Do you intend to start a consultancy business in Dubai? Read on to learn why it might be a smart idea and how to do it. Have you ever thought about why so many consulting firms want to work in Dubai?
Dubai is merely a busy center for consultants from all over the world. All business entities have the potential to grow, from solitary practitioners to a fully functioning consultancy business. Do you need to know how to start a consulting business in Dubai? It’s not as hard as you may imagine. You only need the appropriate advice. We’re going to show you in this blog post how to do it simply.
What does a consulting business mean?
What is business consultancy? A consulting business facilitates individuals and companies with a wide range of concerns by giving them advice. It can help with multiple queries, including monetary, legal, technical, business, and more.
All consultants who work in the consulting sector, whether they work for a consulting firm or as freelancers, are quite knowledgeable about their field. Business consulting in Dubai is a very broad field. So, each consultant only works in one specific area of expertise.
Various Kinds of Consultancy Activities
Business consultancy is a broad field that has multiple kinds of activities.
HR Consultancy Firm
The HR consultancy business in Dubai includes hiring people, making plans for pay and benefits, developing performance management systems, and restructuring organizations. There is a considerable concentration on complying with the UAE labor laws and measures for Emiratisation.
Marketing Consultancy Firm
Dubai Marketing Consulting’s main areas of expertise include strategy for digital media, establishment of brands, market entry analysis, and lead creation. Managing social media and making campaigns more relevant to the UAE market are two important tasks.
IT Consultancy Firm
Digital evolution, cybersecurity, shifting to the cloud, and IT approach creation are all things that Dubai IT Consulting works on. Managing and improving IT infrastructure and offering outsourced help to organizations are two of the most important jobs.
Finance and Accounting Consultancy Firm
Accounting and Finance consultancy business in Dubai supports businesses with VAT and business tax compliance, budgeting, auditing, and making long-term financial plans. Services frequently include outsourcing and managing risks to make sure the company adheres to local rules.
Strategy and Operations Consultancy Firm
In Dubai, strategy and operations consulting assist businesses in getting into new markets, improving their business models, and cutting costs. Restructuring and making the supply chain more efficient are two of the most significant tasks that need to be done for regional prosperity.
Legal Advisory and Consultancy Firm
Legal Advisory consultancy business in Dubai helps businesses set up their companies, write commercial contracts, settle disputes, and comply with UAE legislation. Most importantly, it reveals how to get a business license for free zones and remain compliant.
Healthcare Consultancy Firm
In Dubai, healthcare consulting is all about improving how hospitals run more efficiently, developing clinical service lines, and using digital health technology. They are competent to assist in getting a business license and legal compliance for emerging healthcare facilities and service providers.
License for Consulting Business in Dubai
The UAE’s multifaceted economy is an ideal setting for consulting businesses from all over the world. Getting a professional license in Dubai is the most essential task you need to do. There are multiple firms to help you. You can apply for a consultation license by sending in the right papers and paying the fee, based on your skills and experience.
These processes are hard and need the support of professionals with the appropriate skills to help you start your business consultancy in the UAE and figure out if you’re offering your services in the right region. These are all minor aspects that are very significant for ensuring success.
How to Start a Consulting Business in Dubai
If you intend to open a consultancy business in the UAE, you need to know the legal and licensing procedures so that your business runs smoothly and adheres to all the local rules.
Determine your activity
Choose what kind of consulting services you intend to offer. The UAE’s economic authorities already organize enterprises into groups. The right category should make sure that all aspects run well and comply with the rules.
Register the business name
Your business name needs to adhere to the guidelines established in the UAE. Avoid including any inappropriate phrases or city names in it. The name needs to be different from other names and show that it offers consulting services.
Selecting the jurisdiction
You can start up a consulting business in three jurisdictions:
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- In the Mainland, the DED must provide its approval, and the firm can be run from anywhere in the UAE.
- The Free Zone offers tax breaks, full ownership, and a simple establishment, although there may be trade restrictions.
- Offshore is the best option for international operations as it has cheaper startup expenses. However, you are unable to conduct business directly in the UAE.
Acquire the consultancy license
To run a consulting business, you need a trade license. You must provide the necessary papers to the right licensing authorities. Pay the registration charges after you get the approval.
Leasing office space
Choosing the right office space is extremely crucial for the effective functioning of your consulting business. The city’s ever-changing business scene has multiple choices with varying preferences and budgets. Your choice should be in line with the clients your business serves and the image of competence you intend to project.
Getting a corporate bank account
The final action that you need to do is create a bank account. PRO Services for Startups can help you find the right bank account for your business and handle every step of the application procedure.
Primary Advantages of Setting up a Consultancy Business in Dubai
We have shared below the main benefits of setting up a consultancy business in Dubai:
Rising Demand for Consultancy Services
As businesses grow, there is always a rising demand for expert consulting services in various business fields to remain compliant and successful.
Flexible Approach
As a consultant, it’s really convenient to manage your tasks and time efficiently. Even if you don’t work for yourself and work for a consulting company, they let you work based on your preferences.
Tax Breaks for Businesses
The Emirates offers businesses various tax benefits for different activities. It helps them save funds and make the most profits. Start a business in the UAE and enjoy tax breaks with higher profitability.
Legal Criteria for Consultants in the UAE
You will need the following to remain compliant with the law.
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- A business license lets you work as a consultant professionally.
- You need to send in a copy of your authorized passport and a current photo.
- Businesses on the Mainland must have enough capital and financial proof to show.
- These are needed from the right government authorities based on the business category.
- External approval is needed from the relevant authorities.
- If you work with others, you need to sign a written agreement.
- Compliance with safety and health laws implies adhering to the rules to avoid fines or losing your license.
Cost of Setting up a Consultancy Business in Dubai
There are numerous things to consider when starting a business management consultancy, like the type of business, the space needed for an office, license costs, and more. Most of the UAE free zones charge less, let you register your business quickly, and give you more options for starting a business.
Get in touch with our specialists to find out how much it costs to start a consulting business in Dubai right now!
Conclusion
Starting a consulting firm in the UAE is a great idea as the economy is strong, the location is ideal, and the business climate is favorable. By following the right steps, getting the right licenses, selecting the right jurisdiction, and implementing the local rules, businessmen can successfully start their consulting business.
The UAE is still an excellent option to start a consulting business as there is a higher demand for specialized expertise in various industries, and the government supports firms. To be successful in this fast-changing market for a long time, you need to prepare carefully ahead of time.
Let KPMPRO help you start a consulting business in the UAE with the help of pros!
FAQs:
Do I need an office space to start a consulting business in Dubai?
Mainland arrangements need to have a real office. Free Zones frequently include flexible solutions, such as virtual office packages or flexi-desks, to match your needs.
What is the cost to get a consultancy license in Dubai?
In Dubai, the cost of a consultancy business license is usually between AED fifteen thousand and AED thirty thousand. The average cost of a Mainland consultancy license is about eighteen thousand five hundred AED.
Do I own my consultancy business completely in the UAE?
Yes, you can operate and own your consulting business in Dubai without requiring a local sponsor or partner.
