Document retrieval is becoming more time-consuming. There is more risk of non-compliance with regulations. Professional secure document storage is an emerging solution that businesses throughout Dubai and the UAE are using as a means of safeguarding their important documents, and freeing up precious office space and ensuring that they are meeting all of their compliance obligations under UAE law. Risks related to compliance are on the rise.
In Dubai and throughout the other Emirates, where many organisations can be classified as progressive thinkers, the answer to these compliance-related risks is professional confidential document storage.
This type of storage is an off-site solution to the safe and efficient organisation of your Corporate Archive by separating these documents from your existing office space, protecting important documents, freeing up precious office space, and guaranteeing your compliance with UAE regulations.
SafeStorage Dubai has developed a compliance-ready secure document storage product line that is specifically geared towards businesses in the UAE. Whether businesses are law firms located in the DIFC, medical offices in Jumeirah, accounting firms in Business Bay, or Government contractors in Abu Dhabi.
SafeStorage will provide every company with a secure storage facility, with advanced security features and controlled access systems that are required for large-scale document management.
The Corporate Document Challenge in the UAE
In the UAE, the regulatory requirements placed on businesses are stringent. The UAE Commercial Companies Law requires companies to retain Financial Records (including supporting documentation) for at least 5 years.
Similarly, the UAE VAT Law also requires a company to maintain its Tax Records for at least 5 years from the end of the tax year in which they are filed. It is common for legal documents, HR files, or Contracts to have retention obligations that exceed 5 years depending on the applicable law and the industry.
However, most offices in the UAE were not designed for the purpose of storing large quantities of paper records. The cost of high-quality office space in places like Dubai, Abu Dhabi and Sharjah is high.
Using it for the storage of boxes containing records is costly to operate and costly for the business. That is why off-site secure document storage has become a standard practice for professionally managed businesses within the UAE.
What Makes Document Storage Truly Secure?
The term secure is often used in the storage industry; however, securing your corporate documents requires more than just having a locked and secured facility to store them. Your corporate documents must be:
- 24/7 CCTV Surveillance: The continuous surveillance of all areas of the facility allows you to be assured that your records are protected at all times, night and day.
- Fire Protection Systems: Your documents will be protected from the loss of fire by using the Civil Defence Approved Fire Suppression systems.
- Pest Management: You can protect your documents from damage related to insects or rodents by using a pest control Management Company regularly as part of your documents' long-term care plan.
- Catalogued Access: SafeStorage's document storage solution has organised, catalogued access so that specific boxes or files can be retrieved on request without having to sort through folders, binders, etc.
Industries That Rely on Secure Document Storage in the UAE
Some of the industries that depend on secure document storage services in the United Arab Emirates are many and varied. Organizing your company's archives through secure document storage would be considered a complete business objective that is universal to all industries.
- Law Firms and Legal Consultancies: Chain of custody tracking, confidential privileged documents, and long-term case file retention all make the need for secure document storage essential for any legal practice in the UAE.
- Medical Practices and Healthcare Providers: Medical records, patient histories, consent forms, and liability insurance documentation must remain compliant with HIPAA's guidelines if they are going to remain in good condition.
- Accounting and Audit Firms: Under UAE law, all financial statements, tax returns, audit trails, and client records must be retained for a minimum of five years. They must also be stored under optimal conditions to preserve their evidentiary value. [Get Free Quotation]
- Banks and Financial Institutions: In accordance with CBUAE/Central Bank of the UAE regulations, banks must retain extensive transaction documentation; KYC files; and regulatory correspondence in securely retrievable file structures.
- Real Estate Developers and Brokers: Preserve Title Deeds, Sale Agreements, RERA Communication & Wood Records According to Law, For Years After Closing Transactions.
- Government Contractors: Maintain Contracts, Procurement Records, Project Documents, & Compliance Files for All Government-Related Projects Must Have Maximum Amount of Secure Document Preservation.
Organizing Corporate Archives: A Practical Framework for UAE Businesses
This Applying the Principles of Effective Organizing Corporate Archives As A Process Which Begins With A Clear Taxonomy And Ends In A Retrieval System Which Is Always Efficient. Therefore, Here Is A Practical Framework To Use:
Step 1: Document Audit and Classification
All documents must be audited & classified before being stored Off-Site in Secure Document Storage. Documents must be classified according to, Type; Retention Period; Access Frequency; and Confidentiality Levels.
Step 2: Physical Organisation and Labelling
Place Documents In Standard, Clearly Labeled Archival Boxes, Create Box Level Inventories and Have SafeStorage's Staff Provide Assistance with This Arrangement and Structure Your Archive Logically Before Its Placement In Storage.
Step 3: Off-Site Transfer to Secure Storage
SafeStorage provides you with a door-to-door service to pick up your labelled archive boxes from anywhere in Dubai or the UAE and transport them to our secure storage facility. Upon arrival at our facility, your archive boxes will be entered into our access catalogue.
Step 4: Ongoing Access and Retrieval
Retrieving your archived documents once they have been placed in our secure document storage is easy. You can request specific boxes or files from your account portal at any time; we will either provide you with access to our facility or arrange delivery of your request to your business.
Step 5: Scheduled Destruction
Documents with retention requirements under the UAE Law must be destroyed safely when they reach their retention dates. To assist with this process, SafeStorage provides an ongoing schedule for destroying expired documents as required by the data protection act.
The Business Case: Cost of Office Space vs. External Document Storage
Meanwhile, at SafeStorage, you can find a secure document storage solution for as little as AED 99/month for smaller units, making the costs of the larger archive units much lower than equivalent office space.
