Regulations for Financial Advisory Services

What is the Base Capital Requirement for a CMS Licensed Financial Advisor?


  • If your company only advises others by issuing or promulgating research analyses or research reports concerning investment products, you are required to maintain a minimum base capital of S$250,000. For all other types of Financial Advisers, a minimum base capital of $500,000 (or a minimum of $300,000, with an additional PII of $500,000) is the minimum financial requirement for the grant of a financial adviser licence to the company.

    Thereafter, the continuing financial requirement is the higher of ¼ of relevant annual expenditure of the immediately preceding financial year; or $150,000. This is to be maintained on an ongoing basis by the company.