The business of event management has seen a boom in recent times, with a global market valuation of USD 936.14 billion in 2023, the event management industry is set to reach USD 1.76 trillion by 2029, growing at a CAGR of 11.06%. Taking a look at these numbers, it is clear that this industry sees a promising growth trajectory and the same is true for the industry in Dubai. With a year-round event calendar that includes several trade shows, expos, galas, sporting events, and more, Dubai’s event landscape is always evolving.
If you seek to establish a company that flawlessly plans and executes events on par with global standards in Dubai, read on to find out more about everything you need to do to get up and running in this promising market.
NAVIGATING THE LICENSING PROCESS
Much like setting up any business in Dubai, establishing an event management company begins with the licensing process. Here is a step-by-step overview of the licensing procedure.
Step 1: Define Your Business Activities
Begin by defining your business activities as Dubai allows various activities to take place under an event management license. Your activities must align with the goals and capabilities of your business
Step 2: Choose a Unique Business Name
The name of your business must reflect your company’s brand identity, subject to approval by the relevant authorities.
Step 3: Decide on Your Business Location
In terms of where you want to set up shop, you may choose from mainland Dubai or inside one of the many free zones in Dubai. Each option comes with its own set of advantages and limitations.
Step 4: Submit Your License Application
Once you’ve completed the three steps above, you must submit a license application to the Department of Economic Development (DED) if you choose the mainland, or the relevant free zone as they have their departments for licensing.
Step 5: Fulfill Documentation Requirements
You will be required to submit several documents together with the license application. Prepare all necessary paperwork, such as business plans, passport copies, and more.
Step 6: Pay License and Registration Fees
Be prepared to pay the license and registration fees. These costs vary based on your business location, selected activities, and specific requirements.
Step 7: Apply for Visas and Open a Corporate Bank Account
After your license comes through, you may proceed to apply for visas and open a corporate bank account.
The Event Management Licensing Timeline
The duration of the licensing process may vary based on your business location, the completeness of your application, and any other additional administrative procedures.
Here is a general timeline to help you navigate the event management licensing process:
Day 1
Submit the application form with the required documentation and make the necessary payments.
Day 3
Receive the trade license from the relevant authority, and a scanned copy of the original will be sent to you via email.
Day 6
Obtain the original trade license, Articles of Incorporation, Certificate of Incorporation, Share Certificate, and Lease Agreement (if applicable).
Day 14
Obtain pre-approval from Immigration to proceed with the Immigration card application.
Day 17
Receive your company’s Immigration card. E-channel registration is initiated.
ENSURING COMPLIANCE AND SUCCESS
Understanding Legal and Regulatory Obligations
To succeed as an event management company in Dubai, you will have to stay compliant with a set of legal and regulatory obligations.
Here are some key legal and regulatory considerations:
Business License
Your company must hold the appropriate business license, which specifies the activities you are allowed to carry out.
Permit for Events
Organizing events may require event-specific permits, whether it be a concert, wedding, or trade show.
Health and Safety Regulations
Dubai prioritizes the safety and well-being of its residents and visitors. Comply with health and safety regulations to create a secure environment for your event attendees.
Marketing and Advertising
Ensure that your marketing materials and advertising campaigns adhere to relevant advertising standards and that you acquire the necessary approvals.
Operational Considerations for Event Management Businesses
To thrive in Dubai’s event management industry, several operational considerations can make a world of difference:
- Nurture creativity and develop unique event concepts
- Build robust relationships with vendors, venues, and suppliers
- Efficient planning, coupled with strict adherence to timelines
- Craft a comprehensive marketing strategy
- Offer exceptional customer service
- Tailor-made solutions and consistent over-delivery of client expectations
- Specialize in specific niches
- Invest in continuous professional development
- Foster a robust local network within the industry
EVENT MANAGEMENT LICENSE SERVICES IN DUBAI
If you seek professional guidance on the pathway to setting up a successful event management company in Dubai, reaching out to the consultants at SetHub will prove to be beneficial. From consultation to handling all documentation and paperwork, SetHub provides an end-to-end service to its clients, allowing you to catalyze the business setup process.
Choose SetHub to simplify what can otherwise be a complex process. By working with SetHub, you will also gain a partner for the long run as we will remain committed to making your event management company flourish in Dubai.
