Which format fits
A free zone with a consulting services licence is usually enough for consulting. It is an affordable format that allows the owner to obtain a visa. Mainland is needed if your clients will be local companies and government customers.
What to pay attention to
- The licence must name the exact type of services: consulting services come in different profiles.
- Regulated professions (lawyers, auditors, medicine) require a separate permit or a partner.
- It is better to contract with the client through the company rather than the individual expert.
Structure and asset protection
The company provides the services and receives payment into a corporate account. Accumulated funds and investments can be moved to a holding company so that they do not depend on client claims.
The overall logic of the structure is described on the page “Asset protection and ownership structures”.
Bank account
The bank is interested in clients and the nature of the services. Prepare an expertise profile, case studies and sample contracts. Consulting is regarded as a “paper” business, so the review may be detailed.
More: bank account opening.
Common mistakes
- A vague description of the activity in the licence
- Payment goes to personal accounts
Where to start
Tell us about your business. We will review your situation and propose a company format, a jurisdiction and an ownership structure. You can compare the options in the article “Free zone or mainland”, and costs are covered in the article “How much does it cost to open a company in Dubai”.
Regulations and licensing requirements change. Current conditions must be verified before launch. The decision to open an account is made by the bank. Tax consequences depend on your residency.