Our Main Services
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- Business Setup
- Mainland Company Setup
- Free Zone Company Setup
- Offshore Company Setup
- Feasibility Studies
- Customs
- WPS Payroll Setup
- Immigration & Visa / PRO
- Bank Account Opening Assistance
- Financial Engineering
- Financial Restructuring
- Financial Reporting
- Financial Planning
- Corporate Tax and VAT Registration
- Cash Flow and Liquidity Management
- Financial Policies and Procedures
- Accounting & Bookkeeping
- Assistance with ad hoc regulatory requests
- Due Diligence
- Drafting policies, manuals, and procedures required for licence applications
It is a process designed to provide reasonable assurance that an organization’s operations are effective and efficient, its financial disclosures are reliable, and it meets regulatory compliance objectives.
- Risk Identification
- Risk Analysis
- Risk Evaluation/ Assessment
- Risk Treatment
- Monitoring & Review
The UAE is considered one of the most attractive investment destinations in the world. It provides an ideal business environment for investors and entrepreneurs with excellent infrastructure facilities, exceptional human resources, and services, as well as an emphasis on smart government.
- Assisting Talent Acquisition and Training.
- Organizational Development.
- Performance Management and Evaluation.
- Compensation & Benefits.
- Personnel & HR Policies & Procedures.
- Customized visual theme design.
- Content creation and management.
- Core Pages programming and development
- Hosting, Installation, deployment, configuration, and customization.
- SEO, Google Analytics, and Google Search Console.
Company Formation
Business Setup
Dubai is one of the most prosperous cities in the world right now. However, starting a business anywhere is a very tough act. This becomes more troublesome when you are in Dubai. This is because there is high competition. But if you do and perform all the necessary things required to develop your business setup in Dubai properly, you are guaranteed to get a proper boost to your business in no time.
Mainland Company Setup
Setting up a Mainland company in UAE is not simple unless you have an expert to guide you through all the dos and dont’s. Prospector professional experts will drive through the complete process along with the required documentation to set up a Dubai Mainland company. We help our clients to establish their Dubai Mainland business step by step. First of all, you have to register the name of your company.
Market & Feasibility Studies
Prospector offers Market & Financial Feasibility Study services to local and international companies and brands that are seeking to either enter or expand in the Dubai, UAE, Gulf region, or Europe.
Our Feasibility Studies services are tailored to specific needs of clients and are prepared by a an experienced team of feasibility study consultants in Dubai. We assess:
- Market Entry Strategies
- Business Modelling
- Economic Outlook
- Market Outlook
- Consumer Behavior (Needs & Demands)
- Supply Chain & Distribution Strategies
- Financial Projections
- Business & Marketing Strategies
Immigration & Visa / PRO
Obtaining UAE Residency Visa – Except for UAE and GCC national citizens, other nationalities must obtain a UAE residence visa to legally Live / Work in Dubai and other emirates.
For many employed expats, the company that employs them will sponsor them for a UAE residence visa OR you can setup your own company (Free zone or a Local LLC company) and get the residency visa based on being the owner of your company.
A residence visa is also mandatory to obtain a driving license, register a car, apply for a PO Box, to Buy a property, open a bank account in the UAE and so on.
Offshore Company Setup
An offshore company is generally formed with an intention of operating outside of its registered jurisdiction and the location of its ultimate ownership.
There are three principal jurisdictions offering Offshore Companies in the UAE: Ras Al Khaimah (RAK), the Jebel Ali Free Zone (JAFZA), and Ajman. All are “tax free” jurisdictions that levy no income tax or corporate tax and permit 100% foreign ownership. The UAE has Double Tax Treaty agreements with over 40 other countries.
Freezone Company Setup
Freezone company is registered with specific free zone area in each emirate of UAE. With Prospector , you will set up your Free zone business in UAE faster and in the most convenient manner with 100% foreign ownership and no tax liability.
Customs
You are willing to start a business in UAE. You must know about the UAE Customs Laws. There are many items that are prohibited under this law. You need to get registered first by Dubai Customs and then you will be able to activate trade business.
WPS Payroll Setup
Registered with The Ministry of Human Resources & Emiratization (“MOHRE”), your company needs to be in compliance with the Wages Protection System (“WPS”), to make monthly salary payments to the personnel, through a hassle-free process, our team will assist you to register your organization for WPS system.
