Consultancy License UAE: Costs & Requirements
As more entrepreneurs and companies look to the UAE to start and scale their businesses, they require specialized services to support development and growth. Demand for consultants is rocketing and the region is ripe with opportunities for a range of experts, from HR and resourcing consultancies to business strategy consultants.
Before you open a consultancy business in the Dubai, UAE, you will need to ensure that you have the right license. While obtaining a consultancy license is a relatively straightforward process, you’ll need to jump through a few hoops first.
In this article, we will answer your most pressing questions, including ‘how do I open a consultancy company in the UAE’. We will explore everything you need to know, including the price, the benefits and the application process for a consultancy license UAE. We will cover the following topics:
- Steps to obtain consultancy license UAE
- Consultancy licenses UAE cost
- Types of consultancy licenses in the UAE
- Advantages of starting a consultancy in the UAE
- Why chose SPC for consultancy license UAE?
Related article: How to start a legal consultancy in Dubai, UAE
Steps to obtain a consultancy license in the UAE
The steps to get a consultancy license in the UAE are:
Step 1: Submit your documents
If approved, you will receive your consultancy license UAE in under two hours.
Step 2: Apply for e-channel applications
Once registered, you can apply for your entry permit, which is valid for up to 60 days.
Step 3: Status change confirmation
After receiving your entry permit, you can activate your status change.
Step 4: Undergo your medical test and apply for Emirates ID
With your Emirates ID card, you can open a bank account, rent a property and take out contracts.
Step 5: Residence visa approved
SPC Free Zone’s business setup advisors will guide you through the process, every step of the way.
Cost of consultancy licenses UAE
The cost of a consultancy license in the UAE is AED 6500. This includes both co-working spaces and the lease agreement.
However, there are additional costs to consider when applying for your consultancy license UAE too. For an accurate and personalized quote tailored to your business requirements, get in touch with our friendly business advisors at SPC Free Zone.
Types of consultancy licenses in the UAE
When it comes to applying for your consultancy license UAE, you need to ensure you’re applying for the right one. There are many different types of consultancy licenses in the UAE and these depend on the nature of the business activity. There is a wide range of business activities to choose from including:
- Accounting, Tax and VAT
- Business Setup
- Finance and Investment
- HR Services
- IT consulting
- Logistics and Shipping
- Market Research
- Operations Management
- Project Management
- Risk Management and Compliance
- Sales and Marketing
There are no specific qualifications required to apply for a consultancy license, though you will need to have experience and knowledge of the relevant industry. Some business activities may have specific requirements, such as an MBA, but this is only rarely required, depending on the type of consultancy you choose to build.
Advantages of starting a consultancy in the UAE
The UAE offers a wide range of benefits for consultancies, such as:
Fast business setup
You can obtain your consultancy license UAE in less than two hours.
The UAE offers a wide range of financial incentives, including 100% foreign ownership, 100% profit repatriation, rich networking opportunities, and no share capital requirements.
Opening a consultancy in the UAE allows you to manage your own time and clients, with access to customers across the world.
Range of services
You can specialize in a wide variety of industries, from education and engineering to tourism and transportation.
You can set it up with minimal capital, without compromising on service
Businesses at the incubation stage are more likely to outsource their strategy and resource management needs – and as a locally-based consultant, you’ll be best placed to capture these opportunities.
How to grow your consultancy business
Most companies rely on consultancies to help them solve issues as they expand, which means consultants are highly sought after. But as more consultants appear on the market, how do you stand out from the crowd and grow your business?
Reputation and relationships are key. Generating profit is important, but in the beginning, it’s essential to build up good client testimonials. Word of mouth is one of the most powerful ways to secure and maintain a client. To do this, you’ll need to be good at maintaining relationships with your clients. You should also have a good idea of what your competitors are doing and an excellent understanding of how to make your offer better.
Benefits of being a consultant
Becoming a consultant can open up a whole host of opportunities. Some of these are well-documented, such as good pay and travel perks, but others are often overlooked.
For instance, as a consultant you’ll be able to tap into a larger pool of job opportunities. A cursory search on the internet will back this up – the current global estimated value of the industry now stands at around $250 billion. Networking is practically part of the job description, and you’ll get the opportunity to interact with a wide variety of contacts that may prove useful in the future too.
This style of working can be exciting also, as it offers greater diversity than most jobs. Being a consultant means taking on different projects that can broaden your expertise significantly. Every job looks different, which means even in speciality areas of focus you’re likely to engage with broader functions of the company, such as finance and human resources. It means you can rapidly try out new industries, areas and geographies to discover what you like best.
Working as a consultant can also help you refine your skills and learn new ones at the same time. As a consultant, training needs to happen at speed, so you’ll quickly become an expert. Projects tend to be fast paced and require more interaction with your teams. This inevitably means that you can learn faster, stay ahead of trends and will be able to capitalize on more growth opportunities. This can boost your CV, thus making you more employable too.
Why choose SPC Free Zone?
SPC Free Zone offers fast and flexible business setup in the UAE. Our expert advisors will guide you through each step of your consultancy license UAE application to ensure that the process is as quick and seamless as possible. Conveniently located in the heart of Sharjah with immigration services onsite, you can receive your consultancy license in under two hours.
We offer over 1,500 business activities and up to 20 visas under one consultancy trading license. Our clients also enjoy competitive benefits such as 100% foreign ownership with zero paid-up capital and a dual-license option that offers both mainland and free zone on the same license.
Ready to expand your business and start reaping the rewards the UAE offers? Get in touch with our advisors to find out more about how SPC Free Zone can help.
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