How to Setup a Management Consultancy License in Dubai?
Entrepreneurs or individuals, who are aiming at forming a management consultancy License in Dubai, need to get a management consulting license, which falls under the broader license type of professional license. Our Business Setup Services with Clients in incorporating Company and continuously supporting to enhance the standard and productivity at international standards. As an advisory firm with varied capabilities, Our Business Consultants carry rich experience in advising a gamut of overseas investors to line up businesses within the UAE.
In the ever-changing corporate landscape, the management consultancy firms have become an unavoidable force as they help business leaders in Dubai tackle the competition by developing digital solutions, employee experiences, and financial strategies. Management Consultancy firms play a pivotal role in solving issues faced by entrepreneurs with their expertise in market trends and technological disruptions thereby transforming the business entities.
The process of getting a business license within the UAE involves getting approvals from the govt and therefore the economic department. You also got to get all of your company formation documents cleared from different UAE agencies within a brief period of time. For first-time investors, this process can be confusing and expensive.
The Management consultancy business in Dubai is the most general sort of business in the UAE. Management consultancy business in Dubai opens the whole Dubai market and establishes an area presence that allows access to a much bigger market. The process of Management consultancy license in Dubai isn’t nearly as chilling because it may initially appear. There are many business consultants in Dubai who can formulate to try to most of the footwork for the Management consultancy business.
These establishments cooperate with the local authorities to get statistics of mandatory official papers and to make sure the Management consultancy business formation in Dubai moves forward in a speedy and actual way. There are some restrictions and ownership requirements don’t affect business operations. The list of compulsory documents for fixing a Management consultancy business in Dubai is definitely managed, particularly once you are becoming support by the resident Business consultants.
Detail of Management Consultancy License in Dubai
BCM Corporate Services Assist management consultancy license in Dubai is to help the management teams of the other organization to create such high levels of economic value for them and provisioning answers to the organizations. Most importantly, business set up in Dubai is gratifying and management consultancy business is booming to provide solutions to all the emerging companies in the UAE.
License Name: Management Consultancy
License Activity Code: 741405
License Activity Group: Consultancy -D- management, information also as a marketing
License Type: Professional
Activity description: Role of Management Consultants in Dubai a Company’s Growth
Entrepreneurs typically seek the help of Management Consultancy License in Dubai when they hit a roadblock while dealing with issues that might hamper business growth. The core responsibilities of management consultants in Dubai are:
- Evaluation of a company’s current state
- solving organizational problems
- project planning,
- maximizing business growth,
- improving operational performance
- strategy consulting
- consulting in business structure
- advises on registration and filing of paper
- Helps companies tackle issues of Residency
- Guides business owners on tax, and audits
The management consultancy firms in Dubai are equipped with robust management skills and sound knowledge of the local business environment. With these skills, they advise the companies on growth prospects and give recommendations on improving the organizations by implementing the solutions. Management Consulting firms often act as the bridge between the business owners and the local authorities in Dubai and in this way they could be considered as the face of the companies before the authorities.
Business Activities Under Management Consultancy License in Dubai
The Department of Economic Development (DED) under the Dubai Economy issues a variety of licenses to set up businesses in Dubai. For setting up a management consultancy business in Dubai, the professional license requirements while applying for Management Consultancy License in Dubai the company incorporation.
The license name is listed as Management Consultancy under the BCM Corporate Services the license code 741405. The license activity group has been listed as Consultancy management, information, and marketing. The management consultancy license in Dubai permits subsequent business activities:
- providing administrative consultancies and studies to companies
- analyzing existing problems within the organizations
- developing plans for improvement of business setups
- procedural engineering
- laying out flow-charts and related documents circulation
- internal policy formulation for companies
- organizational restructuring of firms
- strategic plans development for the organization
- innovating work procedures of companies
- designing balanced scorecards for businesses
However, it is also important to note that the DED doesn’t allow management consultancy firms to conduct field surveys and questionnaires before getting approval Management Consultancy License in Dubai from the competent authority.
8 Steps to get knowledgeable Trade license within the Mainland of Dubai
- Select Business Activity
Choosing a commercial activity may be a critical step during a business setup. There are quite 2,100 business activities across different groups like industrial, commercial, professional, and tourism activity.
- Select Legal Form
Based on the chosen business type, commercial activity, nationality of householders, and therefore the ownership options you’ll choose the legal form.
