The event industry is exploding around the world, United Arab Emirates, specifically Dubai, is considered one of the world's event capitals. This industry attracts significant investment to the country, with events and exhibitions at the Dubai World Trade Centre alone expected to generate USD 3.3 billion to the economy. Every year, it accommodates hundreds of events ranging from international trade fairs and consumer exhibits to corporate celebrations and conventions, attracting millions of visitors from around the world.
With Expo 2020 just around the corner, this trend does not appear to be slowing down anytime soon. Dubai expects to receive over 25 million tourists and generate up to USD 23 billion as a result of this event. To manage this large lot, a proper management system must be in place that favours bringing top-notch arrangements that will last for at least six months. That's where a company like Event Management Company comes in. Fortunately, if you are aware of all the legal requirements, beginning an event management firm in Dubai is a piece of cake. If not, a business consultant can assist you in making things easier.
This is a once-in-a-lifetime opportunity for every enterprising business. It's really simple to start an event management company. There's no reason why you can't participate in this large market if you have a business sense and the necessary skills.
With our assistance, you can set up your UAE event management company in just five simple steps.
The first step in getting an events management licence is to make a list of your company's activities.
While the events licence permits you to do a wide range of things, from hospitality management to event promotion, you must still mention any activities you want to do on your application.
It's essential to engage with a company formation expert at this step to ensure you're protected. Carrying out activities that aren't included on your licence can result in penalties, so be sure you're covered.
After you've detailed your company's activities, it's time to choose a name. In the UAE, this stage requires a little more consideration than in many other nations.
You must also adhere with the UAE's company name rules in addition to choosing a name that reflects your offering and sticks in the minds of your target clients.
While these are quite specific, they are very simple to follow. In brief, your business name should not contain any derogatory or blasphemous terminology, nor should it relate to any well-known organisations or firms. If you're going to use your complete name in your business name, no abbreviations or initials are acceptable. You should also make sure that the business name you want to use is accessible for registration. As part of the licence application procedure, a business formation expert can assist you with this.
The last step before submitting your formal licencing application is to choose the best company structure for your organisation.
In the United Arab Emirates, there are two options: free zones or the mainland. Both have their own set of benefits.
Free zones provide a simple and cost-effective option to launch an events business, with several appealing features such as 0% personal and corporate income tax and 100% exemption from customs duty. In addition, unlike many other countries, UAE free zone enterprises have the ability to repatriate all invested cash and profits. There are no currency restrictions or foreign exchange regulations.
You can also open up shop on the UAE mainland. Mainland enterprises can trade directly with the local marketplace without the use of a local agent and can take on government contracts, which are not available to free zone businesses.
It's time to submit your application once you've determined which activities you want to mention on your licence. You can apply directly to the Department of Economic Development of the emirate you want to start up in or to the relevant governing authority of the free zone, depending on your choice of setup.
A company formation expert can assist you with this stage, even managing the full application procedure on your behalf, regardless of the configuration you choose when applying for an events management licence in Dubai, Abu Dhabi, or the UAE.
Whether you apply on your own or through a company formation agent, you will typically only need to give a few details and some basic documentation, such as:
To obtain an events management licence, you can expect to pay around AED 15,000 in the UAE. Furthermore, in many cases, no office space is required, therefore there are few other expenses to consider.
You can also apply for a licencing package that includes a flexi-desk package, which gives entrepreneurs access to business services including desk space, mail, and internet and phone access.
You'll also need to apply for any necessary visas and open a corporate bank account in addition to getting your business licence.
It is also feasible to apply for visas for your staff in addition to your own. The maximum number of licences you can apply for is determined by the type of licence you have and the size of your company
You also have the option of sponsoring dependants' visa applications. The process is straightforward whether you want to bring your entire family to the UAE, including children, spouses, and dependent parents, or you need to recruit domestic workers, such as a housekeeper.
It pays to work with a company formation expert who can guide you through what can be a complicated process when opening a corporate bank account. If you want, a company formation expert can recommend the best banks for your needs and set up appointments for you.
Starting an event planning business in a free zone is relatively simple and requires very little capital. You can even sign up for a virtual office package, which includes a prominent address, excellent amenities, and access to a professional assistant, among other things.
A contemporary, fully equipped business centre is also located within the free zone and is open 24 hours a day. Meeting room access, high-speed internet access through Wi-Fi and LAN, printing and copying services, café access, receptionist cover, phone and fax services, and a maintenance and cleaning service are among the services available.
While applying for a UAE events licence is not unduly difficult, it does necessitate some prior knowledge of the procedure. Furthermore, it's worth noting that the application process is only simple if your trade licence application is full and error-free at the time of submission.
When forming a new company in the UAE, it's a good idea to engage with a company formation professional to guarantee that this is the case.
A business formation expert can help you open corporate bank accounts and recommend the best financial institution for your unique needs, in addition to managing your licencing application.
Many also provide visa and immigration services, and can assist with all government formalities, clearances, work permits, and visa applications needed to do business in the UAE.
In other words, company formation experts can incorporate your company on your behalf, file your licence and visa applications, and handle all of the essential paperwork, leaving you free to focus on your business.
Dhanguard provides the business setup and company formation services in Dubai, UAE with the guidance of our professional team of consultants. Faster and hassle-free company setup in Mainland and Freezone in UAE.
Dhanguard provides faster and hassle-free Trade License with minimum paper work. With the guidance of our professional team of consultants you will get General trading license, Freelance license, Etrader license, Event Management License, Travel Agency license in Mainland and Freezone in UAE.
The first step in launching an event planning firm in the UAE is to obtain an event management licence. This licence allows you to do things like event production, hospitality management, and event promotion, among other things.
AIn the United Arab Emirates, there are two options: free zones or the mainland. Both have their own set of benefits.
To start a business on the Dubai mainland, you must apply for an Event Management License directly with the Dubai Economic Department (DED). You simply need to apply once to the Department of Tourism and Commerce Marketing (DTCM) to hold your event anywhere in the UAE, and then you can hold events all across the country.
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