Companies in the Sharjah Airport International Free Zone, known as SAIF Zone, are generally required to file annual audited financial statements, signed by an auditor on the zone's approved list, to renew their licence. Public guidance describes no turnover exemption and points to about 90 days after year-end as the date to plan around.
What is required
| Item | Position in public guidance |
|---|---|
| Audited financial statements | Annual, with no revenue-based exemption mentioned |
| Auditor | On the SAIF Zone approved list |
| Framework | IFRS commonly stated |
| Deadline | Often 90 days after year-end; some sources say three to six months by licence terms |
| Consequence of delay | Renewal can be blocked and visa processing delayed |
These points come from consultancy guidance, not from the zone's rules. Confirm with SAIF Zone before you rely on them. For the broader rules see free zone audit requirements and the setup page SAIF Zone company setup.
Approved auditors
The audit must be signed by a firm on the zone's list. We keep a guide to the list at SAIF Zone approved auditors. Check the list again before you appoint, as it can change.
Corporate tax
If your company relies on 0% corporate tax as a Qualifying Free Zone Person, you need audited statements and must meet the conditions in the law. See qualifying free zone person and qualifying and excluded activities.
A working timeline
- Year-end: close the books; count stock.
- Within 3 weeks: prepare trial balance and schedules.
- Weeks 4 to 8: auditor fieldwork and queries.
- Weeks 9 to 12: sign the report and file with the zone before the date you are working to.
What to prepare
- Licence and share register.
- Trial balance, ledgers and bank statements.
- Debtor and creditor listings.
- Fixed assets and lease agreements.
- Payroll and gratuity; see gratuity provision.
If you miss it
Talk to the zone at once, agree a revised date and get the audit moving. See missed free zone audit deadline.
Example
A trading company in SAIF Zone has a licence renewing in March and a December year-end. It appoints an approved auditor in November, completes an interim review in December, and hands over the final trial balance in the first week of January. The report is signed by mid-February, a full month before the planning date.
Mistakes
- Hiring an auditor who is not on the list.
- Waiting for the renewal notice.
- Differences between accounts and the tax return.
- Missing stock evidence for trading companies.
Next step
See Hamriyah Free Zone audit requirements if you also have a company there, or speak to our audit team.
Trading company checks
Many SAIF Zone companies are traders or service providers. Auditors test revenue cut-off, debtors, stock and supplier balances. Keep delivery notes and shipping documents that match invoices, and agree customer balances before year-end where possible.
Planning calendar
| When | Action |
|---|---|
| Month 10 of the year | Choose an approved auditor and agree fee and timetable |
| Last month of the year | Count stock; confirm major balances |
| First month after year-end | Close books and prepare the trial balance |
| Months two and three | Fieldwork, draft, sign and file |
Keep tax and audit aligned
VAT returns, corporate tax computations and the audited accounts should tell the same story. If you hold a QFZP position, document how income is classified. See free zone to mainland: VAT and corporate tax.
Staff and visa effects
Sources say late filings can affect visa processing, so keep HR and finance on the same calendar. A single deadline sheet shared by both teams avoids missed dates.
Frequently asked questions
Public guidance says yes, annual audited accounts signed by an approved auditor are needed for renewal, with no turnover exemption mentioned. Confirm with SAIF Zone.
Often cited as 90 days after year-end, with some sources giving three to six months. Plan to the shorter date.
An auditor on the zone's approved list.
Renewal can be blocked and visa services delayed.
Yes. Qualifying Free Zone Person status needs audited statements.