Planning to set up education consultancy business in Dubai? Read our Step by Step Guide.
If you are looking to break into the Dubai consultancy market, read these tips from our experts at Business Formation Dubai. The beginning of any business setup in Dubai follows the same important and well documented steps:
Step 1: Determine your legal type and business activity
Step 2: Register your trade name
Step 3: Get approvals from relevant authorities
Step 4: Licensing and Business Registration
Step 5: Open a business bank account
Step 6: Get offices
Step 7: Get staff visas
Determine your legal type and business activity
In the first step you will identify the legal form your business will take. There are many legal structures for foreign businesses in UAE. Popular ones include,
- An Establishment (owned by a single individual)
- Limited Liability Company (LLC) (owned by 2 or more individuals, or corporates)
- Branch of a foreign company (100% foreign ownership)
- Free zone company (the above structures can be formed in free zone setup)
The most common legal structure for a consultancy firm in Dubai is establishment which is owned by a single person. Worth mentioning that the owner bears all financial liabilities and obligations. This is low cost business setup but it is established quickly as just ID documents and qualifications of the person are needed.
- According to Department of Economic Development Dubai, individuals who want to practice any profession or craft in which they rely on their mental, intellectual abilities and talents will need to obtain professional license. Businesses that fall under professional license include consultancies, law firms, advertising & marketing firms etc.
- If you want to setup free zone company than free zones in UAE offer different license types which suits independent consultants. Benefit of setting up in a free zone is that you can own your business completely. There is no need to have Local Sponsor. However, your consultancy services will be limited to free zone which may not be viable for you.
- In case of branch of a foreign company, it can be linked to its parent company.
- If the individual/company wants to access all areas in UAE for delivering their consultancy services, the most suitable option for them is Limited Liability Company. Having an onshore LLC will get them maximum worship of 49% and 51% ownership will be given to a local sponsor. It is mandatory to have a local sponsor (UAE national or 100% UAE owned company) as a partner in LLC.
After you have decided you company formation type, you will register your company trade name with DED Dubai or free zone authority. You will also need to obtain business license and complete all procedures required for Business registration Dubai.
Education Consultancy Business in UAE
United Arab Emirates is amongst the leading geographies in the Middle East for consultancy firms. While the prospects for any business setup in Dubai are abundant, consultancy remains a very attractive and in-demand sector as clients in UAE are trying to achieve exponential growth in a short span of time and limited talented pool. Now is the perfect time and market condition for consultancy to thrive in.
The UAE is set to become a leading source for investment in the education sector with thousands of new schools that are going to be formed in Dubai in the next two years. UAE is also considered as a preferential educational destination for students as the country is ranked 15th in the quality of education that it delivers.
Need Help In Setting Up Consultancy In Dubai?
The experts at Business Formation Dubai understand every step of the process to guide consultancy company setups with affordable and tailored packages in Dubai. Save your time, money and a great deal of stress by talking to our business setup consultants Dubai.