It is possible for many investors to find countless business opportunities in the most popular emirate of the UAE; Dubai. And one of the most profitable options is setting up a project management office in Dubai. However, it is always suggestible to find out the right information about the benefits and details of this kind of business.
In this article, you’ll learn everything you should know about running this kind of business in a place like Dubai. For example, here you’ll find the information you need about the advantages of opening an office to run this business. Besides, you can also find useful information about the setup process of this type of office. Let’s observe:
- What is a project management office in the UAE?
- Why should you consider opening this type of office in the Dubai emirate?
- How many benefits can you obtain by setting up this type of business in a Dubai free zone?
- Where exactly can you set up a project management business in Dubai?
- What do you need to do in order to open your company in this emirate?
- How many documents are necessary for setting up a project management office?
- What is the cost of setting up a project management office in this UAE emirate?
- How can Connectfz help you obtain more information about this business setup process?
1. What is a project management office in the UAE?
Since the UAE is the perfect place for launching different projects, many business people decide to join the project management business. And opening a project management office in Dubai is actually the most popular choice when it comes to this business. However, it is worth mentioning that it is important to learn about this sector first.
A project management company helps other companies to facilitate the process of a certain event or task. Besides, you should also know that this business involves several processes, including planning and organizing the resources of the company. In other words, the project manager will be responsible for handling all of those resources.
On the other hand, those resources that the manager must be responsible for are usually intellectual property, technology, and others. Also, the project manager must also handle the available manpower, equipment, and finance for carrying out the job. Additionally, a project management office should also be able of taking on several types of tasks that belong to different fields.
For example, some of the industries that a PMO should be able to manage projects are architecture, technology, among others. However, it is possible to require several components and complex coordination levels for assembling and managing projects in these fields. To summarize, a professional project manager must be able to define the objectives and goals of their customers.
Find out what you have to know about the NOC (No Objection Certificate) that some businesses need in the UAE.
2. Why should you consider opening this type of office in the Dubai emirate?
In case you’re wondering why a project management office in Dubai can be a good idea, here we’ll show you. There are several reasons that you should keep in mind when considering setting up this type of business. And regardless of the kinds of projects that you want your office to manage, you’ll enjoy these advantages:
- You can have a wider business scope by having a project management office in this emirate. For example, you will be able to take trivial and simple assignments, like managing a small website. But also, you could manage bigger projects such as managing a construction project of a skyscraper. Besides, you can also partake in several activities, including marketing or as an IT solutions provider.
- On the other hand, you can also secure a UAE visa for yourself and for your family members. This way, you and your family can live for a longer term in this country while you run your PMO.
- Also, you can open and maintain a bank account for your business, which is actually a requirement for getting a visa. However, you can get the independence you need to both secure your visa and maintain a bank account for managing your finances. And this is possible if you operate a PMO in Dubai.
Discover the benefits and the process to set up a home-based business in any of the available locations in the UAE.
3. How many benefits can you obtain by setting up this type of business in a Dubai free zone?
If having a PMO can bring you several advantages, you can get even more if you’re in a free zone. However, you need to remember that those benefits may vary according to the location you choose. But operating a project management office in Dubai, and precisely in a free zone, can make you obtain these benefits:
- You can get 100 percent of your business ownership. Unlike Dubai Mainland, you won’t need to give 51 percent of shares to a local partner in these locations.
- There is 0 percent of tax rate on several taxes, including both corporate and personal income.
- Besides, there are no currency restrictions.
- Also, you can enjoy 100 percent of capital and profits repatriation.
- On the other hand, most free zones in this popular emirate offer different license packages to investors. And these useful tools include business facilities, visas, office space, and many other elements that you will need.
- And generally, starting a business like this can be done in a more cost-efficient way in a free zone.
4. Where exactly can you set up a project management business in Dubai?
You can set up your project management office in any of the available free zones in Dubai. Nonetheless, you are also free to choose to set up in Dubai Mainland if you consider it is more favorable. But in this case, benefits will be different and you won’t be able to get 100 percent of your business ownership.
