Obtaining a License
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.
Integrated Support of “Prifinance”
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.
The issuer’s license for electronic money allows:
- merchant services provision;
- electronic money issue;
- electronic wallets opening, mobile wallets;
- prepaid cards issue;
- provision of other financial services.
Working with us, you will receive:
- a license to issue electronic money in the world;
- a customer’s account in a Singapore bank;
- consulting on doing business;
- recommendations to maintain the license;
- support of the company’s activities after the license obtaining.
Features of SVF License in Singapore:
- jurisdiction known worldwide;
- balance on customer’s accounts 30.000.000 SGD (≈21 000 000 USD);
- no restrictions on the electronic money turnover.
Our Services Include:
- collection and preparation of necessary documents for the company registration in Singapore;
- registration of a company in Singapore in accordance with requirements of Monetory Authority of Singapore (MAS) for financial institutions;
- filing an application with the regulator on the company’s registration as a Wide Accepted SVF company;
- registration of the company in FATCA, a receipt of Global Intermediary tax number;
- Identification Number GIIN (mandatory for companies performing financial activities in Singapore);
- preparation of AML / KYC procedures in accordance with MAS requirements;
- audit of the company’s website for compliance with the regulator’s requirements.