DIFC Approved Auditors and Liquidators

Dawn Consultancy, part of Aabi Chartered Accountants, is registered with the Dubai International Financial Centre (DIFC) as an approved auditor and liquidator for non-regulated DIFC entities: holding companies, family offices, professional services firms, consultancies, technology companies and other businesses that are not licensed by the Dubai Financial Services Authority (DFSA). We have provided audit, accounting and advisory services to more than 100 DIFC companies.

DFSA-regulated firms (banks, asset managers, insurers and similar) must appoint a DFSA-registered auditor, which is a separate register. If you are unsure which category your entity falls into, ask us before you engage an auditor.

DIFC audit and filing requirements

DIFC companies prepare financial statements under IFRS and, unless exempt, must have them audited by a DIFC-registered auditor and file them with the DIFC Registrar of Companies within the period set out in the DIFC Companies Law after the financial year end. The Companies Law exempts certain small private companies from the audit requirement, subject to turnover and shareholder-number conditions; the exemption does not remove the obligation to prepare and file accounts, and it does not apply if the articles or the shareholders require an audit.

Under UAE Corporate Tax, a DIFC company claiming Qualifying Free Zone Person status (0% on qualifying income) must hold audited financial statements regardless of revenue, so many otherwise-exempt small companies still commission an audit.

Our DIFC services

• Statutory audit and filing of accounts with the DIFC Registrar of Companies
• Audit-exemption assessment for small private companies
• Audits supporting Qualifying Free Zone Person status and Corporate Tax returns
• Audits of DIFC holding companies, SPVs, prescribed companies and family office structures
• Bookkeeping, management accounts, VAT and Corporate Tax compliance
• Ultimate Beneficial Owner and data protection (DIFC DP Law) registration support

DIFC company liquidation

A DIFC company is wound up by a voluntary liquidation under the DIFC Insolvency Law, conducted by a liquidator acceptable to the Registrar. Our process:

1. Directors’ declaration of solvency and shareholders’ resolution to wind up and appoint Dawn Consultancy as liquidator
2. Notification to the DIFC Registrar of Companies and publication of the liquidation notice
3. Creditor notice period and settlement of liabilities
4. Cancellation of visas and closure of the DIFC establishment card and Government Services files
5. Clearances from DIFC Authority, the landlord and service providers; return of premises
6. Bank account closure and distribution of remaining assets to shareholders
7. Final liquidator’s account and return to the Registrar
8. Dissolution and removal from the DIFC register

VAT and Corporate Tax deregistration with the Federal Tax Authority is completed alongside the liquidation.

Documents required

• Certificate of incorporation, commercial licence, articles of association
• Bank statements, general ledger and trial balance
• Prior financial statements and audit reports
• VAT and Corporate Tax registration certificates
• For liquidation: declaration of solvency, shareholders’ resolution, passport copies, employee and visa list, lease

Frequently asked questions

Other free zones we serve

Get a quotation

Email info@dawnconsultancy.com, call +971 55 441 1036, or request a call back.