All you need to know about the Incorporation of an Event Management Company in the UAE
In the recent past, the Event Management industry has been booming at an amazing rate in Dubai. The industry is bringing significant investments into the country. For instance, the Dubai World Trade Centre hosts events and exhibitions that contribute 3.3bn to the economy. From international fairs and consumer shows, the center welcomes millions of visitors annually.
This is a reflection of how the multi-billion Events Management industry is improving. In 2013, the industry was estimated to be worth around AED 165 million. Since then, it has experienced a 25% per annum growth. As the Dubai Expo 2020 nears, this trajectory does not seem to be slowing down anytime soon. In fact, this event which will last for six months is expected to attract over twenty million visitors. It is also expected to generate over $23billion for the city.
As the industry continues to thrive, it is presenting a lot of opportunities to budding investors. There is little information about starting an event company in Dubai. As a result, most entrepreneurs do not know where to start.
If you are looking forward to setting up Events Management Company, you should consult our expert business setup consultants in Dubai. At Business Link UAE, we have consultants who are qualified with immense experience in the event management company setup and will guarantee you smooth execution.
Event Management Company setup procedures
Event Management companies deal with planning and managing private or corporate events. Some of their services include organizing ceremonies, celebrations, product launches, workshops, conferences, and more.
If you are planning to start an event management company in Dubai, you will need to apply for an Event Management License. This will help you to conduct a wide variety of events freely without interference. However, there are certain activities that you are not permitted to do by the government. These include;
- Exhibition of any civil and construction workings such as building stages, scaffolding, etc.
- Certain trading activities such as imports and export products
- Training activities
- Organizing events and exhibitions with appropriate documents.
- Venue management
Nevertheless, Event Management Companies are allowed to conduct the following activities
- Organize and sponsor gala events, award ceremonies, conferences, meetings, product launches, and other business-related activities.
- Ticketing for events
- Reservation of amenities such as hotels for the attendees of events
Steps to obtaining an Event Management license in Dubai
- The first step of obtaining a license is to fill out the application form. It includes details such as personal and professional information. Also, it requires you to list the business activities you intend to operate with the license.
- If you intend to open a company in one of the Dubai Free Zones, you must understand the regulations involved. Each free zone has its own distinct rules.
- Once you have filled the form, you will submit it to the Department of Economic Development (DED) and wait for a reply.
- If the application approves you will get your license after a few days. Once, you have received your application, you will need to pay the fees involved.
A few points to note before you open an event management company in Dubai
- In case an event flops, you will be responsible for refunding the ticket money. So, it is advisable to secure a reliable insurance policy to cushion you from all the changes and refunds when an event is withdrawn. Also, you must know that the authorities have the right to examine the activities of your company and files in any instance.
- Ticketing for events outside the free zones is subject to the regulations set by various authorities such as DED, DTCM, or DM.
- Ticketing in other states or countries is also subject to the laws and guidelines stipulated by authorities In Dubai.
- Marketing and promotional materials such as websites, posters, leaflets, and banners should indicate information related to the general public.
Opening an event management company in Dubai comes with immense benefits. Teaming up with a reputable business setup firm makes the process a whole lot easier. At Business Link UAE, we have a team of expert business consultants in Dubai who will leave no stone unturned to make the company formation process a breeze for you.