Table of Contents
Frequently Asked Questions
What does Activity Code 6920.93 (Business Valuation Services) cover in Dubai
Activity Code 6920.93 falls within ISIC Division 69 — Legal and Accounting Activities and is classified as a professional licence. It covers the valuation of businesses, equity stakes, intangible assets, goodwill, and financial instruments.
In practice, holders of this licence produce formal valuation reports for purposes such as mergers and acquisitions, shareholder disputes, financial reporting, insolvency proceedings, and regulatory compliance. Because it is a professional activity, the licence is granted on the basis of expertise and qualifications rather than the volume trading of goods or services.
Who needs a Business Valuation Services licence in Dubai
Any individual or firm providing formal, documented valuation opinions in the UAE should hold this licence. Typical clients include M&A advisors, private equity firms, family businesses restructuring ownership, litigation support teams, and corporate tax compliance functions.
Demand has become structural rather than cyclical since UAE Corporate Tax came into effect in June 2023 under Federal Decree-Law No. 47 of 2022, and given the continued application of IFRS 3 business combination rules. Valuation reports are now routinely required for transfer pricing, mergers, and asset classification.
What is the difference between a mainland and a free zone licence for business valuation services
A mainland licence issued by the Dubai Department of Economy and Tourism (DED) allows direct contracts with UAE government entities and local corporates. It is the appropriate choice if your practice expects court-appointed valuation mandates or work with government-linked enterprises where a mainland presence is a contractual requirement.
Free zone licences offer 100% foreign ownership, faster incorporation, and lower overhead. They suit consultancy-led or cross-border valuation practices whose client base is largely private sector, regional, or international. The right choice depends on where your clients are based, whether you need UAE residency visas, and whether your work carries regulatory weight in a supervised financial environment.
How long does it take to obtain a Business Valuation Services licence in Dubai
Setup timelines vary by jurisdiction. A free zone licence typically takes 3–7 working days, while a mainland licence through the DED generally takes 2–4 weeks.
Free zones often offer remote onboarding, which can further streamline the process for newly established or overseas-based practices. Factors such as document preparation, shareholder structure, and visa applications can affect the overall timeline in either jurisdiction.
Is there a minimum share capital requirement for a Business Valuation Services licence
For most free zone setups, there is no mandatory minimum share capital requirement to obtain a Business Valuation Services licence under Activity Code 6920.93. This makes it a relatively accessible professional licence for sole practitioners and small consultancies.
Mainland requirements and those of regulated environments such as DIFC or ADGM may differ and can carry additional financial or regulatory approval requirements. It is advisable to confirm the specific capital and compliance thresholds with the relevant authority before applying.
Why is UAE Corporate Tax relevant to business valuation services
Under Federal Decree-Law No. 47 of 2022, UAE Corporate Tax came into effect in June 2023 and introduced requirements that directly generate demand for qualified valuation work. Valuation reports are required for transfer pricing documentation, mergers, and the classification of assets under the new tax framework.
Combined with the continued application of IFRS 3 business combination rules, these obligations mean that credible, documented valuation reports are now a recurring compliance requirement for many UAE businesses rather than an occasional advisory need.
Is Meydan Free Zone a suitable location for a business valuation consultancy
Meydan Free Zone accommodates Activity Code 6920.93 under its professional licence category. It permits single-shareholder structures, offers remote onboarding, and includes visa allocation within standard packages — practical features for smaller or newly established valuation practices.
There is no mandatory audit requirement for qualifying setups, and annual renewal is described as straightforward. Meydan is positioned as a lean, functional option for practices that do not require the regulated financial services wrapper offered by environments such as DIFC or ADGM.
When would a valuation firm need to set up in DIFC or ADGM rather than a standard free zone
DIFC and ADGM are regulated environments with their own legal frameworks, making them appropriate for firms that serve financial institutions, investment funds, or clients operating within those ecosystems. If your valuation opinions carry regulatory weight in a supervised financial environment, or if you hold client funds, a standard free zone licence may not be sufficient.
However, both DIFC and ADGM carry additional regulatory approval requirements and higher operating costs compared with mainstream free zones. Firms should weigh those obligations against the commercial necessity of operating within a regulated financial centre before choosing either jurisdiction.
Business Valuation Services License in Dubai
Since UAE Corporate Tax came into force in June 2023, a documented valuation is no longer something a company commissions once a decade. It is a recurring compliance item. Activity code 6920.93 is the license for producing them.
The work is opinion, formally documented. You value businesses, equity stakes, intangibles, goodwill and financial instruments, and you sign a report somebody else relies on. This guide covers what the license allows, who commissions the work, how mainland, free zone and the regulated financial centres compare, the setup steps, and the compliance that comes with holding an opinion-based license.
Key Stats at a Glance
What This License Covers
Code 6920.93 sits in ISIC Division 69, alongside accounting and auditing. It is a professional activity rather than a commercial one, which means the license is issued on expertise and qualifications rather than on trading volume.
The scope
The scope covers valuation of:
- Businesses as going concerns
- Equity stakes
- Intangible assets
- Goodwill
- Financial instruments
That turns into formal valuation reports written for five purposes: mergers and acquisitions, shareholder disputes, financial reporting, insolvency proceedings, and regulatory compliance.
