A huge number of foreign business people and entrepreneurs has been moving towards Dubai due to business-favorable tax and law policies, which have given rise to many new, and less-explored business industries. And one of them is consulting business in Dubai. The reason why the consultancy business is profitable is because of the unfamiliarity of foreign investors and entrepreneurs with the UAE legislature and business policies. And by becoming a business consultant, you can provide services to such people.
If you want to set up a consulting business in Dubai, and the UAE, you just need to acquire a consultancy license from the UAE government. In the license-acquiring process, we at Vigor can help you complete it smoothly and efficiently.
Consulting business in Dubai
Consulting business means providing consulting or advisory services to new or veteran local and international business individuals and entrepreneurs.
The consulting services can be related to legal formalities, financial aspects, technical background, or commercial considerations. One thing common in all professional consultants is that they work in consultancy firms in Dubai, or anywhere in the UAE and would be well-versed with the UAE regulations and highly expert in their consulting field.
To be honest, the consulting business in Dubai is a vast industry having expertise in different categories and aspects of the business markets and you cannot expect one consulting firm to cater to all the business requirements. Each consultant would be a master in one specific domain.
What are the responsibilities of a consulting firm in Dubai?
The business consulting firms in Dubai help businesses in the UAE make better market decisions and strategies in order to increase their business growth and rectify their performance.
Consulting companies can manage your company’s marketing, technological, advertising, and commercial sides. It is the need of every business, start-up, and enterprise in Dubai to have one expert consultant on board with their company to have more honest, unbiased and market-related feedback and outlook on your business.
How to get consulting business license in Dubai?
The rising economy of the United Arab Emirates makes the country an attractive opportunity for all worldwide consultancy firms. But to start your consulting business in Dubai, you have to acquire a professional license in Dubai for that. The process of obtaining a license requires you to submit the relevant documents and pay the fee.
With the help of Vigor company setup consultants, we can make this overwhelming and long-steps process easy and hassle-free for you.
How to set up a consulting business in Dubai?
Whether you are going to set up a free zone consultancy firm or a Dubai mainland consultancy brand, for both you have to follow similar instructions. A few documents you are required to provide are:
- Passport copies of your shareholders
- Visa copy of shareholders
- One-year tenancy contract approved by Ejari
1: Business activity
The first and foremost thing to do for consulting license is to decide the specific activities you want your consulting business to cover. For example, which area of consulting do you want to cater to? If you are not sure about it, it won’t be possible to love ahead of the licensing process.
2: Company name
The second priority is to choose a company name for your consulting business in Dubai, UAE. The company name of your business consultancy will be registered before the license so it is important to give it proper heed. There are a few considerations you need to mind while coming up with the name for company registration:
- The name has to be unique, and available (means no business already has it, be it related to your consulting market or not)
- Names shouldn’t be offensive or blasphemous or related to any religion, public, or holy figure.
3: License application
After deciding on the business activity, and area of consulting, and naming your company, now you can apply for the license. The trade license application can be done by yourself or any UAE freelancer company formation consultant can also manage that. In fact, it is better to work with a business setup company in the UAE to eliminate the risk of getting rejected and make your application free from errors.
4: Visa applications
To offer consultancy services, with a trade license, you are also required to get a residence visa. With the license, you also have the choice to sponsor visas for your family and employees.
5: Fee payment
Once you submit the required documents and application, you will be asked by the Dubai Department of Economic Development (DED) to pay the license fee. After paying the fee, you will get your license in a matter of a few days. And you will be ready to start a consulting business in Dubai.
What is the cost of starting a consulting business in Dubai?
The normal cost of consultancy company formation ranges from AED 12,000 to AED 25,000. However, there are many additional permits and approvals from different UAE ministries. All those permits can vary the standard price quote of starting a new company in the consultancy market.
Also read: How to choose best VAT Consultant in Dubai
What kind of consultancy services you can provide in Dubai?
Following are the lucrative business types of consulting services businesses in Dubai:
- Interior and building
- Tax consultancy
- Management consulting or management advisory
- Human resources
- Project management
- Corporate consulting
- Information technology
- Strategy consulting
- Petrochemical consultancy
The benefits of starting consulting business in Dubai
Starting a consulting business in Dubai is an attractive opportunity for entrepreneurs looking to capitalize on the city’s booming economy.
- With its rich cultural heritage, vibrant business environment, and well-developed infrastructure, Dubai provides an ideal setting for successful consulting businesses.
- The city offers excellent tax incentives for foreign companies, as well as a range of legal and financial services to help business owners get started.
- Dubai is home to multicultural talent from around the world, making it easier to find experienced professionals with the skills needed to provide quality consulting services.
- The city’s strategic location at the heart of the Middle East makes transportation relatively easy and cost-effective.
- The tax exemption regime and reliable business policies make it an ideal place to have any big business set in Dubai.
In short, starting a consulting business in Dubai has numerous advantages for entrepreneurs looking for success in this dynamic market.
Consulting business in Dubai
With all the growth opportunities in Dubai’s free zone and the mainland, opening a business that provides services to other businesses is an amazing business. Consulting business in Dubai is not only a cost-effective business idea, in fact getting a license for this is also easy and requires minimal documents and approvals.
Vigor can assist you in setting up a consulting business in Dubai by providing all the expert services. With us, you do not have to worry about the documents or any approval.