How To Get A Management Consultancy Licence In Dubai

Because of its resilient economy and gigantic mature public and private sectors the United Arab Emirates is a good place to establish the consultants business. Therefore, if you have prior experience in management consulting licence and understand every niche in your line of business very well, starting a consulting business in Dubai could be very rewarding.

As is also observed in other GCC states, the UAE’s public sector is the most significant buyer of consulting services, and total turnover for the consulting industry of the country grew to $1. 2 billion in 2019. According to surveys, general management consulting remains the leading business line that is offered mainly by small and medium consulting companies; the second most provided service is data and technology consulting, accounting tax and audit advisory, marketing and media consulting, and people consulting. The management consultancies in Dubai assist customers in creating efficient, organized, and productive business entities.

How To Open A Management Consultancy in Dubai

Current Trends of Management Consultancy Work in Dubai

It has to be mentioned that the management consultancy industry in Dubai is constantly developing. The growth rate of the industry as we perceive it is pretty high and is estimated to be approximately 16%. 6% for the previous year, as the country tries to stand up from the blows of the pandemic more efficiently. This spike concerns management consulting and also captures the UAE’s agenda to move its economy away from oil exports.

A large number of consulting firms are reporting a surge in their services particularly in service of government departments. Indeed, the public sector of the UAE is by far one of the biggest consumers of consultancies. This has in turn placed confidence in the country’s consulting industry’s consultancy turnover of $1. 2 billion in 2019.

The actual market of management consulting in the United Arab Emirates, being the second member of the GCC after KSA, has increased its annual revenues up to $3. 3 billion in 2021. These growths are not only in the commonly known fields but also in new fields like cyber security. Cybersecurity was able to generate over $303m in 2021; which is 28% higher than the previous year. Furthermore, strategy consultancy has seen a considerable increase throughout the GCC. Revenues increased by more than 24% to $838 million in 2021. Reflecting the healthy market, the majority of GCC client organizations plan to increase their spending on management consulting services and support.

Important Licensing Competent Authority

Thus, to legally start a management consultancy in Dubai, you will require a management consultancy licence. Management Consultancy licence is not just being given on paper, it permits the provision of consultancy services. These services vary from telling an organization about the operational policies or recommending the structural changes that the firm needs.

The licence is also admitted as a mandatory requirement when it comes to the opening of a business office. If needed for a work visa, for registering a company and hiring employees, for a company’s local bank account.

Selection of activities from actually more than 2000 that can be established in any Free Zone or mainland. ‘Consultancy’ is the most relevant top management consulting and marketing service provider group. Geographically, Free Zone is located close to the actual center of Dubai, to the airport, and to such attractions as an international race course and a golf course, which may also create quite a good demand for a consultancy there.

Management Consultancy Licences and Their Classifications

The following is a list of management consultancy licence available in Dubai and it shows that the services offered by the management consultancy firm fall under a wide category. Consultants are involved in Business Process Innovation, market evaluation, Planning and Development, Human Capital Management, and Service Delivery.

• Other advantages include; Owning 100% of the business, 0% loss of profit to the government, and importing special goods and services with ease. There is a full transfer of capital and profit and no taxes both on income and the firm’s earnings. The process of acquiring a base licence for management consultancy in the any Free Zone is very economical and less Jarvis costing around $3,400 (AED 12,500) and above.

• Considering this, the required paperwork for a licence is extremely lenient. It mostly consists of a must be a clear copy of the passport, passport size photograph, copy of residence visa if any, and EMIRATES ID if any. The Free Zone’s customer portal related to company registration and payment of fees and other charges is smooth and seamless.
  
• Once the licence is received, consultants can open a corporate bank account to handle client payments. They can also profit from the Free Zone’s strong infrastructure.

• The issuance of company documentation can be done within one day. A quick IBAN for banking transactions is provided, and a variety of office facilities are open around the clock. Furthermore, the Free Zone provides distinct community perks and discounts, increasing the appeal of establishing a consultancy in this thriving commercial area.

List of Documents for Management Consultancy Licence in Dubai

• Most importantly for a management consultancy licence, great preparation of the documentation is crucial. The requirements are fairly compatible Regardless of whether the investor is applying through a Free Zone or directly to DED. However, there might be slight differences depending on the authority and the particular management consultancy licence services you want to carry out.

• Thus, for those choosing the Free Zone option, the first measures include providing a digital photo of the person, similar to a passport-size photo, as well as a photocopy of the passport. UAE residents are also required to attach their residence visa and ID card Emirates to identification and prove that they are legally allowed to stay in the country.

• The Free Zone’s support can be very helpful in gathering essential documents as well as in making sure the licence application meets all the requirements and is filled out properly.

• For identification of the principles of the company, the original passport and visa and 2 color photographs of each person of the company and in the case of shareholders and business majors their passport and visa copies are required along with 2 color photographs.

• Some consultancies might need more clearances from other government ministries depending on the consultancy work to be done to conform to the countries’ regulations and labor demands of the consultancy firms in the specific functional industries.

• Any person who is still in employment and willing to start a consultancy business must provide an NOC from their visa sponsor. It also annexes your sponsor’s permission for entrepreneurial activities within the UAE, which mitigates any conflicting issues with your work and residence permit.

• Review with the Free Zone or DED for the most up-to-date guidelines, and any additional documents that may be required to ensure a seamless licensing procedure.

Choose Us to Get Your Management Consultancy Licence in Dubai

Thus, when one possesses a management consultancy licence in Dubai, he may directly liaise with the client’s management. Consequently, assesses the client’s goals, abilities, and resources, the benefits and drawbacks, justifies worldwide and economical conditions, an industry standpoint, applied technology advancements, a regulation climate, and proposes competitive strategies to the client.

We at BizDaddy are here to tell you about our experience learned from the years of consultancy solutions. You can reach us for any questions or assistance in doing business in Dubai including management consultancy business.