Last updated on May 1, 2022
If your intention is to find How to start an audit firm in Dubai; then you are on a right place to find out; as we will guide you to get an auditing license in Dubai. There are many reasons to support the idea to open a ca firm in Dubai,
But the question is; is it a right time to think how to start an audit firm in Dubai
The answer is yes; because due to future events in UAE like FIFA world cup in GCC and Expo 2020; it is a best time not only to setup audit license in Dubai; but for any business in UAE. All the major trader; financier and entrepreneur have eyes on Expo 2020; and they are waiting for a chance to promote their Idea of business in such event. An audit firm can also promote their firm as other companies like trading and professional firm; are looking to promote their firm and become an international brand.
How to start an audit firm in Dubai
Another big reason which will make you thing about How to start an audit firm in Dubai; that is the availability of manpower. Many people in this region are come to find a jobs as they think UAE is a good location for them. An audit firm needs professionals with sound experience in audit and account. The firm can hire these experts easily. Also there are very easy visa process to hire professionals; and also requires less time in hiring process as compare to other countries. This makes UAE a nice looking place. UAE is very sound market for job seekers; so as a firm you can get maximum benefits by hiring fresh graduates.
UAE has no capital gain tax; very low value added tax, no personal income tax and zero corporate tax. An audit and accounting firm can save so much valuable capital; and use it to increase long term capital of the firm. Therefore the firm can grow quickly. The money which you save from this taxation can also be used for other running cost of the firm.
How to get audit license in Dubai
A firm holding an auditing license in Dubai is providing one of the most popular services to other firms; and they and their services are always in demand. Thus, this demand brings plenty of competition but as well as plenty of customers. In fact, this is one of the reckless growing fields; and it grows about 25 percent in last decade. Plan your business carefully and develop good relations with your clients; and you will be able to develop your firm successfully.
Determine your specialty. As a consultant, you will concentrate on providing services in the field of accounting for other companies. While you may only take on the account and auditing for a company as a full service outsource accounting department; you may also select to offer more specific services; which clients do not want to hire a full time employee for that. SOX auditing, forensic accounting, expert witness services as well as financial analysis of purchase; are more likely to be outsource to consulting firms.
Obtain certifications and Exam. For auditing license in Dubai you need to have accounting degree and relevant experience in this field. You also need to pass an exam in Dubai to be eligible for getting auditing license in Dubai.
Set up an auditing license in Dubai
Every business needs a license to operate in UAE. You will also need a cheapest business license; you may need to consider forming an LLC or corporation to defend yourself from personal liability; Taking professional liability insurance may be a constraint in some communities; and it is a good idea to have even if the law does not require it.
Market your services. Since you will be fascinating business clients that need to trust you with their finances; making face to face contact by joining networking events will serve as one of your major marketing efforts. Make sure your clients recognize correctly what you are offering; they should be able to easily know your services in a “30-second elevator pitch.
Auditing license in Dubai
- Activity Code 6920001
- Activity Group Accounts
- License Type Professional
- Activity Description auditing license in Dubai allow to practice accounting services; and allow to audit accounts of companies as well as firms; and make comprehensive examination and auditing of all kinds of accounts; records and accounting books of an establishment; the outcome of its business, reports on its financial position.
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