Financial Services in Asia-Pacific with MAS Authorisation
The Monetary Authority of Singapore's regulations establish the most advanced Asia-Pacific framework for financial services, combining European regulatory rigour with Asian pragmatism. Operating without MAS authorisation in Singapore carries severe penalties: unlimited fines, criminal liability for directors, permanent ban from the financial sector and exclusion from the most important Asian hub. At Paynfinity, we don't just handle registrations; we set up your MAS authorisation complete with strategic regulatory capital, governance framework tailored to Singaporean standards, certified internal control systems and investor protection procedures designed to pass scrutiny by systemic stability supervisors.
We analyse your financial services model (fund management, wealth management, capital markets services, payment services, digital banking) to structure the exact MAS authorisation you need. We assess specific CMS licences, capital requirements based on financial resource base, local governance structures and customer profile to implement a MAS-defensible operation. No off-the-shelf solutions: we deliver a scalable MAS infrastructure, with verifiable Asia-Pacific recognition and ready to operate financial services in Singapore with full regulatory compliance and active institutional banking from day one.
MAS Solutions for Each Financial Service
Not all regulated financial services face the same scrutiny from MAS; there is an exact compliance architecture for your business. We design the structure that Singaporean supervisors and Asia-Pacific markets demand, ensuring that your operations meet institutional standards without regional operating restrictions.
Authorisation MAS Capital Markets
MAS classifies CMS licences according to Regulated Activities and capital base. We structure your application by optimising initial capital: from SGD 250,000 (£140,000) for fund management to SGD 1.5M (£850,000) for full capital markets services with simultaneous dealing, underwriting and custody according to the specific requirements of each regulated activity.
We implemented authorisation with automatic recognition in ASEAN markets (Malaysia, Thailand, Indonesia, Vietnam, Philippines) under the ASEAN CIS Framework and Asia-Pacific regulatory collaboration, facilitating regional expansion without multiple licences.
Banking Singapore Tier-1 Guaranteed
Unlike traditional consultancies, at Paynfinity we ensure real MAS-regulated banking operations. We don't just deliver a registration; we guarantee account opening in tier-1 Singaporean banks (DBS, UOB, OCBC), segregated client accounts according to SFA requirements, integration with CDP (Central Depository) and access to SGX to operate from day one with full Asian financial infrastructure.
MAS Complete Infrastructure Ready to Operate
Governance Framework MAS-Compliant
We developed a governance framework according to MAS Guidelines: Board composition with independent directors, certified Executive Officers, Risk Management Committee, Audit Committee, independent compliance function, internal audit and internal control systems with segregation of duties. All documented according to MAS standards with auditable evidence for regulatory inspections.
Client Asset Segregation SFA
We implement segregation of assets according to the Securities and Futures Act: separate client trust accounts, daily reconciliation, certified custodian arrangements, safe custody arrangements and client money handling procedures. We include safeguarding systems for payment services with equivalent protection and quarterly audits by recognised MAS firms.
Official MAS Authorisation
We obtain your official CMS licence with the Monetary Authority of Singapore, specific regulated activities (dealing, fund management, advising, custody), public MAS Register registration, approval of Certified Representatives and Executive Officers. All documented with managed renewals, automated regulatory reporting and active ongoing monitoring.
Technology Risk Management
We deliver Technology Risk Management framework according to MAS TRM Guidelines: certified cybersecurity controls, business continuity, disaster recovery, data protection PDPA, systems availability 99.9% and semi-annual penetration testing. We include compliance dashboards with automatic vulnerability alerts and a complete audit trail for regulatory inspections.
Key questions about your MAS Authorisation
We know that obtaining an international financial licence creates uncertainty. Here we answer critical questions about deadlines, requirements and compliance before you start. No small print.
What is the minimum share capital required for a full MAS authorisation?
Capital varies according to regulated activities under the Capital Markets Services (CMS) License. Fund Management (RFMC) requires SGD 250,000 (£140,000). Dealing in Securities requires SGD 500,000 (£280,000). Full CMS License with dealing, underwriting, advising and custody requires SGD 1.5M (£850,000). Payment Services: Major Payment Institution requires SGD 250,000, Standard PI requires SGD 100,000. Digital Banking: Digital Full Bank License SGD 1.5 billion (£850M), Digital Wholesale Bank SGD 100M. In addition, must maintain additional financial resources base as per risk-weighted assets, Professional Indemnity Insurance (SGD 1M-10M) and demonstrate 12 months of operational runway.
How does a MAS CMS licence differ from an RFMC licence?
RFMC (Registered Fund Management Company) is a specific category for asset managers who only manage funds without dealing, advising or custody. Requires SGD 250,000 capital, simplified compliance, ideal for pure fund managers. CMS License (Capital Markets Services) is full authorisation allowing multiple simultaneous regulated activities: dealing in securities, fund management, advising on corporate finance, custody, underwriting. Requires SGD 500K-1.5M depending on combination of activities, more robust governance, Representatives certified by CMFAS exams. RFMC is entry-level for asset management; CMS is full-service financial institution authorisation.
Is it mandatory to have a physical office and local staff in Singapore?
Yes, MAS requires actual establishment in Singapore: registered physical office (not virtual office), genuine operational presence, at least 2 Singapore-resident Executive Officers (one must be CEO/Director), local CMFAS-certified representatives, local compliance officer and sufficient operations team. MAS audits actual substance through on-site inspections and may revoke licence if it detects brass plate without genuine operation. In addition, it requires minimum 50% from the Board as Singapore residents for certain licences. Recommended minimum: 4-6 Singapore-based employees from start-up, verifiable CBD office, local IT systems operational.
How long does it take to obtain MAS authorisation and what are the unique Asian requirements?
Typical MAS process: 9-15 months from application to approval. Phases similar to FCA but with particularities: (1) Pre-consultation with recommended MAS (2-3 months), (2) Application via MAS Portal with fees SGD 10,000-50,000, (3) Assessment 6-12 months with multiple clarification rounds, (4) In-principle approval conditional, (5) Final license after fulfilling conditions. Unique requirements Asia: CMFAS exams mandatory for Representatives (Module 1A, 5, 6 depending on activities), local Executive Officers with track record in Asian markets, governance adapted to MAS expectations (more prescriptive than FCA principles-based), MAS-specific Technology Risk Management framework. MAS favours track record in Asian markets over Western experience only.