As for setting up in a free zone, you will be able to find more than 25 active locations like this. However, it’s essential to learn about each one of them before deciding the one in which you want to set up. And there is also something you should consider when choosing your free zone; the cost of the setup process.
Now, let’s take a look at some of the most popular free zones to set up a project management office in Dubai:
- Dubai Silicon Oasis Authority (DSOA).
- Dubai Multi Commodities Centre (DMCC).
- Jebel Ali Free Zone Authority (JAFZA).
- Dubai Airport Free Zone Authority (DAFZA).
- Dubai World Central (DWC), also known as Dubai South.
Choosing a free zone that suits your business needs can be easier if you request help from a specialist. Besides, it can help you save time and money too.
Here you will learn about the process for registering your company for Value Added Tax in the United Arab Emirates.
5. What do you need to do in order to open your company in this emirate?
Once you have decided on your business location, you can start setting up your PMO in this UAE emirate. All you have to do is to follow three simple steps to register your office and operate it legally. And as we mentioned before, you can also request help from a specialist if you desire to speed up the process.
Let’s take a look at the steps you must follow to open your project management office in Dubai:
- Firstly, it’s vital to select a proper name to identify your business, but make sure to follow the naming criteria. For example, you cannot use offensive language in your company’s name. Besides, you must not include religious or blasphemous content.
- Secondly, you need to manage and submit your trade license application, which is probably the most important step. And in order to do that, it is important to gather and submit the necessary documentation to the pertinent authorities. You can find more information about these elements below.
- And lastly, you have to apply for the UAE visa that you require for operating your office. Once you complete this final step, you can start operating your PMO in Dubai.
6. How many documents are necessary for setting up a project management office?
Regardless of the free zone in which you are setting up your business, you need to submit some general documents. And you can gather all of these documents on your own or through a company formation specialist as well. In any of these cases, you will need to submit the following documents to the free zone authorities:
- Your application form, after you complete it.
- A detailed business plan of your company.
- A few passports copies of the owner.
- And lastly, you will need two colored passport-sized photos.
Some business locations might require additional paperwork for completing the business setup process of your project management office. Nonetheless, you can always get professional advice from an expert or your selected company formation agency. Besides, it is even possible to get your documents in less time by having a business setup partner by your side.
Here you can learn about the process to become a self-employed business person in a country like the UAE.
7. What is the cost of setting up a project management office in this UAE emirate?
Another thing that you should always take into consideration is the cost of opening your PMO in the UAE. And it’ll depend on multiple factors, like the free zone in Dubai that you choose, the company’s size, and more. Besides, it can also depend on the business package that you select when setting up your office in Dubai.
For example, a package for getting a trade license with eligibility for 1 visa in Fujairah Creative City costs AED 22,000. And this package includes the following elements:
- Getting your license within one day.
- Obtaining one free visa that is valid for three years along with two visa allocations.
- Three free activities, but you can get additional ones for AED 2,100.
- Landline number that includes phone answering service.
- A free P.O. Box along with a Dubai based address.
- Co-working space and also meeting rooms.
- And access to an end-to-end business success team.
8. How can Connectfz help you obtain more information about this business setup process?
If you desire to open a project management office in Dubai, you can ask us for the help you require. This way, you will be able to get more relevant information about the setup process of this kind of business. Besides, you can also get some tips to speed up this process and save some valuable time.
Besides the guidance you need, we also offer some services to set up your office in your target location. Also, we can help you select the exact free zone in which you desire to set up your business. Additionally, you’re free to choose any of the business packages we offer, which include licenses, visas, and more useful elements.
On the other hand, you can also request any of our support services to upgrade your business and make it better. For example, our UAE market entry services will allow your company to enter the local market easily and quickly. Other useful services that you can request are visa services, tax advisory, HR consultancy, and many others.
Would you like to contact Connectfz to obtain more useful information about the business setup process of a project management office in the UAE? If you have any questions, you can call us on +97143316688. Or you can email us at firstname.lastname@example.org, and you will talk to one of our representatives who will gladly answer your questions.