Do you want to get an event management license in Dubai but don’t have an idea how to do so? The article facilitates you with comprehensive detail on how to start an event management business easily.
Dubai in particular is one of the world's events capitals. There is a substantial event industry that exists in Dubai attracting investors to come forward and establish their successful and profitable businesses. The ever-evolving growth of the industry is evident alone for the events and exhibitions at the Dubai World Trade Center that would boost the economy by over USD 3.3 billion.
The projected value of Dubai's event management market was DHS165.15 million, and it is still expanding annually at a rate of more than 25%. The Middle East and its surrounding region's geopolitical, commercial, and social-cultural values are reflected in Dubai's emerging events sector.
Event Management License in Dubai
In order to establish your event management business, you will need to get an event management business license in Dubai. However, there are specific rules for business establishment, company naming, structure, commercial activities, and more that must be followed by the companies operating in the United Arab Emirates.
Here’s how you can set up an event management company in Dubai; the process is mentioned below:
1. Business Activity Framework
Outlining the different business activities your event management company will engage in would be the first step. While the license permits a range of activities, including hospitality and event marketing and promotion, you still need to define certain activities; failing to do so might result in fines.
2. Choose a Company Name
Selecting a company’s name is another important step which you should ensure as per UAE’s guidelines. The name should be not blasphemous, not registered before for another company, no abbreviations must be catchy yet simple and only full names should be used.
3. Choosing the Right Business Jurisdiction
Prior to the licensing procedure starting, it's crucial to choose the company's jurisdiction. You may establish your event management business in one of Dubai's two commercial zones, the Free Zone or the Mainland.
4. Applying for License
The licensing for event management in Dubai is handled by the Department of Economic Development (DED). You must submit a fully completed application form together with all necessary paperwork and two passport-sized, colored pictures.
5. Visa Application and Opening a Bank Account
You must create a corporate account and get the visas for you, your company partners, or any staff. Depending on the kind of license you have and the size of your company, you can apply for a maximum number of visas.
Cost of Event Management License in Dubai
The cost of starting an event management license in Dubai is around AED 15,000. However, it may vary depending on the business structure and the size of your company.
Dubai Event Management License Cost:
|Fees Details||Cost AED|
|Initial Approval Fees||120|
|Trade Name Fees||620|
|Tasheel Local Service Agent fees||350|
|Tasheel Preapproval Fees||345|
|Event License Fees||6960|
|Foreign Trade Fees||2000|
|Corporate PRO + Financial Advisory||10 000|
|Local Agent Fees||6 000|
|Total Event License Cost||26 395 AED|
To know more about event management license cost in Dubai you can contact one of our company formation specialists for further assistance.
Benefits of Starting an Event Management Business in Dubai
Investors or entrepreneurs can benefit from starting an event management business in Dubai. Dubai has a very remarkable open system in which they warmly welcome foreign corporate investment. Due to its favorable legal structure, low costs, and substantial financial advantages for start-ups, Dubai draws a lot of investors from across the world.
1. Ease of Business Setup Process
The ease with which an event management company may be established is its finest feature. Additionally, the procedure is quick and doesn't call for bulky upfront costs. You can establish your event management business within a day of matter.
2. 100% Repatriate of Your Income
When you launch an event management company, you may repatriate 100% of your income and capital gains. Additionally, there are no personal or corporate taxes in the UAE.
3. Countless Business Options
Every year, Dubai holds a number of major events. The city also hosts a lot of corporate events and festivities. As a result, there are countless business options for an event planner in this area.
4. Free Zone and Mainland
Multiple jurisdictions options are available i.e. free zone and the mainland for investors where they can set up their business easily.
5. Minimal Risk Associated with Business
Investors can invest both short-term and long-term investments in their event management business in Dubai. A start-up business owner can launch the company with very little cash as well. Many other sorts of fixed expenditures, such as office furniture and rent, are not necessary to invest in. Your risk of losing money is always maintained to a minimal.
Requirements for Getting an Event Management License in Dubai
The essential documents which you are required to provide for event management license in Dubai include:
- A visa application.
- 3 trade name options, at least.
- NOC from the current sponsor.
- Two-color passport-size photographs.
- Passport copy of the proprietor and all partners.
Activities under Event Management License in Dubai
Here are the business activities that you can perform with an event management license in Dubai:
- Sell tickets for events.
- Integrate suppliers and dealers.
- Showcase products and services.
- Book hotels are event attendees.
- Organize events including seminars, gala events, product launches, weddings, conferences, award ceremonies and more.
However, there are a few activities that you may not be eligible to perform with just an event management license in Dubai including no import or export, no civil works, no construction work and more.
How Avyanco Can Help You Start An Event Management Company in Dubai?
Avyanco is a renowned international consultant who analyses and comprehends your needs when it comes to Event Management in Dubai UAE. We have a team of expert and qualified business consultants who support you with a wide range of business setup services, consultations across Accounting and Bookkeeping, Audit and Assurance, Taxation, Legal Frame Work, Risk Advisory, Technology as well as the provision of the appropriate guidance from the very beginning of the business formation processes to the successful execution.
Feel free to reach out to us for any queries.