Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the MAS decision, including banking and payment rails.
Get an investment license in Singapore.
Southeast Asia's wealth hub: the MAS capital markets services licence under the Securities and Futures Act - fund management from S$1 million base capital at the retail tier with reduced tiers for accredited-investor models, dealing stacked in the same licence, and a 17% tax system with fund incentives built for managers.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Singapore in brief
The programmatic regulator of Asia's fund flows.
Singapore licenses investment business through the capital markets services licence under the Securities and Futures Act, activity by activity: fund management, dealing in capital markets products, custody. Base capital follows the First Schedule - S$1 million for fund management serving retail investors, S$1 million to S$5 million for dealing depending on market membership and clientele, S$1 million for custody - with a reduced tier for managers restricted to accredited and institutional investors, confirmed against the MAS schedule at filing. MAS examines the bench as hard as the balance sheet: directors and representatives with provable track records, resident CEO logic and a compliance function sized to the model.
The commercial case is the flow of money itself: Singapore is where Southeast Asian wealth, global family offices and Asia-allocating funds concentrate, under a regulator whose guidance is programmatic enough to plan against. The tax system completes it - 17% headline corporate tax with partial exemptions, no capital gains tax, one-tier dividends with no withholding, GST-exempt core financial services and fund tax incentive schemes that can take qualifying managed vehicles to negligible effective rates. For portfolio managers, external asset managers serving private banks and fund platforms building Asian books, the CMS licence is the region's working standard. We build the file end to end.
The hub licence: MAS CMS under the SFA - fund management S$1M retail base capital with a reduced accredited-investor tier, dealing S$1M-S$5M, custody S$1M; highest-of rule when stacked; MAS-examined bench.
17% headline, no CGT, one-tier dividends and fund incentives that take qualifying vehicles to negligible rates. Built end to end.
The licence builds
The fund manager - or the dealing house.
One CMS licence, activity-scoped: fund management at the core, dealing and custody added as the model needs. The highest-of rule sets capital when activities stack.
The fund manager. With dealing stacked when needed.
01 - CMS · FUND MANAGEMENT
The manager's licence
Discretionary management of portfolios and collective schemes - S$1 million base capital at the retail tier, the reduced accredited-investor tier where the clientele allows, MAS-examined bench and compliance.
Discretionary management of portfolios and collective schemes - S$1 million base capital at the retail tier, the reduced accredited-investor tier where the clientele allows, MAS-examined bench and compliance.
- ✓Portfolios and fund vehicles
- ✓S$1,000,000 - retail tier
- ✓Reduced A/I-only tier
- ✓Resident directors and CEO logic
- ✓Track-recorded representatives
- ✓Fund incentives for managed vehicles
02 - CMS · DEALING
The dealing firm
Dealing in capital markets products for clients and own book - S$1 million to S$5 million base capital by membership and clientele, client-asset rules in full, stacked with management under the highest-of rule.
Dealing in capital markets products at S$1M-S$5M by model. Client assets segregated, capital per the highest-of rule, one licence.
- ✓Dealing in securities and units
- ✓S$1M-S$5M by model
- ✓Client assets segregated
- ✓Highest-of rule when stacked
- ✓Risk-based capital ongoing
- ✓Custody at S$1M where added
Base capital per the First Schedule to the Financial and Margin Requirements Regulations as of 2026. The accredited-investor tier is confirmed against the MAS schedule at filing.
Why Singapore
Six reasons managers choose the hub.
✓
Where Asian wealth pools
Family offices, private banks and sovereign capital concentrate in Singapore. The client base is resident, not remote.FOs and banks next door.
✓
A programmatic regulator
MAS publishes what it expects and processes against it. The file is an engineering problem, not a lottery.Plan against the published.
✓
Fund incentives that work
Qualifying managed vehicles reach negligible effective rates under the incentive schemes. Manager and fund planned together.Vehicles near zero.
✓
No capital gains tax
Performance economics keep their value - 17% touches fees, not appreciation.Performance stays whole.
✓
The EAM standard
Private banks across Asia clear external asset managers through Singapore licensing. The credential the desks recognise.Desks clear the licence.
✓
Rule-of-law premium
Common-law courts, top-tier sovereign standing and documentation global LPs sign as-is.LPs sign as-is.
How it compares
How Singapore differs from other routes.
