Licensing and registration for Fund Management Companies

If you are raising money from third party investors as part of a collective investment scheme, or managing investments in segregated accounts in capital market products (e.g. equity, bonds, financial derivatives), you will need to be licensed or registered.

If you are a company managing proprietary monies or monies of a single party of a group of related entities, you may be able to seek exemption from licensing or registration.

FMCs should be Singapore incorporated companies and have a permament physical office in Singapore.

The office premises should be dedicated, secure and accessible only to the FMC's directors and staff.

When assessing an application to be an RFMC, LFMC or VCFM, MAS takes into account factors such as:

• Fitness and propriety of the applicant, its shareholders and directors
• Track record and fund management expertise of the applicant and its parent company or major shareholders
• Ability to meet the minimum financial requirements prescribed under the SFA
• Strength of internal risk management and compliance systems.
• Business model/ plans and projections and the associated risks

In addition, your company would need to operate from a dedicated and secure office space that is accessible only by your company’s directors and staff.

You can commence business operations but not represent yourself as a Fund Management Company. MAS maintains an online directory of RFMCs on its website. Prior to being listed on this directory, an RFMC should not (a) represent itself as being registered with MAS; (b) enter into any investment management agreement; or (c) receive or invest any customer money.