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Different Licensing Options for Finance Companies
Different Licensing Options for Finance Companies
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Guest
Guest
Aug 05, 2025
6:21 AM
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Singapore is a leading financial hub, offering a variety of licensing options for a finance company in Singapore to operate legally and efficiently. These licenses are regulated by the Monetary Authority of Singapore (MAS) and are tailored to different financial activities.
1. Moneylenders License – Under the Moneylenders Act, this license allows companies to provide unsecured and secured personal loans to individuals. It is highly regulated and typically issued to entities serving local borrowers.
2. Finance Company License – Issued under the Finance Companies Act, this allows a finance company in Singapore to accept deposits and offer loans, hire purchase, and leasing services, primarily to SMEs. A minimum capital requirement applies.
3. Capital Markets Services (CMS) License – For companies involved in fund management, securities dealing, corporate finance advisory, or REIT management. This is required under the Securities and Futures Act.
4. Payment Services License – For businesses providing digital payment services, remittances, or merchant acquisition. It includes the Standard and Major Payment Institution licenses under the Payment Services Act.
5. Bank License – For full-scale banking activities, including deposit-taking and lending. These are typically granted to well-established financial institutions.
Conclusion:
Choosing the right license is vital for any finance company in Singapore. Careful evaluation of your business model and regulatory obligations ensures long-term compliance and success.
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