub for scientific exploration as well as business activities. This includes supporting the growth of start-ups through mentorship programs, incubation services and access to world-class facilities. The park also offers its tenants attractive tax incentives such as corporate income tax exemption on profits derived from approved biotechnology activity for 10 years.
Before deciding on a location and proceeding with the business setup in Dubai free zones, you should be aware of the business activities available in the region. They are listed as follows:
DuBiotech is one of the best locations for biomanufacturing firms. These companies can establish their Dubai freezone company in any of the three legal business forms listed below:
1. Limited Liability Company in a Free Zone (FZ LLC)
A free zone LLC must have a minimum capital of AED 50,000, but a company in one of the following segments must have a minimum capital of AED 300,000:
Manufacturing and production activities are classified as-
2. A branch of a company based in the UAE
The company must be registered with the UAE government, and the individual or corporate person must be a UAE resident. There is no minimum capital requirement.
3. Foreign Company Branch
Any foreign-based company can establish a branch in this free zone with no minimum capital requirements. Individuals or corporations are not required to be UAE residents.
The Dubai Biotechnology and Research Park is a hub for biotechnology and research in the Middle East. It is currently home to several multinational companies providing innovative products and services in the industry of biotechnology. To ensure that these companies are compliant with international standards, regular auditing services are conducted by independent auditing firms.
The process of auditing service begins with an assessment of the company's financial record keeping practices followed by an examination of their operational processes for accuracy. A thorough review of internal controls, legal compliance documents, cost estimations, and other areas within the scope of work will be carried out at this stage. Organizations in Dubai Biotechnology and Research Park should be aware that reliable audit reports are essential for meeting regulatory requirements as well as public disclosure obligations.
Reyson Badger provides the best auditing services in Dubai Biotechnology and Research Park. Reyson Badger has been providing high-quality auditing services since its establishment in 2008, and is one of the most experienced auditors in this field. The firm has extensive experience in conducting audits for multinational companies, government organizations, SMEs and non-profit organizations operating within Dubai Biotechnology and Research Park.
Our team of highly qualified professionals have deep knowledge on taxation laws applicable to these organizations as well as an understanding of their operational processes. With our expertise, we are able to provide clients with a comprehensive audit that covers all aspects of their financial statements including income tax returns, balance sheets and cash flow statements. Furthermore, we use the latest technologies to ensure that our audit results are accurate and reliable.