Licensing and Authorisation for Banking Business
Financial institutions (FIs) wishing to conduct banking business in Singapore must meet MAS' admission criteria and receive written authorisation from MAS to set up a wholesale bank or merchant bank in Singapore.
- Processing time
- available on the agency's website
- Issuing authority
- MONETARY AUTHORITY OF SINGAPORE (MAS)
Need help applying for this licence?
We handle the full application — document prep, agency liaison, follow-up — alongside your incorporation.
Who needs the Licensing and Authorisation for Banking Business
This licence applies to Singapore businesses registered under the following SSIC industry codes:
- Required to operate64110 — Central bank
Includes: 64110 Central bank
- Required to operate64120 — Full banks
Includes: 64120 Full banks
- Required to operate64130 — Wholesale banks
Includes: 64130 Wholesale banks
- Required to operate64140 — Merchant banks
Includes: 64140 Merchant banks
- Required to operate64150 — Finance companies (with deposit taking functions)
Includes: 64150 Finance companies (with deposit taking functions)
Get a quote — incorporation + this licence
We package this with your company setup so you launch with the licence already approved.