Looking for a launch company in uae for accountancy? There are thousands of companies in the UAE that need the assistance of accountants, auditors, or tax advisors. In several industries, having a license requires you to submit to an annual independent audit, making the use of such services necessary. For business people in the UAE who have an eye for numbers, this gives a fantastic opportunity. Even if there are a few extra processes involved, getting a license to work as an auditor, bookkeeper, or tax consultant is still rather simple to do. In addition to a company license, you might also need to be credentialed in your industry.

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Accounting and Bookkeeping Business in Dubai

One of the most popular categories of company services that many entrepreneurs enjoy investing in are accounting and bookkeeping firms. They are also the industries in Dubai that are in the highest demand. There is a huge demand for these accounting businesses as a result of the implementation of the most recent levies and changes to the existing taxation system. Dubai is actually regarded by DIFC as the financial center, and by 2024, it expects the size of the digital finance sector to have tripled. Additionally, the number of accounting firms opening in Dubai is growing dramatically every day due to the companies offering integrated solutions to clients.

Launch company in UAE and apply for your license

After deciding on the ideal structure, outlining your activities, and deciding on the name of your business, you can submit an application for a business license. To work as an auditor, accountant, or tax consultant in the UAE, you typically need a professional services license.

You have the option to apply for a professional services license either directly to the Department of Economic Development (DED) or through one of the numerous free zones in the UAE.

In the UAE, free zones are frequently the easiest and most affordable method to establish a business. They also provide several appealing benefits, such as a 100% exemption from customs duty and zero percent personal and corporate income tax. Also, not just like in different countries, the UAE entrepreneurs enjoy the free zone ability of the profits and the cash flow. Moreover, there are no limitations in the foreign exchange process and currencies.

You will need further accreditation in addition to your license to work in the financial sector. The specific requirements will vary depending on the type of business you have. Experts can assist if you want company registration in the UAE, a free zone, on the mainland, in Qatar, or even in Saudi Arabia and Qatar. For the registration of UAE companies, we also provide monthly installment plans.

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Advantages of starting an Accounting Business in Dubai, UAE

One of the major advantages of beginning an accounting business in Dubai is the demand, as the city is home to hundreds of thousands of businesses. Because the UAE’s population is over 80% foreign-born, many of its business owners are unfamiliar with the nation’s financial and tax practices. Many business owners work together with local authorities when conducting business abroad for enhanced security. Of course, there is also the UAE’s alluring 0% tax rate on both personal and corporate income. Additional advantages for businesses operating in free zones include a complete exemption from customs taxes and the ability to freely repatriate capital and profits.

Set up a business in Dubai, and you’ll also profit:

  • Supportive Government Programmes: The UAE government has put in place a variety of programs to encourage entrepreneurship and aid the expansion of small and medium-sized businesses (SMEs) and launch company in uae. These measures, which can help your accounting business, include funding options, business development programs, and business-friendly policies.
  • Numerous Free Zone Options: Dubai boasts many free zones that provide business owners with alluring incentives. It is simpler to start and run your accounting business in free zones like Dubai Multi Commodities Centre (DMCC) and Dubai International Financial Centre (DIFC), which offer tax benefits, 100% foreign ownership, and streamlined company setup procedures.
  • Robust Infrastructure: Dubai is home to state-of-the-art facilities, cutting-edge technology, and world-class infrastructure. This makes it possible for you to run your firm effectively and to offer your customers top-notch accounting services.
  • Strategic Location: Dubai’s location at the crossroads of East and West makes it an excellent hub for transcontinental business. It acts as a bridge between the Middle East, Africa, and Asia, opening up new markets and increasing the number of your customers.

How to launch company in uae of Accounting and Bookkeeping business in Dubai?

The processes listed below must be followed in order to launch an accounting and bookkeeping business in Dubai.

