Collect Business License
Once all the paperwork and required approval are completed, you will receive the company trade license all approved from DED. Now you are legally entitled to start doing business in UAE. The next important step after obtaining the business trade license is applying for a bank account opening and Visa processing for a residency visa.
AUD Exam should Qualify as a Director in Management Consultancy Firms in Dubai
The minimum degree required as per the DED for a business owner for setting up a management consultancy firm in Dubai is Bsc in Business or Economics, along with three years of hands-on experience.
It is also mandatory for the business owner or a director of a proposed management consultancy company to clear the Management Skills Placement Test conducted by the American University of Dubai (AUD). The exam takes place at the AUD location and is conducted by the Centre for Executive Programs and Professional Services department.
Designed as a 2-hour test, the AUD exam requires companies to present their trade name during the registration process. The result of the AUD exam is declared on the same day from AUD. In case the candidate fails then he/she needs to take admission for a course which is conducted by AUD, before the next attempt, and then re-apply for the exam.
A business owner or director must join the AUD program for qualifying directors in the Management Consultancy Company. For the foreign companies interested in the consultations activity, the director must join the AUD program for qualifying directors in the consultancy domain.
Broad classification of the Licenses available in Dubai
Selecting a business license is critical. It will help you determine the options regarding the legal form of the company Management Consultancy License in Dubai and the parties associated with the business entity.
Business Licenses in Dubai are broadly categorized into:
Commercial (Trading) License
Professional (Vocational) License
Legal Structure of a Management Consulting Firm in Dubai
Unlike LLC in Dubai, UAE, in which UAE National is 51% holds shares and foreign partner holds only 49% shares, DED allows 100% ownership to foreign nationals for professional licenses including management consultancy activity. However UAE national remains mandatory Management Consultancy License in Dubai but rather than his stake within the capital,
He is going to be appointed as a legal service agent (popularly known in Arabic Wakil-e-Khidmaat). And the Legal service agreement (LSA) with UAE national will be notarized at the Notary office in Dubai. In the case of more than one foreign partner,Management Consultancy License in Dubai the company will be called Civil Company and Memorandum of Association (MoA) between foreign partners will be prepared.
Procedure to get a Management Consultancy License in Dubai
Select Business Activity
Select Legal Form
Select the final trade name of the business
Apply for the Initial Approval
Prepare MOA & LSA Agreement
Establish a Business Location
Get Final Approval
Collect Business license
Management Consultancy License falls into the category of Professional License by DED. For step by step process of obtaining a Professional license in Dubai. Read this (this will be a link for another blog article and we will write the content Management Consultancy License in Dubai for step by step process and add the link here)
Contact us for Management Consultancy License Dubai
We at BCM Corporate services LLC, extend our quality services to our client with well experienced & qualified Business consultant with rich expertise in document attestation Services in Dubai so that client’s requirements of Business setup in Dubai. can be completed on time with satisfactory Results outcome. Please feel free to reach us for your Business setup and Management Consultancy License Dubai requirements on our email id: firstname.lastname@example.org or call us on +971502585921