But of course, consultants are not a local phenomenon. The global management consulting market is vast, topping USD 275bn in 2018 and is expected to expand to USD 285bn by the end of 2019. Here in this part of the world, the industry is just as sizeable. Recent figures put the GCC market size at USD 2.8bn with year-on-year growth of 6%.

Within the GCC, there can be little argument that the UAE is the ideal place to start a consulting business. Not only is it home to a wide array of businesses creating demand for consultancy services, but it also boasts a 0% tax rate, a stable economy, and low barriers to entry.

It’s so simple to start a consultancy business in the UAE that, with the help of a company formation expert, you could be up and running in a matter of days.

How to start a consultancy business in the UAE

There are three common routes to starting a consultancy business in the UAE – either by forming a company in the mainland, doing the same in a free zone, or setting up in either as a freelancer.

If you decide to set up on the mainland, you should make your application to the local municipality or Department of Economic Development (DED). When trading on the mainland, you are free to set up anywhere and can take on government work.

Alternatively, if you start your business in a free zone, you can make your application directly to the relevant authority. When you do business from a free zone, you will benefit from a 100% customs tax exemption, zero currency restrictions, and the ability to repatriate all capital and profits to your home country.

It is also possible to set up as a freelancer, either in the mainland or in a free zone, and conduct your business under your own name.

In all cases, a company formation expert can manage every stage of your application on your behalf.

Wherever you set up, there are no formal requirements to become a consultant. However, you are expected to be knowledgeable in your field. This knowledge could come in the form of relevant qualifications to your industry or years of experience in the sector.

Now to answer the key question – how to start a consultancy business in the UAE. With the right guidance, the process takes just four key steps:

Step 1: Choose your business activity

While the overarching activity that you will undertake is consultancy, it is imperative that you define exactly which field you intend to trade in. There are several common consultancy activities in the UAE including corporate management consulting, HR consulting, IT consulting, risk management, strategy consulting, project management consultancy, and sales consulting.

The full list of permitted activities is published by the DED. A company formation expert can help you choose the one that most closely aligns with your business.

Step 2: Choosing your company name

A step of the business incorporation process that takes on more importance here in Dubai is the choosing of your company name. That’s because as well as the need for a name that’s catchy and captures the essence of your business, you’ll also need to stick to the UAE’s clearly defined naming conventions.

In short, UAE company names must not contain any blasphemous or offensive language, any references to well-known institutions or any abbreviations of your name – though your full name is acceptable.

Your name should also have a legal entity attached to it such as FZE or LLC. It must also relate to your business activity, not resemble the name of any other company, and be available to register.

Step 3: Applying for your license

The next, and most important, step is to apply for a trade license for your consulting business.

If you’re setting up in the mainland, you can make your license application directly to the Department of Economic Development. If you’ve chosen a mainland setup, you should apply directly to the managing authority of your chosen free zone.

As this is such a pivotal step, it’s advisable to work closely with a company formation expert to avoid delays and possible rejection.

Documents required for a Dubai consulting license 

When setting up as a consultant in the UAE, you are usually required to submit several documents along with your application form, including:

• A copy of your passport
• Several passport photos
• Proof of relevant experience or qualifications
• A No Objection Certificate from your current employer (if applicable)

Step 4: Applying for your visa

The final step is to apply for your visa.

This process involves four stages including a medical fitness test and biometric capturing. In all, it usually takes less than a week.

As the holder of a UAE trade license, you can also sponsor others such as your children, a spouse, or domestic staff for their visas too, providing you meet the eligibility criteria.

The cost of a consulting license 

The cost for a consultancy license typically ranges between 6,000 and 12,000 AED.

This price variation can be influenced by choices like operating as a freelancer or establishing a company in a mainland or free zone, deciding on office premises, and hiring employees. Generally, the most economical option is to set up in a free zone, where the license package often covers visa application fees and access to business facilities and co-working spaces.

About us

When starting a UAE consultancy business, getting the right guidance beforehand is key. That’s why it’s always advisable to undertake the steps with the assistance of a registered company formation agent to eliminate any potential hassles that might arise.

With more than 15 years of experience in company incorporation, Charles Ntumwa Services can help you get your business up and running within a matter of weeks. We’ll manage the entire process on your behalf and correspond with all relevant authorities for you. All you need to do is wait for the green light to start doing business.

Charles Ntumwa Services helps entrepreneurs in the UAE with all their company setup needs. For more information, call us now on (800 3733 9663). 

