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123/A, Miranda City Likaoli Prikano, Dope

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+0989 7876 9865 9

+(090) 8765 86543 85

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Singapore RFMC License Application Service

Singapore Registered Fund Management Company (RFMC) License is a permit from Singapore’s government for a business to perform regulated fund management services. RFMC is closely related to LFMC (A/I) regarding the minimum base capital and the type of investors. However, RFMC limits the number of institutional investors that can join the business, at most thirty accredited investors. The Singapore Regulatory Framework requires that every company under RFMC license must have a base capital of at least S$250,000 and a maximum of thirty accredited investors. If your business falls under these specifications, the SFA requires you to get this license to conduct business without legal complications.

Why you need the RFMC License?

Singapore is no secret among the best countries in financial operations. However, there many things that make Singapore exceptional and stand out among the other countries in the financial business. The main reason is the stable regulatory framework. In this case, we are considering the RFMC license, and here are the reasons you need this license.

  • Avoid harsh punishments from the Singapore government: Singapore has set up a stable regulatory framework favouring clients, investors, and customers. As a result, every business performing regulated financial services must comply with the rules. Otherwise, there are heavy punishments like restrictions, fines, imprisonment, and other harsh penalties. So, suppose you are working in this category, ensure that you have this license.
  • Protect your business: With this license, your business can run in the country without legal issues, and you can efficiently deal with fraud and other issues.
  • Why is that? The Monetary Authority of Singapore (MAS) has established rules that protect your business and often assist in challenging situations.
  • Singapore, under the MAS, can keep track of all the RFMC businesses: This registration allows the country to monitor all the companies in this category and set up rules that promote the businesses.

What is the processing time for RFMC License application?

When an applicant applies for the LFMC Retail license, the general processing time is four months, which MAS takes to review and process the application. However, this standard processing time is only applicable for cases where the application is direct with a straightforward business plan. In the case of a complex situation, the processing time may take longer. These facts explain why you need the RFMC License Application service provider like our program. We offer professional help so that you can achieve a smooth application process.

How much is the  the RFMC License fee?

Every RFMC must pay the S$4000 license fee during its registration phase

RFMC License Requirements

What are the RFMC requirements ?

Ability to meet the minimum base capital

MAS requires that every business running regulated financial services under the RFMC entity must have a base capital (minimum amount that a company must have in their account at all times) of at least S$250,000.

Staff Requirements:

Every RFMC business must have a physical office with at least two full-time employees living in Singapore. Also, these workers must have a minimum experience of 5 years in the relevant businesses.

Business Compliance:

MAS doesn’t make it a must for an RFMC to have a compliance sector. However, they must have the necessary compliance programs, either independent compliance or external compliance arrangements. The means they choose depend on the business owner’s preference.

Risk Capital Requirements:

Unlike LFMC, the RFMC entity doesn’t require a business to have the base risk capital; hence MAS can approve your license without risk capital.

Annual Auditing:

After a business receives RFMC license approval, it must perform an internal audit and a yearly MAS audit.

Annual Corporate Fee

For acquiring the registration status or license, MAS requires that every RFMC pay a yearly fee of S$1000.

Business Plans

Ensure that you submit your business models for review so that MAS can understand your business better. It is critical to ensure that these plans are straightforward, brief, but knowledgeable and convey complete business information.

AML/CFT requirements:

As Singapore deals with financial terrorism and Money laundering activities with stringent measures, MAS requires that every business must comply with the Anti-money laundering requirements. Also, they must learn more about their clients.

Annual Compliance

Annual Compliance

Singapore MAS requires that every RFMC must comply with some annual submissions, including:

  • Annual declaration of any critical changes in the business and you must submit it within one month after the financial year ends
  • Annual auditor’s report within five months after the end of the financial year
  • Audited financial reports, including balance sheets and profit and loss, accounts for the last financial year

An RFMC license is a critical detail for every business performing regulated financial activities under the RFMC entity. However, the biggest challenge is the license application process. Our website got you covered on the matter. Visit us today for guidelines during the following procedures


We have a reliable team to consult with as you prepare for the application process. The team will guide you on all the requirements and the documents you must prepare.

Application Filling

Our talented team is ready to fill all the necessary submissions to MAS for you.

Post Licensing Requirement

After your license approval, you don’t have to look for other experts to help you with additional services such as compliance since our team has all these services that you may need.

What is the Difference Between RFMC and LFMC?

The Monetary Authority of Singapore (MAS) regulates fund management companies in Singapore. It requires them to obtain either a Registered Fund Management Company (RFMC) or a Licensed Fund Management Company (LFMC) status, depending on their business activities and the scope of their operations.

  • Registered Fund Management Company (RFMC) : A RFMC is a fund management company that manages private funds, that are only offered to a limited group of investors, namely accredited individual investors or institutional investors. The required base capital is S$250,000.
  • Licensed Fund Management Company (LFMC) : A LFMC is a fund management company manages funds, including retail funds, offered to the general public. LFMCs are subject to more stringent regulatory requirements. They must have a CMS license.

LFMCs must also have a minimum base capital of S$500,000 and demonstrate that their directors, representatives, and shareholders are fit and proper persons.

What Do Accredited Investors a Mean?

In regard to a Registered Fund Management Company (RFMC) in Singapore, an accredited investor refers to an individual or entity assessed by the Monetary Authority of Singapore (MAS) or a financial institution as having a higher level of financial know-how and experience.

Accredited investors can invest in private funds managed by RFMCs, which are unavailable to the general public. One is considered an accredited investor if he meets any or all of the following criteria :

  • Has net personal assets of at least S$2 million, or its equivalent in foreign currency, excluding the value of his or her primary residence;
  • Has net financial assets of at least S$1 million, or its equivalent in foreign currency;
  • Has a total annual income of at least S$300,000, or its equivalent in a foreign currency, in the preceding 12 months; or
  • Entities such as corporations and trusts can also be accredited investors if they meet certain criteria, such as having net assets exceeding S$10 million or being controlled by accredited investors.

Investors are accredited to evaluate their financial knowledge and experience in understanding the risks of investing in private funds and can make informed investment decisions.

Accreditation allows RFMCs to offer private funds to a select group of investors, without the need for extensive regulatory oversight and disclosure requirements. However, accredited investors are still subject to certain regulatory requirements. These include providing written consent for certain investments and being informed of the risks involved.


FAQs about RFMC License Application

An accredited investor is an individual assumed to have the relevant knowledge in the business and have easy access to resources, ensuring that their interests are well-protected. As a result of that, the Singapore Regulatory Framework set up few protection rules. However, these investors give up some regulatory protections that safeguard them.

Consider looking for professionals to help you throughout the entire process, and lucky for you our site is among the top online platforms to get all the RFMC services.

The RFMC license is valid until MAS revokes it or your business fails, according to SFA Section 95. Also, if a company stops operating regulated activities, then MAS will cancel the license

Every business with the RFMC license must pay an annual fee of S$1000 to maintain the registration status

MAS expects that the company conducts an internal audit and an annual MAS audit. However, the company may choose to use an external compliance arrangement or an independent compliance program.

If you fall under the RFMC entity, the license is a must-have unless you want to face legal issues. Therefore, every business owner under this department must register for this license.

Singapore is strict with business compliance and requires every business to meet all the set requirements. However, some business owners fail to follow these rules and face punishments such as banishment, fines, and even imprisonment.

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