Why the tax change matters
The last of those has changed the shape of this market. Since Corporate Tax took effect in June 2023, valuation reports have become routine for transfer pricing documentation, for mergers, and for valuing assets under the new framework. Add the continued application of IFRS 3 rules and demand looks structural rather than cyclical.
Who Your Clients Will Be
Five groups commission this work:
- M&A advisors
- Private equity firms
- Family businesses restructuring ownership
- Litigation support teams
- Corporate tax compliance functions
They buy for different reasons. An M&A advisor needs a number to negotiate against. A litigation team needs a report that survives challenge. A tax function needs documentation that satisfies a regulator. The technical work overlaps, but the deliverable and the risk profile do not, which lets a practice specialise without narrowing its market.
The tax compliance segment is the steadiest of the five, because it recurs on a filing cycle rather than on a transaction.
Mainland, Free Zone or Financial Centre
Three routes exist here rather than the usual two, and the third matters if your opinions carry regulatory weight.
Mainland
A mainland license from the Department of Economy and Tourism allows direct contracts with UAE government entities and local corporates. If your practice expects court-appointed valuation mandates, or work with government-linked enterprises where a mainland presence is written into the contract, that is the route.
Meydan Free Zone
Meydan Free Zone accommodates this activity under its professional license category, with single-shareholder structures, remote onboarding and visa allocation inside standard packages. There is no mandatory audit for qualifying setups and renewal is simple, which makes it a lean base for a consultancy-led or cross-border practice.
Regulated financial centres
The regulated financial centres are the third option, each with its own legal framework. They suit firms serving financial institutions or investment funds, or any practice holding client funds. They also carry extra regulatory approval and higher running costs, so weigh that against whether you actually need a supervised wrapper. Let your clients decide it, not the price.
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Step by Step Setup Guide
- Step 1, choose your jurisdiction: Mainland, a free zone, or a regulated financial centre. Confirm that code 6920.93 sits on your chosen authority's activity list before going further.
- Step 2, book your trade name: Check availability through the DET portal or your free zone authority. The name must not clash with an existing registration and has to follow UAE naming rules.
- Step 3, submit your setup documents: Passport copies, Emirates ID if you are already resident, and either a proposed business plan or a No Objection Certificate if you currently work for another UAE entity.
- Step 4, get initial approval: Mainland setups need a Memorandum of Association drafted and initial approval from DET. Free zones usually issue a license agreement directly and skip the MOA stage.
- Step 5, sort your premises: Free zones accept a flexi-desk or shared workspace. Mainland needs a physical tenancy contract registered on Ejari.
- Step 6, collect the license and apply for visas: An investor or partner visa linked to the entity comes first, and dependant visas can follow.
- Step 7, open a corporate bank account: Expect enhanced due diligence given the professional services category. Take a clear business plan, a client profile summary and evidence of your qualifications.
Have your credentials ready throughout. CFA, ASA, RICS or equivalent may be requested as part of professional license approval.
Compliance and What You Need in Place
Anti-money laundering
This is not optional and applies whatever the size of your firm. Under Federal Decree-Law No. 20 of 2018, professional service firms carry out client due diligence, keep records and report suspicious transactions. Build the process before your first engagement, because retrofitting it around live client files is painful.
Transfer pricing context
Corporate Tax brings transfer pricing documentation duties for related-party transactions. If you advise on those, you need to understand both the valuation standards and the tax compliance context your report feeds into. The report is not the end of the process for your client, it is an input.
Financial centre standards
Valuation reports used in proceedings inside a regulated financial centre have to meet that authority's evidentiary and professional standards. If your practice is likely to produce reports for use there, align your methodology documentation to that from the start rather than reworking it later.
VAT and renewal
Register for VAT once turnover passes AED 375,000. License renewal is annual.
Records
Keep and retain accounting records in line with UAE rules. For a firm whose product is a defensible opinion, records discipline is part of the professional offering rather than back-office admin.
Market Opportunity
The demand driver here is legislative, which makes it unusually predictable. Corporate Tax under Federal Decree-Law No. 47 of 2022 created recurring valuation needs across transfer pricing, mergers and asset valuation, and those duties arrive on a filing cycle rather than when a company happens to want advice.
IFRS 3 business combination rules add a second recurring layer for anyone reporting under international standards, which in the UAE covers a large share of the corporate base.
On top of that compliance floor sits transactional work. Dubai's M&A activity and foreign investment inflows generate valuations for deals, and family businesses restructuring ownership generate them for succession. Neither depends on the tax calendar, so a practice covering both compliance and transaction work has two independent sources of demand.
Conclusion
This is a professional license with demand written into legislation rather than dependent on sentiment, which is a rare position for an advisory business.
Setup is simple. Free zone routes are faster and leaner, mainland suits firms chasing government or court-linked mandates, and a regulated financial centre only makes sense if you need a supervised financial services wrapper.
Whichever you pick, get your AML process and your credentials in order early. In a business built on signed opinions, those two things are what make the opinion worth signing.
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