License Renewal Process Requirements FAQs

1. Who is required to submit Financial Statements as part of the renewal process?

All IFZA licensees (an FZCO or Branch)

2. When must the Financial Statements be submitted to IFZA?

Effective from the 30th of September 2025, a company will need to submit their Financial Statements during the renewal of their trade license. This submission will be required on an annual basis, during the process of trade license renewal Companies that renew their license before the 30th of September 2025 will not be required to submit Financial Statements as part of the renewal process However, submission will be required for the subsequent trade license renewal

3. What period should the Financial Statements cover?

The Financial Statements should cover the most recently completed financial year as of the trade license renewal date

4. How can a company verify its financial year?

All companies are required to determine the financial year they would like to follow when they incorporate the company. A company's financial year is stipulated in the Articles of Association ("AOA") of the company (refer to Section 75 of the AOA)

5. What accounting standar...