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

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

This licence applies to Singapore businesses registered under the following SSIC industry codes:

• Required to operate64924 — Money-lending

  Includes: 64924 Money-lending

Items the applicant typically needs ready before submitting:

• 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