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Singapore is one of the freest economies in the world. With the highest GDP per capita in the world. This is a very attractive country to investors and global organizations due to its attractive investment environment and a stable political environment.
Singapore's economy is mainly based on trade and services (accounting for 40% of national income). Singapore is also seen as a leader in the transition to the knowledge economy.
Financial related services are the services that attract many investors to Singapore and these are also very sought after licenses in this country. At the moment, Singapore has been offering more than 400 licenses in the Payment Service Providers industry.
With a population of 90%, they can speak Chinese and English and geographic advantage. Singapore is one of the great places for businesses to have an influence on Southeast Asia, China, and Australia.
From
US$ 21,000
| Major Payment Institution | From US$ 21,000 | Learn More  |
| Standard Payment Institution | From US$ 21,000 | Learn More |
| Money Changing | From US$ 21,000 | Learn More |
| Licensed Financial Adviser | From US$ 21,000 | Learn More |
| Activity Type | Brief Description |
|---|---|
| Activity A Account Issuance Service | The service of issuing a payment account or any service relating to any operation required for operating a payment account, such as an e-wallet (including certain multi-purpose stored value cards) or a non-bank issued credit card. |
| Activity B Domestic Money Transfer Service | Providing local funds transfer service in Singapore. This includes payment gateway services and payment kiosk services. |
| Activity C Cross-border Money Transfer Service | Providing inbound or outbound remittance service in Singapore. |
| Activity D Merchant Acquisition Service | Providing merchant acquisition service in Singapore where the service provider processes payment transactions from the merchant and processes payment receipts on behalf of the merchant. Usually, the service includes providing a point-of-sale terminal or online payment gateway. |
| Activity E E-money Issuance Service | Issuing e-money to allow the user to pay merchants or transfer to another individual. |
| Activity F Digital Payment Token Service | Buying or selling digital payment tokens (“DPTs”) (commonly known as cryptocurrencies), or providing a platform to allow persons to exchange DPTs. |
| Activity G Money-changing Service | Buying or selling foreign currency notes. |
Getting the right licenses and permits for your business.
Complete your payment in various ways.
One IBC® will help you to list out the necessary documents from government-requirement.
Complete all application forms and verify license is issued
The government agency will check your records and provide additional information if necessary. Then, your License has been approved.
Licensed financial advisers are required to prepare and lodge with MAS a true and fair profit and loss account and a balance sheet made up to the last day of its financial year in accordance with the provisions of the Companies Act (Cap. 50), where applicable. The above documents are to be lodged together with an auditor‘s report in Form 17. In addition, they are required to submit Forms 14, 15, and 16, where applicable. These documents are to be lodged within 5 months, or within such extension of time as may be permitted by MAS, after the end of the financial adviser‘s financial year
The types of services provided by financial planners vary widely. Some planners assess every aspect of their clients' financial profile, including savings, investments, insurance, tax, retirement, and estate planning, and help them develop detailed strategies to meet their financial objectives. Others may call themselves financial planners, but only provide advice on a limited range of products and services.
MAS regulates all financial planning activities related to securities, futures, and insurance. Tax and estate planning activities do not come under our regulatory ambit. Hence, only financial planners who conduct activities regulated under the FAA are required to be licensed as a financial adviser. A financial planner may conduct other activities such as tax planning, but these are not subject to supervision by MAS.
Banks, merchant banks, finance companies, insurance companies, insurance brokers registered under the Insurance Act, holders of a capital markets services license under the Securities and Futures Act (Cap 289). are exempt from holding a financial adviser's license to act as a financial adviser in Singapore in respect of any financial advisory services. Nonetheless, exempt financial advisers and their appointed and provisional representatives are required to comply with the business conduct requirements stipulated in the FAA.
There are four rank levels of ONE IBC® membership. Advance through three elite ranks when you meet qualifying criteria. Enjoy elevated rewards and experiences throughout your journey. Explore the benefits for all levels. Earn and redeem credit points for our services.
Earning points
Earn Credit Points on qualifying purchasing of services. You’ll earn credit Points for every eligible U.S. dollar spent.
Using points
Spend credit points directly for your invoice. 100 credit points = 1 USD.
Referral Program
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We cover the market with an ever-growing network of business and professional partners that we actively support in terms of professional support, sales, and marketing.
We are always proud of being an experienced Financial and Corporate Services provider in the international market. We provide the best and most competitive value to you as valued customers to transform your goals into a solution with a clear action plan. Our Solution, Your Success.
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