The tax-free regime, pro-business landscapes, clear legal framework, and economic structure of UAE together offer an entrepreneurial nirvana for emerging industrialists and investors. As the country’s economic stability is rising in the foreign market, it is welcoming start-ups and SMEs into the region. And although there are ample opportunities for all kinds of industries in the UAE, consultancy remains the most lucrative business sector. Besides, in an ideal business environment like Dubai and UAE, consultancy companies tend to prosper. In fact, the leading industries like oil & gas, banking, business management, healthcare, etc. seek consultancy services in Dubai. This is why consultancy firms and business setup consultants in Dubai are more in demand.
Therefore, in such a case, setting up a consultancy firm in Dubai and UAE can be a profitable idea as it can attain rapid growth in a brief period of time with a small pool of talent. On the other hand, it also requires a large customer base with significant market arrangements. Hence, this blog will share the most essential details related to setting up a consultancy firm and how it can emerge as the most flourishing sector in the overall UAE.
Popular consultancy services in Dubai
Consultancy licenses are issued for service-oriented businesses. They are usually granted on the basis of your educational background as well as your professional experience in that particular field. The most common activities that come under consultancy license include the following –
- IT consultancy
- Business administration and management consultancy
- Marketing consultancy
- Architecture and engineering consultancy
- Banking and finance consultancy
- Medical and healthcare consultancy
- Legal consultancy
- Tax and accounting consultancy
- Bookkeeping consultancy
- Business setup consultancy
- Human resource and project management
- Operational consultancy
- Sales & advertising consultancy
- Petrochemical consultancy
To know more about the consultancy services and the license, reach out to Shuraa business setup consultants in Dubai.
Benefits of opening a consultancy firm in Dubai
Providing consultancy services in Dubai calls for a plethora of benefits for start-ups as well as emerging businesses, such as –
- Infinite growth opportunities
- Diversity in economy
- Flexibility in work
- Earning potential
- Easy establishment
- Variety in work
Key points to consider while starting consultancy business in Dubai
While mapping out your consultancy business, you need to keep in mind a few significant things that will help you establish a leading firm in the industry.
- Weigh your strength and skills
- Ascertain your marketing and advertising requirements
- Practice organic marketing
- Invest in the right tools for the trade
- Choose your staff wisely
- Practice your elevator pitch
- Prepare some client proposal templates
- Set your pricing structure
- Stay organized and focused, and deliver results accordingly
On the whole, you need to have the required confidence, experience, and resources, no matter if you plan to go big or go small with your consulting business. This will, thus, help you manage your workflow and meet your corporate expectations. The business setup consultants in Dubai can walk you through every step of your Dubai consultancy business establishment process and help you receive your business license fast through their ongoing guidance and support.
Step by Step process – Start a consultancy business in Dubai, UAE
People who aim to start a consultancy business and become business setup consultants in Dubai, have to follow some basic yet simple steps –
Choose your business activities
Although consulting is the activity you are going to pursue in Dubai, it is important to determine what exact area you are planning to trade in. In other words, among the DED’s entire list of traditional consulting practices such as business management, HR consultancy, IT consultancy, sales consultancy, etc. whether which field of consultancy you want to choose, based on your expertise and knowledge.
Business setup consultants in Dubai can help you choose the one that aligns with your business project.
Finalize a suitable company name
You need to provide at least three preferred names for your company to the competent authorities. However, ensure to follow the pre-defined standards, rules, and regulations while choosing the names for your company. For instance,
- The company name must reflect the interests of your business.
- The name must be translated into English and Arabic language without using any vulgar words or phrases.
- It should not have been used by another business or resembling any other business name.
- The company name should not be already registered in the DED records.
- Avoid including any reference to God’s names both in English and Arabic.
- Ensure to include the business activity in the company name. For example, Smith & Co. Management Consulting
Furthermore, make sure that the selected name is eligible as well as available for registration.
Apply for the consultancy license
The most important step in the company formation process is to register your consultancy business for a trade license. The registration and licensing authority depend on the location you choose for your consultancy services in Dubai. For instance, if you set up your company in Dubai mainland, the DED will look after your licensing formalities. Whereas if you choose a free zone for your consultancy agency, then the respective free zone authorities will issue the business license for your firm.
While applying for your license, you must also submit some supporting documents for reference. After a comprehensive examination and verification of the submitted credentials, the authorities will issue the license to the company.
On the other hand, if you want to prevent any kind of delays or potential dismissal in this vital step, it is advisable to work with the business setup consultants in Dubai.
Get your company establishment card
If you want to apply for a residence visa or employees visa in the future, it is compulsory that you register your company with the Federal Authority for Identity, Citizenship, Customs, and Port Security. It further helps you get an establishment card that serves as your company’s registration with the General Directorate of Residency and Foreign Affairs (GDRFA). It facilitates the recruitment of employees inside as well as outside the UAE. Furthermore, you can also apply for foreign investors, partners, and employment visas with an establishment card.
The validity of this card is one year which has to be renewed accordingly to avoid any fines or penalties. Any delays can lead to interruptions in all new visa applications.
Process your residency visa
If you, your staff, or dependents want to legally reside and work in the UAE, you need to possess a visa for that. The type of visa and the sponsor determine the duration of an individual to stay on a residence visa. Additionally, there are several advantages of holding a residence visa in the UAE, such as –
- Liberty to open a personal as well as a business bank account
- Right to obtain a driver’s license
- Rent a residential property, car, or house
- Unrestricted access to all government services
- Pursue employment in the UAE
This particular process may include various steps including biometric scanning, medical fitness, etc.
While setting up as consultants in Dubai, you need to submit the following documents along with the application form –
- Passport copy
- Passport sized photos
- Updated CV/portfolio of relevant experience and qualification
- NOC from the current sponsor, if applicable
Shuraa Business Setup can help you set up your consulting business in the UAE smoothly, by providing you with the best services based on your company specifications, requirements budget, and timeline. We are indeed the best business setup consultants in Dubai possessing good experience and expertise gained by helping thousands of individuals and firms set up their consultancy business in the UAE. Furthermore, we are highly proficient in taking care of all business setup and license complexities swiftly as well as easily.
So, join us and make a good start on your journey of setting up your business in the UAE. Call +971 44081900 or email us at [email protected].
