Sea and coastal water transport

Sea and coastal water transport falls under the 'Shipping' qualifying activity. Forensic audit focuses on the distinction between 'Time/Voyage Charters' (Qualifying) and 'Bareboat Charters' (Excluded). Auditors will verify if the entity exercises 'effective management' over the vessel's technical and commercial operations from within the UAE Free Zone to satisfy CIGA requirements.

Audit Red Flag

Income derived from 'Bareboat Charter' arrangements where the Qualifying Free Zone Person provides the vessel without crew or management, which may be reclassified as excluded leasing/royalty income.

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