How To Set Up Bookkeeping Firms In The UAE

Rajinder Nagiyal

June 23, 2023

bookkeeping

How To Set Up Bookkeeping Firms In The UAE

Dubai has become one of the world’s top locations for business start ups. This is because of its numerous advantages which includes modern infrastructure, little to no tax, secure governance, and of course easy business set up. Truly, no wonder the United Arab Emirate is also referred to as the “gateway to the world”.

Due to its geographic location a lot of businesses are likely to flourish owing to the country’s simple linkages, business networking, and trade access.

As a result, business owners have realised that they need a bookkeeper or an accountant to manage their finances no matter how little or large the business is. This explains why the need for a bookkeeper increases every passing day.

Smart bookkeepers and accountants have seen the light in this opportunity and are beginning to set up their firms in Dubai because it is smarter to outsource a bookkeeper than to employ a full-time accountant.

This article will show you how to set up your bookkeeping firm in the UAE as well as the necessary paperworks you may need.

Necessary Paperworks (Documents) Needed to Set Up A Bookkeeping Firm

To successfully receive a licence for your firm, entrepreneurs must provide the following paperworks:

A copy of your passport and the visa of your shareholders
Your business plan
Trade Name certificate
Initial approval certificate

How To Set Up A Bookkeeping Firm In The UAE

To seamlessly set up your bookkeeping firm in Dubai, below are the steps you need to adhere to:
- Step 1: Pick a name of your choice and have it registered.
- Step 2: Decide the type of structure your company will take. You can decide to make it a sole proprietorship, a limited liability company, or a joint stock company.
- Step 3: Get an initial approval from the DED. This step is important because the initial approval from the DED states that they do not have any problem with you setting up a firm as long as you follow all regularities.
- Step 4: Register your firm by submitting all the paperwork.
- Step 5: Rent a suitable office space for the firm which is in accordance with UAE regulations.
- Step 6: Get your professional licence from the relevant authorities. Once you have this, you can get your firm running.
Now you have the requirements and the steps you need to set up your bookkeeping firm in Dubai but you might be wondering about the benefits of doing this and how much it would cost you. Once again, this article has the answers you need, read on.

Benefits of Starting A Bookkeeping Firm In Dubai

Every firm, regardless of size, needs a bookkeeper and an accountant. The factors that make Dubai the ideal location to launch an accounting and bookkeeping firm are listed below.

You can find all kinds of businesses in Dubai
There are good government policies for enterprises and startups
The cost to start up is little
There is a high demand for bookkeeping and accounting services
Remote work is also feasible in Dubai
Dubai is tax-free
The market frenzy in Dubai never dies

The Cost Of Setting Up A Bookkeeping Firm

Your location, the type of business, and the goal you aim to achieve are a few factors that will influence the cost of your setup. To set up an accounting firm in Dubai, the total cost can range from AED 20,000 to AED 25,000 which covers both your visa and licence. Hence, while planning out your firm, you need to decide on the size, where it will be and if you will settle to work remotely to cut costs.

As one of the top auditing and business setup consulting companies in Dubai, we have a staff of skilled and experienced specialists. We provide full setup services for business owners, from company registration in Dubai to all financial compliance services. After taking into account the variety of the business and the vitality of the industry, our team has the ability to offer basic to sophisticated levels of financial services.Contact Now