1. Select the right legal form for your business

Your company can begin as a Sole Establishment, with a foreign national serving as the sole proprietor and an Emirati national serving as the regional agent. Another choice is to start your accounting and bookkeeping company as a civil company, which allows for the participation of more than two partners who reside abroad and one regional partner who is a resident of the UAE. The third choice is to establish your company as a Limited Liability Company, with the UAE national owning 51% of the shares and the immigrant having 49%.

2. Register the trade name

The trade name of a company can be used to identify it from another. It also displays the company’s personality and organizational structure. Provide the proper agency with a list of the three to four names you want to use as your legal name. Following your submission, the department will examine it and give its approval to each of the qualified company names. You are therefore free to decide whatever choice you prefer best. Here are some guidelines to follow while choosing a trade name.

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The brand name has to:

  • Not violate the nation’s public morals or laws.
  • Be appropriate for the needed activity’s nature and the business entity’s legal status.
  • Not include any names of any religions or governing bodies, nor any names or logos of external organizations.
  • Not have been registered before.
  • Do not use names that begin with the words “Universal,” “Middle East,” or “International,” or translate such names into Arabic.

3. Request initial approval

The UAE government’s initial permission enables a foreign investor to move forward with a launch company in uae in the nation. Although it shows that the government has no issues with the business’s establishment, it does not grant the owner of the company the right to conduct business as usual.

4. Creating a Memorandum of Association (MOA) or Local Service Agent Agreement (LSA)

The MOA is an essential document that companies must submit while registering their business in the UAE. It is often referred to as a constitution for the company, as it contains detailed information about the shareholders, board of directors, business rules, policies, safety measures, and other necessary details. Along with other mandatory documents, the MOA must be presented during the company’s registration process in the UAE. Importantly, companies owned by non-GCC citizens must hire a UAE-based Local Service Agent, and a contract authenticated by a notary public or the court must name the agent.

5. Obtain further government approvals

Depending on the particulars of your company, you might also need extra government approvals. At this point, it is best to have a seasoned adviser on your side because they will assist you in obtaining all the necessary government approvals for your enterprise.

6. Licence for Business Application

It is now time to submit your application for the business license after finishing the aforementioned stages. Your business’s main activity will determine the kind of business license you should apply for. You can begin conducting business legally in Dubai after you acquire the business license. The economic departments’ service centers or websites can be used to obtain the business license.

7. Documents required to register your accounting & bookkeeping company in Dubai

The following documents are required for registering your accounting and bookkeeping business in Dubai:

  1. Copy of Shareholders’ and Directors’ Passports: Provide a copy of the passports of all shareholders and directors involved in the business.
  2. Copy of National Identity Cards: Include copies of the national identity cards of the directors and shareholders.
  3. Proof of Address: Submit recent bank statements, credit card statements, or utility bills that clearly display the name and residential address of the shareholders and directors.
  4. Initial Approval Receipt and Previously:  Submitted Documents: Include the initial approval receipt received during the registration process, along with all previously-submitted documents.
  5. Attested Lease Contract: Provide a copy of the lease contract for your business premises, duly attested by the Real Estate Regulatory Agency (RERA) in Dubai.
  6. Duly Attested Memorandum of Association: Include the memorandum of association (MOA) for your accounting and bookkeeping business, duly attested by the relevant authorities.
  7. Approvals from other relevant governmental bodies, if necessary.

8. Register a bank account

For business setup in Dubai an entrepreneur must have their corporate account to receive and transfer money related to the company’s business cash flow after getting the important registration and consents from the higher authority.

9. Cost of establishing a business in Dubai

Depending on the sort of company you want to register, government approvals, location, etc. The cost to start a business in Dubai varies. To launch company in uae, however, may run you between AED 15000 and 20000, according to a conservative estimate.

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Conclusion –

An individual who is inexperienced in the business world could find the work of a launch company in uae to be overwhelming, but it is not actually that difficult. We can offer you complete company creation and business registration services for your book-keeping firm in Dubai. The company’s assistance services, such as expert services to secure necessary approvals and bank account opening services, will free up your time so you can concentrate on more important business establishments in Dubai work.