Companies licensed by the Hamriyah Free Zone Authority are generally required to submit annual audited financial statements, prepared by an auditor on the authority's approved list, as part of licence renewal. Public guidance usually cites a deadline of about 90 days after the financial year-end, so plan for that unless the authority tells you otherwise.
What is required
| Item | Position in public guidance |
|---|---|
| Audited financial statements | Annual, for all companies in the zone |
| Auditor | On the authority's approved list |
| Framework | IFRS is commonly stated |
| Deadline | Often quoted as 90 days after year-end; sources vary up to six months depending on licence terms |
| Purpose | Licence renewal and compliance file |
We could not find the authority's rule text in the sources we checked, so confirm the current requirement and deadline with HFZA. See our UAE free zone audit requirements and the page on Hamriyah Free Zone company setup.
Link to corporate tax
A company that wants Qualifying Free Zone Person status needs audited financial statements for corporate tax purposes whether or not the free zone asks. So even if your zone rule were silent, the audit may still be needed. See qualifying free zone person and qualifying and excluded activities.
Choosing the auditor
- Ask the authority for its current approved list.
- Check the firm's UAE registration.
- Confirm experience with industrial and trading companies.
- Agree scope and fee in writing.
- Agree the timeline against the renewal date.
See audit cost in Dubai and Sharjah approved auditors.
What to prepare
- Trading licence and share certificates.
- Trial balance and ledgers.
- Bank statements and confirmations.
- Stock lists and count sheets for industrial or trading companies.
- Fixed asset register; see fixed asset register and depreciation.
- Payroll and gratuity schedules; see gratuity provision.
If you are late
Sources say late or missing accounts can delay renewal and lead to fines. Contact the authority, agree a revised date and get the audit done. See missed free zone audit deadline.
Example
A manufacturing company in Hamriyah has a 31 December year-end and a licence due for renewal in the first half of the year. It appoints an approved auditor in January, counts stock at year-end, and hands over the trial balance by mid-February. The report is signed in March and filed with the renewal papers, ahead of the 90-day planning date.
Common mistakes
- Using an auditor that is not on the list.
- Starting after the renewal reminder.
- No stock count for a stock-heavy business.
- Not budgeting for the audit.
Next step
Plan early and keep records tidy. Our external audit services team can confirm the current rule with the authority and handle the work if we are an accepted auditor for your zone.
Industrial and trading specifics
Many Hamriyah companies hold stock, plant and large payables. Audit teams focus on inventory counts, costing, fixed assets and related-party balances. Prepare count sheets, production records and asset registers early, and plan the stock count around the year-end date.
A simple audit timetable
| Week after year-end | Action |
|---|---|
| 1 to 2 | Count stock; bank and debtor confirmations requested |
| 3 to 4 | Close ledgers; prepare the trial balance |
| 5 to 8 | Fieldwork and queries |
| 9 to 11 | Draft statements, management review, representation letter |
| 12 | Sign the report and submit with renewal papers |
Consistency checks
The audited accounts, your VAT returns and your corporate tax computation should agree on revenue and costs. Differences need explanations. Review them before the auditor does. See VAT vs corporate tax turnover mismatch.
Lease and visa
Check that the lease and visas are in order at the same time as the licence renewal. A missing audit is one of several things that can hold up the whole file.
Frequently asked questions
Public guidance says companies must submit annual audited financial statements, prepared by an auditor on the authority's approved list, for licence renewal. Confirm with HFZA.
Often quoted as about 90 days after the financial year-end. Some sources say up to six months depending on licence terms.
IFRS is commonly stated for free zone audits.
Renewal can be delayed and fines may apply. Contact the authority early.
Yes. Qualifying Free Zone Person status needs audited statements for tax purposes.