How to Setup a Consulting Business in Dubai?

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How to Setup a Consulting Business in Dubai?

A consulting business is a type of business in which the main task is to provide consultation to other businesses regarding their finances, marketing, logistics, IT, shipping, etc. The companies or individuals who are in the consulting business are highly specialized in different business activities. The main purpose of consulting is to understand the problems of the clients and find a possible solution through the industry knowledge they have.

In UAE, there are various opportunities for investment, but usually, it has been seen that investors do not have enough expertise in the local business environment, and private equity operations, so they need consulting services from local experts for effective strategic planning.

Here in this article, we will discuss how to build a consulting business. The process of consulting company registration in Dubai is pretty much the same as for any enterprise in the UAE – quick and easy.

Examples of Consultancy Licenses In Dubai

The professional license is mandatory for all service-oriented businesses and the most popular consultancy licenses are:

1. Information technology consultancy.
2. Architectural and engineering consultancy.
3. Management, information, and marketing consultancy.
4. Banking, finance, and credit consultancy.
5. Healthcare consultancy.
6. Legal consultancy.
7. Tax, accounting, and bookkeeping consultancy.

Process to Start a Consulting Business in Dubai

If you are planning to set up a consulting business in Dubai, then you must follow these four steps to obtain a license for a registered business:

1. Choose your business activity

Before starting the business registration process, you must find the activities which specify the business operations. So, to pursue a consultancy business you should specify the industry your company will engage with.

2. Choosing Company Name

The company have to choose at least three preferred names for your company as per the naming standards, rules, and regulations. The general naming guidelines are as follows:

• The company name should reflect your business interests, not contradict them.
• The name should be translated into English and Arabic language without vulgar words or phrases.
• Choose a unique company name which is not used by any other existing company and the name should not be trademark registered.
• The name can not include any reference to God’s name in either English or Arabic language.

3. Apply for a Consulting License

In this step, you have to apply for a trade license for your consulting business. If you are on the mainland then the license application can be directly sent to the Department of Economic Development. The decision of choosing whether you want to set up a company in the mainland or a free is crucial and it is advisable to take expert advice to avoid delays and rejection of the application.

Documents Required for Business Consultant License

To take the process of company formation in Dubai to the next step, you have to submit several documents along with your application. The documents are as follows:

• A copy of your passport.
• Several passport photos.
• Proof of relevant experiences or qualifications.
• No Objection Certificate from your current employer (in case of an individual).

Apply for the license and company registration in Dubai of your company. You'll need to choose the appropriate office option for your new business and provide details on the shareholding structure, company name, and business activity. Your CEI will coordinate with the authority to issue the trade license, share certificates, company memorandums, and articles of association.

4. Visa Application

This is the final step that is applying for the visa. To get the visa you have to go through four stages including a medical fitness test and biometric capturing. To complete this process, it usually takes one week. It is valid for one year and enables you to hire employees inside and outside the UAE.

Also, you and your employees need a visa to legally reside and work in the UAE. Having a residency visa allows you to open a personal and a business bank account, obtain a driver’s license, rent a car or house, have unrestricted access to all government services, and seek employment in the UAE.

Different Types of Consulting Firms in Dubai

The different types of consulting firms that you can start in Dunai are as follows:

1. Marketing Consultancy: The marketing sector is very broad and full of opportunities from evaluating current market efforts to creating plans as per the trends. Also, a marketing consultant helps with email marketing to sponsor acquisition to content creation.
2. Operations Consultant: Consultancy activities in this segment vary from advisory services to hands-on implementation support for both primary functions as well as secondary functions such as finance, HR, supply chain, legal, etc. Also, they assist the company in streamlining the process or improving its operational performance.
3. Financial Consultancy: The consultants who are in this sector help their clients with risk management, tax restructuring, or real estate consultancy. The main motive is to assist businesses in better managing the money, increase profit, and ensure the smooth running of the company in the bottom line.
4. Technology Consulting: Consultants who provide consultancy services in technology provide a guarantee that the company’s software and technology will work effectively. The tasks of IT consultants can vary from software administration to data analytics.
5. Human Resource Consultant: The HR consultants help in talent management, retirement, terms of employment, learning & development, and change management. Also, helps in transforming the business culture of the organisation.

Conclusion

To conclude, it's advisable to start a consulting business in the UAE due to the country's pro-business landscapes, clear legal and economic frameworks, and free zones. Consulting is one of the growing industries in UAE, with limitless options for consumers, especially in key industrial areas such as finance, medicine, and oil and gas.

To avoid future consequences, completing the consulting business setup company in Dubai process properly is a must. Also for lower risk, it is advisable to seek professional advice. We at Registrationwala have a team of experts who can guide you throughout the process. Reach out to us to know more about the process.

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