Singapore - Obtain Moneylender Licence

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Procedure

Step :1
Register as Business Entity:

1. To obtain Moneylenders License, the applicant has to approach the Accounting & Corporate Regulatory Authority (ACRA) for the incorporation and registration of your proposed pawnshop as a company, following link can be used to contact link

Step :2
Moneylenders test:

1. To get the moneylender license, the applicant has to pass in the moneylender’s test.
2. The test will conduct by the Ministry of Law - Registry of Moneylenders.
3. For booking process, the applicant has to use this link
4. The eligibility for this test is given in the “Eligibility” section of this page.
5. A non-refundable test fee $130.

NOTE: it will take 5 to 15mins to complete.

Step:3
Apply online

1. If the applicant has passed in test, the applicant can apply for the moneylender license in Ministry of Law - Registry of Moneylenders link
2. Enter a search “Moneylender license” then click on "Add to selection"> click on "Review and Apply" and then click the "Proceed" button.
3. The applicant has to login with either Singpass app or Singpass Id number and password

   Note: If you do not have an account you can register by clicking on Register for Singpass, read the information marked 1 and 2 and agree to the terms and condition and click on register now, no the next page entry your personal information and submit. You will be issued with you Sing Pass ID number and password.

4. The applicant has to necessary information and submit the required document that are mentioned in “Required Documents” section of this page.
5. After submitting the documents review the application and click submit.
6. The applicant needs to pay a non- refundable fee of $400 via credit or debit card.

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Required Documents

• Identification card of the transferor
• Moneylending company’s recent financial statement
• Copy of property tax
• Two passport size photographs

Office Locations & Contacts

Ministry of Law - Registry of Moneylenders
45 Maxwell Road
07-11 The URA Centre (East Wing)
Singapore 069118
Tel: 1800 2255 529
For overseas callers, please use +65 62255 529
Contact link
Enquiring hours: Monday to Friday: 8:30am to 5:00pm
(Closed on Weekends & Public Holidays)

Eligibility

• Any person who intends to obtain moneylender license are eligible to make this application.

Fees

• A non-refundable test fee $130.
• Applying non- refundable fee of $400

Validity

• The validity is for one year.

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• The processing time for this procedure is takes up to 1day.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicant must complete the application form before submitting. Incomplete applications will not be accepted.
• Applicant must provide genuine information while applying for this procedure.

Required Information

• Name
• Nationality
• Resident Status
• NRIC/FIN/Passport No
• Employment Pass
• Date of Birth
• Gender
• Residential Address
• Residential No
• Mobile No
• email Address
• Educational Qualifications
• Work Experience

Need for the Document

• A money lender is someone who lends small amounts of money at a higher rate of interest.

Information which might help

• Applicant may wish to refer to section 2 of the Moneylenders Act, which sets out the definition of an excluded moneylender. You may wish to seek legal advice on whether your business activity falls within the definition of an excluded moneylender.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

link

Others

More information which might help people.