The post How to Open a Consulting Business in the UAE appeared first on WWF.

Low cost is certainly not the first thing that springs to mind when you think of Dubai. The emirate’s sprawling metropolis, imposing skyline and luxury landscape send the opposite message.

However, Dubai is not all about bright lights and big business. There are plenty of startups, freelancers and micro-businesses here too. Dubai’s welcoming business environment, superb trading location, low tax rate and encouraging bureaucracy is open to all – both large and small.

The cost of business setup in Dubai does not have to be prohibitive. If you’re looking to start a business with limited capital, this is the place to do it. There are countless opportunities here, in fields as diverse as hospitality, travel, technology, and trading.

With the right guidance from a company formation expert, it’s perfectly possible to start a business in Dubai with little or no money. Here’s how.

Low-cost business setup in Dubai

If you’re looking for the most cost-efficient way to register a company in Dubai, look no further than the emirate’s free zones.

Free zones truly are the home of low-cost business setup. Not only do they offer affordable license packages, inclusive of visa costs, but many also provide facilities and premises for ad-hoc use.

One of the largest outlays when running a business is office space. When you set up in a free zone, you do not have to worry about this expense. Many offer the use of co-working facilities as part of the package price, along with meeting and conference rooms and reception services if required.

Should you need a larger space, such as a showroom or warehouse, there is an additional cost. But many free zones do provide units at rates much lower than in the mainland.

The advantages to free zone setup don’t end there. Along with Dubai’s 0% tax rate on both corporate and personal income, free zone businesses benefit from 100% customs tax exemption, zero currency restrictions and the ability to repatriate all capital and profits.

What is the cheapest free zone in Dubai?

It is difficult to pick out the cheapest free zone in Dubai.

The most cost-effective free zone license package will depend on numerous factors such as the nature of your business, the number of visas you require and whether or not you need the use of premises.

There are plenty of low-cost free zone license packages available across Dubai. You can choose from any of the following free zones:

• Dubai Technology Entrepreneur Centre (DTEC)
• Dubai 1 Central
• Dubai Airport Free Zone (DAFZA)
• Dubai Healthcare City
• Dubai International Financial Centre (DIFC)
• Dubai Internet City
• Dubai Knowledge Park
• Dubai Media City
• Dubai Multi Commodities Centre (DMCC)
• Dubai Silicon Oasis
• Dubai South
• Jebel Ali Free Zone Authority (JAFZA)

If you are really on a mission to keep costs down, you may even like to look at free zones outside of Dubai, in emirates such as Ras Al Khaimah, Sharjah and Fujairah. Many offer competitive license packages and overheads are sometimes lower than in Dubai.

How to start a business in Dubai

The cost of business setup in Dubai is largely dependent on the type of company you wish to set up. If you need a large workforce or the use of a warehouse or factory then your outlay will be significantly more than if you’re setting up alone.

That’s why the first decision to make before starting out in Dubai is to outline your chosen business activities.

Your activity or activities must be chosen from a pre-determined list. It’s important that you list every activity that applies to your business when making your application as failure to do so can lead to fines or even license revocation.

There are over 2,000 to choose from so no matter your industry or the type of business you undertake, you are sure to find an activity that fits the bill.

The next step of the low-cost business setup process is to choose your company name.

This process takes on more importance here in Dubai than elsewhere. That’s because as well as the need for a name that’s catchy and captures the essence of your business, you’ll also need to stick to the UAE’s clearly defined naming conventions.

In short, UAE company names must not contain any blasphemous or offensive language, any references to well-known institutions or any abbreviations of your name – though your full name is acceptable.

Your name should also have a legal entity attached to it such as FZE or LLC. It must also relate to your business activity, not resemble the name of any other company, and be available to register.

Next, you can apply for your trade license. If you’re setting up in the mainland, the license will be issued by Dubai Department of Economic Development (DED). If you’ve chosen a free zone setup, your license will be issued by the chosen free zone.

In both cases, you are usually required to submit several documents along with your application form, including:

• A copy of your passport – and that of any other shareholders
• Your business plan
• A copy of your signature
• A No Objection Certificate from your current employer (if applicable)

You will also need to apply for a visa so you can work in the UAE. This process involves four stages including a medical fitness test and biometric capturing. In all, it usually takes less than a week.