The comparison, side by side: the region's programmatic standard. With real capital and a real bench required.
Singapore vs other jurisdictions
| Feature |  Singapore | Other jurisdictions |
|---|---|---|
| Regime | SFA - MAS CMS | Type-stacked or single licences |
| Manager capital | S$1M retail · reduced A/I | HK$100k-€750k spread |
| Taxation | 17% + fund incentives | 8.25%-30% by centre |
| Clientele | SEA wealth + global FOs | Regional pools |
Regime
SingaporeSFA - MAS CMS
Other jurisdictionsType-stacked or single licences
Manager capital
SingaporeS$1M retail · reduced A/I
Other jurisdictionsHK$100k-€750k spread
Taxation
Singapore17% + fund incentives
Other jurisdictions8.25%-30% by centre
Clientele
SingaporeSEA wealth + global FOs
Other jurisdictionsRegional pools
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Singapore | MAS CMS licence | 17% + incentives | S$1M-S$5M base capital |
 Hong Kong | SFC Types 9/4/1 | 8.25%/16.5% · no CGT | HK$100k-HK$5M by model |
 Australia | ASIC AFSL | 30% · 25% base rate | NTA tiers by custody |
 Japan | FSA - IM registration | ≈30% effective | ¥50M · QI route ¥10M |
SingaporeLicense typeMAS CMS licence
Taxation17% + incentives
RequirementsS$1M-S$5M base capital
Hong KongLicense typeSFC Types 9/4/1
Taxation8.25%/16.5% · no CGT
RequirementsHK$100k-HK$5M by model
AustraliaLicense typeASIC AFSL
Taxation30% · 25% base rate
RequirementsNTA tiers by custody
JapanLicense typeFSA - IM registration
Taxation≈30% effective
Requirements¥50M · QI route ¥10M
Before you apply
Requirements for the Singapore licence.Requirements for the licence.
MAS licenses the model it can verify. The checklist below is what a passing application contains.
01
Singapore company. Incorporated locally with a real operating office.
02
Activity perimeter. Fund management, dealing and custody mapped before filing.
03
Base capital - S$1 million retail fund management; S$1M-S$5M dealing by model; reduced A/I tier where it applies.
04
Directors and CEO. Resident leadership with provable capital-markets track records.
05
Appointed representatives. Competent individuals notified for each regulated activity.
06
Fit-and-proper shareholders. Vetted to ultimate-owner level.
07
Business plan. Strategy, clientele and three-year forecasts MAS can interrogate.
08
Compliance and risk. An arrangement sized to the model, independent where scale demands.
09
Client-asset rules. Segregation and custody logic where assets are held.
10
AML/CFT programme. MAS notices compliance with a named officer.
11
Substance. Staff, premises and systems in Singapore from day one.
01
Singapore company, real office.
02
Perimeter mapped first.
03
Capital per schedule row.
04
Resident, tracked leadership.
05
Representatives notified.
06
Shareholders vetted to UBO.
07
Interrogable business plan.
08
Compliance sized to model.
09
Client assets segregated.
10
AML per MAS notices.
11
Substance from day one.
Reflects the SFA and its regulations as of 2026. Licence and annual fees follow the MAS fee schedule. Confirmed at filing.SFA + regulations, as of 2026.
How it works
From first call to the MAS register.
01
Perimeter
Activities, clientele and the capital row fixed. Retail or accredited-investor tier chosen on merit.Tier chosen on merit.
02
Company and bench
Singapore entity, base capital arranged, directors and representatives with accepted track records.Capital and CVs set.
03
The application
The CMS file through MAS channels. Plan, compliance and capital evidence complete at submission.Complete at submission.
04
MAS review
Queries answered on schedule, interviews prepared. The programmatic process run programmatically.Queries on schedule.
05
Licence and launch
Register entry, banking and custody live, fund incentives in place. Managing from the hub.Incentives in place.
Quick facts
RegulatorMAS
FrameworkSFA 2001
Fund management - retailS$1,000,000
A/I-only tierReduced - per schedule
DealingS$1M-S$5M
CustodyS$1,000,000
Realistic timeline6-12 months
Corporate tax17%
Stacked activities take the highest applicable base capital. The perimeter decision is a capital decision.
On the ground in Singapore
Run from our Singapore office.
Prifinance - Singapore
Singapore
Singapore
01
Perimeter and entity
Activities scoped to the real model, company and capital built to the First Schedule row that applies.Scoped with capital.
