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Audited financial statements must be submitted to the Dubai Development Authority (DDA)

FZ LLCs and branch offices are expected to compile and submit their financial statements and annual returns each fiscal year in accordance with DDA Private Companies Regulations 2016 Circular 421. Regulations 63u201368 of the Private Companies Regulations of 2016 outline the requirements for the Audited Financial Statement for a FZLLC.<br>

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Audited financial statements must be submitted to the Dubai Development Authority (DDA)

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  1. Audited financial statements must be submitted to the Dubai Development Authority (DDA) FZ LLCs and branch offices are expected to compile and submit their financial statements and annual returns each fiscal year in accordance with DDA Private Companies Regulations 2016 Circular 421. Regulations 63–68 of the Private Companies Regulations of 2016 outline the requirements for the Audited Financial Statement for a FZLLC. audit services With regard to tax rules, economic substance laws, anti-money laundering legislation, and laws aimed at preventing the financing of terrorism, this regulation seeks to ensure compliance. A branch office has the option of submitting the parent company’s consolidated audited financial statement or a separate extract of the branch office’s operations’ financials.

  2. By November 30, 2022, businesses from the free zones listed below must submit their most recent audited financial statements. In5, Dubai Design District, Dubai Quarters, Dubai Internet City, Dubai Outsource City, Dubai Industrial City, Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, and Dubai Science Park. accounting firms The financial statement should be submitted through the AXS site, together with the correctly completed financial Statement Report Summary Sheet. Upkeep of accounting records, creation of financial statements, and selection of auditors (Regulation 63–68)

  3. Every firm must have books of accounts that follow widely accepted accounting standards, and the records must be kept at the company’s registered office. It is required to keep accounting records for at least 8 years. Each fiscal year of the business requires the preparation of financial statements.is something that the Directors must be sure of. An auditor must be chosen by the company’s members to review its financial statements. The Authority will closely monitor the filing of the Audited Financial Statement, and in the event of noncompliance, the Authority may, in its sole discretion, decide to enforce Decision No. (2) of 2017.

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