How to get an event management license in Dubai?
Dubai is one of the most happening cities in the world. It is a global hub for tourism, shopping, and business. There is always one or another event happening in Dubai, from the shopping festival to Dubai Expo, to exclusive events of the MNCs that have offices in Dubai. Dubai is also home to some influential millionaires, celebrities, and investors. This makes it one of the best places to have an event management company. One might get overwhelmed on where to start to set up your business. The starting point would be to get your license to start an event management business. Here are the simplified steps required to get this done:
Business Outline and Name
The first step to getting a license for an event management company would be to create an outline of your business. List in detail the activities you intend to undertake in your application form. This can range from film promotions, weddings, birthdays, etc. Undertaking activities that are not listed in the application can result in legal complications. Take expert guidance while filling out the application to be on the safer side.
Another important basic stop would be to choose your company’s name carefully. Choose a name that will comply with UAE regulations on the same. The name should be the one that will stay in the mind of your target customers. The name shouldn’t be blasphemous by the cultural standard and check if it is available to be registered.
Mainland vs. Freezone
Depending on the list of activities you have mentioned in your application and the nature of your business, you can choose between Mainland and Freezone to set up your business. Setting up a business in the Mainland is now easier. You can enjoy 100% ownership of your business. With effect from December 1, 2020, the UAE has eliminated the requirement for UAE nationals to serve as sponsors, allowing expatriate investors to own 100% of the company. Mainland businesses are allowed to do business in the Free zone area, whereas the latter is not allowed to do business in the Mainland area. Mainland businesses can take up government contracts. The free zone is ideal for foreign investors who want autonomy over their business. They have tax exemptions and no foreign exchange restrictions. This zone is cost-effective for foreign investors who want to set up a new business in the UAE.
Filing the Application
Once the above steps are complete, you can submit your application form to the Department of Economic Development or other relevant authorities in the Free zone. One can take the help of a company formation expert to do this step on one’s behalf. Have the completed application form, passports of owners, and passport size photos of the owners ready before going for the submission.
It would cost you around AED 14,500 to get the event management license. In addition to this, do consider expenses like rent and interior decor that would be required to set up your office in the UAE.
Banking and Visa
You would need a corporate bank account to conduct your business smoothly in the UAE. Also, ensure that you have done the necessary paperwork related to the visa that will let you work in the UAE. This is
extremely important to sponsor your employees or dependents into the UAE. Improper visas can also result in penalties, therefore ensure there is no ambiguity in your visa. Get banking-related paperwork for your business done as soon as possible, as it is one of the most imperative necessities for setting up a business in the UAE.
Set up your dream business
Once you get a license you can start working on hiring great talent and setting up the actual office. Through networking, you can approach possible clients and pitch in your ideas for any event. Dubai has immense opportunities in the event management field due to its metropolitan nature. It is a paradise for an ambitious entrepreneur. So don’t get overwhelmed! Start from the basic step of getting a license and take it from there. MarqueWay, with the help of our experts, provides all the services needed to make your dream business a reality. Get in touch with us to make your business setup & license acquisition hassle-free.