Bank Account Opening Assistance
We offer hassle-free assistance and services related to corporate bank account opening assistance in the UAE. We have partnered with reliable local banks in the UAE to facilitate you in setting up your corporate bank account.
Financial Services
Mergers & Acquisitions:
Prospector Consultancy offers a comprehensive range of mergers and acquisition services tailored for clients in the financial services industry. Some examples of these services include:
- Strategic Advisory:
– Advising clients on potential acquisition targets or prospective buyers in acquisition transactions.
– Negotiating engagement letters with investment bankers and third-party appraisers.
– Counseling companies on strategic options to optimize their approach to mergers & acquisitions. - Pre-Transaction Agreements:
– Negotiating and drafting agreements preceding definitive acquisition agreements such as crafting confidentiality agreements, letters of intent, exclusivity agreements, and standstill agreements. - Definitive Agreements:
– Negotiating and drafting comprehensive merger, stock, and asset purchase agreements.
– Preparing ancillary documentation, including voting agreements, employment agreements, non-competing agreements, escrow arrangements, and other closing documents. - Real Estate Transfer:
– Facilitating the transfer of real estate in connection with acquisitions and divestitures.
– Providing services such as title opinions and insurance to ensure a smooth transition. - Post-Closing Transition:
– Assisting clients with post-closing transitional matters.
– Negotiating amendments to vendor contracts and leases to align with the new business structure.
– Advising on issues like successor liability and managing disbursements under escrow agreements.
Cash Flow and Liquidity Management
Prospector Consultancy offers comprehensive cash and liquidity management solutions designed to support corporate organizations and SMEs in optimizing their financial infrastructure. Our services encompass:
- Transaction Review and Cost Reduction:
– Thoroughly reviewing business transactions to identify opportunities for cost reduction.
– Focusing on streamlining processes to enhance efficiency and align with sales targets. - Financial Coordination with Institutions:
– Collaborating with financial institutions to secure short-term business loans tailored to your specific needs.
– Ensuring a seamless process to meet immediate financial requirements and support ongoing operations. - Accuracy and Informed Decision-Making:
– Providing a high degree of accuracy in financial management processes.
– Furnishing businesses with the information needed for well-informed decision-making. - Intraday Liquidity Reporting:
– Meeting intraday liquidity reporting requirements effectively.
– Implementing solutions that enhance visibility into liquidity positions throughout the business day.
Our objective is to empower businesses with efficient cash and liquidity management, facilitating financial stability and supporting strategic objectives. The collaboration with financial institutions ensures agility in meeting short-term financial needs, contributing to overall business resilience.
Financial Reporting
We provide comprehensive services to establish robust financial reporting systems for businesses, enabling informed and strategic decision-making. Our financial reporting encompasses a range of critical elements, including:
- Balance Sheet: Presenting a snapshot of the company’s financial position at a specific point in time.
- Profit and Loss Account: Detailing the company’s revenues, costs, and expenses over a specific period.
- Expenses Analysis: Breaking down and analyzing various expenses to identify cost drivers and areas for optimization.
- Revenue Analysis: Evaluating and dissecting revenue streams to understand their contributions and trends.
- Debtors Aging Analysis: Assessing the aging of accounts receivable to manage cash flows and credit policies effectively.
- Creditors Aging Analysis: Analyzing the aging of accounts payable to optimize payment strategies and strengthen vendor relationships.
- Liquidity Position: Providing insights into the company’s ability to meet short-term obligations and manage liquidity effectively.
- Cash Flow Projections: Offering forward-looking projections to anticipate cash inflows and outflows.
- Variance Analysis: Identifying and explaining variations between planned and actual financial outcomes.
- Customized Management Reports: Tailoring reports to specific management needs, ensuring relevant and actionable insights.
Our commitment is to deliver comprehensive and customized financial reporting that empowers businesses to make sound, data-driven decisions and achieve financial success.
Financial Planning
Financial Planning is the systematic process of estimating the required capital and formulating strategies for its allocation. It involves crafting financial policies related to the acquisition, investment, and management of funds within an enterprise.
At Prospector Consultancy, we offer expert assistance in the following aspects of Financial Planning:
- Determining Capital Requirements: Conducting a thorough analysis to assess the capital needed for current and future business operations.
