Jurisdiction Singapore Type of License Money-changing Licensee Money-changing licensees provide only money-changing services Year of Licensing 2011 Office At Singapore Money Exchange Lane (Arcade) in CBD, lease until September 2022 Bank Accounts 2 Local bank accounts Others Clean record with no legal issues Note: Proof of funds required as well as KYC of potential …
Description of the License The CIF being sold is authorized by CySEC to offer the following investment services: Foreign exchange services where these are connected to the provision of investment services Safekeeping and administration of financial instruments, including custodianship and related services Execution of orders on behalf of clients Reception and transmission of orders in …
Details of this Transaction1. The Firm was incorporated in 1999, licensed in late 2010s.2. Shares capital requirement is SGD2,000,000 (about USD1,500,000).3. Liquidity requirement as prescribed by MAS is SGD1,000,000 (about USD750,000)4. Capital Markets Services License include the following permissions: a. Dealing in Capital Markets Products i. Spot Foreign Exchange Contracts for …
Singapore MAS Capital Markets Services (CMS) License Firm Read More »
FCA Permissions: a) Services enabling cash placement on a payment account b) Services enabling cash withdrawals from a payment account c) Execution of payment transactions (not covered by a credit line) d) Execution of payment transactions (covered by a credit line) e) Issuing payment instruments or acquiring payment transactions f) Money remittance A ‘passport’ enables …
Permissible Activities: Major payment institutions are licensed and regulated under the Payment Services Act (“PS Act”) to provide payment services without being subject to the specified thresholds. The thresholds are set out in section 6(5) of the PS Act. In summary, these are: S$3 million monthly transactions for any payment service (other than e-money account …
Singapore MAS Major Payment Institution (MPI) License Read More »