The short answer
Every company licensed by the Ras Al Khaimah Economic Zone must have its accounts audited each year, whatever its size or revenue, and file the audited statements within six months of the financial year end. The auditor must be one RAKEZ accepts. Late filing starts with an AED 2,500 penalty and can lead to licence suspension.
Is there a small-company exemption in RAKEZ?
No. RAKEZ applies the audit requirement to all licensees regardless of revenue, with audited statements due within six months of the year end (Audit Firms Dubai on RAKEZ).
What happens if RAKEZ accounts are late?
An initial AED 2,500 penalty for late filing, then licence suspension if the company still does not comply (Audit Firms Dubai). A suspended licence stops visa renewals and bank activity, so the real cost is far higher than the fine.
Who can audit a RAKEZ company?
An auditor RAKEZ accepts; confirm acceptance before you sign the engagement letter.
Before appointing any auditor, ask for proof that the firm is on the current RAKEZ approved list: a report signed by a firm that is not listed will be rejected at upload.
QFZPs in RAKEZ need the audit for the 0% tax rate too (Ministerial Decision No. 82 of 2023).
Frequently asked questions
Do small RAKEZ companies need an audit?
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Yes. RAKEZ has no revenue-based exemption.
What is the RAKEZ late filing fine?
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An initial AED 2,500, with licence suspension for continued non-compliance.
Can a RAKEZ company use a Dubai-based auditor?
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Yes, if RAKEZ accepts that auditor.
Sources
- RAKEZ audit requirements and approved auditors — Audit Firms Dubai. Checked 17 October 2026.
- Ministerial Decision No. 82 of 2023 on audited financial statements (revenue above AED 50 million and Qualifying Free Zone Persons) — UAE Ministry of Finance. Checked 16 October 2026.