The UAE has one of the world’s largest and fastest-growing pool of entrepreneurs. At least 20,000 new businesses begin operations annually in Dubai alone. When a business community thrives at that rate, it is sure to require business support services such as legal consultancy. The strong connection between the UAE and the international market, alongside other benefits such as zero tax rate and easy incorporation process, also stand as benefits to be enjoyed. There is a massive increase in businesses in the UAE. With the ever-changing rules and regulations, there is a huge demand for legal consultancy services in Dubai. Due to its liberal business environment, taxation benefits, and world-class infrastructure, Dubai is considered a leading place for an entrepreneur starting their business.
What is a Legal Consultancy Firm?
Company consultancy is a field of practice, the main task of which is to offer advisory services to private individuals and companies in a number of fields. A legal consultant can advise individuals, companies or organisations on their legal obligations or problems. They offer legal counsel by undertaking a comprehensive investigation into the cases. They shall file the legal documentation required for the individual or association. A legal consultant shall provide their clients with all necessary legal advice and shall ensure that their clients are in good faith with the law.
As a rule, all consultancy firms (or persons working as freelance consultants) entering the market are highly specialised. It is impossible to handle these stages of activity; thus, as a rule, there are specialities in business consultancy, management consulting, IT consulting, manufacturing consulting, transportation consulting, shipping consulting, etc.
A legal consultant may have experiences in a specific field, such as taxation and real estate. Due to their skills and experience, a legal consultant may represent a business on a continuous basis. They will guarantee that no disciplinary action is brought against the corporation or organisation. They are responsible for producing and analysing legal documentation for their customers. They ensure that the corporation or entity complies with all existing laws and regulations.
How to Start Your Legal Consultancy Business in Dubai?
You will need to make two main decisions before applying for your licence to trade as a legal consultant in Dubai. This refers to the name of the organisation and the corporate setup you want. When choosing your business name, you will need to bear in mind that the UAE has a range of somewhat distinctive naming criteria.
Under the rule, the business name does not contain any insulting or blasphemous words or refer to recognised entities or businesses. If you wish to use your own name in your company name, it must be in full—no abbreviations or initials. You must also verify if your preferred business name is eligible for registration. This can be provided for you by a business set up specialist as part of the licence application process.
Now you need to pick the right setup for your company, i.e. free zone or mainland. Each setup has advantages. If you set up your company on the mainland, you are free to trade directly with the local sector without using the services of a local agent. You may also qualify for government contracts. If you set up a free zone, you can take advantage of a tax deduction of 100 per cent. UAE free zone company owners also have the total right to repatriate all accumulated money and earnings. There are still no foreign exchange caps or currency limits in place.
The Process to Get License for a Legal Consultancy Business in Dubai
There are two main steps to be set up as a legal consultancy in the UAE. The first is to apply for a business licence. This stage is reasonably straightforward with the right support. If you have decided to set up a free zone, you can apply your licence application to the appropriate management authority. If you have opted for the mainland, you can apply to the Department of Economic Growth of Dubai or the counterpart of your chosen Emirate. A legal consulting business may be set up as a branch, a sole institution and a civil corporation. There is no requirement for a local partner, but you need to appoint a local service representative. The documents needed are as follows:
For initial approval:
- Registration and licensing application form
- Reserve trade name
- Photocopy of applicant’s passport (together with visit/residency permit) along with a non-objection letter from the current sponsor if the applicant is on a residence visa
- Passport copy of the local service agent and naturalization identifications
- External approval from H.H. the Ruler’s Court – Legal Affairs
After getting the initial approval:
- Initial approval receipt
- All documents mentioned above
- Tenancy contract registration certificate certified by RERA
- Electronic Appointment contract of local service agent, issued by DED
Upon completion of the process, the client visits the respective department to:
- Submit original documents
- Take the oath (applicable to those who want to represent cases in local court)
- Receive the card
Cost of Setting Up a Legal Consultancy Firm in Dubai
Cost is also a concern when it comes to opening a legal advisory practice in Dubai. It is not always possible to make an estimation, though, as the exact costs would depend on the scale of your firm and whether you want to set up your company on the mainland or in a free zone. If you’re looking for a ballpark number, you can set up 22,000 AEDs. Connect to this the usage of the on-site coworking space and the number is raised to AED 25.000.
Start Your Legal Consultancy Firm in Dubai With Riz And Mona Consultancy
If you have the right expertise and have the right experience, starting up a legal consultancy in Dubai doesn’t have to be overly complicated. That being said, a degree of prior awareness of the method is needed. Furthermore, it is important to remember that the licencing process is only transparent if the licence application is complete at the time of request and free of errors. Many entrepreneurs face the complexity of starting up a legitimate company in Dubai. It involves a tiring process and there are some limitations on it. But consulting the right service providers will make the setup smoother and supply you with the services you need.
If you’re willing to start a legal consulting business in Dubai, Riz and Mona Consultancy will help you develop your dream company. Riz and Mona Consultancy offer business growth and related services in Dubai and around the UAE to get your business up and running. Our team of specialists will assist you with comprehensive solutions. We also support to secure business permits, company registrations, government approvals, PRO services and everything that is involved in the creation of a company in Dubai.