Open a Financial Company in Singapore

A presentation brought to you by OpenCompanySingapore.com

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The Financial Industry in Singapore

• Singapore is the largest banking and financial network in Southeast Asia.

• It is home to many international

banks, wealth management companies and other financial companies.

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Financial Companies in Singapore

• Financial companies fall under the regulations of the Finance Companies Act in Singapore. 

• They provide fixed and savings deposits to Singapore citizens. 

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Steps to Open a Singapore Financial Company >>

• The registration process for a Singapore company takes very little as it done electronically on the online platform of ACRA.

• There are several steps when registering a financial company with the Singapore Trade Register.

• First, one must choose a name for the company and submitting it for approval.

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>> Steps to Open a Singapore Financial Company

• Once the company is registered with ACRA, it will be required to:

register for the Singapore Goods and Services Tax (GST);

apply for the required business license depending on the activity carried out;

open a corporate bank account;

register with the Central Provident Fund (CPF);

register for the Skills Development Levy (SDL).

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Licenses for Financial Companies in Singapore

• According to the Finance Companies Act, businesses intending to provide financial services in Singapore are required to apply for a single license:

a capital markets services license;

a financial advisers license.

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The Capital Markets License in Singapore

• According to the Futures Act in Singapore, the capital markets license is employed when providing the following financial services:

securities trading in Singapore;

foreign exchange trading;

fund management;

securities financing;

for corporate finance advisors;

Singapore real estate investment trusts.

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The Financial Advisers License in Singapore

• The financial advisers license falls under the regulations of the Financial Advisers Act in Singapore.

• The following services are covered by the financial advisers license:

offering counsel on investment products such as securities, foreign exchange, life insurance policies;

collective investment schemes.

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Assistance in Company Formation in Singapore

• You can rely on our company incorporation agents in Singapore to draft the Articles of Association for opening a financial company.

• You can also contact us for any information regarding company taxation in Singapore.

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Thank you for your attention!

For more information, please contact us at:

+ 852 8191 3385

www.opencompanysingapore.com

office@lawyers-singapore.com

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