How to Start a Financial Consulting Company in Dubai

Dubai is now one of the top financial hubs in the world. According to the Global Financial Centres Index (2025), it’s now the only city in the Middle East, Africa, and South Asia ranked as a global leader in finance. It’s especially strong in areas like fintech, investment management, professional services, and business infrastructure. With over 6,900 financial and advisory companies already operating in Dubai’s DIFC (Dubai International Financial Centre) and a growing number of global hedge funds and asset managers joining in, the city is buzzing with financial activity.

There’s also a rising demand for financial consulting and advisory services in Dubai. More individuals, investors, and businesses are looking for expert help to manage their money, grow their investments, and plan. In fact, assets under management in DIFC jumped from around $444 billion to over $700 billion in just a year.

So, if you’ve been thinking about starting your own financial consulting company in Dubai, now is the perfect time.

What is a Financial Consulting Company?

A financial consulting company helps individuals, businesses, and organizations make smart and informed financial decisions. These companies provide expert advice and customized solutions to improve financial health, reduce risks, manage wealth, and plan for the future.

Types of Services Offered

Some of the most common services provided by financial consulting companies include:

• Financial Planning: Helping clients set financial goals and create a roadmap to achieve them.
• Investment Advisory: Recommending smart investment strategies for individuals or companies.
• Risk Management: Identifying potential financial risks and advising on how to minimize them
• Budgeting and Forecasting: Creating practical budgets and financial forecasts.
• Corporate Finance Advisory: Supporting businesses with mergers, acquisitions, fundraising, and restructuring.
• Wealth Management: Tailored strategies to grow and protect wealth.
• Tax Planning: Structuring finances to be tax-efficient while staying compliant.
• Retirement and Estate Planning: Planning for long-term financial security.

What are the Legal Structure Options for Financial Advisor Company in Dubai?

Before starting your financial consulting company in Dubai, one of the most important decisions you’ll make is choosing the right legal structure and location for your business. 

1. Mainland (DED)

A mainland company is licensed by the Department of Economic Development (DED) in Dubai. It allows you to conduct business across the entire UAE, including with government entities, and gives you the freedom to set up offices anywhere on the mainland. For professional services like financial consulting, recent changes in UAE law allow for 100% foreign ownership.

2. Free Zone

Free zones are specialized economic areas that offer their own licenses and regulations. They provide significant benefits, such as 100% foreign ownership, full profit repatriation, and exemptions from corporate and personal income taxes. To conduct business on the mainland, they typically need to partner with a local distributor or agent. 

Some of the most popular free zones include: 

• DIFC (Dubai International Financial Centre)
• DMCC (Dubai Multi Commodities Centre)
• IFZA, Meydan, Shams (More cost-effective options for startups)

What License is Required for Financial Consulting Company in Dubai?

For a financial consulting firm in Dubai, you’ll need a Professional License. This license allows you to offer specialized services based on your skills and expertise. It also gives you 100% ownership in many jurisdictions, especially in free zones.

The license is issued by different authorities depending on where you set up your company:

• Mainland (DED): For a mainland company, the license is issued by the Dubai Department of Economic Development (DED). This license allows you to operate throughout the UAE.

• Free Zones (DIFC, IFZA, DMCC, etc.): In free zones, the license is issued by the respective free zone authority. For example, the Dubai International Financial Centre (DIFC) is a highly regulated financial free zone. The ultimate authority for financial services is the Dubai Financial Services Authority (DFSA). The DFSA grants licenses and supervises all financial activities within the DIFC.

Depending on the nature of your financial consulting services and your chosen jurisdiction, you may need additional approvals. For instance, if your services cross into areas like brokerage, lending, or insurance advisory, you may require approval from the Central Bank of the UAE or other relevant financial authorities. 

What Documents are Required to Start a Financial Consulting Company in Dubai?

Starting a financial advisory company in Dubai involves a bit of paperwork, but don’t worry, the process is quite straightforward if you have the right documents ready. Here’s what you typically need:

• Passport copies of all shareholders and managers
• Visa or entry stamp copy (for foreign shareholders currently in the UAE)
• Passport-size photographs
• Emirates ID copy (if applicable)
• NOC (No Objection Certificate), if applicable
• Initial approval certificate (applied for during the setup process)
• Trade name reservation certificate
• Office lease agreement or Ejari (required especially for mainland setups)
• Third-party approvals (e.g., DFSA for regulated financial services in DIFC)

If you’re unsure which documents apply to your business, a consultant like Shuraa Business Setup can help streamline the process.

How to Start a Financial Consulting Company in Dubai?

