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According to recent amendments of Ras Al Khaimah Economic Zone (RAKEZ) Companies Regulations, please be informed that all RAKEZ licensed companies will now be required to submit audited financial statements on an annual basis.

Every company has to submit the audited financial statements to RAKEZ within six (6) months from the end of its financial year.

The first submission of audited financial statements will be required in 2020. The audited financial statements for 2019 and for subsequent years thereafter will need to be submitted to the RAKEZ authority within six (6) months from the end of the company’s financial year

It is a requirement for all the RAKEZ companies to submit audited financial statements prepared by RAKEZ approved auditors

An approved auditor is a UAE auditing firm that is enrolled in the RAKEZ approved auditors’ list under RAKEZ’s implementing regulations to provide auditing services to RAKEZ companies and ensure that the audited financial statements of these companies represent a true and accurate financial position.

In the link below you have find a list with the RAKEZ approved auditors:

https://rakez.com/Portals/0/Download/Form-Docs/AUDITORS-LIST/Auditors-List.pdf

Please note that if a company fails to submit the audited financial statements on time, a fine of AED 2,500 will be imposed on the company and may lead to suspension of services by RAKEZ.

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