Moneylender's Licence

Apply for Moneylender’s Licence

Ministry of Law (MINLAW)

For Business Users only

This licence is only for business users with a registered Unique Entity Number (UEN).

Apply on GoBusiness Dashboard

Application Details

For institutions interested in conducting the business of moneylending in Singapore.

The Registry of Moneylenders has temporarily suspended the grant of any new moneylending licences. For more details, please refer to the webpage: https://rom.mlaw.gov.sg/information-for-moneylenders.

Contact details
You may contact the Licensing Officer via the following modes:

• https://rom.mlaw.gov.sg/contact-us/
• 1800 2255 529 (Airtime charges may apply to calls made from mobile phones to '1800' local toll-free numbers.)
• For overseas callers, please use +65 6225 5529

FAQs

1. How long does it take for my application to be processed?
   Estimated processing time is 2 weeks, depending on the complexity of the application and/or submission of documents in support of the application.
2. Please refer to ageny's site for FAQ
   https://rom.mlaw.gov.sg/information-for-moneylenders/

Additional Information

Fee
Application Fee: $600
Licence Fee: $1500
Security Deposit: $20000

For entities which intend to be in the business of moneylending. The above are the upfront fees payable. The application fee of $600 is non-refundable.

Documents Needed

• Documentary Evidence of Funds
  Documentary evidence on the availability and the sources of funds for the moneylending business, i.e. how are the funds accumulated (e.g. copies of bank statements, IR8A for the past years, income slips etc.)
  File format: doc, docx, jpg, pdf, gif
  Maximum upload per application: 7 MB
• Education Qualification and Certificates for Qualified Manager(s)
  Proof of educational qualifications for the test-qualified manager
  File format: doc, docx, jpg, pdf, gif
  Maximum upload per application: 7 MB
• Front and back NRICs of all Person(s) and Annex
  Scanned copies of the NRICs (both front and back of NRICs) of all persons to be involved in the moneylending business
  File format: doc, docx, jpg, pdf, gif
  Maximum upload per application: 7 MB

Requirements

Any other requirements as stipulated in the Moneylenders Act 2008, the Moneylenders Rules 2009 and the Moneylenders (Prevention of Money Laundering and Financing of Terrorism) Rules 2009.