Obtaining an SPI license + registering a payment institution in Singapore

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Singapore is one of the leading global business centers with the highest level of economic competitiveness (1st place in the world), supporting FinTech innovations.

The registration of a financial institution, as well as obtaining an SPI license in Singapore opens up great opportunities for doing business in a favorable business environment.

About the license

In accordance with the new Payment Services Bill (PSB), the country's main financial regulator (MAS) provides for the possibility of ordering a license for payment services of 2 types:

  1. Acquiring a Standard Payment Institution license in Singapore;
  2. Obtaining a Major Payment Institution license in Singapore.

Among the key advantages of obtaining a payment institution license, it is worth highlighting:

  • Practically no restrictions on turnover;
  • The availability of a variety of tax benefits;
  • Filing reports once a year.

Persons who intend to register a payment system in Singapore and order a PI license must comply with the following requirements of the regulator:

  • The presence of a local company and a resident director;
  • An authorized capital in the amount of SGD 100 000, subject to opening a payment institution in Singapore and obtaining an SPI license, or SGD 250 000, if you plan to acquire an MPI license in Singapore.

The list is not exhaustive. More information about preparing the necessary package of documents you find out by requesting for personal advice on obtaining a license for a payment service provider in Singapore.

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What is included in the offer

A comprehensive proposal includes the registration of a company + obtaining a license for the provision of payment services in Singapore.

Application consideration period for obtaining a Standard Payment Institution license: from 5-6 months.

Full price: EUR 50 000

Additional possibilities

By turning to our specialists, you can receive legal assistance in preparing a company's business plan or connecting acquiring, as well as other related services.

IQ Decision services

To find out more, we recommend that you order individual advice on obtaining an SPI license in Singapore, as well as legal support in registering a Singapore payment system.

Contacts are listed below.

  • 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.

  • Still have any questions?

    Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.

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