Management Consultancy in Dubai forms an integral part of the business ecosystem. They assist their clients in effectively leveraging their resource and achieve business goals.
8 Steps to obtain a Professional Trade license in the Mainland of Dubai
1. Select Business Activity
Choosing a business activity is a critical step in a business setup. There are more than 2,100 business activities across different groups such as industrial, commercial, professional and tourism activity.
2. Select Legal Form
Based on the selected business type, business activity, nationality of owners, and the ownership options you can choose the legal form.
Common Business Types in the Mainland of Dubai
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
3. Select a Trade Name for your Business
The general trade name guidelines must be followed while choosing a name for your business in Dubai. It requires payment for processing your application for the tradename. Once the trade name is selected, the application must be submitted to the Department of Economic Development (DED) for Approval.
4. Apply for Initial Approval
An initial certificate with a non-objection to start a business is obtained from the Dubai DED. With the initial approval, you can apply for the trade license. The initial approval records partners, legal type and activities of the license.
5. Prepare MOA & LSA Agreement
Based on the legal structure of your company, a Memorandum of Association (MOA) is to be prepared.
In certain cased the company has to sign a Local Service Agent (LSA)/ Corporate Agent agreement with a UAE national. The licensing and compliance will be looked after by the UAE national.
6. Establish a Business Location
All businesses in Dubai must have a physical address. The Ejari has to be registered using your initial approval certificate and other documents required by the Real Estate Regulatory Authority (RERA). It is then further forwarded to Dubai DED to proceed with the process of issuing the trade license.
7. Get Licensing Approvals
In the case of Management Consultancy, there are no additional licensing or approvals required other than the one issued by DED.
For certain business activities like healthcare, transportation, etc., requires special licenses.
8. Collect Business License
Once all the paperwork’s and required approval are completed, you will receive the company trade license all approved from DED. Now you are legally entitled to start doing business in UAE.
The next important step after obtaining the business trade license is applying for a bank account opening and Visa processing for a residency visa.
For setting up of Management Consultancy, the Freezones of Dubai is a prospective 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.