How to Open a Financial Services Company in Dubai?

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Dubai is a major trade, finance, and economic hub of the Middle East. There is immense potential in opening a financial services company in Dubai. There is a robust financial infrastructure in Dubai that is powering the economic growth of the region.

Opening a financial services company in Dubai is highly beneficial for investors as Dubai is the center for finance and building business. There is immense potential in the field of Financial Services in Dubai.

The technological advancements in the field of finance, the rising demand from domestic companies in Dubai, and the global connectivity and reach make Dubai the perfect hub for opening a Financial Services Company.

Scope of Financial Services Companies in Dubai

There is a wide scope for a Financial Service company in Dubai. Ranging from expense management, performance analysis, investment brokerage, and forex trading the list goes on and on.

Companies in Dubai are always looking to outsource the finance section to a professional company to reduce overall operational costs and hire finance staff.

Financial Services Company in Dubai

The financial companies in Dubai will be constantly supporting the companies with various financial services.  There is a significant impact of technology in the finance sector.

A host of automated technologies are being used in financial services companies to render the required assignments for the companies.

Where to Set Up a Financial Services Company in Dubai?

Setting up a financial services company in Dubai is a prospective business investment for foreign investors.  There are two main business jurisdictions in which the financial services company can be set up.

The Mainland of Dubai is governed by the Department of Economic Development. The Company can be registered as a Limited Liability Company in Dubai. Financial Services fall under the professional license category.

Financial Services Company in UAE

The investor can also start the financial services as a single-owner company using a professional license from the mainland.

Similarly, the investor can choose the Free Zones in Dubai for setting up their financial services company. The DIFC Free Zone is the prime choice for finance-related companies in Dubai.

There are few Free zones such as the Dubai Airport Free Zone (DAFZA), Dubai Multi Commodities Center (DMCC), etc., that offer cost effective financial services licenses in Dubai.

How to start a financial services company in Dubai?

Central Bank and Emirates Securities and Commodities Authority approval is a mandatory requirement for starting a financial services company in Dubai, UAE. 

Be it in either Mainland or Free Zone, there are certain approvals from the Government entities required for opening a financial services company in Dubai.

Here are the steps to starting a financial services company in Dubai.

  1. Choose the business jurisdiction – Free Zones or Mainland
  2. Get the Name Approval for the company and choose the business activities from the business jurisdiction.
  3. Get the necessary approvals from the Government authorities
  4. Prepare the tenancy contract, application form, share capital certificate, and business plan for submitting it to the Government Licensing Authorities
  5. Make the required fee payment and obtain the financial services license from the respective licensing authority

The Financial Services Company has a wide range of services to offer ranging from banking, investment, fund management, insurance, and more. It is critical for the investor to choose the right business activities while setting up the company.

Expert Business Consultants at AURION will guide and assist you in choosing the right business activities for the business and set up your business in a hassle-free way.

Free Zones to Choose for opening a Financial Services Company in Dubai

For an overseas investor, starting a financial Services company in any of the Dubai-based Free Trade Zones is an ideal option.

The investor can keep the overall cost low when going ahead with a Free Zone. At the same time, experience world-class business infrastructure and amenities.

1. Dubai International Financial Center (DIFC)

The Dubai International Financial Center is the top choice for starting a financial services company in Dubai. The Free Zone offers the right company formation packages and business amenities for a financial services company.

The investors will get a 3-year UAE residence visa and will be able to conduct financial services from the list of selected business activities under the trade license.

The entrepreneur can choose from Flexi-Desk, executive office, and shared office space depending on the nature of their business operations.

2. Dubai Airport Free Zone (DAFZA)

The proximity of the Dubai Airport Free Zone (DAFZA)   to the airport makes it a convenient location for foreign investors to set up a financial services company.  Also, DAFZA offers a host of business facilities and competitive Company formation packages with office space.

Financial Services in Dubai

Dubai Airport Free Zone is one of the most prestigious free zones in Dubai and offers immense business benefits for investors. The entrepreneur can get a reputed Dubai Address with office space and business license from DAFZA in less than 2 Working days.

3. Dubai Multi-Commodities Center (DMCC)

The DMCC Free Zone is one of the largest Free Trade Zones in UAE. The Free Zone offers a host of business support services, business activities, and infrastructure.

The Free Zone has office towers in the Jumeriah Lakes Towers area with various specifications as per client requirements. Also, there is a host of business activities under each of the business licenses to choose from for the investor. 

Hence, in a nutshell, there are immense choices available in Dubai to start a Financial Services Company for the investor. Depending on the shareholder requirements and budget, the right business jurisdiction in Dubai can be selected for starting the financial services company.

Connect with our expert team of Business Consultants to know more about the competitive company formation packages available for getting a Financial Consultancy License or starting a financial services company in Dubai.

Contact Us: Aurion Business Consultants

Jesseca

A Marketing Consultant working @Aurion Business Consultants specialized in writing about Business Setup in UAE tips, License Packages, Free Zones, LLC Company Formation, Startups, etc in the UAE.

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