Business Consultancy refers to a professional service provided by experienced individuals or firms to assist organizations in enhancing their performance, solving problems, and achieving their objectives. Business consultants analyze various aspects of a company, such as its strategies, operations, finances, marketing, and organizational structure, to identify areas for improvement and provide expert advice and recommendations. They offer guidance on matters such as business planning, process optimization, market research, risk management, and implementation of new technologies.
The business activities that fall under Business Consultancy are:
Other activities auxiliary to financial service activities (6619.00): This activity falls under the umbrella of Business Consultancy because it involves providing specialized support and advisory services to financial institutions and individuals. These auxiliary activities play a crucial role in facilitating and enhancing financial service operations. It includes activities such as Investments consultancy, Compliance consultancy, Financial advisory and financial analysis, Financial consultancy, Economic advisory, Mortgage consultancy, and more.
This activity encompasses support services and miscellaneous activities that assist financial service providers. It includes processing and settling financial transactions, such as credit card transactions, as well as providing investment advisory services. This category also covers the activities of mortgage advisers and brokers, who offer guidance and assistance in obtaining mortgage loans. Additionally, it includes trustee, fiduciary, and custody services on a fee or contract basis, involving the safekeeping and management of assets for clients.
However, this class excludes activities like insurance agent and broker services, as well as the management of funds. Insurance agents and brokers are classified separately, while fund management falls under its own category.
- Third-party Approval (PRE): Before obtaining a license from Meydan Free Zone, it’s necessary to obtain third-party approval from the Securities and Commodities Authority.
- Filing of Economic Substance Return: Business activity 6619.00 must meet this requirement.
- Anti-Money Laundering Compliance: Business activity 6619.00 is exempt from this requirement.
