Introduction: The New Frontier for Chartered Accountants

The Institute of Chartered Accountants of India (ICAI) has set its sights on the rapidly expanding opportunities for Indian Chartered Accountants (CAs) in the Gulf Cooperation Council (GCC) region. As reported by the Press Trust of India, ICAI is bullish about the prospects for CAs in the GCC, especially as the region emerges as a hub for Global Capability Centres (GCCs) and financial services. This article explores the evolving landscape, the role of professional services firms, and how talent partners like Han Digital are crucial to this transformation.

ICAI’s Vision: Empowering Indian Chartered Accountants in the GCC

ICAI, the apex body for the accounting profession in India, has long championed the global mobility and recognition of Indian CAs. In 2024, ICAI’s leadership reiterated its commitment to expanding the reach of Indian professionals in the GCC, which includes the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain.

• Mutual Recognition Agreements (MRAs): ICAI has been proactive in signing MRAs with accounting bodies in the GCC, facilitating easier mobility and recognition of Indian qualifications.
• Professional Development: The Institute regularly conducts training, seminars, and networking events in the Middle East to keep members abreast of local regulations and global best practices.
• Regulatory Advocacy: ICAI actively engages with GCC regulators and employers to highlight the value Indian CAs bring to the table, especially in the context of evolving tax and compliance regimes such as VAT and corporate tax in the region.

According to ICAI President Ranjeet Kumar Agarwal, “The GCC region is witnessing a surge in demand for highly skilled finance professionals, and Indian CAs are uniquely positioned to address this need with their expertise and global outlook.”

GCCs in the Middle East: A Magnet for Indian Talent

Global Capability Centres (GCCs), also known as Global In-house Centres (GICs), are offshore units that deliver critical business functions such as finance, IT, HR, and analytics for multinational corporations. Traditionally concentrated in India, GCCs are now expanding into the Middle East, driven by strategic location, favourable business policies, and a growing pool of skilled professionals.

Key Trends Driving GCC Growth in the Middle East:

• Strategic Location: The GCC’s proximity to Europe, Africa, and Asia makes it an ideal hub for global operations.
• Business-Friendly Policies: Economic diversification, free zones, and regulatory reforms have made the region attractive for global firms.
• Digital Transformation: The push towards digitalization and smart cities is creating demand for finance, audit, and risk management expertise.
• Tax Reforms: The introduction of VAT and corporate tax regimes is driving demand for compliance and advisory services.

Recent Research: According to a 2024 report by Deloitte, the Middle East is expected to see a 25% increase in the establishment of GCCs by 2026, with finance and accounting among the top functions being offshored (Deloitte Global GCC Report 2024).

Opportunities for Chartered Accountants: Beyond Traditional Roles

As GCCs proliferate in the Middle East, the demand for Indian CAs is evolving beyond traditional audit and accounting roles. Today’s GCCs require professionals with expertise in:

• Financial Planning & Analysis (FP&A)
• Risk Management & Internal Controls
• Regulatory Compliance & Tax Advisory
• Business Process Transformation
• Digital Finance & Automation
• ESG Reporting & Sustainability

ICAI’s curriculum and continuous professional development initiatives ensure that Indian CAs are equipped with the latest skills to thrive in these dynamic environments.

The Role of Professional Services Firms in the GCC Expansion

Professional services firms—ranging from the Big Four to specialized consulting and talent advisory companies—play a pivotal role in enabling GCCs to scale their operations in the Middle East. Their services include:

• Market Entry Strategy: Advising on regulatory, tax, and legal frameworks for setting up GCCs.
• Talent Acquisition: Identifying and onboarding skilled professionals, especially in finance and compliance.
• Process Optimization: Implementing best practices for efficiency and risk mitigation.
• Digital Transformation: Supporting automation, analytics, and digital upskilling.

According to a 2024 KPMG survey, 78% of multinational companies planning to set up GCCs in the Middle East cited the availability of skilled finance and accounting talent as a key factor in their location decision (KPMG GCC Survey 2024).

Han Digital: The Talent Partner Powering GCC Success

As the GCC landscape evolves, talent partners like Han Digital are emerging as critical enablers for professional services companies and global organizations establishing capability centres in the Middle East.

