start an event management company in dubai

Image Source: Unsplash

Are you ready to dive into the world of event management? Dubai, with its vibrant and extravagant event scene, is the perfect place to launch your event management venture. From the iconic Dubai Expo to sporting spectacles and high-profile corporate gatherings, Dubai sets the stage for unforgettable experiences. In this comprehensive guide, we will walk you through the step-by-step process of starting an event management company in Dubai, UAE. Get ready to make your mark in this global hub of innovation and luxury.

Why Dubai?

Dubai is a global capital for the most lavish events to take place. The city’s event management industry is booming, with Dubai World Trade Centre events and exhibitions alone contributing an estimated USD 3.3 billion to the economy. The events industry in Dubai has seen a remarkable 25% per annum growth in recent years. Moreover, the emirate’s event management industry is expected to continue its upward trajectory, with the global events industry projected to reach $1.55 trillion by 2028.

Step 1: Business Activity Framework

Before diving into the process of setting up your event management company, it is essential to outline the types of business activities you plan to carry out. While the event management license allows you to engage in a variety of activities, it is crucial to specify the exact nature of your business to avoid any penalties. This step ensures that you have a clear understanding of the scope of your event management services.

Step 2: Choosing a Company Name

Selecting a catchy and unique company name is crucial for establishing your brand identity in Dubai. The UAE has specific guidelines for choosing a company name. Your company name should not have been used before, should not be blasphemous, and should avoid abbreviations. Opt for full names that resonate with your target audience and reflect the essence of your event management services.

Step 3: Choosing the Right Jurisdiction

Deciding on the jurisdiction for your event management company is an important consideration. In Dubai, you have two options: setting up in a free zone or on the mainland. Free zones offer attractive benefits such as 0% personal and corporate income tax, 100% exemption from customs tax, and the freedom to repatriate all invested capital and profits. On the other hand, the mainland allows you to directly access the local market without the need for a local sponsor.

Step 4: Applying for a License

The Department of Economic Development (DED) in Dubai handles the event management license application process. To apply for a license, you need to submit a completed application form, all necessary documents, and two coloured passport-sized photos. The cost of an event management company license is approximately AED 15,000. Once your application is approved, you can proceed to the next steps of setting up your event management company.

Step 5: Visa Application and Bank Account

As an event management company owner, you may require visas for yourself, your business partners, or any employees you plan to hire. It is important to apply for the necessary visas to ensure compliance with UAE regulations. Additionally, opening a corporate bank account is crucial for managing your company’s finances and facilitating transactions.

Step 6: Legal Structure

When setting up an event management company in Dubai, you have the option to choose between the mainland and free zones. Mainland companies fall under the “Professional Services” category and offer 100% ownership of the license to the individual. Mainland companies can conduct events anywhere in the UAE without the need for a local sponsor. On the other hand, free zones such as Dubai World, Dubai South, and Dubai Creative Cluster offer various benefits and flexibility for event management companies.

Documents Required

To successfully set up your event management company in Dubai, you will need to gather the following documents:

• Copy of passport of the owner and all business partners
• Two-color passport-sized photographs
• Three trade name options
• Office space for mainland licensing
• No Objection Certificate (NOC) from the current sponsor, if applicable

Important Considerations

After obtaining your event management license in Dubai, it is important to keep in mind the following:

• You are responsible for refunding ticket money in the case of event withdrawal.
• Selling and promoting event tickets outside the free zones is subject to the regulations of proper authorities.
• Selling and promoting event tickets in other geographies must comply with the laws and regulations of the respective emirate.
• All event-related materials should display relevant public information.

How MBG Can Help

MBG is a leading global consultancy that specializes in business setup and company formation in Dubai, UAE. Our team of seasoned consultants can guide you through every step of the process, from the initial setup to ongoing support. We offer a wide range of services, including audit and assurance, accounting and bookkeeping, legal and taxation, technology, and risk advisory. With MBG as your trusted partner, you can navigate the complexities of starting an event management company in Dubai with confidence.

To know more about our services and how we can assist you, visit our website or contact us at Business Setup in UAE.

Conclusion

Starting an event management company in Dubai, UAE opens up exciting opportunities in one of the world’s most vibrant event capitals. Dubai’s booming event industry and lucrative market make it an ideal location for aspiring entrepreneurs. By following the steps outlined in this guide and seeking expert assistance, you can embark on a successful journey in the event management industry. Let your creativity and passion shine as you craft remarkable experiences and leave a lasting impression in the dynamic world of events in Dubai.