As the holder of a Dubai trade license, you can also sponsor others such as children, a spouse or domestic staff for their visas too, providing you meet the eligibility criteria.

Whatever your chosen business, one of the most cost-efficient ways to register a company in Dubai is to work with a company formation expert. We can manage the entire process for you, aligning your needs and your budget to a suitable license package.

Starting your low-cost Dubai business

By following the steps above, it is possible to obtain your trade license and establish a low-cost business in Dubai.

However, it is always advisable to undertake the steps with the assistance of a registered company formations agent to eliminate any potential hassles that might arise.

With more than 15 years of experience in company incorporation, Charles Ntumwa Services can help you get your business up and running within a week or two. We’ll manage your license and visa application and correspond with all relevant authorities for you. All you need to do is wait for the green light to start trading.

The post Low Cost Business Setup in Dubai: [Updated for 2024] appeared first on WWF.

In this article, we delve into the requirements for forming a Limited Liability Company (LLC) in the UAE. We’ll explore the benefits, costs, necessary steps, required documents, and special permissions needed for certain activities.

By the end of this piece, you will have a comprehensive understanding of the process and requirements for establishing an LLC in the UAE, empowering you to make informed decisions for your business venture.

Benefits of starting an LLC in UAE

Quick setup process

Forming an LLC in the UAE is a quick and straightforward process. You can register your business with the Department of Economic Development (DED) in just 90 minutes. Typically, it takes four to five days to set up. However, various issues can delay the procedure, including government certifications.

Tax benefits

One of the significant advantages of forming an LLC in the UAE is the favourable tax environment. Compared to many other countries, taxes in the UAE are very low. This makes it an attractive option for entrepreneurs and businesses looking to maximize their profits.

Range of business activities

With an LLC in the UAE, you have the freedom to engage in a wide range of business activities. You can apply for a DED license to engage in any of the 2,000 allowed economic activities, from agriculture to travel. This flexibility allows businesses to diversify and expand their operations.

100% foreign ownership

In the UAE, several company license categories no longer require a UAE National Sponsor. This allows 100% foreign ownership in non-free zone enterprises, making it an attractive option for foreign investors and businesses.

LLC company formation cost in UAE

General cost range

Generally, the cost of setting up an LLC in Dubai ranges from AED 20,000 to 30,000. This range is an estimate and the actual cost can vary based on the specific requirements of your business.

Factors affecting the cost

The fees associated with setting up an LLC can vary depending on the industry type and services required. For instance, certain industries may require additional licenses or permissions, which can add to the overall cost. It’s also important to consider the cost of ongoing compliance and reporting requirements.

Steps to open an LLC in UAE

Choosing a name

The first step in forming an LLC is choosing a name for your company. This name should reflect the nature of your business and comply with the regulations set by the DED.

Selecting a location

The next step is selecting a location for your business. When choosing a location, factors such as accessibility to your market, suitability to the nature of your business, and transit availability should be considered.

Selecting a business activity

Choosing the correct business activity is critical for any company registration in Dubai. Your chosen activity should align with your business goals and comply with the regulations set by the DED.

Submitting documents to the DED

Once you have chosen a name, location, and business activity, the next step is to submit all necessary documentation to the DED for approval. This includes your business plan, proof of financial resources, and any other required documents.

Approval process for activities

If your intended business engages in specific activities, you may need to obtain approval from other necessary authorities. This could include health and safety inspections, environmental impact assessments, or other industry-specific approvals.

Obtaining licenses

Once the necessary authorities have approved your business activity, you can proceed with obtaining the necessary licenses and permits. This may include a trade license, a certificate of incorporation, and other necessary legal documents.

Documents required to start an LLC in UAE

Passport copy of the investor

The first requirement is a copy of the investor’s passport. This document is used to verify the identity of the investor and is a standard requirement for most business registrations.

Passport copy of the local sponsor

If your LLC has a local sponsor, a copy of their passport is also required. This helps to verify the identity of the sponsor and their involvement in the business.

No Objection Certificate

If the shareholder is currently working in a UAE company, a No Objection Certificate from their employer is required. This certificate confirms that the employer has no objections to the employee starting a business.

Copy of Emirates ID

A copy of the Emirates ID of the investor and the local sponsor (if applicable) is also required. This is another form of identification required by the DED.

Application form of registration from DED

An application form for registration from the DED is also needed. This form includes details about the business, including its name, location, and intended activities.

