How to Start a Project Management Consultancy Business in Dubai?
Project Management Consultancy Business in Dubai
Do you know that Dubai is the ideal location for starting a project management consultancy company? We are sure that you might be wondering why it is an excellent location for this business.
You might be surprised to learn that the United Arab Emirates (UAE) is popular for completing tens of thousands of projects, including Dubai Mall, Burj Khalifa, and more, making it a perfect place to start your Project Management consultancy business. Apart from this benefit, you can enjoy other uncountable advantages by starting your Project Management Company in Dubai.
Are you planning to start your project Management Company in Dubai? No worries and keep reading this article. Here, we will discuss essential information to begin the Project Management Consultancy Business in the UAE. In addition, we will tell you the steps to start this business in this Emirate.
Benefits to Start a Project Management Consultancy Business in Dubai
As mentioned before, you can enjoy countless advantages of beginning a Project consulting business in Dubai. The following are the top benefits that you can obtain by starting your project management consultancy business in this city:
➦ Booming construction sector
You might be aware of the fact Dubai is popular for its constant development and construction projects. The demand for Project Management Consultancy Business is booming because of the presence of new infrastructure, real-estate ventures, and significant events happening regularly in the city.
➦ Thriving economy
Dubai has a thriving economy with almost 20,000 new businesses starting each year. This fact can be beneficial for you because it creates a demand for expert advice on project management for both significant and small corporations.
➦ Wider business scope
With the help of a project management license, you can work on numerous types of projects. From small tasks like managing a website to significant ones like developing a skyscraper, you can manage projects according to your preferences and expertise. In addition, you can engage in activities like giving IT solutions and marketing by starting this business in Dubai.
➦ Complete ownership
By starting your Project Management Company in Dubai, you can enjoy 100% ownership with no worry about foreign ownership. Therefore, this fact gives you complete control over your business activities. In addition, it allows you to make the best decision for your company’s future.
➦ No address required
You are not required to have an office address in the initial year to conduct business activities of your project management consultancy business. While the application for many licenses requires you to have an office space plus Ejari (property lease agreement), you can operate this business without a physical office space.
Documents required to start the Project Management Consultancy Business in Dubai
Before you move forward to the main process of setting up a Project Management Consultancy Business in Dubai, you should collect a few documents to verify your business in this emirate. The following is the list of required documents that you should gather for starting this business:
- Memorandum of Association (MOA) for the business
- No Objection Certificate (NOC) from the current sponsor (for residents)
- Detailed business plan
- Passport copies of the shareholders
- Application form and company registration documents
What are the steps to start your Project Management Consultancy Company in Dubai?
So, let us break down the steps you need to follow to start your Project Management Consultancy Business in Dubai:
1. Create a business plan
Initially, you should construct a thorough business plan, including the company’s goal, service provided, operational plans, and more, for your Project Management Consultancy Business. Your properly planned business plan will help you set your business apart.
2. Choose a business structure.
Next, you should select a reliable business structure for your Project Management Consultancy Business because it is essential to set up this business in Dubai. Remember, you should choose the business structure carefully as every legal form includes specifications and ramifications related to tax liabilities or ownership. Here, we recommend you contact Flyingcolour Business Setup Service because we can help you choose the perfect legal form or business structure for your company.
3. Register your company name.
After choosing a reliable business structure for your Project Management Consultancy Business, you should select a unique and attractive name for your business. Remember, the United Arab Emirates (UAE) has strict policies for naming companies. Therefore, you should name your company carefully.
Remember, you should avoid offensive or blasphemous elements in your company name. In addition, you should prefer a unique name that is not held by a famous organization. Moreover, if you plan to use your name for your company, you should use your full name, instead of the abbreviated version. In short, you should pick your consultancy business name as per the UAE naming regulation.
4. Obtain the project management license
After choosing an attractive and unique business name for your Project Management Consultancy Business in Dubai, you should apply for the project management license. If you are setting up your business in Mainland Dubai, you should apply for a license in the Department of Economic Development (DED). In contrast, you should apply to the relevant free zone authority if you are setting up your business in one of Dubai’s Free Zone.
To prevent delays and problems, you should seek help from Flyingcolour Business Setup to make your application accurate and error-free. Our experts can handle this step to ensure you get the license to Start a Project Management Business in Dubai.
5. Open a bank account
Next, you should open a bank account for your Project Management Business in Dubai. Remember, you should select a bank account that matches your business needs and requirements.
6. Apply for your visa
Lastly, you should apply for a visa to relocate yourself to start the operation of your Project Management Business in Dubai. With the help of a Project Management license, you can also sponsor your spouse, children, and more.
How can Flyingcolour Business Setup help you?
From preparing a business plan to applying for a visa, you need expert guidance to avoid any problems to start your Project Management Business in Dubai. Flyingcolour Business Setup has a team of experts who can give you essential advice to start this business in Dubai.
To learn more about Starting Project Management Consultancy Business in Dubai, book a free consultation with one of the Flyingcolour team advisors.
Please note that this article was published on 18/05/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant.
