Standard & Major Payment institution licence

Major Payment Institution licence: Admission criteria


  • According to MAS (Pages)
    last revised on 26 June 2020

    The criteria are as follows:

    • The applicant must be a Singapore-incorporated company or a foreign corporation registered in Singapore.
    • The applicant must have a permanent place of business or registered office.
    • The applicant must have a minimum base capital of S$250,000.
    • The applicant's board of directors should have either:
      • at least 1 executive director who is a Singapore Citizen or Singapore Permanent Resident
      • at least 1 non-executive director who is a Singapore Citizen or Singapore Permanent Resident and at least 1 executive director who is a Singapore Employment Pass Holder.