Before we dive into exploring the reasons for having a project management office in Dubai, we need to understand what does managing projects entail?
Project management involves the process starting from planning to organising the resources of a company to facilitate the progress of a given task or an event. The project could be a one-time gig or an ongoing one. The project manager would be responsible for handling the resources including intellectual property, manpower, finance, technology, and equipment.
A project management office (PMO) can take on various types of tasks in different fields. For instance, managing projects in the healthcare, architecture, and information technology industries, may require quite a few components that require assembling and complex levels of coordination in order to fashion the end product or outcome. A project manager would have to help with defining the goals and objectives. They also have to set a timeline and designate tasks, before rolling out the project. Furthermore, they have to ensure that regular quality checks are in place and the end product meets the set or expected standard.
Benefits of setting up a project management office in Dubai
Wonder how a relatively young city like Dubai managed to poise itself as the regional economic hub? It has been a home to massive international projects. Be it infrastructure, healthcare, or tourism, the Emirate has a lot going on leading to a growing demand for project management.
Highlighted below are some of the benefits of setting up a project management office in Dubai:
1. Wider business scope with project management office
Having a project management license in Dubai allows you to handle projects in any vertical. You could take up assignments as trivial as managing a website to tasks a big as managing the construction of a skyscraper. Additionally, your trade license allows you to partake in multiple activities such as marketing and proving IT solutions.
2. Securing a UAE visa
Setting up a PMO in Dubai will not only help entrepreneurs get a residency visa in the UAE, but this will also enable them to sponsor their family members. Living in the Emirates for a longer term is only possible if you have a residency visa. Thanks to the UAE government’s progressive policies, residents can enjoy an array of perks.
3. Maintaining a bank account
One of the mandatory requirements for opening a bank account in Dubai is the residency visa. And three of the primary ways to secure a visa are getting sponsored by an immediate family member or employer. However, having a project management office in Dubai gives you the independence to have it all – a residency visa, sponsoring your family members, and maintaining a bank account to manage your finances.
4. 100% business ownership
For setting up a project management office in Dubai, you require to obtain a professional / service license from the Department of Economic development (DED). Therefore, you will not require to handover 51% of your company shares to a local partner and have complete control over your operations and finances.
5. No address required for project management office
Project management offices do not require to have an office address in the first year to carry out their business activities. While the applications for several types of licenses require you to have an office space and an ejari (property lease agreement), this category allows you to operate without a physical office space.
6. Work with the UAE government
Your project management office can assist with government projects as well. When it comes to putting your eggs in different baskets, a project management license allows you to truly experience it. Tap into the right sources and you can take up civic projects as well.
7. Enjoy the high quality of life
Dubai is not only popular among the international business community for the global connectivity, its strategic proximity with other business hubs, it also offers a high quality of life to its residents. Add to this, the city was recently voted one of safest places in the world to live in. Furthermore, Dubai is also known for its shopping destination, multi-cuisine delights and touristic attractions.
Explore setting up project management office with company formation experts
Besides all the aforementioned reasons for setting up a project management office in Dubai, you also have the best support required for your company formation with Shuraa Business Setup. The enterprise will not only provide you with free consultation and help you figure out feasible business options, but they will also assist you with all the documentations and legwork. To speak with our corporate legal advisors, call on +971 44081900. You can also chat with us by sending a WhatsApp message to +971 501287254 or drop an email to firstname.lastname@example.org