The United Arab Emirates is focused on attracting a diverse range of businesses and industries to operate in the country by encouraging them with supportive legislation, effective business policies, liberal business laws, and low tax rates. The country has been a pioneer in introducing specialised zones for integrated business activities known as the free zones offering customised legal terms such as complete foreign ownership, no taxes, and lesser regulatory requirements for businesses that are ready to set up their operations in the zone.
Starting a Consulting Company in Dubai
Consulting business remains as popular activities carried out in Dubai, with a promising environment and business ecosystem foreign entrepreneurs, investors and business leaders are setting up their consulting business operations in the Emirate. Besides, the numerous free zones in Dubai offer attractive solutions for companies setting up their operations in them making it more profitable for foreign-owned companies.
Excluding the oil & gas industry, the consulting business is experiencing a steady growth in the recent years as the growth in the Dubai markets have created tremendous opportunities for business leaders to enter into the consulting business. In addition to this, foreign investment laws make it easier for foreign investors and business people to set up their company in Dubai without any hassles. Setting up and successfully running a consulting company has its difficulties and peculiarities such as targeting the right market (i.e., management, IT support services etc.,), finding the right niche to operate in that market, having a suitable team, and managing the same effectively.
However, before starting a consulting business as an owner or investor, you need to know about the processes involved, basic requirements, licenses and documents required for setting up your consulting company in Dubai. We can assist you through the process of getting licenses,
Requirements for Setting up a Consulting Company
- Must have a local sponsor if you are planning to set up your Company in the Mainland
- Must obtain authorisation for office space from DED (if Mainland) or Free zone authority
- The business owner or investor must have a valid passport
- Must obtain No Objection certificate from a government security authority
Types of Consulting Businesses that you can Start in Dubai
- Advertising Consulting including print ads, billboards, radio and television ads, multimedia adverts, and email ads
- Marketing Consulting
- Media & Entertainment Consulting
- Financial Consulting including financial statements and performance analysis, market research, analysis, price trends and forecasts, feasibility studies, consulting on securities, commodities and related contracts, investment portfolio modelling, financial advisory services, financial planning, investment consulting
- Financial Advisory Consulting including corporate finance, transaction services, restructuring, risk management, forensics and litigation
- Human Resources Consulting including training and development, employee engagement and satisfaction, conflict resolution, employee benefits and pensions, talent mobility
- Strategic management Consulting
- Operations Consulting including process management, procurement, outsourcing, and supply chain management
- Risk & Compliance Consulting
- IT Consulting including systems integration, enterprise architecture, software management, and data analytics
- Business Consulting
- Environmental consulting
- Software & Technology consulting
- Engineering consulting
- Sales consulting
It is essential to know that if your business is targeting specific niche markets such as IT or Oil & Gas, then you need to obtain licenses for the same by complying with the specific requirements given by the designated governmental authority.
Process for Registering a Consulting Company in Dubai
Fill the application form and submit the documents mentioned above to the Department of Economic Development after attesting the same from a public notary service
Draft the Memorandum of Association (MOA for your company with the sponsor of the firm comes under mainland jurisdiction
Obtain approval from the municipality for the tenancy contract, if the office is taken under a rental agreement
Prepare all the forms as mentioned earlier and submit the documents and forms with attestation
Pay the processing fees at the counter and acquire the license
Documents Required to Get the License for a Consulting Business in Dubai
- An application form from the DED
- For foreigners starting the business, passport copies of the owner and the partners (if there are any)
- Initial approval from the authorities (Municipality, Roads and Transport Authority (RTA), National Media Council, etc.) depending upon the type of consultancy firm
- No-Objection Certificate (NOC) from sponsors for foreign partners, if the expat is already on an employment visa
- If the shareholder is on a visit visa, then their Unified Number (UID No.) is required
- If it is an advertisement consultancy, the company has to take permission from the relevant authorities to display banners, pamphlets and other such sources of promotion
If you are interested in knowing more about the consulting business in UAE. Contact us; our team in Dubai can guide you through the process of incorporation, licensing and support your business in fulfilling all the legal requirements according to the UAE laws.