Dubai Free Zone Annual Audit

We arrange the yearly audit of your Dubai free zone company's financial statements with a UAE-registered audit firm, so you meet your zone's filing rules and the Corporate Tax audit requirement for Qualifying Free Zone Persons.

Description

Dubai free zone companies usually need audited financial statements every year for two separate reasons: their free zone's own rules, and UAE Corporate Tax. The two have different deadlines and different auditor rules, so it's worth knowing which apply to you before the year ends.

Corporate Tax comes first for most companies. Ministerial Decision No. 84 of 2025, which covers tax periods starting on or after 1 January 2025, requires every Qualifying Free Zone Person (a free zone company claiming the 0% rate on qualifying income) to prepare audited financial statements, whatever its revenue. Any other taxable company with revenue above AED 50 million needs them too. If a Qualifying Free Zone Person misses one of its conditions, it loses the 0% rate for that period and the following four. The Corporate Tax return is due within nine months of the financial year-end, so the audit has to be signed before then.

Each zone then sets its own filing rule. DMCC requires every member company, including branches, to upload its audited statements and the auditor's signed summary sheet through the Member Portal within six months of year-end, and the auditor must be on DMCC's Approved Auditors List. JAFZA asks FZE and FZCO companies for an annual audit report through the Dubai Trade portal. DAFZ publishes its own list of approved auditors. IFZA has collected financial statements at every licence renewal since 30 September 2025: a simplified statement on IFZA's template if turnover is AED 3 million or less and the company had nine or fewer employees, and full audited statements otherwise. DIFC applies its own Companies Law. For Meydan, DSO, Dubai South and other zones, we confirm the current rule with the zone.

One point catches IFZA companies out: even when IFZA accepts a simplified statement for renewal, a company claiming Qualifying Free Zone Person status still needs audited statements for Corporate Tax. In most cases one audit serves both purposes; IFZA accepts an audit already prepared for the Federal Tax Authority.

Zone filings are often tied to licence renewal, and a late filing can hold up renewal or lead to penalties under your zone's rules. Banks also ask for audited accounts when they review your corporate bank account or a credit application.

Octavon is not an audit firm. We engage a UAE-registered audit firm that meets your zone's rules, get your records ready, manage the auditor's questions and file the signed statements with your zone where we have access. The fee depends on your transaction volume, how complete your books are, the number of bank accounts and currencies, stock, related-party transactions and whether this is your first audit. Contact us on WhatsApp or live chat for a quote.

What's Included

Check of which rules apply: your zone's filing rule, Qualifying Free Zone Person status and the AED 50 million revenue test
Engagement of a UAE-registered audit firm that meets your zone's auditor rule (for example DMCC's approved list)
Pre-audit review of your books, bank reconciliations and trial balance
Bookkeeping catch-up where records are incomplete (scoped and quoted separately)
Coordination of the auditor's queries and requests
Signed audited financial statements and, where the zone needs it, the auditor's summary sheet
Filing with your free zone (DMCC Member Portal, Dubai Trade for JAFZA, IFZA renewal form) where you give us access
Deadline reminder for next year's audit

Requirements / Prerequisites

A Dubai free zone licence (DMCC, JAFZA, DAFZ, IFZA, Meydan, DSO, Dubai South or another zone)
A completed financial year, or one about to close
Accounting records, or bank statements and invoices from which they can be rebuilt
Corporate Tax registration with the Federal Tax Authority
Last year's audited statements, if the company was audited before

Required Documents

Trade licence, Articles of Association and share certificates
Corporate Tax registration certificate, and VAT certificate if registered
Trial balance and general ledger
Bank statements for every company account for the full year
Sales and purchase invoices and key contracts
Payroll and employee records, if you have staff
Fixed asset register and stock records, if relevant
Loan agreements and details of dealings with shareholders and related companies
Previous year's audited statements, if any

Our Process

Scoping call: zone, year-end, revenue, staff numbers and Qualifying Free Zone Person status
Confirm your zone's current rule and set dates that meet both the zone deadline and the Corporate Tax return deadline
Engagement letter signed with the audit firm
Records collected and checked; catch-up bookkeeping agreed if needed
Audit fieldwork and auditor queries
Draft statements reviewed with you
Management representation letter signed and audit report issued
Statements filed with the zone where required and kept for Corporate Tax (records must be kept for seven years)

Pricing

Contact via WhatsApp

Frequently Asked Questions

Do Dubai free zone companies need an audit?

Most do. Any free zone company claiming the 0% Corporate Tax rate as a Qualifying Free Zone Person must have audited financial statements, whatever its revenue. On top of that, zones such as DMCC and JAFZA require yearly audited statements, and IFZA requires audited statements at renewal unless the company qualifies for its simplified statement.

What is the DMCC audit deadline?

DMCC's current guideline says audited financial statements and the auditor's summary sheet must be uploaded through the Member Portal within six months of the financial year-end. The auditor must be on DMCC's Approved Auditors List.

Does IFZA require audited accounts?

Since 30 September 2025, IFZA collects financial statements at every renewal. Companies with turnover of AED 3 million or less and nine or fewer employees can use IFZA's simplified template; everyone else submits audited statements, from any registered UAE auditor. A company claiming 0% Corporate Tax still needs an audit for tax purposes.

Do I have to use a free zone approved auditor?

It depends on the zone. DMCC requires a firm on its Approved Auditors List and DAFZ publishes its own list. IFZA accepts any registered UAE auditor. We use a firm that meets your zone's rule.

When must the audit be finished for Corporate Tax?

Before you file your Corporate Tax return, which is due within nine months of your financial year-end. Your zone's deadline may be earlier; DMCC's, for example, is six months.

My company was inactive. Do I still need an audit?

Possibly. DMCC's filing rule applies to all member companies, and other zones have their own position on inactive companies. Inactive companies also still have Corporate Tax obligations. We check your zone's rule before you decide.

How much does a free zone audit cost?

It depends on your transaction volume, the state of your books, the number of bank accounts and currencies, stock, related-party transactions and whether it's your first audit. Message us on WhatsApp or live chat for a quote.