How to Get a Financial Consultancy License in Dubai?

Dubai is a major financial and trade hub of the Middle East. The financial Consultancy License in Dubai is a popular business license category.

The strategic location between the east and the west makes it a perfect choice for financial Consultants to set up their base in the region. Dubai acts as a bridge between the international financial markets of London & New York in the west to Hong Kong & Tokyo in the East.

The investor can conduct a list of activities under the Financial Consultant License in Dubai. Few of the activities include budgeting for clients, debt management, financial advisory services, financial planning, and more.

The role of financial consultants for companies and high-net-worth individuals is vital. There is a huge demand and potential for business in the field of financial consulting specifically in Dubai.

Where to Setup a Financial Consultancy in UAE?

Financial Consultancy can be set up in the Mainland and the Free Zones of UAE. There is a pre-approval required from the Security Commodity Authority (SCA) for processing the financial consultancy license in UAE.

The Dubai International Financial Centre (DIFC) is the hub for financial companies and consultancies in UAE. Located at the heart of Dubai, it is one of the busiest financial hubs of the Middle East.

DIFC is a Free Trade Zone that allows entrepreneurs to own 100% of the company, avail the tax benefits of zero income & corporate tax, and access to world-class amenities.

The mainland of UAE is also a perfect option for setting up a financial consultancy in the region. The Department of Economic Development (DED) Dubai issues a financial Consultancy license for investors to establish an LLC Company or Professional Services company in mainland Dubai.

Business Activities under Financial Consultancy License in Dubai

The investor can provide a series of business activities under the financial consultancy license in Dubai to the clients. 

Following are a few of the specific business activities that can be offered:

• Economic and financial analysis and feasibility studies
• Forecasting and predicting current & future values of commodity prices
• Financial Planning, advisory, and investment consulting services
• Financial Statement and Contract assessment and evaluation
• Company performance analysis and reporting
• Price, volume analysis & decision making on financial investments, and more

The financial consultancy provides ample support to companies and personal investors with high-net-worth in diversifying their assets and in financial planning. They offer advisory services and solutions to businesses to grow their finances effectively.

Documents Required for starting a financial Consultancy in Dubai

Setting up a financial consultancy in Dubai follows a set of straightforward processes with minimal documentation. Depending on the chosen business jurisdiction the document requirement might vary slightly.

• Shareholder details – passport copy, photograph, CV
• Free Zone/ DED Company Registration Form
• Business Plan (optional) for the Banks, Approval Authorities (SCA)
• SCA Special Approval Form

Aurion will handle all the document processing, application form preparation, and document submission for the clients so they can focus on strategies for growing the business.

Our Consultants will guide the investors in all stages of progress and ensure the financial consultancy license is obtained at the lowest cost and earliest possible time.

Fee for the Financial Consultancy License in Dubai

The Fee for the Financial Consultancy License in Dubai varies across the business jurisdictions. Also, the cost varies across Free Zone depending on factors such as visa quota requirement, facilities, office space, and more.

• For an LLC Mainland Company with Financial Consultancy License without office space & visa will cost around AED 25,000
• Free Zone Company with Financial Consultancy License without office & visa will cost around AED 11,900

The DIFC region is an ideal Free Zone destination for setting up a Financial Consultancy business in UAE. It is the hub of all financial activities, banks, and major fund houses. There are many free trade zones in UAE that offer financial consultancy licenses as a business activity.

How to apply for Financial Consultancy License in Dubai?

The Financial Consultancy License in Dubai is obtained from two onshore business jurisdictions the mainland and Free Zone. It follows a structured process with slight variations in steps across the business jurisdictions.

in general, the steps for applying for the Financial Consultancy License in Dubai is the following:

• Get the Trade Name Approved (Select from 3 names)
• Prepare the Application form for company registration in the Mainland/ Free Zone
• Provide supporting documents of the shareholder(s) – Photograph, passport copy
• Get the pre-approvals from Security Commodity Authority (SCA)
• Submit the documents, application form, and required fee to the licensing authority for obtaining the financial consultancy license.
• Obtain the associated company documents – Memorandum of Association, tenancy contract (for office space), Shareholder Agreement, etc.
• Proceed with applying for a UAE residence visa for the investors and open a corporate bank account.

Business Scope for Financial Consultancy License in UAE

Financial Consultancy Company has multiple opportunities in UAE as it is a growing market. The stable government, governance, and robust network of the banking system make UAE a perfect destination for business to establish their headquarters.

There are numerous large and small-scale fund houses and companies established in Dubai over the past decade. The financial growth coupled with technological improvements are leading way for Fintech companies and digital banks in the region,

Hence, as a whole, the financial ecosystem of Dubai is growing to new levels with Fintech, blockchain, cryptocurrencies, digital banking, and more. Financial Consultancy has a vital role in supporting the growing business ecosystem of Dubai.

Talk to our team to learn more about obtaining a Financial Consultancy License in UAE or Opening a Financial Services Company right away!

Contact Us: Aurion Business Consultants