The UAE’s consulting sector is big business, with the country growing 12% between 2016 and 2019. The consulting sector in the wider GCC region is now worth more than $3 billion. The need for IT consulting is always high, but other areas are just as interesting – these include risk management consulting, management consulting and strategic consulting. Dubai is one of the most popular tourist destinations in the Middle East. Many people wish to set up business in Dubai every year. People come here to work because the wages of emigrants are much higher and they are also tax-free. Compared to other countries in the Middle East where the laws are very conservative, Dubai is much more open. You can enjoy nightclubs and bars; you can also enjoy many indoor activities.
Living in Dubai is more expensive than in other Middle Eastern countries. In the cost of living index; Dubai ranks 89th in the list among other countries. Most companies that offer jobs to expats find corporate accommodation for their employees or, in most cases, expats receive housing allowances. Since the cost of living in Dubai is very high, one should get a job that offers a place to live for workers. Some companies don’t provide hoses, but you need to make sure that the salary is high enough to pay the rent for an apartment in Dubai. In Dubai, the best thing to do is rent a small apartment and make sure you don’t have any debt when you leave work.
Benefits of Starting a Consulting Business in Dubai, UAE
Here are some of the benefits which entrepreneurs can avail themselves:
- You can be flexible in your work: you can choose the hours you work, the clients you hire, the combination of face-to-face and online work you choose, and so on. In short, you can make your schedule work for you.
- You can diversify your work: You can work with many different clients, often with many different issues that make your professional life interesting.
- Growth opportunities: With Dubai’s dynamic business environment (currently especially at Expo2020), the need for consultants across multiple industries has never been greater.
- Start Small – or Big: Whether you’re starting a freelance or a business, you can start (and grow) at your own pace to the size that’s right for you.
Simple Steps for Starting a Consulting Business in Dubai
The next topic that needs to be discussed while obtaining a consulting license in Dubai is the actual application process. The first two issues to be addressed are as follows:
Make Decisions about Your Business
The business you choose must be following the business you will be in. So that everything here is clear and compatible, it is worth resorting to the services of specialists when setting up a company to avoid fines or even license revocation.
Choose a Company Name
The UAE is quite strict when it comes to naming companies, so knowing the rules is important. You should avoid any language that could be considered offensive or blasphemous. You should avoid names that already belong to well-known organizations. When naming your business after your name, be careful not to abbreviate your name. So Jonathan Smith Consulting is fine, but J. Smith Consulting is not. Of course, you should also make sure that the company name you choose is still available for registration. From there, you can follow these steps:
- Prepare your documents and make the payment
- Reserve your business name
- Receive approval
- Apply for your visa
- Receive visa
Keep in mind that in addition to the above, there may be industry-specific requirements that you must meet. In any case, a conversation with a founding expert will walk you through the exact requirements so that you not only find the company quickly but also remain fully compatible at all times.
Cost of Starting a Consulting Business in Dubai
The cost of starting a consulting firm depends on the size of your company, the specific business activity you wish to pursue, etc. But you see around AED 20,000 as the starting price. As always, contact a professional business consultancy firm for the latest pricing information and make sure you get a personalized price for your consulting business that truly meets your needs.
Documents Required for Setting up a Consulting Business in Dubai
Here is the list of documents that entrepreneurs require for setting up a consulting business in Dubai:
- Passport copy of the proposed owner or owners
- Completed application form
- 2 color passport size photos
Additional industry-specific documentation may be required and a business formation specialist can work with you to ensure that you have everything in place before submitting your application to avoid delays in processing. I am sure after reading this informative post, you get the required information you require for setting up a business in Dubai.