- Determining Capital Structure: Advising on the optimal mix of debt and equity to achieve a balanced and efficient capital structure.
- Framing Financial Policies: Developing strategic financial policies that align with the goals and objectives of the enterprise.
- Resource Optimization: Ensuring the maximization of scarce financial resources by deploying them in the most effective and efficient manner.
Our goal is to collaborate with businesses, providing insightful guidance in Financial Planning to optimize capital utilization and foster sustainable financial growth.
Financial Restructuring
Utilizing a meticulous analysis of the financial position, we offer comprehensive financial restructuring solutions to our clients. Our services include:
- Loan Restructuring:
– Negotiating with financial institutions to restructure existing loan agreements.
– Crafting solutions that align with the financial indicators and available market resources. - Capital Advisory:
– Advising on the issuance of additional capital requirements to fortify financial stability.
– Evaluating the most suitable strategies to optimize capital structure. - Shareholder/Partner Introductions:
– Facilitating the introduction of new shareholders or partners into the business.
– Ensuring strategic alignment and compatibility with the overall business objectives. - Asset Optimization:
– Recommending strategies for the reduction of existing assets based on financial indicators.
– Aligning asset portfolios with market conditions and optimizing resource allocation.
Our goal is to provide tailored financial restructuring solutions that enhance the financial resilience and stability of our clients, fostering sustainable growth in dynamic market environments.
Corporate Tax and VAT Registration
We provide comprehensive assistance and support for the registration of your company for Corporate Tax and Value Added Tax (VAT). Our services include:
- Corporate Tax and VAT Registration: Assisting in the seamless registration of your company for Corporate Tax and VAT.
- VAT Account Setup in FTA Portal: Guiding and supporting the setup of your VAT account in the Federal Tax Authority (FTA) portal for compliance.
- Corporate Tax and VAT Return Filing: Managing the preparation and filing of corporate tax and VAT returns on behalf of your company.
- Transaction Recording System: Developing and implementing a system to record transactions in alignment with VAT and corporate tax laws.
Our goal is to simplify the regulatory processes associated with Corporate Tax and VAT, ensuring compliance while allowing your company to focus on core business activities. Our expertise enables a convenient and streamlined approach to corporate tax and VAT-related matters, promoting adherence to legal requirements and financial transparency.
Financial Policies and Procedures
In addition to our services, we offer expertise in developing tailored financial policies and procedures aligned with the specific business requirements of our customers. These financial policies play a crucial role in enhancing internal controls and providing management with a clear understanding of the company’s objectives. Our offerings include:
- Customized Financial Policies: Developing financial policies tailored to the unique needs and goals of your business.
- Internal Control Strengthening: Implementing policies that strengthen internal controls, safeguard assets, and ensure compliance.
- Objective Comprehension:
Facilitating management to comprehend with the company’s objectives through clearly defined financial policies.
Our commitment is to assist businesses in establishing robust financial frameworks that not only comply with regulatory standards but also contribute to operational efficiency and strategic alignment. By tailoring financial policies to specific business requirements, we aim to empower organizations to navigate their financial landscape with clarity and confidence.
Accounting & Bookkeeping
Whether you’re a newly established company or already have an existing establishment, we provide an extensive array of accounting and bookkeeping services. Our offerings encompass:
- Accounting Function Setup: Assisting in the establishment of accounting functions, from selecting suitable accounting software to configuration.
- Daily Business Transactions Recording: Managing to record the daily business transactions accurately and efficiently.
- Generation of Customized Management Reports: Producing customized management reports, including Profit and loss accounts, Balance sheets, expenses review analysis, sales review analysis, and cash flow projections.
- Adherence to International Financial Reporting Standards (IFRS): Ensuring that all financial reporting aligns with the international standards set by IFRS.
Our aim is to provide comprehensive support throughout the accounting and bookkeeping process, from setup to reporting, by facilitating businesses in maintaining accurate financial records in compliance with international financial reporting standards IFRS. Whether you are in the initial stages of establishment or have an established business, our services are tailored to meet your specific accounting needs.
