The UAE is renowned for its projects. Be it the ambitious infrastructural plans to bring 20 million tourists to the shores or several building projects, such as the Burj Khalifa and Palm Islands. Such endeavours empower you to start a project management company in Dubai.
Besides these business opportunities, the country has a welcoming climate for investors. Moreover, the tax system supports project companies in making significant profits. So, if you want to start a project management company in Dubai, continue reading to learn about its benefits, process, documents, and costs.
What Are the Benefits of Starting a Project Management Company in Dubai?
If you’re proficient in managing projects for businesses, you can explore the rich opportunity of project management in the UAE. Some of the benefits of starting a project management company in Dubai are as follows:
- You are not required to pay personal or corporate taxes in the UAE. Furthermore, you are entitled to a 100% repatriation of your profits and capital gains. In addition, the UAE’s VAT rate is only 5%. Moreover, you can also take full ownership of your company in the UAE.
- Launching a project management business in the UAE is desirable because of its diverse economy. You can start your project management company in various industries and provide your clients with services. As a result, you won’t run out of clients, given that you provide excellent services with great value.
- You can start small with your company and later scale it into a size that works for you at your pace. In Dubai, you can establish your project management business as a freelancer working alone or as a full-fledged company with staff.
- Dubai has a cooperative government and a digitised business setup process. In contrast to other time-consuming registration processes, you can acquire a project management company license after providing the required documentation in less time.
- The Dubai government never fails to offer foreign investors top-notch amenities, incentives, and security. To ensure high-quality advancements and increase business prospects, it continuously modifies the laws governing how to conduct business in the city.
What Documents Do You Require to Start a Project Management in Dubai?
Like all business setups, you will need to submit a couple of valid, authentic documents to the authorities for starting a project management company here. The following are some documents you need to start a project management company in Dubai:
- A copy of your passport
- Passport-size photographs
- A copy of your entry visa
Moreover, depending on the chosen activity, company structure, and location of your project management company, you may need extra documentation. The company’s setup professionals at Shuraa UK Branch can give you a comprehensive document list based on your project management company’s needs.
How to Start a Project Management Company in Dubai?
The UAE government has made company formation an easy-to-follow process. For a seamless start-up and operations of their companies, all entrepreneurs must abide by the procedure. The steps to start a project management company in Dubai are as follows:
1. Reserve a Trading Name
The first step is to select a legitimate trading name for your project management company in Dubai. Make sure to adhere to all naming convention guidelines while finalising your selection of prospective company names.
Avoid choosing a company name that uses abusive language or makes any religious or spiritual allusion. Moreover, if you intend to use someone’s name as your official name, you can use the full name instead of a nickname. But that’s not all. The list of naming rules is extensive. Our experts can help you name your project management company as per the UAE naming guidelines and name availability.
2. Choose a Company Structure
If your project management business has a proper company structure, it will run more smoothly. So, decide on a company structure that is appropriate for your business in Dubai, you can have a limited liability company (LLC), a branch office, or a sole proprietorship.
3. Choose a Location for Your Company
Business location is an essential part of the company establishment process. While establishing your project management company, you can choose your business location as either the mainland or a free zone. It would be best if you consider the location after analysing the advantages and restrictions of all the available options.
For example, the mainland permits trade between Dubai and the rest of the UAE. On the other hand, free zones have separate authorities with specialised business rules that give you more freedom to conduct your business. Hence, choose your location wisely.
4. Apply for a License
Every business must possess a valid license in Dubai. So, once you have completed all the abovementioned stages, you can apply for a project management license. Submit the documents to appropriate regulatory authorities and pay the fees. The procedure doesn’t take too long when you take proper actions.
Additionally, you can apply for external approval to get authorisation to conduct other commercial operations not permitted under your trading license. Also, you must renew your license annually to keep it valid and avoid legal issues in the UAE.
Our advisors can help you apply for the relevant license. Moreover, they can help you get the pertinent approvals and streamline the process for you.
5. Get Your Trade License
Once you obtain your license, your project management company becomes a legal entity. Further, you can sponsor visas for your family and employees. Moreover, you can open a corporate bank account to handle all financial operations for your project management services business.
How Much Does It Cost to Start a Project Management Company in Dubai?
A project management company set up in Dubai will cost you a combination of several fees and payments. A lot depends on the location of your company, the kind of license you need, additional permissions, the number of visas required, and more. However, as a rough estimate, the cost to start such a business in Dubai ranges from AED 15,000 – AED 20,000.
To receive exact pricing, you can explain your company’s needs to our consultants. Accordingly, they will provide a proper breakdown of the project management company set up cost.
Start Your Project Management Company with Shuraa
Starting a project management company in Dubai is simple with the help of Shuraa UK Branch specialists. With our extensive knowledge and hands-on experience, we will streamline the entire project management company process for you.
Additionally, we can design personalised company formation packages if your company has specific requirements. You can take full advantage of Dubai project management by working with us. Get in touch with us straight away!