Setting up a business consultancy can be highly rewarding, especially for entrepreneurs who want to focus on a dynamic career path in consulting services. It allows them to leverage their expertise and experience in specific business activities that can provide valuable guidance and solutions to other businesses that are facing challenges and require professional support.
Establishing this type of business in the UAE is a strategic decision with numerous benefits. As a developed economy, it is an ideal destination for entrepreneurs looking to set up a consulting business. The UAE is a multifaceted economy that encompasses a wide range of industries, providing abundant prospects to cater to diverse businesses and clients.
Starting a business consultancy in the UAE usually involves navigating the regulatory landscape, complex license requirements, and careful compliance measures. This can be overcome by obtaining your license with SPC FZ, which allows up to three types of business activities under a single license and is seamless and efficient.
Here, you will find detailed information about the five business activities that you can select under your license when you choose to set up your business consultancy business in the UAE with SPC FZ.
7020.11: Strategy advisory services
This activity covers strategy advisory services that support businesses and clients in navigating complex management challenges and achieving their objectives. These services are primarily tailored to the nature of the requirements of the business by providing guidance and operational assistance across key areas such as strategic planning, organizational development, managing decisions in finance, marketing strategies, and human resource management.
These services are designed to offer strategic insights and practical solutions that aim to empower clients in their decision-making process. Moreover, it extends beyond conventional management consulting because of its specialized approach, which can include areas such as lobbying activities, designing formulated methods of accounting, cost accounting programs, and budgetary control procedures. This breadth of expertise enables holistic solutions, whether clients and businesses that require this type of service operate in the private or public sector.
7020.01: Marketing, public relations, and communication consultancy
This type of activity covers services in marketing, public relations, and communication. A business consultancy specializing in this activity focuses on helping businesses and organizations by addressing issues related to marketing objectives, policies, and communication strategies. Experts in this field have comprehensive knowledge and strategic insights, ability to implement practical solutions that can help clients enhance their brand presence, engage with their target audience effectively, and achieve their marketing goals.
Consultants that provide this type of service assist clients in developing strategic communication strategies, managing media relations, crisis management, and fostering positive relationships with stakeholders to enhance their brand reputation in the public eye.
7020.04: Advice and help to businesses and public services in planning, organization, efficiency, and control
This category covers activities that offer guidance and assistance in the areas of strategic planning, coordination, maximizing efficiency, and oversight in general. Business consultants in this field specialize in providing advice and operational support to businesses and public services. They focus on addressing critical management issues and enabling sustainable growth.
The main goal of this type of business is to provide pragmatic solutions that boost operational efficiency, simplify procedures, and enhance performance across diverse business operations. This activity’s license covers the development and execution of productive organizational structures, the allocation of resources, and control over the planning of numerous procedures that can guarantee excellent outcomes.
7020.00 Management consultancy activities
This category covers management consultancy activities which includes of a range of services with the objective of equipping organizations and clients with expert advice, and operational support across various parameters in the space of management. When it comes to strategic planning, consultants are there to help clients set attainable goals and devise effective methods to reach them.
Additionally, these experts provide valuable perspectives on financial decision-making focusing on cost-effective strategies, budget planning and optimising revenues. Other key factors in management consultancy include creating marketing policies and objectives that can bolster their competitive edge and efficiently engage their intended demographics. They also offer support in the realm of human resource policies, and best practices to recruit, retain, and cultivate personnel.
In general, the activities of management consulting are of the utmost importance in assisting businesses to overcome complex business hurdles and challenges, increase efficiency, streamline operations and achieve sustainable growth.
7020.43 Business Incubator
This category covers the activity of a business incubator. They play a crucial role especially with early-stage startups and new entrepreneurs because they advise and help structure the foundation of the business. The objective is to create a stable ecosystem for entrepreneurs to gain access to important resources that help their business thrive and sustainably grow. This can include business mentorship and participating in events to network with the right kind of people. There are a wide range of services that cultivate the necessary elements needed for startups and new businesses to grow, they involve strategic planning and control, navigating through financial management, formulating human resource policies and various marketing strategies.
A business incubator is a very important asset because it is designed to be a safe and controlled environment overlooked by seasoned professionals. They guide these startups and new businesses by providing specific mentorship to overcome hurdles, plan long-term and gain a competitive flare in the market
The following activities are excluded from all the business activities mentioned above:
● Developing software applications for accounting systems
● Offering legal counsel and advocacy
● Performing tax consulting, auditing, accounting, or recordkeeping
● Providing advisory services in structural design, engineering, or other technical fields
● Implementing promotional initiatives
● Conducted market research or surveys of public opinion
● Offering recruitment or executive placement consulting services
● Providing counseling services associated with education
Third-party Approval: No third-party approval is required for this business activities
Filing of Economic Substance Return: Business activities 7020.11, 7020.01, 7020.04, 7020.00, 7020.43 is exempt from this requirement.
Anti-Money Laundering Compliance: Business activities 7020.11, 7020.01, 7020.04, 7020.00, 7020.43 is exempt from this requirement.
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