Event management business is a lot of hard work. But it is also a large and rapidly growing business industry in Singapore. Singapore has a reputation as the top international meeting and top international convention city. Thus, it is the preferred city for meetings, events, exhibitions, and conventions.
Event management companies are a lucrative business indeed, given the rapid growth that the industry is experiencing. This excites potential investors’ interests and when they start to consider investing in the industry.
Setting up an event management business in Singapore is not as complicated as you might think. In fact, it is pretty simple and easy. Singapore is one of the top event management hubs in the world for a reason. As a business that manages events, it becomes much easier to get the job done when there’s less paperwork involved and processes are simpler and faster.
To set up an event management business in Singapore, no major business licenses are mandatory for the majority of events which makes things much easier on event organizers. However, for certain types of events, such as animal exhibition events of trade fairs, or arts and crafts events, licenses or permits may be required. This would depend on the nature of the event you organize. So it is advisable to always check beforehand if a license or permit is a must-have or not.
Of course, just like with any other company, you need to incorporate first your business before it can legally commence. Incorporating a company that is private limited would be the most flexible option. Private Limited is the most advanced type of business structure in Singapore. Incorporating a private limited company is simple, uncomplicated and quick; One of the reasons it is such a popular business structure option.
Depending on the type of events or activities you organize, certain events and activities may require certain permits and licenses before they can be held. However, since most of these licenses and permits are only valid for the duration of the event, if you were planning to organize an event again at another time, you would have to reapply for the required licenses and permits again.
Some examples of the types of licenses and permits that may be required depending on the nature of the event include:
Read more about Setting up an Event Management Company in Singapore from 3E Accounting Pte Ltd, Singapore.
For more information on event management business setups and required licenses, get in touch with 3E Accounting Pte Ltd – Corporate Service Provider in Singapore and let our panel of experts answer any queries you may have.