We have Team of Ex- Appointed Representatives ( under MAS License) and Compliance Experts to guide you
Singapore is among the best countries to do business, primarily in the financial sector. Over the years, it has shown immersive development, even ranking among the top financial hub globally. Why is that? It features a stable regulatory framework under the Monetary Authority of Singapore (MAS) which requires enterprises to get the necessary licenses.
Suppose you have a business in the country which runs under the financial sector, it is likely for you to have to acquire the proper license under MAS. Some of the most popular industries that require a license include:
- Financial companies
- Fund Management companies that can fall under the registered, venture fund, or Licensed category
- Financial advisory firms
- Insurance companies
- Payment Institutions
- Money-changing companies
Why You Need MAS Licensing?
As mentioned earlier, Singapore’s financial sector works under a stable and strict regulatory framework making the licenses necessary. These are reasons why you need the proper permit, depending on your business.
- Convenience: Licenses group business owners depending on their operations, and the government can set up rules that favor each category. Therefore, as you start your financial operations in Singapore, it would be best if you applied for the proper license.
- Avoid heavy penalties: Singapore’s Government has set up severe punishments for non-compliance such as fines, banishment, imprisonment, and others. Ensure that you acquire the proper license to provide various financial services. Suppose you have an issue with a license application; you can seek help from our website for a smooth application process.
- Avoid non-compliance with the regulation: With the proper license, you can operate your business freely without having issues with the rules and regulations hence better performance.
- Monitor the financial sector in the country: As companies acquire these licenses, Singapore can monitor all the operations ensuring proper taxation.
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The license application process is challenging
Most of the licenses under MAS require more details about your company, and you also need knowledge on how to fill up the forms. It may be hard for many newbies who are inexperienced business owners. However, with professional assistance like our consultancy firm, you can guarantee yourself a smooth application process.
Handling of queries from MAS team
In some cases, you may need to engage with the representatives to handle some of the questions. When holding meetings, it is essential to ensure that you give proper answers. Consultancy firms like ours have the best teams that can assist you during MAS License Application Services.
You may need additional information like compliance policies
Many applications will require you to create additional documents such as AML / CFT, Risk Management Framework, Compliance Policies, etc. As a newbie, you may find creating these documents hard, and that is where we come to your rescue. Consultancy firms like ours will offer you a team of talented individuals to assist you during the process
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FAQs about MAS License Application Service
Singapore under the Monetary Authority of Singapore demands that every financial business such as banks, insurance companies, fund management companies, and others must apply for the proper license to offer financial services.
The MAS license is crucial since it helps business owners perform business comfortably with the government's proper security measures.
Singapore is a country run by a stable regulatory framework and requires every business owner in the financial sector to register for the proper permit. It is a must-have permit for all Singapore-based financial businesses for excellent performance.
A consultancy firm like our program is the best place to seek assistance during the application process. We have talented individuals ready to assist you.
Unfortunately, there is no direct reply to this question since the MAS license varies depending on the type of operations you are offering. As a result, requirements defer depending on the type of license that you need for your business.
The MAS license is a permit under Singapore's government via the Monetary Authority of Singapore. There are different types of licenses available depending on the financial services you are offering. Therefore, when you apply for any loan, ensure that it matches your operations.