Around the world, event management company is exploding. The United Arab Emirates, specifically Dubai, is considered one of the world’s events capitals. This industry attracts a lot of money to Dubai, so much so that events and exhibitions at the Dubai World Trade Centre are anticipated to bring in USD 3.3 billion. Every year, it holds hundreds of events, ranging from international trade exhibits and consumer displays to corporate celebrations and conventions, and it welcomes millions of visitors from across the world. This trajectory does not appear to be slowing any time soon, with Expo 2020 is ongoing. Dubai anticipates welcoming over 25 million tourists and generating up to USD 23 billion in revenue as a result of this event.
To manage this large amount, a proper management system must be in place that favors bringing in top-notch arrangements that will endure for at least six months. So, first of all, we have to obtain an event management license in UAE. That’s where a company like Event Management Company can help. Fortunately, if you are aware of all of the legal requirements, beginning an event management firm in Dubai is just a piece of cake. If you need assistance, you may always hire a business consultant in UAE. So, let’s have a look at the procedures to get an event management license in UAE.
Why set up an event management company in Dubai?
Some of the benefits of starting an event management business in Dubai include:-
- Low-cost business set up
- Easy to hire
- Sponsor loved ones
Here are the 5 easy steps to get an event management company in Dubai:-
Step 1: Always have an outline of your business activity
The first step in getting an events management license is to make a list of your company’s activities.
While the event’s license 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 license can result in penalties, so be sure you’re covered.
Step 2: Name your company
It’s time to pick a name for your business after you’ve defined its operations. This stage demands a little more thought in the UAE than in many other countries.
You must also adhere to 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.
These are highly specific, yet they are also very easy to follow. In brief, your business name should not contain any derogatory or obscene terminology, nor should it relate to any well-known organizations or firms.No abbreviations or initials are permissible if you’re intending to utilize your full name in your business name. Make certain that the business name you want to use is available for registration. As part of the license application procedure, a business formation expert can assist you with this.
Step 3: Choose the right setup
Next, you have to decide on the right company setup for your business.
In the United Arab Emirates, there are multiple options for setting up a company in UAE, some of them are as follow
Both have their own advantages and disadvantages:
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 can repatriate all invested cash and profits. There are no currency limitations or limits on foreign exchange.
You can also open a business on the mainland of the UAE. Mainland enterprises can trade directly with the local market without the use of a local agent, and they can also take on government contracts, which free zone businesses cannot.
Step 4: Now, Apply for the event management license
It’s time to submit your application once you’ve determined which activities you want to mention on your license. You can submit an application directly to the emirate’s Department of Economic Development or the applicable regulatory entity of the free zone.
A company formation expert can assist you with this stage, even managing the full application procedure on your behalf, regardless of the setup you choose when applying for an events management license in Dubai, United Arab Emirates.
- Completed application form.
- A copy of the intended owner’s passport.
- Two-color passport size photos.
Step 5: Open a bank account and apply for a visa.
You’ll also need to apply for any necessary visas. Then open a corporate bank account in addition to getting your business license.
It pays to deal with a company formation expert who can help you through obtaining a corporate bank account. If you choose, a company formation expert can recommend the best banks for your needs and set up appointments for you.
SO, LET’S CONCLUDE
It is important to note that your event management license application is error-free and complete at the time of submission. That’s why it’s a good idea to work with a company set up consultant such as BUSINESS LINK UAE.
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