Compliance & AML/CFT
Due Diligence
Compliance due diligence is the process of conducting a thorough investigation, audit, or analysis of a company’s compliance with regulatory bodies, both governmental and non-governmental. It essentially seeks to establish whether a company is following the rules.
Issues which are now commonly analysed by compliance due diligence include:
- Anti-corruption laws.
- Environmental laws.
- Data protection laws.
- Antitrust laws.
- Trade regulations.
- Employee safety regulations.
- Product (or ingredient) safety regulations.
Compliance becomes more important to companies every day, reflected by compliance costs, which have risen far in excess of the average company’s revenue over the past decade. As always, good documentation is key.
Prospector help your business manages its compliance documents, ensuring that they’re secure and up to date.
Assistance with ad hoc regulatory requests
Sometimes your company would face regulatory requirements demanding immediate action for an effective solution. This might arise a as a result of:
- Feedback request or thematic review by the regulator.
- Tight deadlines around regulatory reporting.
- Specific request for information.
- Cases around ALM/CFT about which the MLROs and their team do not possess the required technical expertise.
Prospector will provide you with assistance on any specific request from the regulator or other parties around AML/CFT. Below are some specific examples where our team has responded to requests of these type:
- Assistance in drafting replies to regulator(s).
- Assistance with selecting remote onboarding tool.
- Compilation of CDD information for a particular supplier.
- Designing an internal procedure following a specific request by a counterparty.
Internal Control & Governance
It is a process designed to provide reasonable assurance that an organization’s operations are effective and efficient, its financial disclosures are reliable, and it meets regulatory compliance objectives.
An internal control (also sometimes known as an internal safeguard) can be any mechanism that helps a company to run its processes efficiently and effectively: a rule, a policy, a procedure, a statement from management, and more.
Modern companies operate in a risky business environment. Some adverse events are unavoidable, and some can be evaded to reduce their threat. To mitigate risks and avoid or minimize loss, companies develop internal control systems. To make this system effective, it should involve or cover the following:
- Policies and procedures, including organizational structure, job descriptions, and an authorization matrix.
- Segregation of duties and responsibilities.
- Authorization and approval processes.
- Performance monitoring and control procedures.
- Methods for safeguarding assets, completeness, and accuracy.
- Manpower management.
- An independent internal audit function.
- Regulatory compliance and risk management.
Corporate governance is the system of rules, practices, and processes by which a firm is directed and controlled. Corporate governance essentially involves balancing the interests of a company’s many stakeholders, such as shareholders, senior management executives, customers, suppliers, financiers, the government, and the community.
Since corporate governance provides the framework for attaining a company’s objectives, it encompasses practically every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure.
We can work with you to develop or review your internal control systems and corporate governance framework.
Risk Management
While business risks abound and their consequences can be destructive, there are ways and means to ensure against them, to prevent them, and to minimize their damage, if and when they occur. Therefore, hiring a risk management consultant may be a worthwhile step in the prevention and management of risks and enforce procedures to mitigate the worst possible risks. An effective risk management strategy seeks to find a balance between protecting the company from potential risks without hindering growth.
Risk Identification
Risk identification is the process of documenting any risks and vulnerabilities and raising awareness of these risks in the organization that could keep it from reaching its objective. It’s the first step in the risk management process, which is designed to help companies understand and plan for potential risks.
Risk Analysis
Risk analysis is the process of identifying risk, understanding uncertainty, quantifying the uncertainty, running models, analysing results, and devising a plan. Risk analysis may be qualitative or quantitative, and there are different types of risk analysis for various situations.
Risk analysis is important because it guides company decision-making. It is also important because it can help safeguard company assets. Whether it be proprietary data, physical goods, or the well-being of employees, risk is present everywhere. Companies must be mindful of where it most likely to occur as well as where it is most likely to have strong, negative implications.
Risk Evaluation/ Assessment
Risk assessment is a general term used across many industries to determine the likelihood of loss on an asset, loan, or investment. Assessing risk is essential for determining how worthwhile a specific investment is and the best process(es) to mitigate risk. It presents the upside reward compared to the risk profile. Risk assessment is important in order to determine the rate of return an investor would need to earn to deem an investment worth the potential risk.
Risk Treatment
Risk Treatment is the process of selecting and implementing of measures to modify risk. Risk treatment measures can include avoiding, reducing, transferring or retaining risk.
