Dubai is a growing trade and commerce hub of the world. Many global businesses have made Dubai their headquarters to operate global business easily. Dubai is located strategically between the east and the west enabling easy coordination of global businesses. Management Consultancy License in Dubai is a popular business license category among investors.
It has immense growth potential as there are a host of multinational companies in Dubai that require a management consultant for business advisory and administrative work. Dubai has got a very competitive and innovative business landscape that is evolving continuously. A management Consultancy License is a requirement to provide expert management consultancy solutions to companies around the region.
Management Consultancy License in Dubai – Business Scope
Management Consultancy License in Dubai helps investors set up a Management Consultancy company. Investors can tap into the growing business segment in the region and offer their consultancy solutions to grow business.
Management consultancy in Dubai is a vital part of the growing business landscape in Dubai. Hence, it helps companies to leverage their resources to achieve their business goals.
Additionally, Large and small companies can transform their business operations with the help of management consultancies in Dubai.
Also, they will help in devising solutions to help businesses adapt to the latest technology and business trends.
Management Consultancy license in Dubai – Business Activities
Dubai is home to numerous businesses across a wide range of industry sectors. The scope of a management consultancy license in Dubai is huge and there are a few related business activities the investors can choose for the company.
Often, businesses in the region require an expert for advising marketing, business, and product strategy for improving the overall sales. Hence, having a management consultancy license in Dubai will help investors to support other businesses in various areas to grow their revenue.
Management Consultancy License in Dubai – Business Activities
License Name: Management Consultancy
Activity Code: 741 405
Business Activity Group: Consultancy – D- Management, information as well as Marketing.
License Type: Professional
Business Activity Description:
Management Consultancy license in Dubai allows for various activities mentioned below.
- Provide administrative consultancy
- Study organization performance and devise improvements
- Prepare a business plan for streamlining business operations
- Preparing internal policies and procedures for companies
- Restructure and develop a strategic plan for the organization
Management Consultancy License in UAE falls under the professional license category. Investors can get complete ownership of their business in the UAE.
It will also enable them to legally set up an office space, hire staff, apply for residence visas and conduct business in the region.
Steps to Obtain a Professional license in the Mainland of Dubai, UAE
1. Select Business Activity
Management Consultancy business license has many sub-activities and the investor must choose the right business activities based on the exact business requirement.
Management consulting is spread across areas of marketing, finance, business, administration, and more. Hence, selecting the right business activity is very much essential step for successful business operations.
Following is the list of Common Business Types in the Mainland of Dubai, UAE
1. Joint Liability Company
2. Sole Proprietorship Company
3. Limited Liability Company (LLC)
4. Public Joint Stock Company (PJSC)
5. Private Joint Stock Company (PrJSC)
6. Civil Company
7. Branch Offices
2. Choosing the Management Consultancy license in UAE
The investor must choose the Management Consultancy license in UAE and the right company structure. The company can be either a Civil Work Company or an LLC Company on the Mainland of Dubai.
Another choice is to open it as a Free Zone company or branch of a foreign company in the Free Zone or mainland.
3. Select a Trade Name for your Business
The investor must follow the general trade name guidelines for the business in Dubai. The name approval will have a fee that is to be paid by the investor to the Dubai Economy.
Submit the application for processing the Management Consultancy License in Dubai to the respective authorities. Obtain a no-objective certificate to start the business in the Dubai Mainland.
Make the Fee payment along with the documents for setting up the management consultancy company. The investor passport copy, photograph, and entry stamp are the requirements.
4. Prepare MOA & LSA Agreement
The Management Consultancy Company must prepare the Memorandum of Association (MOA) with Dubai Economy. AURION will guide you through the document preparation and Submission for approvals from the Government Authorities.
For Management Consultancy in Dubai, there is no requirement of a local Service Agent as per the amended Commercial Companies Law.
Hence, it is 100% ownership of the investor. Previously, the local service agents were the liaisons between Dubai Economy and the company for administration and visa-related works.
The individual investor had to sign a Local Service Agent (LSA)/ Corporate Agent agreement with a UAE national before which is no more a mandatory requirement. The licensing, compliance & Visa related activities were previously taken care of by the local Service Agent.
Now the entire process is completed within the DED instantly with the assistance of an expert business consultant. There was a yearly fee for the Local Service Agent to conduct the required activities which no longer exists.
5. Establish a Business Location
It is best advisable for Management Consultancy companies to take office space, Having a physical address will help engage with more clients and gain credibility in the business operations.
The Management Consultancy company must obtain the tenancy contract (Ejari) for the new office space from the Real Estate Regulatory Authority (RERA). Depending on the business requirement the company can take an office space in any commercial complex in Dubai.
Aurion’s team of Business Consultants will offer you a wide range of office space facilities that will be the right fit for your company in mainland of Dubai. Connect with us today itself!
6. Get Licensing Approvals
For obtaining a Management Consultancy License in Dubai there is no requirement of any special approvals from Government offices. The Trade license for Management Consultancy Services is from the DED, Dubai.
Certain special business activities such as healthcare, transportation, finance, etc., require approvals from the Government authorities. To open office space and start operating a business there is a clearance to be obtained from the Dubai Economy and other Government Departments.
7. Collect Business License
Obtain the business license after all clearances are in place. The DED will issue the Trade License for the company. Now the Management Consulting company is ready to operate in UAE and global markets.
Finally, after obtaining the Management Consultancy License, the investor can apply for a bank account opening and Visa processing for a residency visa.
For setting up Management Consultancy, the Freezones of Dubai is an alternate option as it offers a host of benefits to the investors. Especially if you are looking for a 100% foreign investment, a tax-free environment, quick registration, etc., the Free zones are the best choice.