Steps to start your sports management company in Dubai, UAE
May 18, 2022
Dubai is known for its love for sports! More than 1 million people view sporting events every year in Dubai. This love for sports translates into huge business opportunities. It’s a fact that sports are a fast growing business environment worth over 50bn USD worldwide. With expert company setup professionals, it’s easy to join this thriving marketplace.
How to set up sports Management Company in Dubai?
Select a company name
First and foremost, you need a company name. While naming make sure to follow certain naming conventions,
Avoid words that are offensive or blasphemous,
While naming your business avoid names of well-known companies and its abbreviations.
With the help of a company setup agent, you can check whether the name is registered or available.
Consider ideal set up
After selecting the name, decide where to start your business, it can be free zone or mainland.
While setting up your business in mainland, you can trade anywhere in UAE directly without any third-party services.
On the other hand, if you’re looking for the cost-effective and economic business setup solutions consider company setup in free zones.
Apply for license
After deciding whether its mainland or free zone, apply for your trade license to start the business,
If you’re choosing mainland, submit your application form to the DED or department of economic development. Similarly, you can submit the application to free zones with the help of company formation experts.
Usually, you should submit,
Completed application form, passport copy, and passport size photos,
Apply for Visa
Next, you need a visa to live and work in UAE. Visa application process is quite straight-forward and most of the company formation agents will assist in this step.
Being a UAE business permit holder, you can assist others for their visas too. The maximum number of visas depends on your company’s size.
Open corporate account
Finally, you need to open an account in the corporate banking services and familiarize yourself with several financial institutions.
Requirements for a corporate bank account,
UAE business license
Citizenship visa from shareholders
Minimum balance between AED 10,000 to AED150,000
A company setup representative helps you in opening the account. The account opens within two to four weeks of the application!
Ready to start your sports management company in UAE
While considering the cost, we have to consider several other factors such as premises, employees, administrative cost, marketing cost, and more. However, you can expect the license cost approximately around AED 10,000 to AED 20,000.
Hope you got a clear idea on sports management company setup. In order to make it fast, avail support from the leading company setup professionals in Dubai or UAE. They help you go through all the steps effortlessly and fulfill the dreams of aspiring entrepreneurs.
New Horizons Business Consultants is a provider of business setup services based in Dubai, United Arab Emirates. It is headed by Francesca Bouwman, who has years of experience in International Business Advisory and fluently speaks several European languages. For more details, call +971 58 500 8643 or email email@example.com