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Quick answer
Alongside your licence renewal and tax filings, every company carries a layer of basic corporate compliance: statutory records (registers of shareholders and directors), an annual written resolution (recording decisions such as approving the accounts), and UBO register updates under Cabinet Decision 109 of 2023 (beneficial owners at the 25% threshold, updated within 15 days of a change). For a straightforward company this is usually bundled into your renewal and accounting, not billed separately — only non-routine changes (new shareholder, amended articles) are priced on their own.
Ask a company owner about their licence renewal or their tax return and they’ll know exactly what you mean. Ask about their statutory records or their annual resolution and you’ll often get a blank look. Yet this quiet layer of “corporate housekeeping” is a real obligation — and it’s worth knowing what it is and whether you’re already paying for it.
Statutory records
The company’s official registers
Every company is expected to keep statutory records — the official internal registers that show who owns and runs it. For a typical IFZA company that includes the register of shareholders/members, register of directors/managers, and records of key company decisions. They’re rarely dramatic, but they’re what an authority, bank or buyer looks at to confirm the company’s structure is properly documented.
The annual resolution
The annual written resolution
Once a year, the shareholder(s) typically pass an annual written resolution — a short signed document recording key decisions such as approving the financial statements for the year. For a single-shareholder company it’s straightforward, but it should still be done and kept on file. It’s the formal record that the accounts were reviewed and adopted.
UBO register
UBO register updates
Under Cabinet Decision 109 of 2023, every company must maintain a register of beneficial owners — the natural persons who ultimately own or control 25% or more of the company — and keep it updated within 15 days of any change. For most small companies nothing changes year to year, but the register still has to exist and be current. (More in our UBO compliance guide.)
The practical question
Is this included in my package, or extra?
Usually bundled — not a separate bill
For a straightforward company, this basic compliance is typically covered within your existing services: the statutory records, annual resolution and routine UBO updates sit alongside your licence renewal and your accounting package. What’s usually charged separately is non-routine work — a change of shareholder, a new manager, amended articles, or other legal documentation — because that’s a specific amendment rather than routine upkeep.
Why bother
Why the “boring” compliance still matters
Clean statutory records and an up-to-date UBO register are exactly what you need when something does happen — opening or keeping a bank account, passing an AML or UBO inspection, selling the company, or bringing in a partner. Companies that keep this current glide through those moments; companies that don’t end up reconstructing years of records under time pressure. It’s cheap insurance, and for most small companies it’s already part of what you pay.
Not sure your corporate records are in order?
We keep your statutory records, annual resolution and UBO register current as part of your renewal and accounting — so the “boring” compliance is done, and you’re ready for banks, inspections or a future sale.
Related reading
UBO compliance & renewal in the UAE →IFZA simplified financial statements: documents & submission →Related Fastlane services
FAQ
What are statutory records for a UAE company?
Statutory records are the company’s official internal registers showing who owns and runs it — typically the register of shareholders or members, the register of directors or managers, and records of key company decisions. They document the company’s structure and are what authorities, banks or a prospective buyer look at to confirm everything is properly recorded.
What is an annual written resolution?
It is a short signed document, passed once a year by the shareholder or shareholders, recording key decisions such as approving the financial statements for the year. Even for a single-shareholder company it should be prepared and kept on file, as it is the formal record that the accounts were reviewed and adopted.
Do I need to update my UBO register every year?
You must keep the register of beneficial owners accurate and update it within 15 days of any change, under Cabinet Decision 109 of 2023. For many small companies nothing changes from year to year, but the register still has to exist and be current — a beneficial owner being anyone who ultimately owns or controls 25% or more of the company.
Is basic corporate compliance included in my package or charged separately?
For a straightforward company, the statutory records, annual resolution and routine UBO updates are usually covered within your existing licence renewal and accounting services rather than billed separately. What is typically charged separately is non-routine work — a change of shareholder or manager, amended articles, or other specific legal documentation.
Why does basic corporate compliance matter if my company is dormant?
Because clean records are exactly what you need when something happens — opening or keeping a bank account, passing an AML or UBO inspection, or selling the company. Keeping the statutory records and UBO register current is inexpensive upkeep that avoids having to reconstruct years of records under pressure later, even for a dormant company.
General guidance, current as of July 2026; not legal or tax advice. Rules, fees, promotions and immigration requirements are set by the relevant authorities and may change and vary by case — confirm your position with us or the relevant authority before acting.