Singapore is one of the most popular jurisdictions for the creation and conduct of foreign business. This state is considered one of the world's largest financial centers, so registering a company in Singapore is a decision, that can positively affect the increase in your capital. One of the most popular in Singapore is obtaining a license for financial services in Singapore.
If you are interested in providing financial services in Singapore, the regulator is the Singaporean MAS (Monetary Authority of Singapore). At the moment, obtaining a license to provide financial services in Singapore is mandatory and necessary.
Financial advisors in Singapore are licensed under the Financial Advisor Act. They can provide a full range of financial advisory services, as indicated in the second schedule of the Law on Financial Advisers, with the appropriate license of financial advisors. Currently, these services include: investment product advisory services, issuance of investment product research reports, marketing of any collective investment schemes. If you plan to provide the above activities, our competent lawyers will be able to help to obtain a license as a financial advisor in Singapore.
Financial companies are licensed and regulated by the Financial Companies Act. The work of financial companies in Singapore is focused on the provision of fixed and savings deposits, as well as credit services for individuals and corporations.
If you want to apply for a license in Singapore, at the top we described which services you have the right to provide. But companies cannot offer deposit accounts, that are payable on demand by a check, the project or an order.
As a rule, Singaporean financial companies, wishing to apply for a license to provide financial services in Singapore, should not offer lending services to any person or group of individuals, who collectively exceed $5,000.
Financial companies are not permitted to engage in any foreign currency, gold or other precious metals, or to purchase shares, stocks or securities denominated in foreign currency. They can expand the scope of activities subject to MAS approval.
Lawyers of IQ Decision will provide professional advice in obtaining a license for financial services in Singapore.
The information outlined in the article is actual at the time of its publication.
Please refer to our specialists for checking possible solutions for your business.
Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.