Business setup in Dubai has become extremely easy thanks to the improvement in government records and the way systems have been made to support the growth of business in the Emirates. Whether it is a manufacturing business or just a simple shop that you want to own and operate, every type of business has its own requirements which are easy to fulfill.
The growth of business in the UAE has had an enormous impact on the environment of the UAE and ancillary firms have sprung up in large numbers to meet the demands of these services, for services that they require to operate. Banks, logistic companies, event managers, insurers and accounting firms have been in demand because these are basic necessities that businesses require in order to operate and survive in today’s world.
Here are some of the requirements that you need to fulfill to start a bookkeeping and accounting business.
1. Degree in Accounting
It is important that you have a degree in accounting or relevant fields in order to own an accounting firm in Dubai. You must also have a certificate that is proof that you are a veritable accountant. The degree that you hold must also be a recognized one. The services in the UAE are kept professional by regulation relating to your experience and knowledge. This is one of the reasons why UAE has become such an attractive place for businesses.
2. Professional License
To start an accounting firm in Dubai you have to apply for a professional license in Dubai which is typically issued by the Dubai Economic Department.
3. Office Space
If you own office in a commercial area which is well-populated, chances are you will have more clients than you could make in other areas. Businesses want to get things done quickly, and if you are close by and more accessible, there is nothing that would stop businesses coming to you for your services. Your office will also provide the investors with a sense of security because a professional service has to look professional as well.
How to start a bookkeeping and accounting business?
To obtain your professional license from the DED for your bookkeeping firm in Dubai, you need to submit a number of important documents, proofs, certificates, and various government forms. This helps the government determine your eligibility to own such a business and also makes it easier for different regulators to keep records related to your business, which is an important part of how Dubai is run.
Procedure to Start the Accounting and Bookkeeping Firm in Dubai
a. Registering a trading name for your company.
b. Decide on the company structure you want. (Sole proprietorship, joint-stock company, or others)
c. Obtain an initial approval from the DED, stating that the regulator doesn’t have any problem with you starting a business.
d. Register your business by submitting all the necessary and required documents
e. Rent an office space for your business as required by regulation
f. Obtain a professional license from the relevant regulator
Congratulations! You can legally start your accounting and bookkeeping business.
The task of business setup in Dubai might look overwhelming to someone who is new to the business world but it is not that tough really. In fact, business consultancies like KWS Middle East can provide you end-to-end business registration and company formation services for your bookkeeping firm in Dubai. The firm’s offerings include support services like pro services to get all approvals and also bank account opening services that can help you focus on more important tasks for business setup in Dubai.
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