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Singapore is one of the freest economies in the world. With the highest GDP per capita in the world. This is a very attractive country to investors and global organizations due to its attractive investment environment and a stable political environment. Singapore’s economy is mainly based on trade and services (accounting for 40% of national income). Singapore is also seen as a leader in the transition to the knowledge economy.
Financial related services are the services that attract many investors to Singapore and these are also very sought after licenses in this country. At the moment, Singapore has been offering more than 400 licenses in the Payment Service Providers industry.
With a population of 90%, they can speak Chinese and English and geographic advantage. Singapore is one of the great places for businesses to have an influence on Southeast Asia, China, and Australia.
| Major Payment Institution | From US$ 21,000 | Learn More |
| Standard Payment Institution | From US$ 21,000 | Learn More |
| Money Changing | From US$ 21,000 | Learn More |
| Licensed Financial Adviser | From US$ 21,000 | Learn More |
| Activity Type | Brief Description |
|---|---|
| Activity A Account Issuance Service | The service of issuing a payment account or any service relating to any operation required for operating a payment account, such as an e-wallet (including certain multi-purpose stored value cards) or a non-bank issued credit card. |
| Activity B Domestic Money Transfer Service | Providing local funds transfer service in Singapore. This includes payment gateway services and payment kiosk services. |
| Activity C Cross-border Money Transfer Service | Providing inbound or outbound remittance service in Singapore. |
| Activity D Merchant Acquisition Service | Providing merchant acquisition service in Singapore where the service provider processes payment transactions from the merchant and processes payment receipts on behalf of the merchant. Usually, the service includes providing a point-of-sale terminal or online payment gateway. |
| Activity E E-money Issuance Service | Issuing e-money to allow the user to pay merchants or transfer to another individual. |
| Activity F Digital Payment Token Service | Buying or selling digital payment tokens (“DPTs”) (commonly known as cryptocurrencies), or providing a platform to allow persons to exchange DPTs. |
| Activity G Money-changing Service | Buying or selling foreign currency notes. |
Getting the right licenses and permits for your business.
Complete your payment in various ways.
Our specialist team will help you to list out the necessary documents from government-requirement.
Complete all application forms and verify license is issued.
The government agency will check your records and provide additional information if necessary. Then, your License has been approved.
The types of services provided by financial planners vary widely. Some planners assess every aspect of their clients’ financial profile, including savings, investments, insurance, tax, retirement, and estate planning, and help them develop detailed strategies to meet their financial objectives. Others may call themselves financial planners, but only provide advice on a limited range of products and services.
MAS regulates all financial planning activities related to securities, futures, and insurance. Tax and estate planning activities do not come under our regulatory ambit. Hence, only financial planners who conduct activities regulated under the FAA are required to be licensed as a financial adviser. A financial planner may conduct other activities such as tax planning, but these are not subject to supervision by MAS.
