Dubai has developed into a key trading hub in the Middle East. Many of the global players are headquarters and operate a business in Dubai. As for its location attributes, Dubai presents itself as a great business destination for global travelers. If you are interested to conduct your consulting business and want to know the things how to get a financial consultant license in Dubai, then don’t worry this blog will surely guide you, and make your obtaining license process trouble-free.
In Dubai, a financial consultancy license provides a broad range of services to businesses ranging from small firms to global firms. This involves budgeting, debt management, fundraising, and financial advisory services. Financial advisors assist in planning precise business strategies. Financial consultants are a crucial component of the business.
To obtain a financial advisor license in Dubai needs certification and special approval from the SCA (Security Commodity Authority). The consultancy companies will also have to follow the laws and regulations of the DED (Department of Economic Development), Ministry of Economy, etc. the company will commence its activities of the business after obtaining a suitable license from the SCA.
Financial consultant license in Dubai
Financial consultancy and analysis
Activity code: 671901
Activity Group: exchange and financial services
License Type: Professional
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Activity Description: Financial advisor license in Dubai providing to the clients or the public recommendations based on studies as well as on economic and financial analysis as regarding feasibility studies, forecasting and predicting current and future values of the commodity prices and contracts, it involves the financial analysis which depends on a systemic assessment of the financial statements to evaluate the past, the current and to forecast the future performance of the companies, also, assessing securities and commodities and their contracts, price trends, transactions volumes, to enable making decisions.
Advantages of Setting Up a Financial Consultancy in Dubai
When it comes to business and personal finances, many people have unresolved issues and ask questions they don’t know the answer to. Here, a financial consultancy in Dubai can be of great importance, whether we talk about personal or business matters.
An experienced financial consultancy can help you develop a plan that suits your financial objectives and that generates high returns with little risk. Also, a financial consultancy is always available for consultation even after the project is over.
What Are the Activities That Are Allowed Under This License?
The following activities allow under this license are:
- The company may carry the financial statements as well as performance analysis.
- The companies can go for market research, price trends, analysis as well as future forecasts.
- Companies can arrange feasibility studies.
- The companies under this kind of license can operate consulting on securities, commodities as well as related contracts too.
- The component of investment portfolio modeling is also allowed to these companies.
- The companies are allowed in leading the services of financial advisory.
- The companies under this license can go for financial planning.
- The companies are allowed to provide investment consulting services.
What Is the Fee Structure?
There is no way to put an amount on starting a financial consulting business in the UAE without knowing the specific of the company involved.
The cost of financial consultancy analysis license in Dubai varies from company to company, and this will be based on many factors involving whether you establish as a freelancer or start a company in a free zone or the mainland, whether you take an office premises and whether you want to take on employees.
In many cases, the most effective approach is to establish in a free zone with a license package that involves the cost of your visa application and the use of business facilities and co-working space.
Documents Required For Financial Consultant License in Dubai
These all documents you required for financial consultant license in Dubai, are mention below:
- Share capital – the company has to maintain a share capital of AED 1 million
- Shareholding – A minimum of 51% share must be with the UAE national
- The company has the required qualified technical and administrative personnel to practice the business of financial consultation and financial analysis.
- The business plan is the most crucial part of the procedure, it has to be prepared in Arabic and English, the following are the very crucial factors to be considered.
- You need to fill the local service agreement form with the UAE national from a local translator and get the form certified from a public notary service.
- A legal translator seal has not required if the agreement is in Arabic.
- Make a Memorandum of Association with the sponsor.
- Mention the early fee of the sponsor in the agreement.
- All the partners have to attend the notary to sign the court agreement.
- Get approval from Municipality for the tenancy contract.
- Need to submit all the form with attestation.
- Submit passport copies of partners and NOC for expatriate partners, at any branch of the DED.
- Make a payment on the counter and receive the license; a payment voucher will be issued at the same time.
Get Financial Consultant License in Dubai With Start Any Business
Start Any Business is a leading firm in Dubai, provide you the best and wide range of services in Dubai. Our professionals have extensive experience, we manage your entire process of obtaining a license. We offer a delightful licensing experience to our clients.
If you are looking for a financial consultant license in Dubai, then contact us today, we striving your license process as easy as possible and hassle-free. Our experts went through this process many times, our experts help you on every step to obtain your license approval as soon as possible.
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