The consulting industry is booming, with a market value reaching a whopping one trillion U.S. dollars in 2023. The industry hit its first trillion-dollar milestone in 2022, and it’s only growing from there. If you’re thinking of diving into this dynamic field, now is the perfect time to learn how to register a consulting company in the UAE.
But first, what exactly is consultancy? Simply put, it’s the art of providing expert advice to businesses to help them thrive. Consultants work across various sectors, from HR and finance to IT and marketing, offering insights that can streamline processes and boost profitability.
The UAE is a hotspot for consulting, holding the second-largest market in the Gulf region, right after Saudi Arabia. The market grew by 16.6% in 2021, reaching a value of USD 736 million. With financial services and the public sector leading the way, and cybersecurity rapidly catching up, there’s plenty of opportunity here.
Ready to start your consulting journey? Let’s walk you through the steps to get your consulting company up and running in the UAE.
How to Register a Consulting Company
Before you can get your consultancy license, you need to decide on your business activity. The UAE offers a wide range of options. Whether you’re interested in educational consulting, helping students ace admission tests, or immigration consulting, guiding applicants through the visa process, there’s a niche for everyone.
You could also explore areas like company formation, strategy building, project management, investment advisory, and much more. Each of these fields offers unique opportunities to make a real impact.
For instance, if you’re passionate about technology, you might want to dive into IT consulting. Or if you’re more of a numbers person, financial advisory could be your calling. The beauty of consulting is that it allows you to specialize in what you love.
Steps to Register Your Consulting Company
Now that you’ve chosen your business activity, it’s time to learn how to register a consulting company. The process is straightforward, but it requires careful planning. Here’s how to do it:
Selecting a Business Structure
First, you need to choose a business structure. The UAE offers several options, including Mainland, Free Zone, and Offshore. Each comes with its own set of benefits and challenges. For example, setting up in a Free Zone might be more cost-effective, but a Mainland company offers more flexibility if you want to do business across the UAE.
Name Approval and Initial Approval
Once you’ve picked your structure, it’s time to name your company. The name should comply with UAE guidelines, so make sure it’s appropriate and unique. After that, you’ll need to get initial approval from the Department of Economic Development (DED). This involves submitting some essential documents and getting the green light to proceed.
Depending on your chosen field, you might also need specific approvals from other authorities. For instance, if you’re going into real estate consulting, you’ll need approval from the Real Estate Regulatory Authority (RERA). If you’re planning to offer legal consulting, the Government of Dubai Legal Department will need to sign off.
Consulting Business Legal Requirements
How to Obtain a Consultancy License in the UAE
Getting your consultancy license is the next big step. You have two main options: Mainland or Free Zone. Both have their perks, so choose the one that best suits your business goals.
If you opt for a Mainland consultancy license, you’ll benefit from 100% foreign ownership and the ability to take on government contracts. You’ll need to appoint a local agent, but this option offers incredible flexibility.
On the other hand, setting up in a UAE Free Zone could be more cost-effective, especially if you’re starting small or testing the waters. Free Zones provide excellent infrastructure, a strong business network, and an ecosystem that’s perfect for growing your consultancy.
Documents Required for Consultancy License Application
To apply for your license, you’ll need a few key documents:
- A filled application form with supporting documents.
- Copies of your and your partners’ passports and visas.
- Two passport-size photos.
- Specific government approvals, depending on your consulting activity.
- You’ll need their unified number if a shareholder holds a visit visa.
Step-by-Step Process for How to Register a Consulting Company
Ready to get started? Here’s a quick rundown of the steps to get your consultancy license in Dubai:
- Choose Your Business Activity: Decide what consulting services you’ll offer.
- Register Your Company’s Name: Make sure it’s unique and complies with UAE regulations.
- Select a Business Structure: Choose between a sole proprietorship, LLC, or branch office.
- Pick a Location: Decide whether to set up in the Mainland or a Free Zone.
- Find an Office: Choose a space that fits your budget and business needs.
- Apply for Your License: Submit your documents and pay the required fees.
- Obtain Your Trade License: Once issued, you’re officially in business!
After you’ve got your license, you can apply for a UAE residence visa and open a corporate bank account to get everything up and running.
Cost to Start a Consulting Company in Dubai
Setting up a consultancy business in Dubai involves more than just acquiring a trade license. It’s essential to consider various costs that come into play during the setup process. Understanding these costs upfront can help you plan your budget more effectively.
One of the most attractive options for starting your consultancy in Dubai is through a free zone. Free zones offer several advantages, including 100% foreign ownership, tax exemptions, and simplified procedures. But what about the costs?
At Bestax, we offer an all-inclusive limited-time offer for setting up your business in SHAMS free-zone at just AED 5,750. Here’s what you get:
- Free-zone Trade License: This package covers all government fees, so you don’t have to worry about any hidden costs.
- Lease Agreement in the Free Zone: Secure a business address with a lease agreement included in the package.
- Select Your Preferred Activity: Whether you’re interested in IT consulting, financial advisory, or any other field, you can choose up to three activities that suit your business.
- 100% Ownership: Enjoy your 100% ownership.
- Free Digital Banking Solution: Manage your finances with a free digital banking solution to make your process seamless.
- Dedicated Consultant Support: Get expert guidance every step of the way, ensuring a smooth setup process.
Launching your consultancy firm in Dubai is an exciting venture, and with the right package, you can confidently start your business. Bestax’s comprehensive package offers everything you need to get started, making the process straightforward and hassle-free. Get a free consultation from the experts now!
Conclusion
Setting up a consulting company in the UAE is an exciting journey, filled with opportunities. By following these steps, you’ll be well on your way to making your mark in this thriving market.
Ready to take the next step? Contact Bestax today for expert assistance with every aspect of your consulting company registration.
FAQs on How to Register a Consulting Company
What are the steps to register a consulting company?
- Choose a business activity.
- Select a business structure (Mainland, Free Zone, Offshore).
- Register your company name.
- Obtain initial approval from relevant authorities.
- Submit required documents.
- Obtain your trade license.
How much does it cost to register a consulting company?
Costs vary depending on the business structure and location. Bestax offers a comprehensive package starting at AED 16,900, including government fees and a Free-zone trade license.
What legal requirements are needed to start a consulting company?
You need a valid trade license, approvals from relevant authorities, and compliance with UAE regulations. Depending on your consulting activity, specific government approvals may be required.
Can I register a consulting company online?
Yes, many steps, including company name registration and document submission, can be completed online through the relevant government portals.
What documents are required to register a consulting company?
Typically, you’ll need a completed application form, passport copies of shareholders, visa copies, passport-sized photos, and any necessary government approvals.
How long does it take to register a consulting company?
The registration process usually takes 1 to 4 weeks, depending on the complexity of your setup and the authorities involved.
Do I need a business license to start a consulting company?
Yes, a business license is mandatory to legally operate a consulting company in the UAE.
What is the process for registering a consulting company?
The process involves selecting a business activity, choosing a structure, registering the company name, obtaining initial approvals, submitting documents, and securing a trade license.
Can I register a consulting company as a sole proprietorship?
Yes, you can register a consulting company as a sole proprietorship in the UAE, especially in Mainland and certain Free Zones.
What are the benefits of registering a consulting company?
Benefits include legal recognition, the ability to operate legally, access to business networks, the potential for business expansion, and eligibility for investor visas.
Disclaimer: The information provided in this blog is for general informational purposes only. For professional assistance and advice, please contact experts.
