The events industry is an integral contributor to the Dubai economy. Whether they are simple affairs or complex extravaganzas, events stimulate activity in many related sectors, such as food and beverages, tourism and hospitality, as well as transportation and infrastructure. The government thus, looks favourably upon companies setting up in Dubai’s events sector.
Below is a breakdown of the major steps involved in starting an events management company in Dubai:
Deciding where to set up
Your events management company can be located in the Dubai mainland or in one of its free zones.
While a free zone location offers tax concessions, full repatriation of profits and a streamlined, easy-to-follow business registration process, a mainland business in Dubai has wider access to clients in and out of the UAE, and offers more options to diversify in the future. With these considerations in mind, an entrepreneur should determine which location would suit his or her business goals before starting a company in Dubai.
Submit your desired trade name
Before you can apply for a business license, you have to obtain approval for the name of your event management company. For companies in the Dubai mainland, the approval will be issued by the Department of Economic Development, while the relevant regulatory authority will look after the process in a free zone. Each body has its own set of regulations concerning trade names, so it is worth the effort to familiarise yourself with them before submitting your proposal.
Apply for a trade license to open an event management company.
This business license will entitle your company to carry out activities ranging from hospitality management to event promotion. However, in the license application, you will have to specify the activities your company will be engaged in. This is an important step that should be completed after carefully drafting a business plan. An events management company set up in Dubai is not permitted to carry out activities that are not explicitly stated in its license, so make sure that there are no accidental omissions. Otherwise, the license will have to be amended, which will cost you both time and money.
The business licensing process is handled by the Department of Economic Development for event management companies opening in the mainland, while those in Dubai’s free zones apply to their respective authorities. Owners who are UAE residents have to submit their passport, emirates ID, colored photograph and residence visa, along with a completed application form. Owners who are not UAE residents have to submit their passport copy, colored photograph, visit visa copy or on-arrival entry stamp copy, along with a completed application form.