03 Jan How to Start an Event Management Business in Dubai?
Dubai is the event capital of the world. Be it a sporting spectacle, the Dubai Expo, or anything else – high-scale events are always around the corner in the UAE. Therefore, opening an event management company is a lucrative career choice for Indian investors. However, you might be thinking, “how to start an event management business in Dubai?”
Well, we answer all your queries in this blog. Moreover, our business consultants provide end-to-end business assistance to help you launch your event management company in the UAE. We take care of the paperwork, licensing, banking, and everything else.
What is an Event Management Company in the UAE?
Event management businesses are those that plan and handle corporate events. They plan ceremonies, celebrations, product debuts, and presentations, as well as meetings. The first step in establishing an event management company in Dubai is to apply for an event management license.
How to Start an Event Management Business in Dubai?
Opening an event management company in Dubai is hassle-free and straightforward. All you need to do is follow the steps mentioned below:
- Shortlist the Business Activities
- Reserve a Trading Name for your Event Management Company
- Mainland or Free Zone – Make a Choice
- Secure the Event Management License
- Open a Bank Account
All these points are discussed below in detail to make it easier for you:
1. Shortlist the Business Activities
It’s critical that you know exactly what type of business you want to run. This is because you must mention your company operations in your service license application. At this point, business formation experts at Shuraa India can assist you in ensuring that your application is accurate and comprehensive.
Once you’ve determined which activities you want to include in your license, it’s time to file your application. You can get in touch with the Department of Economic Development (DED) for a mainland establishment. Moreover, you can also launch your event management firm in any of the free zones.
2. Reserve a Trading Name for your Event Management Company
Do you have a list of company names in mind for your event management venture in the Emirates? If not, discuss with your partners and list down 3-4 desired trading names you wish to keep as your official name.
Moreover, don’t forget to follow all the naming convention guidelines when deciding your company’s legal name. In addition, you can follow the best practice of keeping a name that’s unique, catchy, and indicative of your activities.
3. Mainland or Free Zone – Make a Choice
Where do you want to establish your company as an Indian event planner? You can open your event management venture in the mainland region and enjoy the various associated benefits. Some of these include the freedom to have as many partners as you want alongside access to the local market.
In addition, the flexibility to apply for numerous visas is also a prime benefit. A specialized free zone like the Fujairah Creative City is also a viable option for becoming an event organizer. Moreover, you don’t need to pay any taxes when you set up your company in a free zone.
4. Secure the Event Management License in Dubai
You can apply for an event management license once you have completed all the above steps. Ensure that you submit all the mandatory documents alongside the business application. Some of these documents include:
- Passport copies of all the shareholders
- Copy of your visit visa/entry stamp
- Colored photographs (2)
You also need to renew your event management license from time to time to maintain its validity. Failing to do so can lead to penalties and strict legal actions against your legal entity.
5. Open a Bank Account
You need to open a corporate bank account to manage all the monetary transactions of your event management company. Ensure that you always choose a reliable bank that offers top-notch banking services.
Moreover, invest enough time in research before finalizing a bank. However, you don’t have to worry about any of this when you work with the legal advisors at Shuraa India. We help Indian business aspirants and other expatriates find the ideal bank for their event management venture.
How Much Does it Cost to Launch an Event Management Company in Dubai?
The costs of setting up an event management firm vary depending on the business location. However, note that both – free zone and mainland establishments are affordable. The cost of a license on the mainland is determined by the legal category of the license.
The cost of a free zone company varies from one to the next. In addition, most come in the form of a package depending on the business activities and required visa permits. Therefore, it’s difficult to define an estimate for opening such an enterprise in Dubai.
However, you can expect anything between AED 20,000 to AED 30,000 as a ballpark figure for the cost related to an event management company. You can connect with the business experts at Shuraa India and discuss your requirements to get a precise quotation.
Benefits of Setting Up an Event Management Business in the UAE
- The best part about setting up an event management firm is the hassle-free establishment process. In addition, the process isn’t time-consuming and doesn’t require hefty initial investments.
- You can repatriate 100% of your profits and capital gains when you start an event management business. Moreover, you don’t need to pay any personal or corporate taxes in the UAE.
- Dubai hosts several mega-events each year. Moreover, the city is also home to many corporate spectacles and celebrations. Therefore, business opportunities for an event planner in this region are endless.
Start your Event Management Business in Dubai Today!
An Indian event organizer can’t ask for more favorable business conditions than what the UAE presents. Therefore, now is the right time to get started with your dream venture in this country. If you have any concerns regarding how to start an event management business in Dubai, feel free to connect with the company formation at Shuraa India.