How to Get a Financial Consultancy License in Dubai UAE?
Dubai, a bustling financial and trade hub of the Middle East, holds great appeal for businesses seeking a Financial Consultancy License. Its strategic location, bridging the gap between the east and the west, entices financial consultants to establish a strong presence in this dynamic region. Dubai acts as a vital conduit, connecting the international financial markets of London, New York, Hong Kong, and Tokyo.
Under the Financial Consultant License, investors can engage in a wide range of activities, including budgeting, debt management, financial advisory services, and comprehensive financial planning. The role of financial consultants is of paramount importance to both companies and high-net-worth individuals. The field of financial consulting in Dubai boasts an immense demand and untapped potential for business opportunities.
Where I can Setup a Financial Consultancy company in UAE?
Financial consultancy services can be established in both the Mainland and Free Zones of the UAE. Obtaining pre-approval from the Security Commodity Authority (SCA) is a mandatory step for processing the financial consultancy license in the UAE.
The Dubai International Financial Centre (DIFC) serves as the thriving nucleus for financial companies and consultancies in the UAE. Situated at the heart of Dubai, it stands out as one of the busiest financial hubs in the Middle East.
DIFC, being a Free Trade Zone, offers entrepreneurs the opportunity to own their company entirely, benefit from zero income and corporate tax, and enjoy access to world-class amenities.
Alternatively, setting up a financial consultancy in the mainland of the UAE presents a compelling option. The Department of Economic Development (DED) Dubai issues a financial consultancy license, allowing investors to establish either an LLC Company or a Professional Services company in mainland Dubai.
Engaging in Business Activities with a Financial Consultancy License in Dubai
Under the financial consultancy license in Dubai, the investor can offer a range of business activities to clients, ensuring exceptional quality, optimal word choice, well-structured content, enhanced readability, and eloquence, while maintaining the original meaning.
Here are some business activities that can be offered:
– Conducting economic and financial analysis, as well as feasibility studies
– Forecasting and predicting commodity prices, both present and future
– Providing financial planning, advisory, and investment consulting services
– Evaluating and assessing financial statements and contracts
– Analyzing and reporting on company performance
– Making informed decisions on financial investments through price and volume analysis, and more.
The financial consultancy offers extensive support to companies and high-net-worth individuals, assisting them in diversifying their assets and developing effective financial plans. They provide advisory services and solutions to help businesses effectively grow their finances.
Required Documents for Establishing a Financial Consultancy in Dubai
Establishing a financial consultancy in Dubai involves simple procedures with minimal documentation. The specific document requirements may vary slightly depending on the chosen business jurisdiction.
- Required Shareholder Documents:
- – Passport copy
- – Photograph
- – CV
Documents for Free Zone/DED Company Registration:
– Company Registration Form
Optional Document for Banks and Approval Authorities (SCA):
– Business Plan
Special Approval Form for SCA.
PRO Consultancy takes care of all document processing, application form preparation, and document submission on behalf of clients, allowing them to fully concentrate on business growth strategies.
Our expert Consultants provide comprehensive guidance to investors throughout every stage, ensuring the acquisition of a financial consultancy license at the earliest opportunity and with minimal costs involved.
Cost of obtaining a Financial Consultancy License in Dubai.
The fee for obtaining a Financial Consultancy License in Dubai differs depending on the business jurisdiction. Additionally, the cost varies within Free Zones based on factors such as visa quota requirements, available facilities, office space, and other considerations.
An LLC Mainland Company with a Financial Consultancy License, excluding office space and visa, has an estimated cost of AED 25,000. On the other hand, a Free Zone Company with a Financial Consultancy License, also excluding office space and visa, carries an approximate cost of AED 11,900.
The DIFC region in UAE is a prime choice for entrepreneurs looking to establish a Financial Consultancy business in a Free Zone. Renowned as the financial hub housing numerous banks and major fund houses, it offers an ideal setting for financial activities. Moreover, UAE boasts several free trade zones that facilitate obtaining financial consultancy licenses as a key business activity.
How to apply for Financial Consultancy License in Dubai UAE?
The Financial Consultancy License in Dubai can be obtained through two onshore business jurisdictions: the mainland and Free Zone. While the process follows a structured approach, there are slight variations in the steps required depending on the chosen jurisdiction. By optimizing word choice, improving structure, enhancing readability, and adding eloquence, we can retain the original meaning while elevating the quality of the writing.
To apply for the Financial Consultancy License in Dubai, follow these steps:
1. Obtain approval for the desired trade name (choose from 3 options).
2. Prepare the application form for company registration in the Mainland or Free Zone.
3. Provide supporting documents of the shareholder(s), including photographs and passport copies.
4. Obtain pre-approvals from the Security Commodity Authority (SCA).
5. Submit the required documents, application form, and fees to the licensing authority to obtain the financial consultancy license.
6. Obtain the necessary company documents, such as the Memorandum of Association, tenancy contract for office space, and Shareholder Agreement.
7. Proceed with applying for a UAE residence visa for investors and open a corporate bank account.
By following these steps, you can successfully navigate the process and obtain the Financial Consultancy License in Dubai.
Exploring the Potential of Financial Consultancy License in UAE
The UAE presents numerous opportunities for Financial Consultancy Company due to its thriving market. With a stable government, effective governance, and a robust banking system, it serves as an ideal destination for businesses to establish their headquarters.
Over the past decade, Dubai has witnessed the establishment of numerous large and small-scale fund houses and companies. The region’s financial growth, coupled with technological advancements, is paving the way for Fintech companies and digital banks.
As a result, Dubai’s financial ecosystem is experiencing unprecedented growth, encompassing areas such as Fintech, blockchain, cryptocurrencies, and digital banking. Financial Consultancy plays a vital role in supporting this expanding business ecosystem.
If you are interested in obtaining a Financial Consultancy License in the UAE or opening a Financial Services Company, our team is ready to assist you. Contact us today to learn more!