Regulatory Alerts2025-12-01
Minimum Exemption Requirements for Finance and Leasing Business
NBFIRA establishes minimum exemption requirements for finance and leasing businesses, mandating comprehensive legal documentation, P50,000 in sustained financial liquidity, and the appointment of fit-and-proper full-time officers. Applicants must submit complete applications through the RBSS portal, including a detailed business plan, three-year financial projections, and robust AML/CFT policies. The Authority evaluates these submissions within a 90-day window, granting licenses to compliant entities while retaining the right to pause assessments for additional information or reject incomplete filings.
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