The IFZA Free Zone in Dubai has introduced new license renewal rules. Starting from September 30, 2025, every company registered in IFZA (FZCO or branch) must submit financial statements for the most recently completed financial year. This requirement applies to all license holders without exception.
When and what type of report must be submitted
If your license is renewed before September 30, 2025, no financial statements are required. From this date onward, submitting financial documents annually becomes mandatory.
The financial statements must cover the full financial year of the company. The financial year is defined in the Articles of Association at the time of incorporation.
Simplified or full reporting: IFZA criteria
IFZA has established two reporting formats — simplified and full.
Format | Conditions | Who prepares |
Simplified Financial Statements | • Turnover up to AED 3 million• No more than 9 employees | Completed using the official IFZA template, signed by the director, manager, or shareholder |
Full Audited Financial Statements | • Turnover above AED 3 million• Or more than 9 employees | Prepared by a licensed auditor in the UAE, following IFRS/IFRS for SMEs |
IFZA accounting standards: which one applies to your company
Depending on annual turnover, IFZA requires different accounting standards:
Up to AED 3 million — Cash Basis. Income and expenses are recorded only when actual payments are made. Suitable for small companies with simple operations.
From AED 3 to 50 million — IFRS for SMEs. Simplified international standards designed for small and medium enterprises. Obligations and receivables must be recorded, providing a more complete financial picture.
Over AED 50 million — full IFRS. Comprehensive international standards requiring detailed disclosure of assets, liabilities, risks, and related parties. Used by large and multinational companies.
This approach reduces bureaucracy for small businesses while ensuring transparency and accuracy for medium and large companies, in line with the UAE Corporate Tax Law.
Submission process
Financial statements must be submitted electronically together with the license renewal application. The report must be signed by an authorized person (director, manager, or shareholder) and uploaded via the IFZA online portal.
Audit as a key condition for renewal
With the new rules, audit has become an integral part of license renewal. For most companies in IFZA, it is mandatory and must be carried out by a licensed auditor in the UAE.
An experienced auditor understands IFZA requirements, applies the right accounting standards, and helps avoid errors that could delay or even block license renewal. The quality of your financial reporting directly impacts the timely renewal of your license — and therefore the uninterrupted operation of your business.
Audit for IFZA businesses with Make Fortune
Make Fortune brings together accountants, lawyers, and auditors who support companies in IFZA at every stage of financial reporting. Working with us means you get not just reports, but full support that reduces risks and strengthens your business.
Make Fortune advantage | Value for the client |
Licensed auditors | Reports are accepted by all free zones and regulators (IFZA, DMCC, JAFZA, DAFZA, RAKEZ, ADGM, DIFC). |
Knowledge of local requirements | Reporting complies with IFZA rules and international standards. |
On-time delivery | All stages are planned in advance to avoid delays and penalties. |
Error minimization | We check figures and provide recommendations, reducing the risk of rejection. |
Full support | From document collection to uploading reports into IFZA, DMCC, or DED portals. |
High-quality reporting | Structured IFRS-compliant reports that not only meet legal requirements but also build your company’s financial reputation. |
Working with a licensed auditor is a guarantee that your business meets IFZA requirements and develops without unnecessary risks.
Submit your request in the form below — we will prepare the audit and help you renew your IFZA license on time.
Make Fortune Expertise
Make Fortune is your one-stop partner in the UAE for legal, accounting, and tax support.
We don’t just advise — we take full responsibility for your business setup and operations:
company formation and structuring;
legal support and contract protection;
accounting and financial reporting without compliance risks;
tax сопровождение (VAT & Corporate Tax): calculation, filing, optimization.
You work with one team — no gaps between lawyers and accountants.
We are an FTA-accredited Tax Agent, meaning we can officially represent you before the UAE Federal Tax Authority.
We also operate a licensed legal practice in the UAE, ensuring your business decisions are not only efficient, but fully compliant and legally protected.
Reduce risks, stay compliant, and focus on growing your business — we handle the rest.
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