Who Needs to Register as a Regulated Dealer?
Under the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act, businesses that deal in precious stones, precious metals or precious products in Singapore must register with the Registrar of Regulated Dealers at the Ministry of Law. Precious products are items whose value comes mainly from precious stones or metals, such as fine jewellery and many luxury watches.
- Retail and wholesale jewellers
- Bullion traders
- Auction houses
- Second-hand dealers
- Trading platforms and online marketplaces
- Dealers in asset-backed tokens
Class A or Class B: Which Registration Applies?
Your registration class depends on the value of the items you sell, and fees are charged for each outlet.
| Class A | Class B | |
|---|---|---|
| Suited to | Dealers selling items with a net price of S$2,000 or less | Dealers selling items of any value |
| Annual registration fee | S$250 per outlet | S$350 per outlet |
| Application fee | S$120 per application, one-time | S$120 per application, one-time |
Government fees are paid through GoBusiness. Alder's professional fee is fixed and quoted upfront, based on your number of outlets and the complexity of your business.
What's Included in Our PSPM Registration Service
Everything you need to register and operate compliantly, prepared for your outlets and sales channels.
Free readiness check
Confirms your obligations, registration class and gaps before you commit.
Entity incorporation
If your business isn't incorporated yet, we set it up first.
Internal policies, procedures and controls
Your IPPC, tailored to your risk profile, outlets and sales channels, whether retail, e-commerce or wholesale.
CDD and ECDD forms
Customer onboarding forms and workflows your staff can actually use at the counter.
How Registration Works
Six clear steps, with Alder handling the paperwork and the MinLaw correspondence.
- 1
Free readiness check
We confirm your obligations and registration class.
- 2
Entity incorporation
If needed, we incorporate your company first.
- 3
Document preparation
We draft your compliance and customer onboarding framework.
- 4
GoBusiness submission
We prepare and file your registration application.
- 5
MinLaw liaison
We guide you step by step and handle queries from Ministry of Law officers.
- 6
Post-approval onboarding
We walk your team through the new controls, so you're compliant from the first transaction.
Your Obligations After Registration
Registration is the start of your AML/CFT obligations, not the end. We can support you on an ongoing basis, including as your outsourced compliance officer.
- Perform customer due diligence on designated transactions, such as cash transactions above S$20,000
- File cash transaction reports within the required timeframe
- Report suspicious transactions to the Suspicious Transaction Reporting Office
- Screen customers against sanctions lists
- Keep transaction and due diligence records for at least five years
- Train staff and maintain a designated compliance officer
- Renew your registration annually and keep outlet details up to date
Why Businesses Choose Alder
- Specialists in AML/CFT for PSPM dealers: we turn complex requirements into practical steps for your counter, your warehouse and your website.
- Full handholding: from the GoBusiness submission to answering Registrar queries, you're never left to figure it out alone.
- Policies built for your business: no generic templates. Your IPPC reflects your risk profile, outlets and sales channels.
- Speed with accuracy: a clear document checklist and prompt drafts keep your application moving.
Sales channels we cover
- Retail outlets
- E-commerce
- Wholesale
- Auctions
- Online marketplaces
