Licensing & Registration in Singapore - Waystone

      Licensing & Registration in Singapore

      Our team has a deep understanding of the rules, guidelines, and processes in relation to obtaining licences and registrations. We follow the process meticulously and assist clients from initial business set up to maintaining all ongoing regulated activities.

      We advise and guide financial institutions such as fund managers, financial advisers, insurance brokers, trust managers and payment services providers on the respective licensing requirements to ensure a smooth application process.

      Our team of compliance professionals can assist with the following:

      • advising on the specific license requirements
      • advising on regulatory capital requirements
      • preparation and submission of application forms
      • negotiating license conditions with authorities
      • preparation of all documentation relating to operations, corporate governance and risk management obligations
      • liaising with local regulators.

      Support services for Responsible Officers and Licensed Representatives

      In addition, we can assist each responsible officer and licensed representative in the following ways:

      • advising on competency requirements and on available waivers (where applicable)
      • assistance to complete and prepare the CVs of licensed representatives
      • liaising with the authorities on the assessment of the ‘fit and proper’ test of licensed representatives.

      Why choose Waystone Compliance Solutions

      We follow the licensing and registration process meticulously and assist clients from initial business set up to maintaining all ongoing regulated activities. Our dedicated team has extensive experience in navigating the complexities of regulatory compliance in Singapore, offering clients peace of mind as they focus on the core aspects of their operations.

      If you would like to discuss your requirements further, please contact our APAC compliance solutions team.

      Obtaining licences in Singapore – how can Waystone help?

      The financial services industry in Singapore is regulated by the Monetary Authority of Singapore (MAS). Any person carrying on a regulated activity is required to be regulated by MAS, unless an applicable exemption from this requirement can be relied upon.

      Setting Up a Fund Management Company in Singapore

      This guide provides a comprehensive overview of the benefits and key requirements of setting up a fund management company in Singapore.

      Payment Services Act

      The Payment Services Act (“PSA”) came into effect in Singapore on 28 January 2020 and streamlines the payment services regulatory framework under a single piece of legislation.