The SVF license in Singapore is similar to EMI in Europe. If your activity involves an electronic money issue, a payment system establishment, then it is necessary. The country's legislation does not specify strict requirements for the applicant. When making decisions, the authorized bodies are guided by international standards. The SVF payment license can be one of two types:
The license in Singapore is attractive for businessmen. First, if the daily deposit balance of customers does not exceed 30 000 000 SGD, then you do not fall under the strict control of the regulator, secondly, the Single Purpose SVF license can be obtained within a couple of months, and, finally, it allows working in the Asian region.
A payment license in Singapore is issued only if the company is registered in the country. Residents should be in the position of the director and the shareholder. To register a company for non-residents, they are required to obtain a residence permit. In addition, you need to provide an activity plan and appoint an employee authorized to monitor a compliance with anti-money laundering legislation. There are no requirements submitted for a residence to such person.
Our services allow you to relieve yourself fully of the responsibility for a legal component documentation, such as: registration of the company, obtaining tax numbers for financial activities, compliance with reporting standards, and obtaining a license. Moreover, we will prepare documents and internal instructions necessary for the company registration.
The team of "Prifinance" will help to select an individual solution for a specific request and start the activity without a delay. We are ready to offer a full service for SVF license obtaining in Singapore, as we have a diversified experience of rendering services in the field of payment processing.