The procedure is quite complicated, but it is possible to get it if you address the issue competently. MAS (Monetary Authority of Singapore) sets the following mandatory requirements:  1) A real office in Singapore (yet another argument in favor of substance) 2) A local executive director 3) An officially appointed auditor 4) A reserve capital of SGD 100,000 (guaranteed by the bank or fully contributed) 5) 100% compliance with GFPC criteria (Guidelines on Fit and Properties) 6) Taking into account the interests of society and potential customers 7) A non-refundable registration fee paid in full But it should be borne in mind that the regulator may request any additional documents. Therefore, we recommend that you seek individual advice from our experts.