Efficient project management is no walk in the park and requires years of experience to master. Project management in the UAE is a lucrative business venture that you can explore if you wish to become an agent of success for various investors and businesses.
Moreover, setting up such a firm is straightforward, and when you collaborate with the company formation experts at Shuraa Business Setup, it becomes easier than ever. We take care of the paperwork, licensing, banking, and everything else related to company incorporation in Dubai.
Why Choose Dubai to Start a Project Management Company?
You need to have the best resources, adequate knowledge of Dubai’s market, and an understanding of the UAE’s legal framework to establish your company in this region. However, you don’t need to worry about any of it when you work with project management service firms in Dubai.
Project management services are your savior when you’re lacking in execution, planning, or overall project management. Moreover, project management in the UAE is diversified.
You can collaborate with numerous budding startups and new businesses in the UAE and offer your expert project management services for their benefit. Your services help these businesses achieve sustainability and make a name for their brand in the marketplace.
Steps to Start a Project Management Company in Dubai
Business investors need to follow the steps mentioned below to start a project management services in Dubai:
1. Finalize the Types of Services you Want to Offer
The best part about setting up your company in Dubai is the permit to carry out the business activities of your choice. Therefore, you need to decide the legal structure of your project management company and finalize the management services you wish to offer.
2. Reserve a Trading Name
Next, you need to choose a legal name for your project management services company in the UAE. Ensure that you follow all the naming convention protocols while finalizing the list of desired business names.
The business name you select shouldn’t have any derogatory terms or words that have any reference to a God or religion. Moreover, always use a person’s full name if you plan on keeping it as your official name.
3. Choose a Business Location
Where do you want to set up your project management firm in the UAE? Do you prefer the mainland region or a free zone establishment? This is a critical decision you need to make after analyzing the benefits and limitations of each business zone.
The mainland region offers restriction-free allowance to trade within Dubai and all across the UAE. Free zones have independent jurisdictions that offer tailored business laws that help you carry out your business activities with more freedom. You must make an educated decision after consulting with Shuraa’s business experts.
4. Apply for your Business License
You can apply for a project consultancy license once you’re done with all the above steps. The process doesn’t consume much time when you follow the right steps. It’s critical for all business entities, let alone project management firms in Dubai 2022, to have a valid license.
Furthermore, you can apply for external approvals to obtain permits to carry out other business activities not covered in your trading license. Ensure that you renew your license annually to maintain its validity and enjoy hassle-free business functioning in the UAE.
5. Manage Visas and Open a Bank Account
You need to manage visas for yourself and your family members to secure everyone’s safe stay in Dubai. You can procure visas for your domestic staff workers too. Simply get in touch with the concerned governing body and submit your visa application alongside the necessary documents.
You also need to open a corporate bank account to manage all the monetary transactions of your project management services agency. Choose a reliable bank that offers long-term business benefits and top-notch banking facilities.
What is the Cost of Setting Up a Project Management Service in Dubai?
The cost of starting a business in project management in the UAE is a combination of various fees and payments.
However, you can consider a ballpark figure of around AED 12,500 – AED 20,000 as an estimate of the investment required to launch such a company in Dubai. You can get in touch with the legal advisors at Shuraa Business Setup and discuss your business requirements to get tailored cost estimates.
Advantages of Starting a Project Management Company in Dubai
- You don’t need to pay any personal or professional taxes in Dubai. You can also enjoy 100% repatriation of your profits and capital gains. Moreover, the VAT rate in the UAE is just 5%.
- You can launch your project management business in various sectors and offer diversified services to your clients. You can also enjoy complete ownership of your business in the UAE.
- Starting a project management company in the Emirates is also beneficial because of the country’s thriving economy. You won’t run out of clients if you offer top-notch and true value-for-money services.
Documents Needed to Open a Project Management Company in Dubai
Here’s a curated list of documents you must submit to the governing bodies in the UAE to launch your project management service firm:
- Passport copies of all the business partners
- Trade Name ( At Least 3 name choices)
- Entry stamp or Visa page.
- Passport size photograph
Launch your Project Management Services Company Today!
You can help businesses prosper via your optimized project management services in various industries. It’s a lucrative business opportunity and the best part is that the supportive government continues to introduce reforms beneficial for investors. Now, all you need to do is connect with the business experts at Shuraa and set up your dream venture today.