Audit requirements differ by free zone, and since corporate tax arrived the question matters more, because your tax return is built on the same accounts.
Zones that require an audit at renewal
DMCC, JAFZA, DIFC, ADGM and Dubai South require audited financial statements to be submitted, usually within 90 to 180 days of the financial year end. Renewal can be blocked until they are filed.
Zones with lighter requirements
IFZA, Meydan, SHAMS, SPC and RAKEZ have historically not demanded audited accounts at renewal for smaller companies, although the position changes and corporate tax makes proper books mandatory regardless.
What to do
Keep monthly books from day one. If your zone requires an audit, appoint an approved auditor before year end so the timeline is comfortable. If it does not, decide with your accountant whether an audit still adds value for banks or investors.
