With Expo 2020 coming along with massive support from the UAE government in terms of new policies, opening of new tourist destinations and exemption from value-added tax (VAT) for tourists, UAE Hospitality Industry is expected to reach $7.6 Billion by 2022 (Alpen Capital’s latest report on GCC Hospitality Industry 2018), and this is a sure sign that Dubai Events Industry is getting healthier by the day.
If you are looking to start event management business in Dubai, now is a great time to do that. Since 2013, the events industry in Dubai has been experiencing a growth of 25% per annum, a robust growth rate that is fueling the growth and expansion of the service providers supporting this industry. Whether corporate events or recreational events, Dubai has always been a top choice to host them.
Procedure to Setup an Event Management Company in Dubai
Event Management companies in Dubai are those companies who plan and manage corporate events. They organize ceremonies, celebrations, product launches, and product presentations, workshops, conferences etc.
The first step is to decide what type of events you want to organize e.g. do you want to conduct large scale event, small scale event, product launch, promotion or a conference?
In order to setup your event management company in Dubai, you have to decide your business activity first and then choose the location where you want to conduct your business i.e. Dubai Mainland or free zone.
There are numerous free zones in UAE such as Fujairah Creative City, Dubai World Center and Dubai Creative Clusters Authority that are home to event management companies.
If you have selected the free zone where you want to start then send an application form along with required documents such as passport copy and visa copy to the relevant free zone authority.
UAE free zone company formation provides 100% ownership to foreign investor but there will be limitations on where business owner can grip events and exhibitions. Any businesses set up in UAE free zone must apply for a permit from every venue they work with and cannot hold events in public spaces such as beaches or parks.
Allowable activities for an event management company in Dubai free zone
- Organize, manage and encourage gala events, award ceremonies, conventions, product launches, conferences, meetings, seminars and other business-related events in Dubai through an Event Management License in Dubai.
- Hotel reservations for the attendees of the Event
- Can sell tickets for Event.
Non-Allowable activities (but shall not be restricted)
- Carrying out any civil / construction workings (for e.g. building stages, scaffolding, exhibition stands or any extra construction work).
- Trading activities (also include import and export of products)
- Training Activities.
- Talent Agency’s Activities.
- Venue Management.
- Establish and sponsor events lacking the approval of the appropriate authorities.
In order to setup business on Dubai mainland, you need to apply for Event Management License directly to DED. In order to hold your event anywhere across UAE, you need to apply only once to Department of Tourism and Commerce Marketing (DTCM) and then you can conduct events all over the UAE.
Procedure to Obtain Event Management License in Dubai
The first step for Business Registration in Dubai is to fill out application form for obtaining the license. You need to provide personal and professional information and also list down your business activities. Submit the completely filled application form to Department of Economic Development (DED) in case of mainland or to free zone authority in case of free zone company. Note that there are different rules for each free zone.
After you have submitted application with required documents, wait for reply from DED for your approval. After the initial approval, pay the fee and get license in a few days after the final approval.
Benefits of starting an event management company
1.Low cost to setup
- Event management licenses are incredibly affordable in Dubai, starting at around AED 17,500.
- There is also no requirement for paid upfront share capital for mainland events businesses or in many of the UAE’s free zones.
- There are very few upfront costs outside of this – depending on your business activity, providing you’ve a PC and a relevant knowledge of the sector, you’re good to go.
2.Flexible Visa Options
There is no upper limit which means that event management business owners can apply for unlimited visas.
3. Office space requirements
In UAE free zone, there is often no requirement to take on office space and but on the mainland, however, office space is required. It depends on your business activity and budget on what kind of space will be needed. Our company formation specialists at KWS Middle East will guide you all about office types and leasing process.
4. Sponsor dependents
An event management license not only allows you to obtain visas for your employees but also for dependents for their residence visas too.
Fortunately, starting an event management company in Dubai is an easy process if you are aware of all the legal formalities. If not, you can always take help of our business consultants at KWSME to make things easier.
Get all information on business setup in UAE by visiting our website https://www.kwsme.com/. Contact us on 00971-(04) 871 4313 or send your query at email@example.com.