Due to the great economic opportunities Dubai offers, many investors and auditors choose to establish their operations there. The primary attraction for businesses worldwide to this intelligent city is its diverse labor, resources, and infrastructure. The growing size of companies operating in Dubai has increased the importance of outsourcing finance. Every company, no matter how big or small, needs bookkeepers and accountants. For this reason, setting up an accounting and bookkeeping business in Dubai is a smart option. The business world in recent years is more focused on the financial operations of their business more than other aspects. To assure audits are conducted and keep all financial records is crucial to running any business that is successful.
How to Setup an Bookkeeping and Accounting Firm in Dubai
In order to start a accounting and bookkeeping firm in Dubai The following steps must be followed:
- Finalize the Business Trade Name
The first step is registering a trade name for your business. It could be any name you choice, but within the legalities that are governed by The Government of Dubai
- Decide the Business Entity Structure
Next, you must choose the business structure. You can decide if you wish to establish an entity called a Sole Proprietorship, Joint Stock Company or LLC or any other type of organization.
- Request the Initial Approval through DED
Then, you have to get an initial approval from The Department of Economic Development. The initial approval usually declares the DED doesn’t have any issues with the start of your own business, provided that you comply with all the legal requirements necessary to establish an enterprise.
- Submit the Respective Documents
It is the next stage to establish your company by submitting all documents, including your initial application for approval. The necessary documents are listed below.
- Get Your Office Space
The next step is to lease an office space to run your business according to the regulations of the authorities. Find the appropriate workplace and write the necessary agreements.
- Obtain Your Business License
Following that, you’ll have to obtain the Professional License from the concerned authorities. Once you’ve obtained your license, you are legally able to begin your bookkeeping and accounting business.
Documents Required to Setup an Accounting and Bookkeeping Firm in Dubai
Below are the necessary documents to establish an accounting and bookkeeping business in Dubai:
- Visa and passport copies of the shareholder’s Business plan
- Trade name certificate
- Lease agreement
- Initial approval certification
Accounting and Bookkeeping companies located in Dubai meet the demands and requirements of a variety of companies. While traditional accounting firms tend to cater to the requirements of commercial and large-scale corporate businesses, they also have others that meet the needs of small-sized and private companies as well as individuals.
Benefits of Starting an Accounting and Bookkeeping Company in Dubai
Below are the main motives to establish an accounting or bookkeeping business in Dubai:
Dubai is a growing business center for all kinds of businesses. Dubai is a tax-free emirate. The favorable policies of the government that can be beneficial for entrepreneurs who are just beginning their journey. costs for starting a business are minimal in Dubai. There is a rapid growth of bookkeeping and accounting services. This sector is an ever-growing one. Accounting and Bookkeeping is a continuously growing business. This sector also allows virtual office work flexible work is available in this field.
ebs chartered accountants- Start Your Accounting and Bookkeeping Firm in Dubai
The bookkeeping and accounting sector is the fastest growing industry across the entire Emirate. The main purpose of the industry is outsourcing of the financial service. This has drawn enough attention from entrepreneurs who are just starting out. This is a great chance for entrepreneurs looking forward to establishing their bookkeeping and accounting services in Dubai. The first thing to do is obtain an authorization to begin your business.
The process of setting up an the accounting and bookkeeping company in Dubai is extremely complex. ebs chartered accountants is there to ensure that your business’s setup in Dubai simple and easy. Our team of experts is here to bring you with the required services to run your business. Contact us- we’re ready to benefit.
FAQs
The difference in bookkeeping and accounting?
Accounting is a speculative examination of what the data suggests for your company.
Bookkeeping – It’s an exact account of all transactions and sales your company has.
How can I begin a bookkeeping and accounting firm within Dubai, UAE?
Follow the steps below.
- Please describe your business’s activities
- Select a name for the company
- Choose a suitable location
- Apply for a license
- Create an account with a bank
What can I get from these accounting solutions?
Accounting services can benefit your company rise its reputation and financial stability and credit management, audits and financial reporting in addition to other things.
How do I become an auditor in the UAE?
You must obtain an audit certificate for which you need to be an academically proficient student and also successfully pass the entry exam.