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OfficesIf you are looking to operate in Singapore’s financial services sector, obtaining a Capital Market Services license in Singapore is essential. This license, issued by the Monetary Authority of Singapore (MAS), allows businesses to engage in regulated activities such as fund management, securities financing, and other capital market services under the Securities and Futures Act (SFA).
Capital Markets Intermediaries are licensed under Section 82 of the SFA (Cap. 289) to carry out activities specified in the Second Schedule of the Act. Singapore is an attractive jurisdiction for financial services due to its strong capital and debt markets, stable legal framework, and well-developed financial infrastructure.
Some of the regulated activities under a CMS License in Singapore include dealing in securities, trading in futures contracts, and fund management. At Enterslice, we assist entrepreneurs and businesses in obtaining a Capital Market Services (CMS)License in Singapore seamlessly, enabling them to establish and operate their financial services business efficiently.
Establish credibility and operate with full regulatory authority in Asia's premier financial hub. Secure your Capital Market Services license in Singapore to unlock institutional trust and market access.
The list of benefits of the Capital Market Services license in Singapore is as follows:
One of the primary objectives for obtaining a CMS license in Singapore is to comply with the regulatory standards set by financial authorities. It promotes a standardized and transparent financial ecosystem.
CMS license in Singapore is designed to protect the interests of the investors by ensuring that entities operating in the capital markets comply as per the ethical practices and maintain financial integrity.
The Singapore Capital Markets Services (CMS) License contributes to maintaining the integrity of financial markets, preventing malpractices, and fostering an environment of fairness and trust. It is one of the advantages of Capital Market Services License in Singapore.
Possession of a CMS License in Singapore enhances the credibility of the financial entities as it serves as a mark of professionalism and commitment to upholding regulatory standards.
A firm with a Capital Market Services license in Singapore can provide corporate finance, securities trading and fund management advisory services so that its client base can be broader.
The firm with a Capital Market Services License in Singapore gains access to capital market opportunities with a competitive edge in a dynamic financial hub like Singapore.
The step-by-step process to apply for CMS License in Singapore with Enterslice is as follows:
Initially, before filing an application to the Monetary Authority of Singapore (MAS), the applicant should ensure that the businesses are properly incorporated via company registration in Singapore and follow up with all the necessary arrangements, like opening a corporate bank account for injection of based capital and renting a physical office space if required. It is also crucial to draft an employment contract and business model plans.
Secondly, you need to fill out and submit Form 1 to the MAS. This form covers applications for licensed fund management companies as well as venture capital management. Followed by filing Form 3A to appoint representative(s) for the regulated financial activity that your business will be conducting. While Form 3B is for provisional representatives, Form 3C is for temporary representatives.
The applicant, along with the application form, needs to pay the appropriate application fee, which is fixed at $1,000. This fee is non-refundable. A fee of $200 also applies for each representative lodgement.
Once the application is submitted before the MAS, it will take up to 6 months to review and process the same, provided all the requirements are fulfilled. In case the business model is more complex, then MAS may take a longer time to assess the said application submitted to give the final decision.
Once the MAS is satisfied after reviewing the application, it shall accordingly grant the Capital Market Services license in Singapore and permit the applicant to conduct or operate business in the approved service sector.
Establish Trust & Authority in Asia’s Financial Hub - Apply for Your CMS License Now!
The application checklist for CMS License in Singapore is as follows:
Submission of Form 3A for each representative.
Submission of Form 11 for each director/CEO.
Scanned copies of the audited financial statements (including the auditor's opinion) of the applicant for the past 3 years, where applicable. Where the applicant has yet to undergo an independent audit, attach the unaudited financial statements.
Shareholding chart of the applicant, including all controlling interests.
Organisational chart of the applicant, including the compliance function.
Gain Access to Singapore’s Capital Market Opportunities with a Fully Compliant CMS License in Singapore.
The following people or entity needs to apply for Capital Market Services (CMS)License in Singapore:
The eligibility requirements to obtain a Capital Market Services License in Singapore are as follows-
The list of post Singapore capital markets services (CMS) license compliance is as follows:
The businesses must ensure to comply as per the Prevention of Money Laundering and Countering Financing of Terrorism (AML/CFT) in order to put in place policies and procedures and conduct enterprise-wide assessments.
The licensee must commence its business within 6 months of the date of issue of the CMS license in Singapore. In case the licensee is unable to fulfil this condition, it must notify to MAS. Another condition is that the minimum competency requirements of having 2 directors and appointed representatives shall be maintained.
With extensive experience in financial regulatory compliance, Enterslice offers in-depth expertise in Capital Markets Services (CMS) licensing in Singapore. We simplify the complex MAS licensing process and provide end-to-end support to ensure smooth approval. Explore why Enterslice is the preferred choice for obtaining a CMS License in Singapore:
Obtaining a Capital Market Services (CMS) License in Singapore ensures regulatory compliance with MAS standards while promoting transparency and market integrity. It safeguards investor interests by enforcing ethical practices and financial discipline, thereby building trust in the capital markets.
A CMS license in Singapore also enhances professional credibility, positioning the entity as a reliable and compliant market participant. Additionally, it allows firms to offer a wider range of services such as securities trading, corporate finance, and fund management, while gaining access to diverse capital market opportunities in Singapore’s globally competitive financial ecosystem.
To obtain a CMS License in Singapore, the applicant, its directors, and shareholders must be fit and proper, with a proven management track record. The business must meet the minimum capital requirements under the SFA and maintain strong risk management and compliance systems.
It should have a clear business model, at least two directors, including one Singapore resident, and a CEO with a minimum of 10 years of relevant experience who is a Singapore resident. Additionally, at least two full-time Singapore-based representatives per regulated activity, aged 21 and above, must be appointed.
A Capital Market Services (CMS) License in Singapore is required for entities or individuals engaged in capital markets. This includes clients dealing in capital market products, corporate finance advisors, fund managers, REIT managers, product financing providers, credit rating service providers, and those offering custodial services for securities.
A non-refundable application fee of $1,000 is payable to the Authority for the submission of this application. The application fee is prescribed under Regulation 6 of the Regulations.
Typically, the MAS takes six months to review the application for a Capital Market Services license in Singapore, while the time taken by the applicant to meet the criteria depends on the readiness of the documents. Applications may also take a longer time if the applicant does not fully meet relevant admission criteria, has a unique and complex business model, or does not submit all necessary forms, information and documents in their initial application.
The Capital Market Services license in Singapore is valid until the license stops conducting all the regulated activities under the license, and if the license is cancelled by MAS, or if the license is revoked by MAS.
Unless an applicable exemption is available, engaging in any regulated activity without holding a valid Capital Markets Services (CMS) License is a serious offence. Upon conviction, the person or entity may be liable to a fine of up to S$150,000, imprisonment for a term of up to three years, or both. In the case of a continuing offence, an additional fine of up to S$15,000 for each day or part thereof may also be imposed.
The annual fee obligations to maintain Capital Market Services License in Singapore include an annual fee that can range from S$2,000 to S$8,000, depending on the type of regulated activity you are engaged in. For example, the annual fee for product financing is S$2,000, while the fee for advising on corporate finance is S$4,000.
Also, an annual fee for the representatives is S$5 per representative, applicable from the 101st representative onwards.
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