As per DDA Private Companies Regulations 2016 circular 421, FZ LLC’s and branch offices are required to prepare and submit their financial Statement and Annual Return each financial year. The requirements of the Audited Financial Statement for an FZLLC are provided in Regulations 63-68 of the Private Companies Regulations of 2016.
This regulation aims to achieve compliance with the applicable Federal and local laws regarding Anti-Money laundering and Combatting Financing of Terrorism, Economic Substance, and tax laws. A branch office may choose to submit the consolidated Audited Financial Statement of its parents, or a stand-alone extract of the financials of the branch office operations only
Companies from the below listed free zones must submit their most current audited financial statements by November 30, 2022.
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,
Dubai Science Park,
Dubai Design District and
The financial statement and the duly filled financial Statement Report Summary Sheet should be submitted via the AXS portal.
Maintenance of books of accounts, Preparation of Financial statements, Appointment of auditors (Regulation 63 – 68)
Every company is required to maintain books of accounts in accordance with the generally accepted accounting principles and the records shall be kept at the registered office of the company.
Accounting records are to be maintained for at least 8 years.
Financial Statements are to be prepared for each financial year of the company and it is the duty of the Directors to ensure this.
The members of a company shall appoint an auditor to audit the financial statements of the company.
The submission of the Audited Financial Statement will be carefully monitored by the Authority and failure to comply may lead to the implementation of Decision No (2) of 2017 at the sole discretion of the Authority.
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Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
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