Attested tenancy contract for the office premises

If your LLC is to have a physical office location, an attested tenancy contract for the office premises is required. This document confirms the location of your business and that you have the right to use the premises.

Attested Memorandum of Association from public notary

Finally, an attested Memorandum of Association from a public notary is required. This document outlines the relationship between the shareholders of the LLC and is a key part of the registration process.

Special permissions and licenses for certain activities

Tourism activities

If your LLC is involved in tourism activities, you may need to obtain special permissions or licenses. These could include a tourism license, permits for specific tourist activities, or other related permissions.

Health care activities

Health care activities also require special permissions and licenses. These could include a health care facility license, professional licenses for health care practitioners, or other related permissions.

Architecture and engineering consulting firm

If your LLC is an architecture and engineering consulting firm, you may need to obtain special permissions or licenses. These could include a professional engineering license, permits for specific engineering activities, or other related permissions.

Shipping, freight forwarding, and logistics activities

Shipping, freight forwarding, and logistics activities also require special permissions and licenses. These could include a shipping license, permits for specific shipping activities, or other related permissions.

Educational services

If your LLC is involved in educational services, you may need to obtain special permissions or licenses. These could include an educational institution license, professional licenses for educators, or other related permissions.

How Charles Ntumwa Services can help

When it comes to setting up an LLC in the UAE, having the right support is invaluable. Charles Ntumwa Services, a leading corporate advisory service provider established in 2008, offers comprehensive solutions tailored to your unique needs.

As a trusted provider to clients from over 90 countries, Charles Ntumwa Services has the expertise and experience to guide you through the process of setting up your venture in the UAE. As an officially registered agent across major UAE free zones, we can support company setups, mainland and offshore structures and offer visa and second citizenship support.

Our services go beyond just licensing and setup. We connect our global client base of over 10,000 to a wide range of B2B solutions through our network of esteemed partners. This includes services in accounting, taxation, financial audits, and more, allowing you to focus on what matters most – growing your business.

With Charles Ntumwa Services, navigating the business setup landscape in Dubai becomes a hassle-free experience. Our dedicated team of experts is ready to help you make the most of the opportunities the UAE’s thriving business sector offers. Whether you’re looking to start a new venture or expand an existing one, trust Charles Ntumwa Services to provide the support you need to succeed.

The post LLC Company Requirements UAE [2024 Guide] appeared first on WWF.

Charles Ntumwa Services (WWF) is proud to announce the launch of a strategic partnership with Dov Weinstein & Co. Certified Public Accountants. 

The move allows WWF to extend its comprehensive and reliable company setup assistance to businesses and entrepreneurs expanding their operations from Israel to the UAE. As partners, both WWF and Dov Weinstein & Co. now offer a broader range of services, firmly establishing their respective positions as turnkey players in the market.

With over three decades of industry experience, Dov Weinstein & Co. Certified Public Accountants is a renowned leader in assurance and advisory, accounting and bookkeeping, corporate and individual taxation, Israel’s diamond industry, international tax planning, and Israeli trusts.

Together, WWF and Weinstein & Co., now proudly offer auditing and assurance advisory services, bringing critical niches of consulting such as accounting, valuation, American financial audits, and more under one roof. 

The new range of services offered through the partnership caters to businesses from startups and SMEs to government and public sector entities, and those in manufacturing, distribution, technology, and many other industries.

With international taxation being such an important consideration in the global market, WWF has also expanded its services to include international tax consulting and planning, American citizen taxation services, and more.
 

For more information on our strategic partnership, new range of services, or to discuss setting up or relocating your business, get in touch with Charles Ntumwa Services by phone +971 4 355 5700 or by email ic@worldwideformations.com.

You can also contact Dov Weinstein & Co. Certified Public Accountants at +972 77 738 6666 or visit www.wcpa.co.il for more information. 

The post Charles Ntumwa Services partners with Dov Weinstein & Co. appeared first on WWF.

When looking to start a business in the UAE, entrepreneurs are often first drawn to Dubai. However, it is just one of several prosperous emirates ready and waiting to welcome investors from the world over.

The capital of those emirates, Abu Dhabi, is one such location. With its 0% tax rate, strategic central location, world-class infrastructure, and encouraging business environment, it’s the ideal base for businesses of all sizes, across a range of industries.

And that’s not all. When setting up with the help of a trusted company formation expert, starting a business in Abu Dhabi is fast, affordable, and simple.