Common Business Types in the Mainland of Dubai
- Joint Liability Company
- Sole Proprietorship Company
- Limited Liability Company (LLC)
- Public Joint Stock Company (PJSC)
- Private Joint Stock Company (PrJSC)
- Civil Company
- Branch Offices
- Select a Trade Name for your Business
The general brand name guidelines must be followed while choosing a reputation for your business in Dubai. It requires payment for processing your application for the trade name. Management Consultancy License in Dubai Once the brand name is chosen, the appliance must be submitted to the Department of Economic Development (DED) for Approval.
- Apply for Initial Approval
An initial certificate with a non-objection to start out a business is obtained from the Dubai DED. With the initial approval, Management Consultancy License in Dubai you’ll apply for the trade license. The initial approval should records partners, legal types, and activities of the license.
- Prepare MOA & LSA Agreement
Based on the legal structure of your company, a Memorandum of Association (MOA) is to be prepared by Bcm Corporate In certain cases, the corporate has got to sign an area Service Agent (LSA)/ Corporate Agent agreement with a UAE national. Management Consultancy License in Dubai The licensing and compliance are going to be taken care of by the UAE national.
- Establish a Business Location
All businesses Setup in Dubai must have a physical address. The Ejari has got to be registered using your initial approval certificate and other documents required by the important Estate regulatory agency (RERA). It is then further forwarded to Dubai DED to proceed with the method of issuing the trade license.
- 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 for business
- Collect Business License
Once all the paperwork 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.
AUD Exam should Qualify as a Director in Management Consultancy Firms in Dubai
The minimum degree required as per the DED for a business owner for setting up a management consultancy firm in Dubai is Bsc in Business or Economics, along with three years of hands-on experience.
It is also mandatory for the business owner or a director of a proposed management consultancy company to clear the Management Skills Placement Test conducted by the American University of Dubai (AUD). The exam takes place at the AUD location and is conducted by the Centre for Executive Programs and Professional Services department.
Designed as a 2-hour test, the AUD exam requires companies to present their trade name during the registration process. The result of the AUD exam is declared on the same day from AUD. In case the candidate fails then he/she needs to take admission for a course which is conducted by AUD, before the next attempt, and then re-apply for the exam.
A business owner or director must join the AUD program for qualifying directors in the Management Consultancy Company. For the foreign companies interested in the consultations activity, the director must join the AUD program for qualifying directors in the consultancy domain.
Broad classification of the Licenses available in Dubai
Selecting a business license is critical. It will help you determine the options regarding the legal form of the company Management Consultancy License in Dubai and the parties associated with the business entity.
Business Licenses in Dubai are broadly categorized into:
- Commercial (Trading) License
- Professional (Vocational) License
- Industrial License
Legal Structure of a Management Consulting Firm in Dubai
Unlike LLC in Dubai, UAE, in which UAE National is 51% holds shares and foreign partner holds only 49% shares, DED allows 100% ownership to foreign nationals for professional licenses including management consultancy activity. However UAE national remains mandatory Management Consultancy License in Dubai but rather than his stake within the capital,
He is going to be appointed as a legal service agent (popularly known in Arabic Wakil-e-Khidmaat). And the Legal service agreement (LSA) with UAE national will be notarized at the Notary office in Dubai. In the case of more than one foreign partner,Management Consultancy License in Dubai the company will be called Civil Company and Memorandum of Association (MoA) between foreign partners will be prepared.
Procedure to get a Management Consultancy License in Dubai
- Select Business Activity
- Select Legal Form
- Select the final trade name of the business
- Apply for the Initial Approval
- Prepare MOA & LSA Agreement
- Establish a Business Location
- Get Final Approval
- Collect Business license
Management Consultancy License falls into the category of Professional License by DED. For step by step process of obtaining a Professional license in Dubai. Read this (this will be a link for another blog article and we will write the content Management Consultancy License in Dubai for step by step process and add the link here)
Contact us for Management Consultancy License Dubai
We at BCM Corporate services LLC, extend our quality services to our client with well experienced & qualified Business consultant with rich expertise in document attestation Services in Dubai so that client’s requirements of Business setup in Dubai. can be completed on time with satisfactory Results outcome. Please feel free to reach us for your Business setup and Management Consultancy License Dubai requirements on our email id: firstname.lastname@example.org or call us on +971502585921