Han Digital’s Unique Value Proposition

• Deep Talent Market Intelligence: Han Digital leverages proprietary research and analytics to map talent availability, compensation benchmarks, and skill trends across India and the GCC.
• Leadership Connect: With established relationships with senior leadership across industries, Han Digital understands the nuanced needs of GCCs and can source high-calibre finance professionals who fit both technical and cultural requirements.
• End-to-End Talent Solutions: From workforce planning to executive search and onboarding, Han Digital offers comprehensive solutions tailored to GCC setups.
• Advisory on Diversity & Inclusion: Han Digital helps organizations build diverse, future-ready teams, a key differentiator in the competitive GCC market.

In 2024, Han Digital partnered with several multinational professional services firms to support their expansion into the UAE and Saudi Arabia, providing strategic talent insights and facilitating the hiring of Indian CAs for leadership and specialist roles.

Case Study: Successful GCC Setup with Han Digital

Background: A leading global consulting firm sought to establish a finance and compliance GCC in Dubai. The challenge was to identify and attract top-tier Indian CAs with expertise in international tax, digital transformation, and regulatory compliance.

Han Digital’s Approach:

• Conducted a talent market mapping exercise across India and the Middle East.
• Engaged with ICAI chapters and alumni networks to identify high-potential candidates.
• Leveraged its leadership connect to assess candidate fit for the firm’s culture and growth ambitions.
• Provided advisory on compensation, relocation, and onboarding best practices.

Outcome: The client successfully onboarded a team of 30+ Indian CAs within six months, enabling a seamless GCC launch and rapid scaling of operations.

Challenges and Considerations for Professional Services Companies

While the GCC region offers immense potential, professional services firms and their talent partners must navigate several challenges:

• Regulatory Complexity: Each GCC country has unique legal, tax, and labour frameworks.
• Workforce Localization: Nationalization policies (e.g., Saudization, Emiratization) require a strategic approach to talent mix and compliance.
• Cultural Integration: Building cohesive teams across geographies demands sensitivity to local norms and practices.
• Retention & Upskilling: Continuous learning and career progression are critical to retaining top talent in competitive markets.

Han Digital’s expertise in navigating these complexities makes it a preferred partner for organizations aiming to establish and scale GCCs in the Middle East.

Future Outlook: What Lies Ahead for Indian CAs and GCCs in the Middle East?

The future is bright for Indian Chartered Accountants and professional services companies in the GCC region. Key trends to watch in 2025 and beyond include:

• AI and Automation: GCCs will increasingly adopt AI-driven finance processes, requiring CAs to upskill in digital tools and analytics.
• ESG and Sustainability: Demand for expertise in ESG reporting and sustainable finance will rise, opening new avenues for Indian professionals.
• Cross-Border Collaboration: As GCCs serve global markets, CAs with international exposure and cross-cultural skills will be in high demand.
• Policy Support: ICAI’s ongoing advocacy and collaboration with GCC regulators will further ease mobility and recognition for Indian CAs.

According to the Deloitte GCC Outlook 2024, the region is poised to become one of the top three global destinations for GCCs by 2026, with finance and accounting as core pillars.

How Professional Services Companies Can Leverage the GCC Opportunity

For professional services firms—whether global giants or niche consultancies—the GCC expansion represents a strategic growth lever. To maximize success, companies should:

1. Partner with Talent Experts: Collaborate with partners like Han Digital for data-driven talent strategies and access to top-tier Indian CAs.
2. Invest in Local Networks: Engage with ICAI chapters, business councils, and regulatory bodies to stay ahead of policy changes and market trends.
3. Prioritize Diversity and Inclusion: Build teams that reflect both local and global perspectives for better innovation and client outcomes.
4. Embrace Digital Transformation: Upskill teams in digital finance, automation, and data analytics to stay competitive.
5. Focus on Continuous Learning: Encourage CAs to pursue certifications in emerging areas such as ESG, AI, and international tax.

Conclusion: The Time is Now for Indian CAs and GCCs in the Middle East

The convergence of ICAI’s global vision, the GCC region’s economic transformation, and the expertise of talent partners like Han Digital is creating unprecedented opportunities for Indian Chartered Accountants. As professional services firms establish and scale their global capability centres in the Middle East, the demand for skilled, adaptable, and future-ready finance professionals will only intensify.

For Indian CAs, the GCC is not just a destination—it is a launchpad for global careers, leadership roles, and transformative impact. For professional services companies, partnering with the right talent experts and embracing innovation will be key to unlocking the full potential of this vibrant market.

Are you ready to seize the GCC opportunity? Connect with Han Digital and ICAI to start your journey today.