The event management industry is growing at an accelerating pace. One of the event capitals in the world and the UAE is Dubai. Event Management business is filled with hard work, creativity, ideas and logical reasoning. The event and exhibitions organized in Dubai World Trade Centre alone can contribute around 3.3 billion USD to the economy of the Emirates. The Dubai World Trade Centre hosts hundreds of events, functions, international trade fairs, consumer shows, corporate functions which welcome millions of international visitors every year.
Dubai has recently won the bid in Paris, to host the Expo2020. With this event coming up all the investors and expats are looking forward to investing in the event management company. To organize all the big conventions and events for this Expo2020 and manage the visitors, there is a need for more and more event management companies. To set up an Event Management Company is a very easy task. Also, you can always take help from the consultancy companies which provide you help to make your business setup idea crystal clear.
All You Need to Know About an Event Management Company in Dubai
An event management company in Dubai has seen a growth of 25 percent per annum, since the year 2013. The reports have estimated that Dubai between the years 2015 and 2021 will be welcoming around 25 million visitors and will generate up to USD 23billions. Many entrepreneurs are wandering to invest in the booming industry of event management. Starting an event management company is a piece of cake if you have got the right skills and head in business ideas.
You can establish your event management company in both mainland as well as in free zones. Both locations have their pros and cons, you need to consider this and then decide the location you want to setup you Event Management Business. In the mainland, if you want to set up your business then you need to have a local sponsor. If you wish to set up your company in the Free Zone then it has its own advantages. In case you are opting for Free Zone then you can have 100 percent ownership of the company. Setting up of company in a free zone is more advisable.
Activities Allowed under Event Management Companies
Following is the list of permitted activities under an event management company:
- Organize gala events
- Organize award ceremonies
- Various product launch events and conventions
- Organize meetings, conferences, and meetings
- Organize events and other business-related activities
- Sell the tickets for the listed activities and events
- Hotel reservation for the members of the activities and the events.
Activities Denied under Event Management Companies
Following is the list of activities which are not permitted under an event management company:
- Any civil or construction workings
- Any building stages or scaffolding exhibition stands or any such construction work
- Trading activities
- Import and export activities or related activities
- Training activities
- Organize or sponsor events which are not approved by the appropriate authorities.
- Talent agency’s activities
- Venue management activities
Event Management License in Dubai
The most important thing to incorporate any company is to obtain a license. To obtain an event management company license you have to follow a very simple procedure. In the case of a company in the mainland, you have to obtain a license from the Department of Tourism and Commerce Marketing (DTCM). While to obtain a license for Free zone you have to apply to the concerned free zone authority.
Steps to Obtain an Event Management License
1. Application Form to be filled
First and foremost step is to fill out the application form for obtaining a license. This form has all the details regarding your company. It has both personal and professional information. You need to list all your business activities and transactions while you apply for the license.
2. Lease Agreement
Along with your application, you should submit a copy of the lease agreement of your company. Articles of incorporation must also be submitted.
3. Approval by the DED
Once you have filled your application form and decided on the activities which the company is concerned with, you have to take approval by the department of economic development (DED). All the documents must be verified and approved from the DED.
4. Decide on a Location
You have to decide which location you are going to set up your business in. if it is mainland then the rules are different and if it is a free zone then it depends on the free zone you are opting to set up the company.
5. Reply from the DED
Once you submit your documents with the attached requirements, all you have to do is wait for a reply from the DED.
6. Fees to be Submitted
Once your application is approved, you have to pay the prescribed fees. This is the last step; after the fee is paid the license will be approved within the next few days.
Event management industry is one of the leading industries in Dubai. As more and more entrepreneurs are trying to invest in this sector, the business has grown rapidly. If you are looking forward to setting up your event management company in Dubai or obtaining a license then all you have to do is visit our team of experts at Commitbiz. Our advisors are here to assist you or solve any query you face while setting up your company in Dubai. Contact us- we are glad to help.
Is it profitable to start an event management company in Dubai?
What are the benefits of starting an event management company in Dubai?
If you start an event management company in Dubai, you will get a low-cost business setup and can hire employers easily.
Can I get 100% ownership to start an event management business in Dubai?
What are the steps followed to start an event management company?
- Shortlist the business activities
- Reserve a Trading Name
- Make a Choice of choosing the place
- Secure the Event Management License
- Open a Bank Account
What is the cost of establishing an event management company in Dubai?
The cost of establishing an event management company varies according to the company's location. However, it is necessary to note that event businesses in the free zone and the mainland are reasonably priced.