Accounting and Bookkeeping Service License in Dubai is one of the most sought-after professional service license categories in Dubai. The demand for Accounting and Bookkeeping Services has gone up. Especially, with the Value-Added Tax and introduction of Corporate Tax in UAE.
In Dubai, UAE, obtaining a professional services license is a mandatory requirement to conduct the following business activities. Accounting, auditing, financial reporting, financial consulting services, etc. The Service License must specify the list of activities related to finance and accounting.
The company can only conduct the stated activities in the Trade License as part of their service operations in Dubai, UAE. There are two options for the business owner to start an accounting & bookkeeping services company in Dubai. Register a Mainland Company from Dubai Economy or as a Free Zone Company.
Accounting and Bookkeeping Service License from Dubai Mainland
In Dubai Mainland, the licensing authority for issuing the Accounting & Book Keeping Service License is the Dubai Economy. For accounting and bookkeeping services there is no special approval required. However, it is advisable that the business owner has a finance background or is an expert in accounting practices.
The accounting and bookkeeping service license can be obtained from DED in a few simple steps. Firstly, the investor must choose a trade name for their new accounting and bookkeeping company. Also, choose the business activity from the activity list.
Additionally, the investor must submit their photograph, passport copy, entry permit and a short work profile along with the application form to the Dubai Economy. The authorities will review the documents and issue the accounting and bookkeeping service license.
Lastly, there is no mandatory requirement of having an office space for an accounting & bookkeeping services company. However, for easy opening of a corporate bank account in UAE having a formal office space for the accounting services company is advisable.
Accounting & Book Keeping Service Company in Dubai Free Zone
Obtaining an accounting & bookkeeping service license from Dubai-based Free Zone is a beneficial option for business investors. It will help to keep the overall company setup cost low.
Free Zones in Dubai offer various incentives and amenities to investors. The comprehensive company setup packages from Free Zone and special office rental rates make it the right choice for setting up an accounting and bookkeeping service company.
The Accounting and Book Keeping Services business activity is available across all major UAE Free Zones. The business owner can get 100% ownership, office space, UAE Residence Visa for 2 years, etc. The Free Zones of Dubai are the best choice to obtain an Accounting and Book Keeping Service license in the country.
Procedures to Obtain the Accounting and Book Keeping Service License in Dubai
The steps to obtain an accounting & bookkeeping service license in Dubai across the Free Zones and the Mainland is almost similar. The Service License issuing authority in the mainland is the respective department of economic development.
Whereas in the Free Zone, it is the specific Free Zone authority. The process of obtaining the accounting and bookkeeping service license in Dubai starts with choosing a trading name for the company and finalizing the business jurisdiction.
Secondly, adding the right business activities to the service license is essential. Accounting, auditing, financial consulting, etc., fall under the Accounting and Book Keeping Service license category.
Thirdly, prepare the application form, and arrange for the documents such as the shareholder passport copy, photograph, and entry permit (if already in UAE). Also, the investor must make the necessary fee payment for obtaining the accounting and bookkeeping service license.
The investors can choose a desired office space for their accounting and bookkeeping services. The Free Zone has various types of office space ranging from share desks to fully furnished offices.
Similarly, in the mainland of UAE, there are business centres, shared offices, co-working spaces, etc. Business owners have many options to choose from when it comes to office spaces in the mainland of UAE for delivering accounting and bookkeeping services.
Cost of Accounting and Bookkeeping Service License in Dubai
The Cost of an Accounting and Book Keeping Service License in Dubai starts at AED 14,900 for a Dubai-based Free Zone. Depending on the visa quota requirements, and office space, the cost will go up.
Similarly, in the Dubai Mainland, to obtain a professional services license from the Dubai Economy, the license cost is around AED 15,000. The visa cost is separate, the business owner will get a virtual license to conduct accounting and bookkeeping services in UAE for 1 year (Subject to renewal).
The accounting and bookkeeping services license in Dubai is a popular business license. There is a growing demand for the field of accounting, auditing, and bookkeeping services, due to the introduction of Corporate Tax in UAE.
How Accounting and Book Keeping Services in Dubai will help Businesses?
Additionally, with the VAT, Corporate Tax and other financial regulations from the Central Bank of UAE on money laundering, etc., the demand for accounting and bookkeeping is sky-high.
Organizations can embrace fair financial practices during business operations by outsourcing their financial management to experts in Accounting and Bookkeeping Services. Companies can focus on their core business strategies and operational process and worry less about cash flows, revenue management, and financial statements.
The investor with an Accounting and Bookkeeping Service License in Dubai will be the go-to expert for all the financial management and accounting services in UAE.
To know more about obtaining an Accounting and Bookkeeping Service License in Dubai, connect with us right away!
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