Setting up a fund management company in Singapore is no small feat. Navigating the requirements for the correct licence and compliance standards can be overwhelming. But don’t worry—understanding how to choose the right fund management licence for your business doesn’t have to be complicated. With the right information, you'll be ready to tackle it head-on and avoid costly missteps.
If you're planning to establish a fund management company, you’re likely already aware that Singapore is one of the most competitive and well-regulated hubs in Asia for financial services. However, the process of obtaining the right licence requires a keen understanding of local regulations and market trends. Let’s break down how to get this right!
When starting a fund management company in Singapore, you’ll need to apply for a fund management licence through the Monetary Authority of Singapore (MAS). The MAS regulates all financial institutions in Singapore, including those offering fund management services.
The type of licence you apply for will depend on the scale and scope of your operations. Here’s a quick overview of the available options:
Selecting the wrong licence can result in compliance issues, hefty fines, or even the revocation of your licence. It’s crucial to understand your business model and ensure that your application aligns with your company’s objectives.
Starting your fund management company involves more than just applying for the right licence. Below are the key requirements you’ll need to address:
Most fund management companies in Singapore are established as private limited companies. To incorporate fund management company, you’ll need to:
A company secretary must be appointed within six months of incorporation. This is a legal requirement, and the secretary must be based in Singapore.
Fund managers must prepare and file audited financial statements with both ACRA and MAS. This is mandatory, even if your company qualifies for exemptions in other areas.
As part of your regulatory compliance, you will need to appoint an external auditor who will review and approve your financial statements.
This depends on a few factors. Here’s a simple breakdown of when each licence might be the best fit for your business:
At Simplified Asia, we understand that managing the regulatory complexities of starting and running a fund management company in Singapore can be daunting. That’s why we offer comprehensive services to help you every step of the way.
We’ll help you navigate the ACRA Bizfile+ portal, ensuring that your company is incorporated smoothly and compliant with all requirements.
As a fund manager, maintaining accurate financial records is crucial. We provide full accounting support, including preparing your audited financial statements and ensuring your accounts are compliant with both ACRA and MAS regulations.
Our corporate secretarial team ensures you meet the legal requirement to appoint a company secretary within six months, as well as maintaining corporate governance standards.
Choosing the right fund management licence for your business is an essential step towards establishing a compliant and successful firm in Singapore. The right support is crucial—so why not leave the details to us?
Contact Simplified Asia today to ensure your fund management company is set up for success, from incorporation to ongoing compliance!
