FAQ: What are the requirements for setting up a consultancy business in Dubai?

 Setting up a consultancy business in Dubai is a popular choice due to the emirate's strategic location and business-friendly environment. Here are the essential steps and requirements:

1. Choose the Right Jurisdiction

  • Mainland or Free Zone: Decide whether to establish your consultancy in the mainland or a free zone. Mainland companies can operate anywhere in the UAE and beyond but require a local sponsor who owns 51% of the business, although professional services, including consultancy, can often be 100% foreign-owned with a local service agent. Free zones offer 100% foreign ownership, tax exemptions, and customs duty benefits.

2. Obtain the Necessary License

  • Professional License: For consultancy services, you'll need a professional license from the Department of Economic Development (DED) if setting up in the mainland, or from the respective free zone authority. This license covers a wide range of consultancy sectors like management, IT, marketing, or finance.

3. Legal Form and Trade Name Registration

  • Legal Form: Choose a legal form for your business that suits your structure and business needs, such as a sole proprietorship or a limited liability company.
  • Trade Name: Register a trade name that complies with DED or free zone guidelines. The name should not violate public morals or the public order of the country.

4. Office Space

  • Physical Office: Both mainland and free zone authorities usually require you to have a physical office space to issue the business license. In free zones, you can often choose from flexible desk solutions if a full-fledged office is not needed initially.

5. Approvals and Registrations

  • External Approvals: Some types of consultancy may require additional approvals from relevant government bodies, depending on the nature of the consultancy.
  • Membership in Professional Bodies: Depending on your consultancy field, membership in professional bodies or associations might be necessary.

6. Visa and Staffing

  • Visas for Employees: You can sponsor visas for your employees, with the number of visas depending on the size of the office and the type of business setup.
  • Labour Contracts: Register your employees with the Ministry of Human Resources and Emiratisation (MOHRE) and comply with UAE labor laws.

7. Bank Account Opening

  • Corporate Bank Account: Open a corporate bank account by providing the necessary documentation, which typically includes the business license, shareholders' passports, and company incorporation documents.

Conclusion

Setting up a consultancy business in Dubai involves navigating various legal and administrative steps. It is advisable to consult with lawyers in Dubai or a business setup consultant to ensure all requirements are met and to streamline the process, allowing you to focus on growing your consultancy business effectively

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