Start your business effortlessly in the UAE from the UK with Shuraa, your trusted expert for Starting an Event Management Company in Dubai. Dubai is famous for its events worldwide. Moreover, Dubai’s nightlife and high-income potential excite foreign investors to start an event management company in Dubai. As per stats, events in DWTC (Dubai World Trade Center) contribute about 3.28 Billion to the economy of Dubai. Further, events in Dubai have seen an annual growth of 25% in recent years.
Whether it is a sporting event, the Grand Dubai Expo, or a cultural spectacle, organising events in Dubai are worth earning. Therefore, if you are a UK investor, entrepreneur, or businessman, opening an event management business in Dubai is a beneficial choice for you. Do read the blog till the end to know about everything related to the profitable event management business in Dubai.
Benefits of Starting an Event Management Company in Dubai
Are you a UK investor looking forward to starting an event management company in Dubai? Here is a list of the top 6 benefits one can enjoy on opening an event company in Dubai.
1. Low-Risk Business
An event management company in Dubai ranges from small to long term investments. A UK entrepreneur can open his/her event organising company with a minimum capital too. There is no need to invest in things like- office space, business equipment or any fixed costs. The downside business risk in an event organising company is always low.
2. Repeat Customers
Dubai being the hub of exciting and large events opens gates for UK investors to enjoy repeat customers in their event management businesses. Event organising involves a lot of communication, politeness and a positive relationship with clients. Therefore, it is easier for event management businesses to get repeat customers in Dubai.
Moreover, corporate events can be the highest repeated customers for you, if your business does well.
3. Huge Industry For Events
Event organising companies enjoy an effective rate of growth. The majority of foreign investors invest in event organising setups to fulfil the needs of the growing developed city- Dubai. People get physically and emotionally linked with good event management companies. Well, it only needs a team effort to conduct such events.
4. Multiple Visa Options
Flexible visa choices are available for UK investors in Dubai. Visas can be easily availed by the event organising licenses. This is one of the major reasons for the popularity of the event management business among UK investors. Any UK entrepreneur or investor can quickly avail their visa and have the booming opportunity to apply for more according to their company growth and needs.
5. Location Accessibility
Dubai has amazing locations and has smooth accessibility to resources. Starting an event management business in Dubai can offer significant benefits as Dubai gets corporate individuals and visitors from around the globe.
Many companies in Dubai rely on good event management companies to arrange ceremonies, events, and conferences and thus offer an excellent choice to UK investors for starting an event organising company in Dubai.
6. Endless Income Scope
Irrespective of what time of the year is, Dubai has always had something happening. It offers great opportunities to UK investors to start an event organising company and earn money. With multitude of events happening in Dubai throughout the year, there is a lot of business opportunity.
How to Start an Event Management Company in Dubai?
To start an event management company in Dubai, you need to get licenses and approvals from legal authorities. From deciding on a business name to the smooth running of the company, here is a step-by-step process that any UK entrepreneur can follow to establish an event management company in Dubai:
1. Select Your Business Activity
Make a layout of the kind of business activities you like to carry out within your event management company. The event activities can be wedding planning, party organising, fashion events, organising meetings, exhibitions, conferences, etc.
Pro tip: Try to choose the services in which you have a stronghold and the ones that can make maximum profits for you. Avoid being a jack of all trades, rather stay on the safer side and offer services that can be best for you.
2. Select a Company Name
UK investors or entrepreneurs need to follow rules on naming the event management company. Your company name should be attractive, have never been used before, do not hurt any religion, and must not be an abbreviation.
3. Select the Right Jurisdiction
Choosing the business jurisdiction is necessary before getting it licensed. You are free to Start the event management company in Dubai across two zones, i.e. Mainland and Freezone.
Mainland companies can be a direct business with local markets. Whereas, in a free zone, a UK investor may set up an event-based company and carry out services as many he/she wishes, but needs to specify the company activities while undertaking a business license.
4. Apply For a License
You need to approach DED (Department of Economic Development) to avail the event management license in Dubai. Any foreign investor needs to submit an application form, needed documents, and paperwork for starting an event management business in Dubai.
5. Bank Account & Visa Application
Lastly, you should have a visa for yourself, your partners or any employees in order to open a business account. Moreover, the number of visas you require depends on the kind of license and the size of your event management company in Dubai.
Documents Required To Start Event Management Business
The required documents that a UK investor, businessman, or entrepreneur must have for an event management business set up in Dubai are
- Passport copies of shareholders.
- Visa page or Entry stamp.
- Passport size Photograph.
Cost of Setting Up an Event Management Company in Dubai
The Cost of Setting up an Event Management Company in Dubai varies from around AED 14,900 to AED 20,000. Moreover, there is no need for upfront paid share capital for event businesses in the mainland area or any of Dubai’s free zones.
Conclusion
Event management businesses are one of the most profitable business options for foreign investors in Dubai. Any UK investor cannot ask for a more favorable business location than what Dubai offers. So, wait for no further and plan to start your new venture in Dubai.
For concerns relating to how to start the event management company in Dubai, you can reach out to our business consultant at the Shuraa UK Branch.