Management consulting services help businesses thrive. The diversity of the United Arab Emirates (UAE) economy sees management consultants and business advisors as a necessity for success. Strategy consulting for any business venture, whether large or small, optimises a company for sustainability and profitability.
To open a management consultancy business in Dubai, you’ll first need to get a management consultancy license in Dubai. Trade License Zone will guide you to getting your consulting license with our expert advice.
Let’s start right away. In this article, we’ll look into:
- Benefits of starting a management consultancy in Dubai
- Steps to start a management consultancy in Dubai
- Cost of a management consultancy license
- Working with Trade License Zone
Benefits of starting a management consultancy in Dubai
Management consultants in Dubai offer many attractive benefits. As we have already mentioned, Dubai and the UAE’s diverse economy require the expert advice of business consultants with quality services to enable companies to grow and prosper – no matter the industry or size.
These pro services are required by clients to help in the optimisation of processes and systems to streamline companies to be more efficient, agile, and profitable. A management consultant can deploy a strategy to grow a business.
Dubai’s local laws make company incorporation and foreign investment straightforward for business setup.
Another benefit of starting a management consultancy in Dubai is that business owners aren’t required to pay personal or corporate income tax.
Also, the high level of living standards in Dubai, its cosmopolitan population comprising 90% foreigners, and its ideal East-meets-West location in the Middle East make it one of the most sought-after business hubs in the world.
Steps to start a management consultancy in Dubai
All companies trading in the UAE need to adhere to specific regulations for business setup, structure, company naming, business activities, and more. In this section, we will give you the steps to start a management consultancy in Dubai.
Step 1: Partner with Trade License Zone
Opening your management consultancy business in Dubai starts when you partner with Trade License Zone. Our professional business setup services manage all aspects of your company’s registration and company formation processes, and we guide you on the various governmental and municipal trade regulations for a management consultancy license in Dubai.
Step 2: Determine your business activities
Establishing your company’s business activities is important for your management consultancy license in Dubai. Your management consultancy license enables you to carry out several activities under local laws. Failure to list all your business activities may cause penalties. That’s why it is best to partner with a company formation expert such as Trade License Zone to make sure that your license application and business activities are aligned.
Step 3: Choose a company name
Trade License Zone will help you choose and register your management consultancy company’s name with the UAE’s Registry Office. The business name must adhere to the UAE’s naming policies, including that a business name cannot include any offensive or blasphemous language, nor any references to Allah or Islam. You can use your name in the company’s name, but you must use it in full instead of just your surname or initials.
Step 4: Choose the right business structure and jurisdiction
To further stimulate Dubai’s economy, the UAE created innovative business zones, each with regulations to support specific industries. It established two main types of business zones in Dubai: Mainland and Free Zone Companies. As a business owner, you can choose either of these business structures, but it is important to understand the differences so that you can make the best decision for your business.
A Mainland Company enables businesses to trade within the UAE. A foreign national investor or entrepreneur is limited to holding only 49% of a business’s shares. The UAE’s laws require that a UAE national owns 51% of the shares in a partnership with foreign-owned Mainland Companies.
A Free Zone Company can be 100% owned by a foreign entrepreneur or investor. They can register it in one of over 40 special trade zones in Dubai that offer special benefits to foreign business owners. These services include startup support structures, business incubators, financial support, and more.
If you’re unsure whether to choose between a Mainland or a Free Zone Company, our expert business advisors at Trade license Zone will help you decide.
Step 5: Choose the office type and size
Not all businesses in the UAE require physical office spaces. The global trend since the COVID-19 pandemic has been towards remote office spaces. For a management consultancy license in Dubai, a business owner must rent at least a flexi office space or an executive office.
There are many types of flexi office solutions, from hot-desk setups to co-working spaces, office-share solutions and executive offices. The business activities of management consultancies in Dubai will also determine the type and size of office space required for your business license.
Trade License Zone will guide you in this step, helping you to secure the right office setup according to the company’s jurisdiction, license requirements, and budget.
Step 6: Management consultancy license application
This is the last step in getting your management consultancy license in Dubai. To ensure that you don’t make any mistakes that will not only cost you time but money too, it is advisable to let company formation experts such as Trade License Zone help you.
A management consultancy license is issued to business owners in two ways: by applying through a Free Zone or directly with the Dubai Department of Economic Development (DED). Along with a completed application form, you will be required to submit the following documents:
- Copies of the business owner’s or shareholders’ passports and visas
- Two colour passport-sized photos
- Copies of government authorisation, municipal approvals, and other relevant government agencies particular to your specific type of management consultancy company
- No Objection Certificate (NOC) from your visa sponsor, if applicable
Step 7: Apply for your visas and corporate bank account
After you’ve applied for your management consultancy license in Dubai, you need to apply for your visa and open your corporate bank account.
Opening a corporate bank account can be a complicated process. Contact our specialist team at Trade License Zone to help you select the one that best suits your business needs.
Cost of a management consultancy license
In Dubai, opening a management consultancy in Dubai’s Free Zone and or Mainland locations are affordable, but the precise costs vary. The cost of a Mainland Company license is determined by the legal category of the license application. For a Free Zone business license, the costs vary depending on the business activities, Free Zone location, and company structure.
A management consultancy license costs between AED 15,000 and AED 25,000. If you’d like an accurate quote, contact our team at Trade License Zone to help you.
Working with Trade License Zone
Setting up a management consultancy and getting a management consultancy license in Dubai is fairly simple thanks to the UAE’s business-friendly laws. However, the license application and business setup remain complex processes. When you partner with Trade License Zone, we will save you from unnecessary delays or rejections and streamline the entire process for you.
The experts at Trade License Zone can get started by simply providing us with some basic documentation and a little information about the nature of your company and business activities. Then, sit back and let our team take care of the rest. We’ll manage your management consultancy company license and visa applications, communicate with all relevant local departments and authorities, and report back when you’re ready to trade. It really is that simple.