The UAE has become the go-to location for investors to set up a business. One of the noticeably booming businesses in the country is financial consultancy.
Especially in Dubai, there is a high demand for aid in financial advisory. The demand is due to the increase in the businesses being established in the emirate. This inevitably leads to the need for additional support to ease the process of running a company. Hence, a lot of corporations turn to the aid of professionals in this industry.
If you’re interested in starting your own company, continue reading to find out how you can obtain a financial consultancy license in Dubai free zone.
Benefits of starting a financial consultancy company in a free zone
- Full foreign ownership of business
- Full profit repatriation
- Strategic location
- Global connectivity
- Range of business activities
- Time-efficient process
- Convenient registration
- No Currency restrictions
Financial consultancy 101
Financial consultancy services are those that are provided by certified financial consultants to individual clients, small and large scale corporations, as well as government agencies.
Corporations and individuals who require expertise in accounting, debt management, insurance, fundraising and other aspects of finance would require the aid of financial consultants in Dubai.
Activities permitted under the license
The following activities are permitted under this professional license:
- Financial statements and performance analysis
- Market research, price trends, analysis, and future forecasts
- Arrange feasibility studies
- Operate consulting on securities, commodities, and related contracts
- Investment portfolio modelling
- Investment consulting services
The cost for a financial consultancy license in Dubai is approximately AED 17,000. This price is with the inclusion of visa.
Procedure to start a financial consultancy business in Dubai
Setting up a financial consultancy business in a free zone is an easy procedure. These jurisdictions do not require plenty of paperwork and can be completed fairly quickly. The process is as follows:
- Selecting the preferred free zone
The first step in starting your company is to select the most suitable jurisdiction to fit your business needs. There are numerous free zone options. You can pick one depending on which available activities are the most fitting for your business.
- Submit application forms and required documents
The next step is to submit your application form. During this process you will also have to finalise the location of where your company will be based.
- Start the process of visa application
Upon submitting all the required documents, you can start the process of visa application. If you want to sponsor dependents, you can also register to do so during this stage. Based on the chosen free zone and activities, you will have a certain visa eligibility. However, exceeding that limit would require you to pay additional charges.
- Open a bank account
Having a free zone bank account is necessary to ease the process of running a business. This would help the investor keep track of their company’s finances such as expenses. This would also help to calculate tax liabilities smoothly and regulate cash flow more successfully. Moreover, having a corporate bank account is key to ensure you don’t need to complicate your business finances. It can be a one-stop solution for all your business’ financial needs.
Documents required to start a financial consultancy in a free zone
- Passport copy of the investor
- Visa copy of the investor
- 2 coloured passport sized photographs
- Business plan
Taking the chosen free zone into consideration, you may have to submit additional documents.
Connect with Shuraa and start your company
Free zone company setup in Dubai is undeniably one of the most opted choices for foreign investors. This is because the UAE free zones offer several benefits to entrepreneurs looking to venture into the world of business in the country.
Shuraa is one of the top business setup companies in the UAE. Active for over 20 years, we have been aiding investors from around the globe to maintain their business. We guarantee that the entire procedure of setting up your company in the country is easy and quick.
Get in touch with our free zone business experts and find out more about setting up a company in Dubai, UAE. Call us at +97144081900 or send a WhatsApp message on +971507775554. You also have the option to drop us an email at firstname.lastname@example.org and get your queries answered in no time.