MONETARY AUTHORITY OF SINGAPORE (MAS)
MONETARY AUTHORITY OF SINGAPORE issues 11 business licences and permits in Singapore. Each one below targets a specific industry, activity, or premises type — click through for the full reference: validity, processing time, prerequisites, and which SSIC industry codes it applies to.
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All MAS licences
Application for Bank Representative Office
The Application for Bank Representative Office is required by the Monetary Authority of Singapore (MAS) for foreign banks wishing to establish a liaison office in Singapore. This office can conduct market research and feasibility studies but cannot engage in any business transactions. Validity is agency-confirmed, with processing times available on the MAS website.
Approved Clearing House (ACH) or Recognised Clearing House (RCH)
The Approved Clearing House (ACH) or Recognised Clearing House (RCH) licence is issued by the Monetary Authority of Singapore (MAS) for companies wishing to operate a clearing facility under the Securities and Futures Act 2001. Validity is confirmed by the agency, with processing times available on the MAS website.
Approved Exchange (AE) or Recognised Market Operator (RMO)
The Approved Exchange (AE) or Recognised Market Operator (RMO) licence is issued by the Monetary Authority of Singapore (MAS) for entities operating as exchanges or market operators. The validity is confirmed by the agency, and processing times can be found on the MAS website.
Capital Markets Services Licence
The Capital Markets Services Licence is issued by the Monetary Authority of Singapore (MAS) for businesses engaging in regulated activities such as dealing in securities, fund management, and providing custodial services. Validity is agency-confirmed, with processing times available on the MAS website.
Financial Adviser's Licence
The Financial Adviser's Licence is required by the Monetary Authority of Singapore (MAS) for companies wishing to conduct regulated activities under the Financial Advisers Act 2001 (FAA). The validity period is confirmed by the agency, and processing time details can be found on the MAS website.
Insurer and Insurance Broker Licence
The Insurer and Insurance Broker Licence is required by the Monetary Authority of Singapore (MAS) for entities engaging in insurance activities, including insurers and insurance brokers. The validity period is confirmed by the agency, and processing times can be found on the MAS website.
Licensing and Authorisation for Banking Business
The Licensing and Authorisation for Banking Business is required by the Monetary Authority of Singapore (MAS) for financial institutions wishing to conduct banking business in Singapore, including setting up wholesale or merchant banks. Validity is agency-confirmed, with processing time available on the MAS website.
Major Payment Institution Licence
The Major Payment Institution Licence is issued by the Monetary Authority of Singapore (MAS) for businesses providing payment services exceeding specified thresholds under the Payment Services Act. Validity is agency-confirmed, with processing times available on the MAS website.
Money-Changing Licence
The Money-Changing Licence is required by the Monetary Authority of Singapore (MAS) for businesses that wish to conduct money-changing services, specifically the buying or selling of foreign currency notes. The validity period is confirmed by the agency, and processing times can be found on the MAS website.
Standard Payment Institution Licence
The Standard Payment Institution Licence is issued by the Monetary Authority of Singapore (MAS) for entities providing payment services below specified thresholds under the Payment Services Act. Validity is confirmed by the agency, and processing times can be found on the MAS website.
Trust Business Licence
The Trust Business Licence is required by the Monetary Authority of Singapore (MAS) for companies providing trust services, such as creating or administering express trusts. The validity of the licence is confirmed by the agency, and processing time can be found on the MAS website.