How to start a financial consultancy firm in Dubai Free zone

Dubai is famous for its prosperous business and for the introduction of free trade zones, providing a multitude of advantages for entrepreneurs and enterprises. One popular industry that has made large strides in recent years is the financial consulting sector. With globalization moving to the front and the financial markets beginning to get complicated, the companies in Dubai have now discovered an urgent need for experts in finance. In this blog, you will get to discover the processes and factors that are involved in setting up a financial consultancy firm in Dubai free zone, such as the required licenses, regulations, etc. If you are thinking of entering the financial consulting industry in Dubai, this blog will be of great help.

Understanding the Dubai Free Zone for Financial Consultancy Companies

Dubai is home to several free zones that have been tailor-made to handle the specific requirements of financial consulting companies. The free zones have a range of benefits and incentives for entrepreneurs who are part of the sector. Among the numerous benefits offered is one that will allow you to be 100% foreign-owned, meaning that you have full power over your enterprise. On top of that, free zones are exempt from corporate taxes, thus making it a very appealing choice for businessmen who want to get the maximum return on their investment. DIFC freezone would be recommendable as it provides all the nourishment for the businesses involved in the financial sector.

Besides, these free zones are equipped with very advanced infrastructure, such as well-equipped offices, communication facilities, and IT systems that are of the highest class. They also give you the chance to hire a large group of skilled workers, which makes it simple for you to get the best people involved in your financial consulting business. The free zones are very well connected to the main transport networks, which makes it very easy for the clients as well as the business partners to have the accessibility of the features.

Steps to be followed for starting a financial consultancy company

Establishing a financial consulting company in a Dubai free zone is a bit of a difficult process, but a sequential or step-by-step process should be followed for a smooth and successful establishment.

• Choose the Right Free Zone: Conduct research and analyse the different free zones in Dubai designed for financial consulting companies. Things to look at include location, facilities, reputation, and incentives awarded by every free zone. This cautious selection will lay the basis for your business.

• Business Plan and Legal Structure: Work on a business plan that extensively describes your business goals, target market, and strategies. Determine the most suitable legal form for your business, whether it’s a sole trader, partnership, or limited liability company (LLC). Obtain legal counsel to get information on the registration process and criteria.

• Company Registration: Submit an application for company registration with the relevant free zone authority. Furnish all the required documents, such as passport copies, proof of address, and academic credentials of shareholders and directors. Pay all relevant fees and get necessary licenses and permits to operate as a financial consulting firm.

• Obtaining the Necessary Licenses and Permits: After the company registration procedure is finalized, the most important thing is to ensure that the proper licenses and permits required to conduct business within the free zone operations of the financial consultancy company have been obtained. These licenses and permits are mandatory for the effective coordination between your business and the free zone authority in terms of law and governance.

• Office Space and Infrastructure: Choose a suitable office space within the free zone within which your company’s requirements are met. The free zones offer highly developed infrastructure facilities to their investors, comprising fully equipped offices, IT systems, and communication facilities. Change your space into a professional and welcoming environment.

• Recruitment and Hiring: Hire very skilled resources in financial consulting.  Dubai’s free zones are the centre of the venue, thus attracting many talented people, making it easier to employ the best people. Comply with employment regulations while hiring and make sure the necessary employment contracts are in place.

• Marketing and Networking: Develop a robust marketing campaign to market your consultant firm providing caveat services and attract customers. Attend industry events, seminars, exhibitions, and conferences to network with potential clients, partners, and investors. Draw on the digital platform to generate an online presence and involve your target audience.

Conclusion

In conclusion, as you are aware of the process and advantages of establishing a financial consulting company in a Dubai Free Zone, you have the skills needed to bring your dream to life. Dubai provides unique and unparalleled opportunities for entrepreneurs, thus all businesses from all over the world. A Dubai Free Zone is an ultimate platform for the take-off of your financial consulting business because of its efficient procedures, top-notch infrastructure, and skilled workforce.

 Confused about whether to start a business in mainland or freezone. Click here know more 

Elevate your financial consultancy company with CDA

CDA is the top firm in Dubai for business setup and consultancy. Our seasoned team of professionals will guide you from the very beginning of choosing the right free zone to getting the licenses and permits you need. We can also help you with business plan development, recruitment, and marketing strategies. The experts at CDA being on stand by can assist you in identifying the apt freezone for your consultancy firm and getting all the documents sorted for application of the license. You can get the personalized services from our expert anytime when you require.

Contact CDA today.  To know more about starting a financial consulting company in Dubai Free Zone