EN#0143 – Singapore payment license-exempt for sale
A payment services license-exempt entity in Singapore regulated by the Monetary Authority of Singapore (MAS) is available for sale.
This entity in Singapore is a Payment Services Act (PSA) license Exempt Company currently holding the following Payment Services License exemptions:
- Providing account issuance service
- Service of issuing a payment account or any service relating to any operation required for operating a payment account, such as an e-wallet (including certain multi-purpose stored value cards) or a non-bank issued credit card
- Issuing e-money where the total float held by the e-money issuer does not exceed SGD $30 million
- Issuing e-money in Singapore allows the user to pay merchants or transfer to another individual/company
- Providing digital payment token services
- Buying or selling digital payment tokens (commonly known as cryptocurrencies), or providing a platform (crypto exchange) to allow persons to exchange digital payment tokens in Singapore.
In addition, the purchase includes:
- DBS Multicurrency Bank Account
- List of financial and business activities over the last three years
- One round of amendments of paperwork to fit the buyer’s business model and specifications
- All Payment Service Act applications including:
- Business Plan
- Company Policy Control Sheet
- Technology Risk Management System + T Overview + Various Related Documents
- Compliance Manuals + Various Related Documents
- Financial Forecast
- Legal Opinion for tokens to be listed (up to 5)
- Paperwork and payment for licence application also includes activity for Cross Border Money Transfer (remittance business
- The license application fees have been settled but the fees for the issuance of the license have not.
The license application fees have been settled but the fees for the issuance of the license have not.
For further information on the sale of this MAS regulated payment license-exempt in Singapore, please contact our Mergers & Acquisitions team at info@salvusfunds.com; more entities for sale can be found within our Entity Acquisition or Sale service.
