UAE

RAKEZ - Amendment Financial Year - Free Zone

Introduction

A financial year amendment in RAKEZ Free Zone is a formal company update used when a business wants to change its accounting period or reporting cycle. Companies...
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View Overview

Post-Setup Compliance

Documents required

1 .

Existing trade license

2 .

Company incorporation documents

3 .

Shareholder or board resolution

4 .

Proposed new financial year details

5 .

Passport copies of authorised signatories, if required

6 .

Additional authority forms if requested

Highlights & Benefits

Better reporting alignment

Match the company’s accounting cycle with business or group reporting needs.

Supports tax planning

Helps organise reporting periods and future compliance deadlines efficiently.

Improved internal control

Creates clearer budgeting, forecasting, and year-end planning cycles.

Official authority update

Ensures the revised financial year is formally recorded with RAKEZ.

Suitable for growing businesses

Useful for subsidiaries, holding structures, and expanding companies.

Process Flow

Eligibility Review (Immediate)

Assess the company’s current reporting cycle and confirm amendment eligibility under RAKEZ requirements.

Document Preparation (1 Day)

Prepare amendment request forms, resolutions, and supporting documents for the new financial year.

Application Submission (1 Day)

Submit the completed amendment request to RAKEZ for review and processing.

Authority Review (2–3 Working Days)

RAKEZ reviews the request, supporting documents, and compliance status before approval.

Approval Confirmation (Same Day)

Receive confirmation once the revised financial year is approved.

Record Update (Immediate)

Update internal company records to reflect the new approved financial year period.

FAQs

Why would a company change its financial year in RAKEZ?

Companies often amend their financial year to align with group reporting, audits, budgeting cycles, or tax planning requirements.

How long does the amendment process usually take?

Most cases are completed within a few working days, depending on documentation quality and authority review timelines.

Is authority approval required for this change?

Yes, the revised financial year should be approved and officially recorded by the relevant free zone authority.

Does changing the financial year affect company ownership?

No, this amendment only changes the accounting period and does not affect shareholders or ownership structure.

Terms & Conditions

Government fees may vary based on authority updates.
Timelines depend on approvals and document readiness.
Additional compliance documents may be requested.

Pricing Details

RAKEZ - Amendment Financial Year - Free Zone

Normal service

AED 3,000

Total

AED 3,000

Arnifi Price

AED 3,000

Note: The payment is prepaid.

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Pricing Details

AED 3,000

UAE

RAKEZ - Amendment Financial Year - Free Zone

Introduction

A financial year amendment in RAKEZ Free Zone is a formal company update used when a business wants to change its accounting period or reporting cycle. Companies...
Read more

View Overview

Post-Setup Compliance