- Avoidance: Obviously one of the easiest ways to mitigate risk is to put a stop to any activities that might put your business in jeopardy. However, it’s important to remember that with nothing ventured comes nothing gained, and therefore this is often not a realistic option for many businesses.
- Reduction: Taking the steps required to minimise the potential that an incident will occur. Risk reduction strategies need to be weighed up in terms of their potential return on investment. If the cost of risk reduction outweighs the potential cost of an incident occurring, you will need to decide whether it is really worthwhile.
- Transfer: One of the best methods of risk management is transferring that risk to another party. An example of this would be purchasing comprehensive business insurance. Risk transfer is a realistic approach to risk management as it accepts that sometimes incidents do occur yet ensures that your business will be prepared to cope with the impact of that eventuality.
- Acceptance: It involves ‘taking it on the chin’, so to speak, and weathering the impact of an event. This option is often chosen by those who consider the cost of risk transfer or reduction to be excessive or unnecessary. Risk acceptance is a dangerous strategy as your business runs the risk of underestimating potential losses, and therefore will be particularly vulnerable in the event that an incident occurs.
Monitoring & Review
Monitoring and review should be a planned part of the risk management process and involve regular checking or surveillance. The results should be recorded and reported externally and internally, as appropriate. The results should also be an input to the review and continuous improvement of the firm’s risk management framework.
Responsibilities for monitoring and review should be clearly defined. The firm’s monitoring and review processes should encompass all aspects of the risk management process for the purposes of:
- Ensuring that controls are effective and efficient in both design and operation.
- Obtaining further information to improve risk assessment.
- Analysing and learning lessons from risk events, including near-misses, changes, trends, successes, and failures.
- Detecting changes in the external and internal context, including changes to risk criteria and to the risks, which may require revision of risk treatments and priorities.
- Identifying emerging risks.
Investment Opportunities
The UAE is considered one of the most attractive investment destinations in the world. It provides an ideal business environment for investors and entrepreneurs with excellent infrastructure facilities, exceptional human resources, and services, as well as an emphasis on smart government.
Every investor has different goals. The key to success is choosing products that suit your individual needs.
All investors understand the importance of diversification – that you need to spread your bets rather than holding all your eggs in one basket. But how do you diversify effectively, given your individual needs and circumstances, which are bound to be very different to those of other investors?
Prospector will help you tailor your portfolio to find the perfect fit!
HR Management
HR plays a pivotal role in shaping the culture of an organization, with aspects such as pay, performance management, training, recruitment, and onboarding falling under its purview. For startup companies, these elements are crucial for establishing a strong business culture.
Prospector team specializes in supporting startups with their HR needs, managing key aspects such as:
Assisting Talent Acquisition and Training
Talent acquisition involves strategic processes for identifying, recruiting, and retaining the human resources a company needs. Our comprehensive approach includes developing, implementing, and evaluating programs for sourcing, recruiting, hiring, and orienting talent. We also specialize in designing and conducting effective training programs to empower your workforce
Organizational Development
It entails strategic changes and enhancements to HR processes and structures, covering key areas such as performance management, talent management, diversity, and employee wellness. Our approach focuses on optimizing systems for improved HR efficiency and organizational success
Performance Management and Evaluation
Discover the power of HR Performance Management and Evaluation systems, providing managers with the tools to seamlessly track and assess the performance of individual employees, departments, and the entire organization. Elevate your workforce’s productivity with our cutting-edge solutions tailored for efficient performance monitoring.
Compensation & Benefits
Elevate your workplace with our specialized service in creating customized Compensation and benefits systems. We will craft customized solutions for your company not only to attract and retain top talent but also to motivate your workforce, ensuring enduring success for your organization
HR Personnel and Policies & Procedures
Enhance your HR capabilities with our Personnel Service, ensuring the seamless administration of your workforce. Moreover, our HR Policies and Procedures Setup service establishes a robust foundation, delivering clarity, compliance, and efficiency to drive your organizational success. Let us empower your HR processes for a flourishing workplace.
Marketing
In the dynamic and ever-evolving business landscape, effective marketing serves as the linchpin for startups and established companies alike. It plays a crucial role in creating brand awareness, driving profit and growth, acquiring and retaining customers, and enhancing engagement.
