Are you thinking of opening an event management company in Dubai? It is essential to know all the modalities before embarking on this new business venture. The United Arab Emirates has become a real paradise for those looking for an attractive job, but especially for entrepreneurs who want to avoid paying exorbitant taxes.
Events and exhibitions are a major investment in the country, contributing up to US$3.3 billion to the economy. Setting up an event management business in Dubai can be very simple if the requirements are met. The administrative processes for setting up a business are usually quick and uncomplicated. So, here’s what you need to know about event management business setup in Dubai.
How to Start an Event Management Company in Dubai?
Talking about areas of opportunity and career paths in event management is a broad topic, as you can find many different approaches and career plans in the industry. Event entrepreneurship is the most desirable option, as it can be much more profitable and offer a wider variety of approaches. In Dubai, there is a need to organize celebrations, ceremonies, product launches, conferences, and more. The first thing you need for your event management company set up in Dubai is a business license. This license will allow you to develop your business in different fields although some activities are restricted.Activities that are not allowed for an event management company set up in Dubai
- Carrying out civil construction works (stages, scaffolding, or any additional construction work)
- Import or export of goods
- Training activities
- Venue management
- Organizing events without the relevant approvals
Permissible activities for an event management company in Dubai
- Organizing gala events, conventions, product launches, award ceremonies, etc.
- Booking accommodation for attendees
- Selling tickets for events
How To Obtain Your Event Management License in Dubai?
- Specify your project well beforehand
- the company’s purpose
- name
- registered office
- amount of share capital
- identity of the capital contributors
- conditions of capital contributions
- start and end dates of the business year.
- company’s registration documents
- company stamps
- valid proof of address
- original passport with UAE immigration stamp
- copy of the business plan
- personal bank statement and proof of activity (depending on the bank)
Benefits Of Opening an Event Management Business in Dubai
Dubai is not only about good weather and luxury hotels. The economic system of the United Arab Emirates is currently one of the most attractive in the world. Just like when you want to open a company in Switzerland, there are real advantages to setting up a business in the UAE. The territory benefits from minimal financial risk and the greatest advantages are offered to businesses by the absence of:- Income tax
- Capital gains tax
- VAT
- Withholding tax.
- 100% shareholding in the company
- No tax on imported and re-exported goods
- No corporate tax for 50 years
- Possibility of extension
- No income tax on employees
- No limits on hiring foreigners