There is no question that there is a financial benefit to organizing corporate archives off-site. As a result, companies in the UAE can now use their expensive office space for more meaningful and productive purposes and still maintain compliance with government regulations while allowing for easy access to their records through professional secure document storage. Companies will receive an immediate ROI and an ongoing ROI through the use of this type of storage.
Why SafeStorage Dubai Is the Trusted Choice for UAE Businesses
Since 2015, SafeStorage has served the Dubai business community and has over 500 happy customers. As a result, SafeStorage has developed a reputation as the most trusted and reliable provider of secure document storage and professional organization of corporate archives in the UAE.
Our services will provide you with enterprise-level security combined with the flexibility to grow or shrink your business as needed:
- Dedicated Storage Consultant: Each business has a dedicated storage consultant who understands the differences between the types of documents you have, how long you need to keep them, and how often you need to access them, all while designing a solution that will work best for your individual business needs.
- Same-Day Availability: For organisations with immediate archival needs - such as relocating an office, having to conduct a compliance audit, or dealing with a sudden influx of records - SafeStorage can activate your unit and schedule a pick-up within a matter of hours.
- Transparent Pricing: All prices are VAT inclusive and there are no hidden costs, including administration charges. We will charge you the same price every single month on each of the units you have.
- Flexible Plans: SafeStorage services are month-to-month with easy upgrades to accommodate your archive growth. You will not be contractually bound to us for more than the one month unless you wish to take advantage of long-term better rates.
Frequently Asked Questions (FAQs)
1. Why do UAE companies require secure document storage?
UAE regulations require all companies to store their financial, taxation, legal and HR files for different term lengths ranging from 5-7 years, expiring based on the company's size and type of document.
Secure document storage provides all the features necessary to store these files in an access-controlled and inventory-catalogued manner, allowing businesses to meet the legal retention requirements for these records effectively and free up valuable and costly office space.
2. The benefits of using off-site organized corporate archives include greater efficiency in business operations.
Since retrieval time is substantially decreased when documents are kept in a structured catalogue format off-site compared with going through physical stockpiles of documents on-site. Staff can spend less time searching for records, and all results for compliance audits will be received faster.
Also, when documents are organized by a professional archivist, they are no longer considered a liability but rather an asset capable of being stored and accessed easily.
3. SafeStorage Dubai offers the ability to store the above-mentioned categories of documents?
Such as Financial Statements, Tax Purchase Orders & invoices & VAT records, Legal contracts & agreements, HR/payslips & files, Medical records, Board records, RERA files & real estate documents, Audit records, Government procurement history, and much more.
Additionally, SafeStorage uses purposely-built storage designed specifically to provide optimum preservation conditions for paper-based records over extended periods.
4. What is the duration of record retention in the Safe Storage premises?
All records may be stored short-term during an office relocation or for multi-year archives. The plans are flexible through month-to-month payment and there are no penalties for maintaining an active record; therefore, all records can be kept in accordance with the United Arab Emirates statute of limitations either for a period of five, seven, or even longer.
5. What systems does Safe Storage have in place to eliminate the potential for damage to my records?
These systems will keep your record files and digital media (CDs/DVDs) and all archival materials safe from damage (fire, water, heat or across all forms of pest-related destruction) that would not otherwise occur within standard office conditions.
6. Can I always get specific documents from my archive from Safe Storage when I need them?
Safe Storage has a catalogued access storage system for all records, meaning you will send a specific box requests or file requests via your online customer portal, and we can prepare your requested records for collection at either one of our locations or be shipped from either shipping location to your office or address anywhere in Dubai or UAE., without that you take the time to search through your complete archive.
7. Is it possible for SafeStorage to collect documents from any of our offices throughout the United Arab Emirates?
Our door-to-door pickup and delivery service covers all of the major business districts within Dubai such as DIFC, Business Bay, Downtown Dubai, JLT, JVC, Media City, Al Quoz, Deira,plus all additional emirates within the entire UAE available upon request.
Final Thoughts
Since the UAE has grown into one of the most regulated and commercially active areas on the planet, providing a secure storage location for your documents is not just a back-office afterthought; it is also one of your most important business responsibilities. All businesses that generate documents such as contracts, financial records, client files, or any other compliance documents have a responsibility to be able to properly store, retrieve, and dispose of their documents.
When corporations need to archive their records, having access to a safe storage facility such as SafeStorage Dubai can take that once painful legal or administrative task, with large amounts of time and effort spent searching for lost documents, and turn it into a streamlined, cost-effective way to ensure that your documents are stored in a safe environment from the UAE elements, with protection from unauthorized access, and maintain full compliance with the duration of the UAE's retention requirement, with no wasted time locating misplaced documents/pages from messy stacks in your office.
There is a strong financial incentive to replace costly high-quality office space with predicted off-site tracked safe storage of documents. This could result in both a reduction of your compliance risk as well as immediate real savings.
This really makes sense as an operational choice for any business with record-keeping requirements within the UAE, including law firms, medical offices, banks and other businesses with corporate record-keeping requirements.[Here More Information]
SafeStorage has organized corporate archives within the UAE since 2015 and is a trusted partner of many corporations. In addition to providing day-to-day authorization and potential access, we also offer door-to-door delivery, catalogue-based tracking and 365-day tracking of your archived documents with operational and physical security.
Protect your corporate documents today. Get a free quote at safestorage.ae or call +971 50 577 3388