In Dubai, the world’s most extravagant celebrations can be held with ease. Whether it’s the Grand Dubai Expo, a major sporting event, or any major event, Dubai always makes everything bigger and larger than life. These facts demonstrate that the UAE city of Dubai is a promising location from which to launch a successful event management business.
It has been projected that the Dubai World Trade Center (WTC) generates roughly USD 3.3 bn in revenue for the local economy through hosting events and exhibitions. The hospitality business in the GCC maintains its growth trajectory. The events sector in this region is extremely aggressive and eager to stay up with this regional and global trend. Consequently, the event management industry in the emirate is thriving. CAGR (Compound Annual Growth Rate) estimates indicate the size of the events industry at 11.2% between 2019 and 2028, with a rise from $1.13 trillion to $1.55 trillion.
In light of this, entrepreneurs all around the world, especially those working in this field, have been exploring this region to learn more about the opportunities there. The benefits and financial paybacks of starting an event management company in Dubai, UAE have recently attracted a lot of attention.
What is an Event Management Company in the UAE?
Businesses that specialize in event management design and execute corporate events. Consultation, preparation, and research are all essential parts of a successful event management company in Dubai. The most prevalent types of events are conferences, business events, galas, athletic events, summer camps, meetings, day camps, and university activities.
The manager of the event management firm in Dubai begins planning by reserving a venue for the event. In addition, they oversee the provision of refreshments, audiovisual equipment, entertainment, tours, social events, guest accommodations, and other associated services.
How to Start an Event Management Company in Dubai, UAE?
We have already provided you with a concise and accurate explanation of the event management business in Dubai, UAE, and what it has to offer. Setting up an event management firm in Dubai, UAE can be quite lucrative, but only if the groundwork is done properly.
In Dubai, forming a business is a simple process that entails the following steps: Before submitting the final documentation, choose the type of business you want to create, then seek further approval like reference letters from embassies, banks, and regional government officials. Get in touch with an ExpressPRO business setup expert if you want to launch a company in Dubai.
We have compiled a summary of the requirements for starting an Event Management business to help you get started:
1. Select the Event and Activity Types You Will Cover
The first thing to do when starting an event management company is to describe the various functions you intend to perform. Despite the license allowing you to engage in a variety of activities, such as hospitality and event promotion, you are still required to list them.
In the event planning industry, it’s not a good idea to try to sell everything under the sun. You should take on the role of wedding organizer if you have prior experience in this field.
2. Choose Your Company Name
This is an important step since the UAE had already set a few rules about this. Pick three or four possible business names that you’d want to use moving forward. In addition, while choosing a legal name for your business, be sure to adhere to any applicable naming conventions. In addition, you can stick to standard practice by continuing to use a name that is both unique and expressive of what you do.
3. Choose the Right Jurisdiction
Where do you wish to build your event management business? It is possible to launch a successful event management business in either the Mainland or the Free Zones of Dubai, United Arab Emirates. Your firm can be registered in either of these if you like.
Foreign investors and business owners can take use of several perks provided by the Free Zones, including office space, tax breaks, and access to a network of experts. Establishing an event management firm in a Free Zone is the simplest and least expensive option.
Mainland Business Setup
It falls under “Professional Services” and gives the individual full ownership of the license. Without the need for a local sponsor, establishments on the mainland can interact directly with local markets. They are permitted to host events anywhere in the UAE.
Free Zone Business Setup
Many UAE-based event management businesses have set up companies in one of the many Free Zones located throughout the country, such as Dubai World, Dubai South, the Dubai Creative Cluster, or Fujairah Creative City. A person may host as many events as he desires, but he must describe his commercial activities while applying for a license
4. Apply for an Event Management License
After completing the preceding stages, you may apply for an event management license. The Dubai Department of Economic Development (DED) is responsible for the event management license. The application form, supporting documentation, and two passport-sized color photos must all be submitted. If you want to keep your event management license active, you’ll need to renew it periodically. Your company faces severe consequences if this requirement is not met.
5. Apply for Your Visas and Corporate Bank Account
In addition to applying for a business license, further steps include requesting a visa and opening a corporate bank account. You can sponsor your family members for visas if you already have one. This includes your immediate family and household staff.
The ability to apply for work visas for staff is another perk of having a license to organize events. Visas for this purpose are limited and their availability is proportional to the size of your business.
Getting a corporate bank account set up might be difficult. Contact our expert team at ExpressPRO so we can assist you in selecting the solution that best meets your business’s requirements.
Important Documents Needed to Form an Event Management Company in Dubai, UAE
To set up an event management firm in Dubai Mainland or Dubai Free Zone, you’ll need the following documents:
- Copy of passport of the owner and all business partners
- Two-color passport-size photographs
- 3 trade name options, at least
- Office space for Mainland licensing
- NOC from the current sponsor, if applicable.
Great Factors to Start an Event Management Firm in Dubai
Affordable Start-up Costs
Many promising new businesses can be found in the event management sector. You can hire temporary workers as needed and avoid renting office space right away.
Unlimited Potential for Profit
There is always something fascinating occurring in Dubai, regardless of the season. Investors from all over the world are flocking to the region to establish businesses because of the high rate of success seen by new entrepreneurs there.
Because of its location, Dubai is considered a prime economic hub for the entire Middle East. The location is ideal for transcontinental trade due to its proximity to various significant commercial hubs.
Low Probability of Risk
The scope and size of an event management firm can vary widely, from temporary startups to multinational conglomerates. Startup entrepreneurs can also launch a business with low financial resources.
Having a steady stream of satisfied customers is crucial to the survival of any company. Customers that are pleased with your services are more likely to recommend you to others and use your services again.
Event management is a field where you may expect a constantly increasing growth rate. There is a need for skilled event planners in Dubai due to the city’s high volume of high-profile gatherings. And achieve such a high level of success will require an extraordinary amount of collaboration and coordination among all parties concerned.
There is a plethora of Visa Options
Dubai’s appeal stems in large part from the region’s flexible visa policies. Startup owners can get their visas fast and easily and can apply for more if their firms grow.
Whether you choose to incorporate your event management business in a Free Zone or on the Mainland, you can have several shareholders.
Things to Remember After Getting Your Event Management License in Dubai, UAE
- You are responsible for the full refund of your ticket purchase in the case that the event is canceled.
- Outside of Free Zones, relevant authorities must be consulted before selling or promoting tickets to an event (DED, DTCM, and DM).
- Ticket promotion and sales outside of the UAE are subject to the laws, rules, and regulations of the relevant Emirate.
- All relevant public information must be prominently displayed on tickets, posters, pamphlets, and other forms of advertising.
Get Your Event Management License with ExpressPRO
Due to the UAE’s business-friendly legal framework, opening an Event Management Company and obtaining the necessary events management license in Dubai is a relatively straightforward process. There is still a lot of work involved in getting a business license and setting up operations. Having ExpressPRO on your side will prevent any unneeded setbacks, such as delays or rejections, and will make the process run smoothly.
Simply giving us some basic documents and information about the nature of your firm and business activities will allow ExpressPRO professionals to get started. Then, relax and allow our team to do the rest. We will manage your event management company’s license and visa applications, contact all applicable local departments and authorities, and notify you when you are ready to conduct business. It is indeed that simple.