Stored Value Facility in Singapore

The SVF license in Singapore is similar to EMI in Europe. If your activity involves an electronic money issue, a payment license 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.

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.
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