The concept of “fit and proper” sits at the heart of MAS’s licensing and regulatory framework. Every director, substantial shareholder, chief executive, and MAS-approved representative at a MAS-licensed entity must satisfy MAS’s fit and proper criteria not just at the time of application, but on an ongoing basis throughout their tenure. This guide explains what
For international trading hubs and logistics providers operating in Singapore, maintaining optimal capital liquidity is a constant priority. Under the default import regulations enforced by Singapore Customs and the Inland Revenue Authority of Singapore (IRAS), businesses must pay the prevailing 9% Goods and Services Tax (GST) upfront at the point of importation. This tax is
Under Section 205 of the Singapore Companies Act 1967, the default statutory mandate requires every Singapore-incorporated company to appoint an Accounting and Corporate Regulatory Authority (ACRA) approved public accountant within three months of incorporation to conduct an annual financial audit. For many foreign founders, corporate groups, and asset managers, this requirement introduces substantial operational overhead.
If your organisation’s current data incident response plan was drafted more than a couple of years ago, you are likely exposing your business to severe regulatory penalties. Operating under the outdated assumption that a data breach will not impact your firm is an immediate risk to your corporate continuity under current enforcement rules. Under the
For years, many financial institutions (FIs) in Singapore treated their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) frameworks as a “set and forget” exercise. As long as the Enterprise-Wide Risk Assessment (EWRA) was updated annually and names were run through a screening database, compliance officers felt secure. However, the mid-2025 amendments to MAS
The Variable Capital Company (VCC) framework was launched in Singapore on January 2020 by the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) with the goal of enhancing Singapore’s value proposition as a leading fund management hub. With a VCC structure, funds can enjoy greater operational flexibility and cost savings,
