DAFZA Approved Auditors and Liquidators

Dawn Consultancy, part of Aabi Chartered Accountants, is an approved auditor and liquidator for companies licensed by the Dubai Airport Free Zone Authority (DAFZA), now part of the Dubai Integrated Economic Zones Authority (DIEZ) together with Dubai Silicon Oasis and Dubai CommerCity. We have audited more than 100 DAFZA companies, from single-shareholder trading FZCOs to branches of multinational groups based around Dubai International Airport.

DAFZA audit requirements

Every DAFZA free zone company and branch must have its annual financial statements audited by a firm on the authority’s approved auditors list and submit the audit report to DAFZA before licence renewal. The authority does not accept reports from auditors who are not registered with it. Audits are performed under International Standards on Auditing and the financial statements are prepared under IFRS.

Since the introduction of UAE Corporate Tax, the audit has a second purpose: a DAFZA company claiming Qualifying Free Zone Person status (0% on qualifying income) must maintain audited financial statements, whatever its revenue. We prepare the audit with both the DAFZA filing and the Corporate Tax return in mind.

Our DAFZA services

• Statutory annual audit and submission to DAFZA for licence renewal
• First-year audits for newly formed FZEs, FZCOs and branches
• Audits supporting Qualifying Free Zone Person status and the Corporate Tax return
• Group reporting packs for parent companies abroad, in IFRS or the parent’s GAAP
• Bookkeeping, VAT and Corporate Tax return preparation
• Economic Substance and Ultimate Beneficial Owner filings where applicable

DAFZA company liquidation

Closing a DAFZA company requires a liquidator acceptable to the authority and a final audited set of accounts. Our process:

1. Shareholders’ resolution to liquidate and appoint Dawn Consultancy as liquidator
2. Liquidation application to DAFZA and settlement of authority fees
3. Publication of the liquidation notice and creditor notice period
4. Visa cancellations, establishment card and immigration file closure
5. Clearances from DAFZA, Dubai Customs, utilities, telecoms and the landlord; return of the leased premises
6. Bank account closure and settlement of liabilities
7. Final audit and liquidator’s report
8. Licence cancellation and issue of the DAFZA deregistration letter

Companies registered for VAT or Corporate Tax must deregister with the Federal Tax Authority; we file the deregistrations alongside the liquidation so the FTA position is closed before the licence is cancelled.

Documents required

• Trade licence, certificate of formation, memorandum and articles
• Bank statements, general ledger and trial balance for the financial year
• Previous audited financial statements
• VAT and Corporate Tax registration certificates
• For liquidation: shareholders’ resolution, passport copies, employee list and open visas, lease agreement

Frequently asked questions

Other free zones we serve

Get a quotation

Send your trade licence and trial balance to info@dawnconsultancy.com, call +971 55 441 1036, or request a call back.