HOW TO REGISTER A BOOKKEEPING COMPANY IN DUBAI MAINLAND
To register a bookkeeping company in Dubai mainland, you need to follow a series of steps and fulfill certain requirements.
Here is a general outline of the process:
Determine the Legal Structure: Decide on the legal structure of your company. In Dubai, you can establish a Limited Liability Company (LLC), which is the most common option for foreign investors.
Choose a Local Partner: For mainland companies, unless you are in a specific free zone, you'll need a local partner who holds at least 51% ownership in the company. This local partner can be an individual or a company.
Trade Name Reservation: Select a unique name for your bookkeeping company and reserve it with the Department of Economic Development (DED). Ensure the name complies with DED's guidelines and is available for registration.
Prepare Memorandum of Association (MOA): Draft the MOA, which outlines the activities, shareholding structure, and internal regulations of your company. This document needs to be notarized by a public notary.
Office Space: Arrange a physical office space meeting the requirements set by DED. This is a mandatory requirement for mainland companies. You can either rent or purchase an office in a commercial building.
Initial Approval: Submit your company's documents, including the MOA, to the DED for initial approval. This step verifies the eligibility and feasibility of your business.
Additional Approvals: Depending on the nature of your bookkeeping services, you may need approvals from relevant government authorities such as the Dubai Chamber of Commerce and Industry and the Ministry of Economy.
Obtain Trade License: Once you have received the initial approval and fulfilled all requirements, apply for the trade license from the DED. This license will authorize your company to operate legally in Dubai.
Register with the Commercial Register: After obtaining the trade license, register your company and its details with the Commercial Register at the DED.
VAT Registration: If your annual turnover exceeds the threshold set by the Federal Tax Authority, register your company for Value Added Tax (VAT).
Labor and Immigration Registration: Register your employees with the Ministry of Human Resources and Emiratization (MOHRE) and obtain work permits and visas for them.
Opening a Bank Account: Open a corporate bank account in Dubai for your bookkeeping company. Each bank has specific requirements, so check with different banks for their procedures.
It's important to note that the process of setting up a mainland company in Dubai may vary depending on the specific requirements and regulations at the time of your registration. It's advisable to consult with a local business setup consultant or a law firm to ensure compliance with all legal procedures and to navigate the registration process smoothly.
