One of the simplest and easiest business setups in Dubai is an event management business. You need not have profound expertise to start an event management company in Dubai.
In fact, the UAE is fond of organizing big events, especially when there are festive seasons around the corner. Thus, starting an event management business in the UAE this year might be a great way to supplement your income.
However, you might be wondering how do you start an event management business in Dubai, right? Worry less, you are not alone. The following are the best nuggets to put into consideration to establish a successful event management company in Dubai;
- Select your event management company business activities
- Decide on the company’s business name
- Choose an ideal location for the business
- Get your event management trading license
- Create a business bank account
Starting an event management business in Dubai doesn’t involve technical steps to get it up and running. With the aforementioned steps done correctly, you’ll have your event company well-structured and ready to serve clients all over the United Arabs Emirates.
On top of that, you might experience technicalities when it comes to obtaining a professional event trading license. Usually, this process entails a lot of paper works and strict adherence to the legal requirements enacted by the UAE authorities governing the licensing applications.
Therefore, if it happens you’re not conversant with what the UAE authorities instruct you to do, we at Vigor Business Set Up Company Formation in Dubai assist all investors starting their business in the UAE. You can always seek help from our expert business consultant to walk you through all the steps-by-steps procedures needed to start a prolific event management company in Dubai.
That said; how do you start an event management business in Dubai? Let’s find out:
5 Steps to Starting a Successful Event Management Business in Dubai
Are you looking forward to starting an event management business in Dubai this year? Dubai is the leading capital in terms of business opportunities. And so, jumpstarting even management business in Dubai will do just well as any other business.
Additionally, the advanced infrastructure, stable economy, and free zones which offer total business ownership to foreign investors attract several investors to do business in the UAE. For a productive event management business, consider following these steps;
Step 1: Select your event management company business activities
There are lots of events management activities you can start in this type of business. For instance, you can decide to choose the following events management activities for your company’s business;
- Party planning
- Fashion shows
- Wedding planning
- Planning music concerts
- Performing MICE
These are among the best business activities you can rest on for your event company. Therefore, if you want your business to have higher returns, don’t be a jack of all traders, select one activity and perform it to your best.
Choosing one business activity such as wedding planning will showcase you as an authority in this field, hence; attracting more serious and professional clients to your business. That means; if you’ve expertise in performing MICE, or fashion shows, then these would be the perfect business activities to embrace in Dubai.
Immediately you have decided which type of event business activities to go for, it is high time you move to the next step.
Step 2; Decide on the company’s business name
Generally, the UAE authorities demand business owners submit at least 3 business names for approval. You’ll craft your trade company names having in mind the naming convections set aside by the UAE authorities.
For instance, no use of business names that are already in the marketplace, desist from using offensive naming words, use of simple trade names among others. Thus, if in any case you’re found violating the naming rules governing the Dubai marketplace, it is needless to say you’ll find yourself in a hot soup with the UAE authorities.
In addition, you are required to submit your business names to the Department of Economic Development in Dubai for approval.
Step 3; choose an ideal location for the business
Where do you want to start your event management business? Location is another important aspect to consider when starting any business in the UAE. Typically, the UAE offers several locations you can primarily set your business as per your preference.
And so, some of the common places you can establish your business include the Dubai Mainland or the Free Zone. Setting your even company in Free Zone will provide you with full ownership of your business, unlike in Dubai Mainland. Additionally, you’ll enjoy a tax-free regime in the Free Zone.
Therefore, according to the need of your business, you can either select a Free Zone area or Dubai Mainland. Thus, in Dubai Mainland, you’re free to partner with other business investors as you may wish. Free Zone; you are only bounded to the zone you are in. This means each zone comes with its pros and cons.
So, to understand these zones better, you can consult a professional business consultant at Vigor Company Formation for in-depth knowledge.
Once you’ve established where you’ll conduct your event business, you’ll need a trading license to be permitted to conduct your event business activities. Read on to find out more about event management trading licenses.
Step 4; Get your event management trading license
To start an event company in Dubai, you are required to have a professional event management trading license in Dubai. Therefore, to obtain a trading license in Dubai from a Mainland location, you’ll be needed to submit your documents to the Department of Economic Development in the UAE.
DED is the body handling all the licensing issues in the UAE. When applying for your trading license, DED commands all investors to submit the following documents for attestation;
- Copies of your passport
- Copies of your entry permit
- Two colored photographs
You can decide to apply for your license online or visit the DED for more information. Also, don’t hesitate to consult us in case of any difficulties.
Step 5; create a business bank account
Opening a bank account seems to be the last important step to take when starting your event management business in Dubai. Once you’re certain you’re done with all the above steps, setting up a business bank account might do you good.
Generally, a business bank account will help you to account for all your revenue, unlike mixing your business money with your savings.
Nonetheless, it is recommended to do thorough research before choosing a reliable bank for your business.
Now that you have all the steps of starting an event management business in Dubai in your palm, why should you start this type of business?
Benefits of Starting an Event Management Business in Dubai
- There are lots of business opportunities for event planners in Dubai. This is because Dubai is fond of hosting myriads of big events annually. In addition, this city is a hub for several corporate functions and celebrations as well.
- It is a hassle-free process to start an event company in Dubai. Similarly, the process doesn’t require huge amounts of capital to launch.
How much does it cost to start an event management company?
The following is a table indicating the cost of starting an event management company at different levels;
Additionally, starting an event management company might compel you to purchase relevant equipment to jumpstart your business. Similarly, you might be compelled to purchase some software that might help you automate some parts of your event and saves time as well.
The events management business is one of the most prolific businesses to start in Dubai. Generally, Dubai is considered a home for endless business opportunities. Therefore, setting up an event management business such as a wedding or a fashion show might do intensively well.
You don’t need to have thousands of money to start an event management company. Once you’re passionate about it, you can get your business running. Similarly, in case you want more guidance on how to start a successful event management business in Dubai, feel free to reach us. We’re the leading business setup company in Dubai providing business setup ideas and services to investors.
Get in touch with us.