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Quick answer
Yes. A Meydan Free Zone liquidation audit report includes preparing the internal financial statements for the liquidation period — for a dormant company, from the licence issue date (incorporation) to the licence cancellation date. What matters most is that all assets and liabilities are properly set off so the closing balance sheet shows the right picture — a clean position for a company being dissolved. Fastlane prepares the internal financials and the liquidation audit report in Meydan’s required format for a fixed AED 1,499 + VAT (dormant company), in 3–4 working days.
People often assume a “liquidation audit report” simply reviews financial statements you hand over. In reality, most companies closing down — particularly dormant ones — never prepared formal accounts in the first place. So the report has to start with the financials. Here’s what that means for a Meydan liquidation.
What’s included
The report includes the internal financial statements
A Meydan liquidation audit report engagement covers two things, not one:
- Preparation of the internal financial statements for the relevant liquidation period.
- Preparation and issuance of the Liquidation Audit Report itself, in the format Meydan requires for company liquidation.
So you don’t need to arrive with a finished set of accounts. The internal financials are built as part of the engagement, then the liquidation audit report is prepared on top of them.
The period
What period the financial statements cover
The internal financial statements are prepared for the liquidation period — which, for a dormant company, runs from the licence issue date (incorporation) all the way to the proposed liquidation / cancellation date. In other words, the whole life of the company in a single set of accounts, so nothing in its history is left unaccounted for when it’s dissolved.
The point of it all
The balance sheet has to show the right picture
Assets and liabilities, properly set off
The single most important thing in a liquidation is that all assets and liabilities are set off — assets realised or distributed, liabilities settled — so the closing balance sheet reflects a company that is genuinely ready to be dissolved. For a dormant company that never really traded, that typically means a clean, near-nil position. If the balance sheet still shows unresolved balances, the company isn’t ready to close — which is exactly what the liquidation report is there to confirm.
Dormant companies
“We never traded — do we still need this?”
Yes. Even with no activity, Meydan needs internal financial statements over the period and a liquidation audit report to close the company — the accounts simply show a minimal or nil position. Because a dormant company is straightforward, the fee is fixed: AED 1,499 + VAT, covering both the internal financial statements and the liquidation audit report, with no additional professional charges provided the company is genuinely dormant and the information shared is accurate.
Practical
Timeline & documents
The report is typically ready in 3–4 working days from receipt of the complete documents. To prepare it, we generally need:
- Trade licence and Memorandum of Association (MOA)
- Shareholder documents
- Bank closure letter (or bank statements, if the account was used)
- Corporate Tax details
- Any other relevant company records
Once the report is ready, it’s submitted to Meydan in the required format — and note that a liquidation report doesn’t expire, so it stays valid while you complete the rest of the closure. Corporate Tax and VAT deregistration with the FTA are separate steps.
Closing your Meydan company? We’ll prepare the financials and the report.
Fastlane prepares the internal financial statements and the liquidation audit report in Meydan’s required format — fixed AED 1,499 + VAT for a dormant company, in 3–4 working days.
Related reading
Never-traded company: do you still need a liquidation report? →Does a liquidation audit report expire? →Related Fastlane services
FAQ
Does a Meydan liquidation report include internal financial statements?
Yes. The engagement includes preparing the internal financial statements for the liquidation period as well as preparing and issuing the liquidation audit report itself, in Meydan’s required format. You do not need to provide a finished set of accounts — the internal financials are built as part of the work, especially for dormant companies that never prepared formal accounts.
What period do the liquidation financial statements cover?
The liquidation period. For a dormant company, that runs from the licence issue date (incorporation) to the proposed liquidation or cancellation date — effectively the whole life of the company in one set of accounts, so nothing in its history is left unaccounted for when it is dissolved.
What does the liquidation balance sheet need to show?
That all assets and liabilities have been properly set off — assets realised or distributed and liabilities settled — so the closing balance sheet reflects a company genuinely ready to be dissolved. For a dormant company that never really traded, this is usually a clean, near-nil position. Unresolved balances signal the company is not yet ready to close.
Does a dormant Meydan company still need internal financials for liquidation?
Yes. Even with no trading activity, Meydan requires internal financial statements over the period and a liquidation audit report to close the company — the accounts simply show a minimal or nil position. Because a dormant company is straightforward, the work is offered at a fixed fee rather than charged by complexity.
How much does a Meydan liquidation report cost?
For a dormant company, Fastlane’s fixed fee is AED 1,499 + VAT, covering both the preparation of the internal financial statements for the liquidation period and the preparation and issuance of the liquidation audit report. There are no additional professional charges provided the company is genuinely dormant and the information shared is accurate.
What documents are needed and how long does it take?
We generally need the trade licence, MOA, shareholder documents, a bank closure letter, Corporate Tax details and any other relevant company records. From receipt of the complete documents, the liquidation audit report is typically ready in 3 to 4 working days, prepared in the format required for submission to Meydan Free Zone.
General guidance on Meydan Free Zone liquidation audit reports, current as of July 2026; not legal or tax advice. Document requirements, format and timelines are set by Meydan Free Zone and confirmed at the time of liquidation, and may vary by company and change. Confirm your position with us or Meydan Free Zone before acting.