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Quick answer
At renewal, IFZA requires financial statements — and for a company with revenue below AED 3 million, simplified (management-prepared) financial statements are usually sufficient, rather than a full audit. Fastlane prepares your IFZA simplified financial statements for AED 499 + VAT from your trade licence, MOA, bank statements and transaction records. Once you approve the draft, there are two ways to submit: sign the financials and send them to IFZA yourself, or have Fastlane complete the IFZA form so IFZA sends you the financials to e-sign via DocuSign. Typically ready in a few working days.
“IFZA is asking for financial statements — do I need a full audit?” For most small IFZA companies, no. Simplified financial statements do the job, cost far less, and are quick to prepare. Here’s exactly what they are and how the process runs from documents to a signed submission.
What they are
Simplified financial statements, explained
IFZA increasingly expects companies to submit financial statements at renewal. For a company with revenue below AED 3 million, these can be simplified financial statements — a properly prepared Income Statement and Balance Sheet built from your records — rather than a full audit report. They give IFZA (and the FTA, for Corporate Tax) an accurate picture of the year without the cost and time of a statutory audit.
Simplified vs audited — the AED 3M line
Below AED 3 million revenue, simplified financials are generally sufficient. Above that, or where your activity or circumstances require it, a full audit may be needed. If you’re unsure which applies, it’s worth confirming before renewal.
The documents
What we need to prepare them
- Shareholder passport and Emirates ID copy (if available)
- Trade licence copy and Memorandum of Association (MOA)
- Bank statements for the financial year
- Internal financials, if you already have any
- Receivables / payables list as at the year-end date
- Sales, purchases and expenses for the year — essentially all your transactions
The process
From documents to a signed submission
- Share the documents above.
- We prepare the draft financial statements (Income Statement and Balance Sheet) and send them for your review and approval.
- Once you’re happy, the financials are signed and submitted to IFZA.
The useful part
Two ways to sign and submit to IFZA
This is where people get stuck — so here are both routes clearly:
| Option | How it works |
|---|---|
| A. You submit | You sign the prepared financial statements and send them to IFZA yourself. |
| B. We complete the IFZA form | You share IFZA’s renewals contact with us; we fill in the IFZA form using the prepared financials, and IFZA sends you the financials to e-sign via DocuSign. We confirm once submitted. |
Option B is usually the smoother path — the numbers are entered exactly as prepared, and you simply e-sign what IFZA sends back. Either way, the figures are the same; it’s just who keys them into IFZA.
Fee & timeline
What it costs and how long it takes
Fastlane prepares IFZA simplified financial statements for AED 499 + VAT. From receipt of your complete documents, the draft is typically ready within a few working days for your review, after which it’s signed and submitted by whichever route you prefer. Because these financials also support your Corporate Tax position, having them prepared properly does double duty — renewal and tax in one set of accounts.
Need IFZA financial statements for your renewal?
We prepare your simplified financial statements for AED 499 + VAT, ready in a few working days — and handle the IFZA submission, whether you sign yourself or e-sign via DocuSign.
Related reading
IFZA renewal cost breakdown: what you should pay →Changing your IFZA Professional Partner →Related Fastlane services
FAQ
What are IFZA simplified financial statements?
They are management-prepared financial statements — an Income Statement and Balance Sheet built from your records — that IFZA accepts at renewal for companies with revenue below AED 3 million, instead of a full statutory audit. They give IFZA and the FTA an accurate picture of the year without the cost and time of an audit.
Do I need audited financials for IFZA, or are simplified enough?
For a company with revenue below AED 3 million, simplified financial statements are generally sufficient for IFZA renewal. Above that threshold, or where your activity or circumstances require it, a full audit report may be needed. If you are unsure which applies to you, it is worth confirming before you renew.
What documents are needed to prepare IFZA financial statements?
Typically the shareholder passport and Emirates ID (if available), the trade licence and MOA, bank statements for the financial year, any internal financials you already have, a receivables and payables list as at the year-end, and your sales, purchases and expenses for the year — essentially all your transactions.
How do I submit financial statements to IFZA?
There are two ways. You can sign the prepared financial statements and submit them to IFZA yourself. Or your consultant can complete the IFZA form using the prepared financials, after which IFZA sends the financials to you to e-sign via DocuSign. Both routes use the same figures — the difference is only who enters them into IFZA.
How much does IFZA simplified financial statement preparation cost?
Fastlane prepares IFZA simplified financial statements for AED 499 + VAT. This covers preparation of the Income Statement and Balance Sheet from your records, ready for your review, approval and submission to IFZA at renewal.
How long does it take to prepare IFZA financial statements?
From receipt of your complete documents, the draft financial statements are typically ready within a few working days for your review. Once approved, they are signed and submitted to IFZA by whichever route you choose — self-submission or via the IFZA form and DocuSign e-signature.
General guidance on IFZA simplified financial statements, current as of July 2026; not tax or audit advice. Whether simplified financials or a full audit are required depends on your company’s revenue, activity and IFZA’s requirements at renewal, which may change. Confirm your position with us or IFZA before acting.