64924

Money-lending

classLevel 4Use for ACRA Registration

This sub-class includes: - money lending outside the banking system - personal loan companies

SSIC Guide

Licences & Permits

2 licences apply to businesses in this SSIC code depending on the specific activities you conduct. Most are activity-triggered — a holding company in 64, for example, only needs a Banking Licence if it actually conducts banking.

Required for activityMINLAW

Certificate of Exemption (the Moneylenders Act (Cap.188))

Validity
The exemption is valid for a period up to a maximum of 3 years
Processing
NA
Prerequisites (12)
  • Required documents:
  • Any person may apply under section 91(1) of the Moneylenders Act to exempt his business from all or any of the provisions of the same Act. You may submit an application to the Registry with the following information ready:
  • A write-up containing:
  • a brief description of the applicant’s current business activities;
  • a profile of the applicant, including any experience in moneylending or related business activities; and
  • the reason(s) for seeking an exemption
  • A copy of the applicant’s Business Profile issued by ACRA;
  • The telephone number(s) of the applicant;
  • A detailed description of each type of activity for which the exemption is sought;
  • Profile(s) of borrowers;
  • The interest and fees, if any, which the applicant intends to charge; and
  • A draft scope of exemption for our consideration
Full reference: how to apply, FAQ, prerequisites
Required for activityMINLAW

Moneylender's Licence

Validity
1 year
Processing
2 weeks, depending on the complexity of the application and/or submission of documents in support of the application
Prerequisites (12)
  • Documentary Evidence of Funds
  • Documentary evidence on the availability and the sources of funds for the moneylending business, i.e. how are the funds accumulated (e.g. copies of bank statements, IR8A for the past years, income slips etc.)
  • File format: doc, docx, jpg, pdf, gif
  • Maximum upload per attachment: 7 MB
  • Education Qualification and Certificates for Qualified Manager(s)
  • Proof of educational qualifications for the test-qualified manager
  • File format: doc, docx, jpg, pdf, gif
  • Maximum upload per attachment: 7 MB
  • Front and back NRICs of all Person(s)
  • Scanned copies of the NRICs (both front and back of NRICs) of all persons to be involved in the moneylending business
  • File format: doc, docx, jpg, pdf, gif
  • Maximum upload per attachment: 7 MB
Full reference: how to apply, FAQ, prerequisites

Need help with these licences?

We handle the applications, document prep, and agency liaison end-to-end.

Licence requirements change — we keep this list current as part of the engagement.

Tax Incentives & Schemes

2 schemes that businesses in this SSIC code may qualify for. Eligibility is case-by-case — talk to the relevant authority.

Tax exemptionIRASPTE

Partial Tax Exemption (PTE)

Benefit: First SGD 10,000: 75% exemption; next SGD 190,000: 50% exemption. Available to all companies (including those past their 3-year SUTE window).

Eligibility: Singapore tax-resident company.

Tax exemptionIRASSUTE

Start-Up Tax Exemption (SUTE)

Benefit: First SGD 100,000 of chargeable income: 75% exemption; next SGD 100,000: 50% exemption. For each of the first 3 YAs after incorporation.

Eligibility: Newly incorporated SG-resident company, ≤ 20 individual shareholders (or one corporate holding ≥ 10%), not in investment-holding or property-development.

Note for SSIC : Excludes 64202 investment holding & 41001/68101 property development

Worth applying for any of these?

We screen eligibility and shape the application — most schemes are discretionary and need a substantive activity case.

Foreign Worker Levies

This SSIC code falls under MOM's Services sector for foreign-worker levy purposes. Levies below apply per worker per month, paid by the employer in addition to salary.

S Pass

TierMonthlyConditions
Tier 1SGD 550Up to 10% of total workforce

Work Permit

TierMonthlyConditions
Higher-skilled (Tier 1)SGD 300Up to 10%
Basic (Tier 1)SGD 450Up to 10%
Basic (Tier 2)SGD 60010–25%
Basic (Tier 3)SGD 800>25% (up to DRC of 35%)

Hiring foreign workers in this sector?

We handle Work Permit, S Pass, and EP applications alongside the incorporation — and check Dependency Ratio Ceilings before you commit headcount.

Levies and Dependency Ratio Ceilings are reviewed periodically by MOM (rates above effective 2024-09-01).

Classification Path

Section
L-FINANCIAL AND INSURANCE ACTIVITIES
Division
64-FINANCIAL SERVICE ACTIVITIES (EXCEPT INSURANCE AND PENSION FUNDING)
Group
649-OTHER FINANCIAL SERVICES ACTIVITIES (EXCEPT INSURANCE AND PENSION FUNDING ACTIVITIES)
Current class
64924-Money-lending

Need help choosing?

Our guide helps you find the right SSIC code for your business activity.

Read the SSIC Guide