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We all know Dubai is a happening city, known for its various events, activities, and tourism. According to a report by TradeArabia, the event industry in Dubai was expected to be worth Dh 165.15 billion ($44.7 billion) in 2023 itself. The industry is projected to grow at a compound annual growth rate (CAGR) of 25% from 2023 to 2027. If you are willing to start an event-management company in Dubai, then this is the golden hour. Entering this potential market can take your management company to a separate level.
With such growth rates, this presents an incredible opportunity for an entrepreneur. If you are an entrepreneur willing to start an event management company, then this blog will guide you to getting a license for it.
Dubai has been one of the potential countries, known for its prospering businesses, attractive tourist spots, and global centre for multiple events. Hence, Dubai is fertile ground for setting up an event management company. Some other reasons include the following:
If you plan to start an event management company in Dubai, it’s essential to take into account the factors that can impact your business. One of the most important requirements is obtaining a license, as you cannot operate without one.
With the help of experts like CDA, you can easily set up your business, even if you have no prior knowledge. Follow the below steps to get your license:
The first step is to decide on the operating zone in which you want to register and operate your business. There are two types of economic zones in the UAE: Mainland and Free Zones.
The primary difference between a mainland and a free zone is the zone of operations. Free zone businesses are limited to trading within the country’s free zones, while mainland businesses are free to conduct business both inside and outside the UAE.
Previously, foreigners needed at least 51% sponsorship from a local partner to own 100% of a mainland business. However, this restriction has been lifted, and foreigners are now able to acquire 100% ownership of a mainland business.
Listing your company activities is the next step to take before submitting the application for an event management license. When applying for this license, an accurate list of your company’s activities is important. This ensures your license covers the services you intend to provide.
For example, if you are an event management business willing to open your own company in the UAE and you provide all event-related services, then here is a list of things you could add:
To avoid any potential fines, it is recommended that you seek the advice of a company formation specialist such as CDA. We can guide you through the application process and ensure that you are covered for all the activities you plan to perform under your license.
It is important to choose an apt name for your company. There are strict rules and regulations to follow while choosing a name for the company. It is important that you follow UAE name laws while selecting your company name. These laws include that the name should not include any misleading or sinful words, and it should not mention any popular or existing business.
If you choose to use your complete name in your company name without any initials or acronyms, it is acceptable. It is crucial to ensure the availability of registering your chosen business name.
Once you list your business activities and select your company name, it is important to get the required license for your business. To get your free zone license in Dubai, either you can go straight to the DED office or you can go to the appropriate free zone and submit your application.
Following the application process, choosing the required items and providing the documents might seem difficult. This is where experts like CDA can help you handle the full application process on your behalf.
The requirements for submitting an application are usually minimal and require only basic documents, whether you submit it through CDA or on your own. These documents consist of:
The cost of getting a management license will likely cost you approximately AED 14,000 to AED 20,000. Additionally, since renting office space is not required, there are typically no other costs to take into account.
To set up your business in Dubai, UAE, you will need to take care of certain formalities. Firstly, you need to open a corporate bank account, apply for any visas that are required, and get your business license.
You can also apply for the visas for your employees if you plan to hire them. The kind of licence you currently possess and the size of your business will determine how many visas you are eligible to apply for.
Moreover, you can also support the visa applications of your dependents, whether it’s your spouse, children, parents, or even domestic help such as a maid. The process of visa application is straightforward, and you can easily relocate your entire family to the UAE.
It is highly recommended to seek assistance from a professional like CDA to help you navigate the complex process of obtaining a corporate bank account and getting a visa. We can also set up appointments for you and provide guidance on which banks would be most appropriate for your business needs.
Various activities can be conducted by the event management company by holding the event management company license, some of which include the following:
Are you ready to turn your event-planning skills into a successful business in Dubai? It is easier than you think to get an event management license. Follow the step-by-step process to secure your license and launch your dream company. Starting a business in Dubai without any experience or expert assistance might seem intimidating. The entrepreneurs might find it very overwhelming to juggle their core business activities with meeting the registration and licensing requirements. But don’t worry; expert business advisory services from the CDA can solve your issues. How? The answer is below.
Are you someone who has the potential to creatively manage events and surprise clients with extraordinary ideas and the will to start an event management company in Dubai? But don’t know how. Don’t worry! CDA’s team is at your service. CDA’s professional business set-up service providers and PRO services can enable you to get the trade licenses and registration procedures for your business sorted out without any hustle. With our expertise, we can get you all the documents required to get the approval of the authorities, select the best business locations, identify potential ideas, etc. To learn more about our services, contact us now.
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