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Business Setup in UAE/Dubai

How to set up event management company in Dubai, UAE

January 18, 2022
 

An overview of the event management industry in Dubai, UAE:

Dubai is a global capital for the most lavish events to take place. Whether it is, the Grand Dubai Expo, a sporting spectacle, or any other event, Dubai makes it larger than life and is a hub for some of the most famous and popular events in the world. This reflects that Dubai, UAE is one of the places where opening an event management company would be extremely lucrative. With this blog, we aim to help entrepreneurs help understand how to set up event management company in Dubai, UAE.

As per the statistics, the Dubai World Trade Center (WTC) events and exhibitions alone are estimated to contribute about USD3.3bn to the economy. The GCC hospitality industry remains firm in its growth trajectory as well. The events industry here is very much keen and proactive in keeping up with this global and regional trend. And this is the same picture that is reflected throughout Dubai’s quarter of a billion Dirham events industry. Dubai has seen a 25% per annum growth in the past few years.

This has led Entrepreneurs particularly from this industry worldwide to look into this geography and see what they’re missing out on. Not to mention, the increased interest in understanding the process of how to set up event management company in Dubai, UAE, the perks, and returns it offers.

Key steps to set up event management company in Dubai, UAE

We have already given you a short and precise description of what the event management company in Dubai, UAE looks like and what it offers. Though it is an incredibly lucrative business, the initial work to set up an event management company in Dubai, UAE needs to be sound. There are many segments to this that we shall highlight as you read.

Following are the steps:

  • Business activity framework: the first step would be to outline the types of business activities that you plan to carry out within your events management company. While the license allows you to carry out a variety of activities from hospitality to event promotion, you are still required to specify the activities, apart of which might lead to penalties
  • Choosing a company name: this is an important step since UAE had led a few guidelines regarding the same. The name should be catchy, not used before, and not blasphemous, no abbreviations, and only full names should be used.
  • Choosing the right jurisdiction: deciding the company jurisdiction is important before the licensing process begins. You can set up your event management company in Dubai, UAE in any of the 2 commercial zones: Free zone or Mainland.
  • Applying for license: Department of Economic Development (DED) takes care of the event management license in Dubai. You need to provide the completely filled application form, all required documents, and two colored passport-sized photos. The cost of an event management company license is about AED 15, 000, and you can expect to pay this much.
  • Visa application and bank account: visa that you might need for yourself, your business partners, or any employees is required as well as you need to open a corporate account. The maximum number of visas you can apply for depends upon the type of license and the size of your business.
  • Legal structure:
    • Setting up an event management company in Dubai, UAE is possible on the Mainland as well as on the Free Zones. The registration for the company can be done in either of these as per your choice of location.
    • For Mainland, it falls in the “Professional Services” category and offers 100% ownership of the license to the individual. Mainland setup can deal directly with the local markets without any requirement for a local sponsor. They can conduct events anywhere in the UAE.
    • For Free Zones, there are various Free Zones in the UAE such as Dubai World, Dubai South, and also the Dubai Creative Cluster or Fujairah Creative City which are homes to all the event management companies in Free Zone. An individual can carry out as many events as he wishes, but he requires to specify his business activities while undertaking a license.

Documents required to set up event management company in Dubai, UAE:

The basic documents required for event management company formation in Dubai Mainland and Free Zone are:

  • Copy of passport of the owner and all business partners
  • Two-color passport size photographs
  • 3 trade name options, at least
  • Office Ferrari for Mainland licensing
  • NOC from the current sponsor, if applicable.

Important things to keep in mind after obtaining event management license in Dubai, UAE:

  • In case of an event withdrawal, you are completely responsible for complete ticket money back
  • Sale and promotion of event tickets outside any of the Free Zones are subject to the guiding principle of proper authorities (DED, DTCM, DM)
  • Sale and promotion of event tickets in other geographies are subject to laws, rules, and regulations of the authorities of the respective Emirate
  • Tickets, posters, leaflets, or any form of information should clearly mention any related general public information at all times

How MBG helps

MBG is a leading global consultancy that maps and understands your needs in the process of business setup in Dubai, UAE, or company formation in Dubai, UAE. We have a team of seasoned consultants that help you from the very initial processes of business setup till the very end with an expansive range of business setup services, consultations across Audit & Assurance, Accounting & Bookkeeping, Legal, Taxation, Technology, and Risk Advisory, providing the right guidance.

To know more about our services, you can reach out to us at Business Setup In UAE


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