Benefits of starting a business in Abu Dhabi

Abu Dhabi is among the fastest-growing metropolitan economies in the world, accounting for around 65% of the UAE’s total economic output. As part of the UAE, it boasts a central location at the heart of Asia and Europe, as well as direct trading links with Africa and America.

The Abu Dhabi government is business-focused and provides a broad range of support measures that make it easy to start and grow your enterprise. The emirate’s state-of-the-art transport infrastructure makes travel and trade simple, while its time zone overlaps with every corner of the business world.

Outside of the world of business, Abu Dhabi ranked 1st in the 2020 Numbeo City Crime Index, and was rated the second-best city to live in in the Ipsos Top Cities Index.

Abu Dhabi is also home to several Free Zones & Industrial Zones such as Abu Dhabi Airport Business City and Khalifa Industrial Zone Abu Dhabi (KIZAD), ICAD etc, all of which afford businesses customs tax exemption, currency freedoms and the capital and profit repatriation. Free zones businesses may also be 100% owned by foreign investors across most sectors.

Abu Dhabi company types

There are two common ways to start a business in Abu Dhabi – in the mainland or in a free zone. 

Mainland businesses can set up anywhere throughout Abu Dhabi. They are also permitted to trade with the local market without the assistance of a local agent.

Companies being set up in Abu Dhabi Free Zones have the privilege of applying and obtaining a special DED License (Dual License), which will enable companies to trade in mainland, as well as apply for government tenders etc., without the requirement of a local sponsor.

Within these categories are several business types, including sole proprietorships, civil companies, Limited Liability Companies (LLCs), and branches of existing companies.

These companies can be operated under several different licences, including:

• Professional license
• Commercial license
• Industrial license

Both the company type and license that is right for you will depend on multiple factors such as your chosen business activity and the number of company shareholders.

How to start a business in Abu Dhabi

There are several steps to take before applying for your business license in Abu Dhabi. While no step is particularly complex on its own, each requires a knowledge of the business incorporation process and it is therefore best undertaken with the assistance of a company formation expert.

Step 1: Choose your business activity

Every business in the Abu Dhabi must list a business activity, or activities, on its business license. It’s important that you list every activity that applies to your business when making your application as failure to do so can lead to fines or even license revocation.

There are over 2,000 to choose from so no matter your industry or the type of business you undertake, you are sure to find an activity that fits the bill.

Step 2: Choosing your company name

A step of the business incorporation process that takes on more importance here in the UAE is the choosing of your company name. That’s because as well as the need for a name that’s catchy and captures the essence of your business, you’ll also need to stick to the UAE’s clearly defined naming conventions.

In short, UAE company names must not contain any blasphemous or offensive language, any references to well-known institutions or any abbreviations of your name – though your full name is acceptable.

Your name should also have a legal entity attached to it such as FZE or LLC. It must also relate to your business activity, not resemble the name of any other company and be available to register.

Step 3: Applying for your license

Now we come to the most important step – applying for your business license.

You are usually required to submit several documents along with your application form, including:

• A copy of your passport – and that of any other shareholders
• Your business plan
• A copy of your signature
• A No Objection Certificate (NOC) from your current employer (if applicable)

A company formation expert can help you with this step and manage the entire application process on your behalf.

Step 4: Applying for your visa

Finally, you’ll need a residency visa to work in Abu Dhabi and across the UAE.

This process involves four stages including a medical fitness test and biometric capturing. In all, it usually takes less than a week.

As the holder of a UAE business license, you can also sponsor others such as children, a spouse, or domestic staff for their visas too, providing you meet the eligibility criteria.

Calculating the Abu Dhabi Business license cost

The cost of setting up in Abu Dhabi will depend on location, business type, business size and much more. However, in most cases, setting up in a free zone is the most cost-effective approach.

To give an example, KIZAD offers business solutions for all types of business activities such as manufacturing, logistics, trade, and distribution, with packages start from just AED 9,450.

Start your business in Abu Dhabi

It is always advisable to undertake the steps with the assistance of a registered company formations agent to eliminate any potential hassles that might arise. With more than 15 years of experience in company incorporation, Charles Ntumwa Services can help you get your business up and running within a week or two. We’ll manage your license and visa application and correspond with all relevant authorities for you. All you need to do is wait for the green light to start trading.

The post Abu Dhabi Free Zone Business Setup Stimulus Packages Start From Just AED 9,450 appeared first on WWF.