Setting up a business, no matter which industry it is, is too convenient nowadays. From purchasing an office area to registering your business, all can be performed in a glance. In fact, the banks under the Central Bank of UAE also lend helping hands for the foreign marketers. Well, we get back to this later on.
Are you planning to setting up a management consultancy firm in the place like Dubai? Well, trust us, you will not encounter a single issue in adding wings to your dream. It doesn’t matter whether it is a new start-up or an existing firm willing to extend its business in Dubai, if you know how to open a management consultancy firm in Dubai, you are the king.
Here are the few steps abiding by which you can reach your goals. Mark them down instead of looking for any other option.
- Have you decided the trading entity type? When you are in Dubai, deciding your business entity should be your first step. Dubai list of entities include three parties – branch of your company, free zone set up with single shareholder, and free zone venture with multiple shareholders. State your business entity and move ahead for business set up.
- Have you decided the name of your trade? First of all, you must decide whether you are going to run your business separately or work within a business. If you choose the first option, you have to name your venture before taking any further step.
- Is the name confirmed? Well, then you are good to go for business registration. For business registration you need a trade license. In Dubai, if you are heading to set up a business in the free trading zone you will be witnessing plenty of licensing options. For example, industrial license, commercial license, manufacturing license, general trading license, and warehousing license. Get a professional Service License and go ahead with the registration.
- Once you attain your Professional Service License you get the freedom to enjoy 100% foreign ownership to your free trade zone.
- Done with everything? Just wait for the approval! If it’s a yes from the other end, you are ready to carry on with your consultancy in Dubai. Usually, the process of registration and approval takes 2-4 weeks. Just keep patience and set up a bank account for further process.
So, have you got your license for your business? If yes, it’s time to fund your venture. Just open a bank account in any bank of UAE and enjoy the luxury they provide.
As per the new issuance of Dormant Accounts Regulation presented by the Central Bank of UAE, the consumers can feel themselves safe by depositing funds into their account. This regulation tries to offer the best financial services to the entire community, assuring safeguarded dormant accounts. So, it will be no wrong if you choose any UAE banks to fund your business.
So, are you ready to set up a consultancy firm in the UAE? Trust us, setting up a consultancy in Dubai lands is not as tough as it seems to. Rather you will be blessed with plenty of leverages that you can hardly think of when you are residing in other countries.
Hence, if you are interested in extending your venture in Dubai and really want to leap your business with foreign resources, UAE welcomes you with warm arms. If yes, take a pen and paper and jot down the above-mentioned points. If you gain sufficient knowledge regarding how to open a consultancy firm in Dubai, you can build any business in this foreign landscape.