Starting a financial consulting company in Dubai is easier than you might think, just follow these simple steps:

Step 1. Decide Your Business Activity and Services

Clearly define the scope of your financial consulting services, whether it’s budgeting, investment advice, risk management, or corporate finance advisory. This will determine the exact business activity to be listed on your license.

Step 2. Choose Your Jurisdiction (Mainland or Free Zone)

This is a critical decision that will impact your business operations and market access.

• Mainland: Choose mainland if you want to operate across the entire UAE and engage with government entities. This is a good choice for firms with a broad client base.

• Free Zone: Choose a free zone like the Dubai International Financial Centre (DIFC) for a more specialized, highly regulated environment with benefits like 100% foreign ownership and tax exemptions. The Dubai Multi Commodities Centre (DMCC) is another popular option for non-regulated consulting.

3. Reserve a Trade Name

Choose a unique and memorable name for your company that adheres to UAE naming conventions. Submit your chosen name to the relevant authority (DED for mainland, or the free zone authority) for approval and reservation.

4. Prepare the Required Documents

Gather and submit all necessary documents (passport copies, business plan, visa copies, NOC, etc.). Some jurisdictions may request a detailed business plan, especially for financial services.

Note: If you’re setting up in DIFC and offering regulated services, you must also apply for DFSA approval at this stage.

5. Lease Office Space (If required)

Secure a physical office space or a flexi-desk, depending on the requirements of your chosen jurisdiction. Mainland companies typically require an Ejari (tenancy contract).

6. Apply for the Business License

Submit the complete application package to the relevant authority. Pay the required license and registration fees. After payment, your professional license will be issued.

7. Apply for Visas and Establishment Card

Once the business license is issued, apply for an Establishment Card (or an equivalent in a free zone). This is required to process employee visas.

Apply for your own residence visa and for any employees you plan to hire. This process involves a medical fitness test and biometric scans.

8. Open a Corporate Bank Account

Select a bank in Dubai that aligns with your business needs. To open a corporate bank account, you will need to provide your new trade license and company documents. This is a crucial final step to start your business operations

Tip: Partnering with a business setup expert like Shuraa can help you fast-track this process, ensure compliance with local regulations, and avoid costly delays.

What is the Cost of Starting a Financial Consulting Company in Dubai?

If you set up in the Dubai Mainland, the cost of a financial advisor license in UAE generally ranges from AED 12,000 to AED 25,000. You’ll also need to rent office space, which can cost anywhere from AED 10,000 to AED 35,000+ per year depending on size and location. Add visa costs (around AED 3,000–5,000 per visa) and other fees like government approvals, notary, and PRO services.

Free zones offer affordable packages, starting as low as AED 12,900 (e.g., IFZA). These packages often include your license and office desk. For more premium zones like DMCC or DIFC, the cost may go up to AED 28,000 or more, especially if you include multiple visas.

In addition to initial setup costs, you should also budget for ongoing fees such as license renewals, visa renewals, and potential corporate tax (currently 9%) on profits above AED 375,000.

Why Start a Financial Consulting Business in Dubai?

Here’s why starting a financial consulting company in Dubai is a smart choice:

1. Tax-Free Personal Income

One of the biggest draws? No personal income tax. This means more take-home earnings for you and potentially lower costs for your clients. For a consultant, that’s a huge edge in maximizing profitability.

2. Growing Demand for Financial Expertise

With more entrepreneurs, startups, family businesses, and high-net-worth individuals moving to Dubai, the need for reliable financial guidance is higher than ever.

3. Easy Global Expansion

Once your company is established in Dubai, you can easily expand to other GCC countries or international markets. UAE’s global trade agreements and business-friendly policies help you grow without borders.

4. Surge in M&A Activity and Corporate Finance

The UAE is seeing a notable rise in mergers and acquisitions (M&A) as both local and international companies look to consolidate and grow. This trend creates a high demand for corporate finance advisory services, including due diligence, valuation, and capital restructuring.

5. Regulated Yet Flexible

Financial free zones like DIFC offer a well-regulated environment with international standards, especially for firms offering investment or wealth management services. Meanwhile, general financial advisory firms can operate in other zones with less complexity and more flexibility.

Your Next Step Begins Here

Dubai’s location, tax advantages, strong financial infrastructure, and growing demand for expert advisory services make it an ideal place to start financial consulting company. However, the local rules and laws, may seem a bit overwhelming. But you don’t have to worry, Shuraa Business Setup is here to help.

From choosing the right setup and getting your license, to handling approvals, visas, office space, and paperwork, we take care of it all. We can also support you with accounting, tax advice, and staying compliant with local laws. Reach out to our team today!

Frequently Asked Questions (FAQs)