When it comes to offering business services in the form of accounting, auditing, or tax consulting, there are a number of options to set up in Dubai. For example, starting your own bookkeeping business in Dubai is a popular option.
In this article, we’ll look at the many benefits of setting up in this area, the kind of costs you can expect, and why working with a company formation specialist is your fastest and safest way to set up your new company – so you can start your business on the right footing. Here we will cover all the requirements to open an accounting firm in Dubai.
We will cover:
- Starting an accounting business in Dubai – steps
- Cost of starting an accounting business in Dubai, UAE
- Start a tax consulting business in Dubai, UAE
- Benefits of starting an accounting business in Dubai, UAE
- Working with Creative Zone
Start an accounting business in Dubai – steps
When you’re looking to get your accounting business license there are a number of steps to follow. Let’s break these down:
Step 1: Decide on your business activity: It is vital that your chosen activity aligns exactly with the business activity you are going to undertake. To make sure everything here is clear and compliant, it’s worth bringing in the services of a company formation specialist. This is not an area where you want to make a mistake as it can cause serious issues if you are carrying out unlicensed activities, even unknowingly. It’s important to note that every activity you carry out – whether that’s tax consultancy or auditing or accountancy and so on – must be specified so you have the correct license.
Step 2: Choose a company name: The UAE is fairly strict when it comes to naming companies, so it’s important to be aware of the regulations. Essentially, you must avoid any language that could be seen as offensive or blasphemous. You must avoid any name that is already held by a well-known organisation. If you’re naming your company after yourself, ensure that you don’t abbreviate your name. So Mike Smith Accountancy is fine, but M Smith Accountancy is not. Of course you will also need to ensure your chosen company name is still available for you to register.
Step 3: Select free zone of mainland setup
The next decision you need to make is whether to set up on the mainland or in one of the UAE’s free zones. Free zone setup is popular and often very cost-effective – however, if you do take this route you would have to take some additional steps (such as opening a branch or using a distributor) if you want to trade directly with the UAE market. Only a mainland setup allows you to trade with the UAE market without extra steps.
It’s here that a company formation specialist can advise you on the best option for your chosen business.
Cost of starting an accounting business in Dubai, UAE
The cost of starting an accountancy, audit or tax consultancy firm in the UAE will depend on your chosen business activity, company size and where you set up.
As an approximation, you might expect a free zone setup to be around AED 20,000 – AED 25,000 for both license and visa. Keep in mind that there will be additional costs should you require qualifications or accreditations for your particular area of business.
It’s worth at this point speaking to Creative Zone, who have the latest pricing and can tailor-make a package that suits your exact needs and give you an accurate quote.
Start a tax consulting business in Dubai, UAE
The steps required to start a tax consulting business in Dubai are in-line with those outlined for an accounting firm. In addition to the professional services license, you will also need to demonstrate your expertise, through qualifications. There is an exam if you are going to become a licensed tax consultant.
Benefits of starting an accounting business in Dubai, UAE
The key benefits for starting an accounting business in Dubai are the huge number of firms that need these kinds of services. In fact, for some companies there is a mandatory annual audit – another area where an accounting firm can find business.
Working with Creative Zone
Now is the time to work with a specialist to ensure your accounting business license is set up smoothly.
When you’re looking to set up any kind of bookkeeping business you can be sure what you’re getting from Creative Zone is the latest, up-to-date info from people who deal with this every day.
While the setup process can be somewhat stressful, you can fast-track it by working with a company formation specialist. It’s the quickest way to get set up in the UAE, letting us take care of all the details and ensuring your application is free from errors.
We can also help you with opening a corporate bank account and offer important advice on the type of financial institution that would best suit your requirements.
Here at Creative Zone, we offer you the best solutions to start your company in the UAE. You get fast, reliable and unbiased advice on your unique business setup requirements. We can help you choose the right kind of license for your chosen business activity/activities and take you through the entire process from start to finish.
You can let us deal with the hassle of registering a company while you focus on your business. And working with us means you get the best budget friendly and cost-effective solution to help make your business dream a reality.
Over 10 years, Creative Zone has helped over 36,000 entrepreneurs set up their businesses. Whether it be a mainland business setup, offshore company setup, free zone company setup or issuing of trade licenses and any related activity for registering a company, Creative Zone is your one-stop-shop.