Furthermore, a well-crafted marketing strategy, an integral component of your business plan, assumes a pivotal role in creating and sustaining demand, relevance, reputation, and a competitive edge.
Whether you’re a business owner or a professional, Prospector specializes in strategic positioning and penetration through a comprehensive suite of services:
- Market Research & Strategic Planning: We craft tailored marketing strategies meticulously aligned with your unique business goals, derived from comprehensive market research.
- Brand Creation & Development: Elevate your brand identity to forge lasting connections with your audience.
- Digital Marketing Campaigns: Navigate the digital landscape with expertise in SEO, social media, and online visibility.
- Content Creation: Create compelling content that captivates and establishes industry authority.
- Data-Driven Decision Making: Utilize analytics for insightful decision-making and measurable results.
- Campaign Management: Design and execute impactful marketing campaigns for enhanced ROI.
Commercial Office
One of our areas of expertise is commercial. With dedicated brokers handling specifically this aspect of the market, they are all well versed in pricing, fittings, furnishings and locations. We partner with multiple fit out companies to get our client the maximum fit out, for the best pricing. We also have years of experience in warehousing, labour camps and staff accommodation.
Buy & Rent
Is it better to rent or own commercial property? We help you decide what to do and find premises tailored to your needs and area of business.
Virtual Office
A virtual office is a service that enables employees and business owners to work remotely by providing a range of business functions accessible through the internet. It also enables organisations to create and maintain a presence in a desirable location without the need to pay rent for an actual space.
Warehouse
A warehouse is a building that stores products for packing and shipping preparation. They’re often centrally located to customers, employees, suppliers, and/or vendors, and manage both inbound and outbound products.
We help you choose the right warehouse to meet your business needs can take time, research, and resources.
Here are the factors we consider when helping you select a warehouse:
- Location.
- Layout and storage capabilities.
- Special features (specific number of dock doors and levellers, fire suppression systems, refrigeration or air conditioning, power requirements, and floor loading capabilities)
- Technology equipment tailored to your business (if any).
- Flexibility to expand and meet your business’s future logistics needs.
- Strength of the Landlord which has a significant impact on the success of your organization’s supply chain. We make sure that he/she is well capitalized, responsive, and properly manages and maintains the building.
Website Design & Development
Unlock seamless business growth with our Website Design and development services. Our team of experts and strategic partners excel in crafting impactful digital platforms. Our services encompass:
- Customized Visual Themes: Tailoring visually appealing themes that align with your brand identity and user experience goals.
- Content Management: Implementing robust content management systems for easy updates and maintenance.
- Core Pages Programming: Developing core pages with precision, ensuring functionality and user engagement.
- Comprehensive Hosting Solutions: Providing end-to-end hosting solutions to ensure optimal website performance and reliability.
- Search Engine Optimization (SEO): Optimizing your website to enhance visibility on search engines and drive organic traffic.
- Customer Satisfaction: Prioritizing user experience to ensure high levels of customer satisfaction and engagement.
Mobile - Responsiveness: Ensuring your website functions seamlessly across various devices, enhancing accessibility.
- Consistent Branding: Incorporating consistent branding elements to reinforce your brand identity.
- Improved Sales: Focusing on features and strategies that contribute to improved sales and conversion rates.
Our commitment is to elevate your online presence, aligning with your business goals and ensuring a positive impact on your target audience. Experience the benefits of a well-designed and strategically developed website that contributes to business success.
IT Solutions:
Discover robust IT solutions through our Cyber Security and Payment Gateway Setup services.
Cyber Security Solutions:
– Leveraging cutting-edge tools and services to safeguard organizations from cyber threats.
– Ensuring protection against downtime, data theft, and reputational damage.
– Partnering with trusted allies to implement top-notch application security processes.
– Enabling continuous threat remediation for a secure digital environment.
Payment Gateway Setup:
– Streamlining financial transactions with our Payment Gateway Setup support.
– Establishing a secure link between your corporate bank account and online payment gateway.
– Facilitating hassle-free digital payments for your organization.
Our commitment is to provide comprehensive IT solutions that enhance security, streamline financial processes, and contribute to the overall efficiency of your organization. Whether it’s protecting against cyber threats or ensuring secure online transactions, our services are designed to meet the evolving needs of modern businesses.