The United Arab Emirates is evolved into a lucrative business landscape. Among one of its Emirates, Dubai, offers compelling infrastructure and a friendly commercial environment which is highly conducive to new business setup. Having lenient government policies, ease of setting up a company, transparency in business activities, and huge reservoir of manpower attracts scores of entrepreneurs from around the world.
Every business small or big needs a bookkeeper/accountant who will manage their finances. Business owners today realize more than ever before that if they are not careful about their finances, they soon won’t be in business. It can be costlier for smaller businesses to appoint a full-time bookkeeper or accountant, outsourcing this function has become very attractive to business owners and a great opportunity for bookkeepers or accountants to start up their own bookkeeping or accounting business in Dubai.
What are the Benefits of Starting an Accounting & Bookkeeping Firm in Dubai?
If you have characteristics of outsourcing Accounting And Bookkeeping Services In Dubai, here are the benefits you must know.
- Startup cost for Accounting and Bookkeeping business is minimal
- You might become a specialist in one accounting application for increased marketability
- Its consistent work that generally takes place on a regular schedule
- You can also work virtually and broaden your target market
Starting an Accounting & Bookkeeping Firm in Dubai
Accounting and Bookkeeping consulting firms are one of the most popular business services to start and they’re almost always in demand. The introduction of latest levies and fine tuning of existing taxation system has led to unprecedented demand for accounting firms, particularly those who provide integrated solutions to their clients and the scope of accounting and bookkeeping business startup in Dubai is increasing with every passing day. Before getting into the procedure of registering your business with the authorities, here are a few things you need to know.
Requirements need to set up an Accounting and Bookkeeping Firm in Dubai
- Degree in Accounting
As a consultant you will be engaged in providing services for business rather than private individuals. As an entrepreneur/professional you need to possess a degree in accounting or related area for business setup in Dubai. It also means that you need to have an authentic certificate that proves you are a veritable accountant. However, before you open an accounting firm in Dubai, entrepreneurs need to ascertain the legality of the degree they hold. You can also take local exams to enhance the chance of approval.
- Professional License
To start any business in Dubai, you will need a license. When it comes to starting an accounting firm, you must have a valid professional license which is typically issued by the Department of Economic Development (DED) in Dubai.
- Office Space
In the UAE, it’s obligatory to possess an office space while fitting a company. Also having an office in a commercial district helps fetch clients simply. A physical working space conjointly generates a lot of confidence amongst the clients as they feel assured and comfortable coping with an accounting firm that boasts a team of dedicated CPA’s. As a bookkeeping business set out in Dubai you can rent an area of your choice.