02
The MAS file
Business plan, compliance arrangement and bench CVs. Complete at filing, defended through queries.Complete at filing.
03
Bench and representatives
Directors, CEO and representatives sourced where gaps exist. Track records MAS accepts.Tracked and resident.
04
Fund and launch
Incentive schemes, vehicle structuring, banking and custody. Manager and fund planned as one.One planned system.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Good to know
Taxation of investment firms in Singapore.
A 17% headline the incentives routinely beat. Manager and fund planned as one system.
17% headline
Corporate tax with partial exemptions on early tranches. The manager's fee income at a rate the region respects.Exemptions on entry.
No capital gains tax
Appreciation and performance value sit outside the charge. The economics that matter to managers stay whole.Gains keep value.
One-tier dividends
No withholding on distributions. Founder and holding structures stack cleanly above the firm.No withholding.
Fund incentive schemes
Qualifying funds under Singapore management reach negligible effective rates. The vehicle layer engineered with the licence.Near-zero vehicles.
GST-exempt core
Financial services sit outside GST; the 9% standard rate touches overheads only.9% on overheads.
Treaties 90+
One of Asia's deepest networks. Cross-border mandates and group flows route cleanly.Asia's deep network.
Tax summary
Corporate tax17%
Capital gains taxNone
Dividend withholdingNone - one-tier
GSTExempt core · 9%
Tax treaties90+
*Figures as of 2026 per IRAS. Fund-incentive eligibility and effective rates are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Singapore company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
Follow Prifinance
Active across our channels.
Singapore · MAS
Launch your investment firm in Singapore with expert support.
Full-service assistance - from incorporation and bench-building to the CMS licence and fund incentives - run through our Singapore office.
Get a consultation →Free legal opinion
Is Singapore the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Singapore investment licence - what clients ask.
What licence does an investment manager need in Singapore?+
A capital markets services licence from MAS under the Securities and Futures Act, scoped to the regulated activities the model performs - fund management at the core, dealing in capital markets products and custody added where needed.
What capital is required?+
Base capital per the First Schedule: S$1 million for fund management at the retail tier, S$1 million to S$5 million for dealing depending on membership and clientele, S$1 million for custody. A reduced tier applies to managers restricted to accredited and institutional investors - confirmed against the MAS schedule at filing.
What happens when activities stack?+
The highest-of rule: a firm licensed for several activities holds the highest applicable base capital, not the sum. Perimeter design is therefore capital design - we scope both together.
Who does MAS expect on the bench?+
Resident leadership with provable capital-markets track records - directors, a CEO the regulator can hold accountable and appointed representatives for each activity. The bench is examined as hard as the balance sheet.
How long does licensing take?+
Realistically 6-12 months including preparation. MAS's process is programmatic: complete files with strong benches move at the fast end, gaps surface as query rounds.
How are Singapore investment firms taxed?+
17% headline corporate tax with partial exemptions, no capital gains tax, one-tier dividends without withholding and GST-exempt core services. Fund tax incentive schemes can take qualifying managed vehicles to negligible effective rates.
What are the fund incentive schemes?+
Singapore's incentive framework exempts qualifying funds managed from Singapore from tax on specified income, subject to conditions on spending, administration and reporting. Manager licence and fund structure are planned as one system to qualify.
What substance does MAS expect?+
A real Singapore operation from day one - premises, resident leadership, staffed compliance and systems in the city. The regulator licenses operations, not letterheads.
Singapore or Hong Kong for the Asian base?+
Twin hubs: Singapore for Southeast Asian wealth, family offices and fund incentives; Hong Kong for Greater China depth and the no-CGT system. Client geography decides - we model both.
Why Prifinance for Singapore?+
Perimeter and capital-row design, a bench MAS accepts and manager-plus-fund structuring in one plan - the file built the way the regulator processes it.
What licence?+
MAS CMS - fund management.
Capital?+
S$1M retail; reduced A/I.
Stacked?+
Highest-of rule.
Bench?+
Resident, tracked CVs.
How long?+
6-12 months realistic.
Taxes?+
17%; no CGT.
Fund schemes?+
Qualifying near zero.
Substance?+
Real ops day one.
Or Hong Kong?+
Geography decides.
Why you?+
Manager + fund as one.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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