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Event Management is an act of managing all the events or functions that are occurring in some particular place and time.
Though Event Management has become an old concept in the business world, it has also observed marvelous success during the last few years.
Dubai is a beautiful place and here is a great chance to start an event management company in Dubai. There are many types of events ranging from festivals to team building sessions, from rock concerts to training sessions.
Event management company in Dubai involves proper consultation, arrangement, research, and planning. The most common events include conferences, business events, galas, sporting events, summer camps, meetings, day camps, and university events.
The manager of the event management company in Dubai starts planning by booking of the event at a specific location. Then they do further management involving food and drink, audiovisual needs, entertainment, tours and social programs, overnight accommodations for the guests, and other support services.
Setup Your Business of Event Management In A Day.
An event management company in Dubai is defined as companies promoting and executing their business events, or who are contracted by third parties to design and manage business events.
Decide the Services You Want to Sell
A service is something which is incorporeal like:
If you want to start an event management company in Dubai, choose those services in which you have the majority of your experience and expertise, in which you have a stronghold, and which can generate maximum revenue for you.
Don’t try to be a jack of all trades in your business and sell all the event planning services one can think of. If you have more experience in wedding planning, then wedding planning would be best for you.
Decide Where To Set Up
Your events management company can be located in the Dubai mainland or in one of its free zones. While a free zone location offers tax concessions, full repatriation of profits and a streamlined, easy-to-follow business registration process, a mainland business in Dubai has wider access to clients in and out of the UAE, and offers more options to diversify in the future. With these considerations in mind, an entrepreneur should determine which location would suit his or her business goals before starting a company in Dubai.
Submit Your Desired Trade Name
Before you can apply for a business license, you have to obtain approval for the name of your event management company. For companies in the Dubai mainland, the approval will be issued by the Department of Economic Development, while the relevant regulatory authority will look after the process in a free zone. Each body has its own set of regulations concerning trade names, so it is worth the effort to familiarize yourself with them before submitting your proposal.
Some common regulations (link to Arabic business name blog) include prohibitions against using the names of countries or governments, the names of political or religious organizations and family, tribe and individual names (though exceptions apply). In free zones, trade name rules can get more specific. For example, in Dubai Multi Commodities Centre, special approvals have to be sought for the use of certain words, including ‘Capital’, ‘Commodities’, ‘International’, ‘Middle East’, among others.
Apply For a Trade License To Open an Event Management Company.
This business license will entitle your company to carry out activities ranging from hospitality management to event promotion. However, in the license application, you will have to specify the activities your company will be engaged in. This is an important step that should be completed after carefully drafting a business plan. An events management company set up in Dubai is not permitted to carry out activities that are not explicitly stated in its license, so make sure that there are no accidental omissions. Otherwise, the license will have to be amended, which will cost you both time and money.
The business licensing process is handled by the Department of Economic Development for event management companies opening in the mainland, while those in Dubai’s free zones apply to their respective authorities. Owners have to submit their passport copies and colored photographs, along with a completed application form.
Multiple Visa Options
The flexible visa choices offered by event management licenses are another key aspect of their popularity. Not just can entrepreneurs get their own visa but they have a choice also to applying for more as their business develops and change the requirements. Necessarily, the owner of the event management business can apply for multiple visas.
Easy to Arrange your Corporate Bank Account
Once you have your event management license, opening your corporate bank account is easy and quick. If you have set up your business in the free zone, the concerned authorities are ready to suggest the best bank suited to your requirements – and may even organize branch meetings for your if you want. The people who are established on the mainland, a company set up professional can offer similar services. Or alternatively, you can approach any international or local bank of your choice.
Among many other start-up ideas, the event management business is one of the tops and is hard to beat. To obtain an event management license, the rate is affordable as approx. AED 17,500. For such a business you don’t need an office at the start, and you can hire contract employees as a needs basis. One major advantage as that you don’t need to carry major stock like other business sectors. All you need to do is to plot out the major activities performed and invest minimally.
Naturally, when any industry experiences a boom here in the UAE, there is a raft of entrepreneurs just waiting to dive in and make the most of it. However, while setting up an events company may be easy, making a success of it isn’t. It goes without saying that only the best, most talented, and dedicated entrepreneurs need to apply when it comes to launching an events business in Dubai and the UAE. Provided you have the skills, however, there has never been a better time to take the plunge. Events in the UAE are big business – and only set to get bigger as we get ever closer to the global spectacle that is Expo 2020. Organizations in the Emirates are crying out for events services and expertise – and within just a few short months it could be you that they’re contacting. The event management business is one of the most popular businesses in Dubai. It goes without saying that, only the best and most talented, as well as dedicated entrepreneurs need, apply when it comes to launching event business in Dubai as well as the UAE. To set up an event management business in Dubai, one has to have approvals and licenses which are tricky. Hence it is advisable to appoint an expert who can handle all your legal and technical needs.
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