Singapore Payment Institution License
Introduction:
Delve into the dynamic world of Electronic Money Institutions (EMIs) with the Singapore Payment Institution License. This comprehensive license offers a gateway to a wide range of payment services, positioning your business at the forefront of financial technology in Asia. Our expert team at Swiss Fintech Pro is ready to guide you through the process of incorporation and compliance. Do not hesitate to contact us at connect@swissfintechpro.com for more information on this matter
Our Offer:
Major Payment Institution Overview:
- EU EMI Equivalent: The Singapore Major Payment Institution mirrors the EU EMI license.
- Capital and Security Deposits: You need 250,000 SGD (approx. 162,000 Euros) in capital and a 200,000 SGD (approx. 120,000 Euros) security deposit with the Monetary Authority of Singapore (MAS).
- Local Executive Manager: Appoint at least one executive manager residing in Singapore.
Regulatory Oversight:
- Shareholder and Director Control: Any director or shareholder with over 20% stake faces stringent regulatory scrutiny.
Service Capabilities:
- Versatile Offerings: Provide account issuance, domestic and cross-border money transfer, merchant acquisition, e-money issuance, and digital payment token services.
Our Comprehensive Assistance:
- Company Incorporation: We’ll help establish your Singapore entity.
- License Application: Navigate the Payment Services Act license application with ease.
- Compliance Support: Receive a tailored compliance manual, along with AML/CFT policies and procedures.
- Risk Management Strategy: Develop a robust risk management policy.
Conclusion:
Seize the opportunity to establish a Major Payment Institution in Singapore, a strategic move for any business eyeing the rapidly evolving fintech sector. With our expertise in guiding you through the incorporation, licensing, and compliance processes, your entry into the Singapore financial market will be seamless and efficient. Reach out to us at connect@swissfintechpro.com for personalized support and to embark on this exciting journey.
Do not hesitate to contact us at connect@swissfintechpro.com for more information on the matter of Singapore Payment Institution License
