Due to its luxurious and opulent lifestyle, Dubai presents a profitable business opportunity for event management. Meetups and business networking events used to be organized by startups and corporate individuals. On the personal front, some of the most-liked events include weddings, birthday celebrations, and anniversaries.
Therefore, you are on the right track if you are considering opening a new event management company. This business can develop. Now let’s investigate:
How to set up an event management company in Dubai?
You need to take the following actions:
Decide your economic activities
You must understand your business services before applying for a trade licence. You should know that the competition for event management companies in the United Arab Emirates is fierce. So, rather than providing a wide range of services, attempt to choose a niche.
- Wedding planners
- Party planners
- Musical event planners
- Corporate event planner such as conferences, trade shows, conferences, meetings, etc.
Choose services that you have years of experience with. This is because you need to effectively compete with other event management companies in Dubai, which you can achieve by providing superior services and knowledge.
Select the legal system and jurisdiction
Decide whether to set up your event management company before opening a new business in Dubai. Companies operating in free zones and on the mainland need to be chosen. It’s time to understand their distinctions and pick the best jurisdiction for you.
Your business’s legal structure is something you must decide upon. You can launch an internet business, an LLC, or a private company. You need a professional services licence to open a company in Dubai Mainland.
Select the name of the company
Your company name needs to be specified. You must follow certain naming conventions to gain approval for your business name. Register your chosen company name with the UAE registry as soon as you decide. Make sure this name is free of objectionable language and use your entire name rather than just your initials.
Event management license
You must apply for an event management licence in your jurisdiction. Two passport-sized photos and copies of all shareholders’ or partners’ passports must be provided with the application.
Get a visa
It’s time to apply for both your employees’ visas and your own. The kind and size of your Dubai event management licence will determine how many visas you can sponsor.
Open a bank account
You must open a corporate bank account to conduct some business activities. Select a bank based on your unique business needs. Select a bank that provides secure choices for both credit and cash transactions.
Required documents for an event management company setup in Dubai
For Event Management Company Formation in Dubai, you will need to provide the following documents:
- Copies of passport of all owners and shareholders, and partners
- Two color passport size photographs
- Trade name – at least four or five to pick one
- Physical Office Ejari when you need event management company license in Mainland
- NOC from the current sponsor, if required
Cost of event Management Company Setup in the UAE
The cost of opening a new company in the event management industry can vary greatly depending on various factors. This cost is determined by the company’s size, location, activities, and business activities. From one jurisdiction to another, the price will differ. Establishing a business in Dubai Mainland will cost more than setting up an event management company in a free zone. However, setting up a Freezone event management company is cost-effective.
In Dubai, an event management licence can cost between AED 15000 and AED 30,000. However, you should contact our business consultants for an accurate price. They will examine your business and provide a comprehensive cost breakdown.
In Dubai, how much does an event permit cost?
Are you considering planning an event in Dubai? If so, you’ll need to obtain an event permit. Additionally, you’ll need a ticketing license if you need any tickets. The event’s size, scope, and activities determine how much an event permit will cost in Dubai. In Dubai, event permits can cost anywhere from AED 1500 to AED 3000. In addition, you will need to pay Dubai’s Department of Tourism an additional AED 10 for Knowledge Dirham and Innovation Dirham Commerce Marketing (DTCM).
Final Words
The final thing you need to know is how to set up event management companies in Dubai. It takes a few days to a few weeks to complete the process. You will need to provide all necessary documents.
We are here to assist because, as a foreigner, it may be difficult for you to set up an event management company in the United Arab Emirates. The business consultants at Prospr have ten years of experience negotiating the complexities of the corporate world. During that period, we supported business owners in expanding their operations and assisted startups in smoothly realizing their goals.
Would you like to set up a hassle-free event management company experience in Dubai? Schedule a consultation right away!