Submission of the Audited Financial Statements is a Regulatory Compliance. According to the Dubai Development Authority - DDA,  in Compliance with the Private Companies Regulations of 2016, Licenses type FZ-LLC Company and Branch Company, are required to submit the Annual Audited Financial Statement along with the Summary Sheet (as per DDA Template) within 6 Months form the end of the respective financial year. ​

The requirements of the Audited Financial Statement for an FZLLC are provided in Regulations 63- 68 of the Private Companies Regulations of 2016.
Where the  latest Annual Financial Statements should be submitted ? 
​The Company is required to submit the duly filled Financial Statements Report Summary Sheet along with the Audited Financial Statement on the AXS Portal of the DDA.
Is the submission of the most recent Annual Financial Statements a Mandatory obligation ? 
The Submission of the Annual Financial Statements is a mandatory obligation. The requirements of the Audited Financial Statement for an FZ-LLC and Branch are explained in DDA Circular No. 421, Dated September 19, 2022.​
What is a Financial Year (Fiscal Year) ? 
Financial year is a period of 12 months with the exception of the first financial year of the company, which could be from a minimum of 6 months to a maximum of 18 months.  Most of the companies opt for the January xxxx  - to December xxxx as  financial year in general, more popularly known as the year ending 31 December xxxx. Some companies do follow the odd, financial year ending such as 31 March xxxx, 30 June xxxx and 30 September xxxx.

it should be noted that the financial year is also referred as the fiscal year in most of the times in legal terms. 

​What it means : The Submission of Audited Financials and Summary Sheets ? 
​Submission of Audited Financials and Summary Sheets for the Latest  Financial Year is an obligation on the DDA based entities like FZ-LLC Companies and Branch Companies. Submission of the financials is to be made on the AXS Portal on or before 30 November 2022. It should also be noted that from the next financial year the submission must be made within 6 month from the end of the relevant financial year of the respective companies based in DDA. 
​What if the company is newly incorporated ? 
The Company which has been newly registered and didn't complete its first financial year is required to provide the Audited Financial Statement within six months from its first financial year end. 
​What about the Branch (office) Company ?​
A branch (office) Company may either, choose to submit the consolidated Audited Financial Statement of its parents, or a stand-alone extract of the financials of the branch office operation only. 
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