A Professional Company in Dubai is an organization that operates out of the intellectual efforts of its partners. For example, a law firm is a professional company since its business depends on the lawyers' expertise and educational qualifications constituting it. Examples of professional companies are IT consultancy, legal consultancy, accountancy, education, administrative services, management consultancy, etc. The emirate has explicit norms that guide the conduct of professional companies. For instance, professional service providers serve from certified trade licenses to imbibe professionalism. Some of these professional trade licenses make the attainment of specific qualifications and examinations necessary based on the field's sensitivity.
The government monitors the service providers' assets and marketing tools like websites and advertisement content to ensure compliance with cultural and professional etiquette. It has also carried out several actions to facilitate order and clarity in the business's application and performance in professional companies. Keeping in mind that professional activities are knowledge-oriented, the government has ensured must-have academic qualifications for shareholders – to furnish efficient, professional services across the UAE.
Setting up a Professional Firm in Dubai
A Professional Firm is a company set up under the UAE Civil Code that practices a profession as its primary objective, and in which the incorporator rely more on the professional activities that they carry out than on profiting from the business of others associated with them. In light of the same, Professional Firms in Dubai are set up between professionals and are permitted only to conduct non-commercial activities.
A Professional Company in Dubai can be wholly owned by expatriate shareholders, requiring a UAE national as a service agent – who does not hold shares in the company but may receive a fixed annual charge for acting as the service agent.
Benefits of Setting up a Professional Company in Dubai
- No personal income or capital taxes to be paid
- No corporate taxes applicable
- 100% repatriation of profits and capital
- No restriction on currency,
- Adequate availability of workforce and energy supplies, and
- Simple staff recruitment process.
How to Set up a Professional Company in Dubai?
The steps are -
- Decide on a trading name
- Select a business activity to obtain the license
- Get an initial approval from the Department of Economic Development (DED) Dubai
- Submit necessary documents
- Pay fees and get the license
Professional company formation in Dubai is a quick, convenient, and transparent process if you're as well-versed with the process.
How can we help?
Professional companies prefer settling in Dubai, given the plethora of opportunities this Emirate offers. Commitbiz supports firms and business people who set up their company in Dubai through business incorporation, registration, accounting, taxation, bookkeeping, and company secretarial services. We assist our clients in penetrating the booming economy by taking care of legal formalities and customary requirements. We like to see to it that you utilize the opportunities that Dubai has to offer in the most optimal way for your business. For Commitbiz business setup in Dubai, do get in touch with us – we'd be happy to help.