Regulatory Alerts2005-11-21
Added
Notice 807 Licence Fees
The Monetary Authority of Singapore issued this notice to prescribe annual licence fees for finance companies under the Finance Companies Act. Effective 1 April 1995, head offices are required to pay $35,000 while branches located in or outside Singapore must pay $5,000. This directive supersedes previous circulars and notices regarding licence fee structures.
MAS 807 20 January 1984 (updated on 21 Nov 05) NOTICE TO FINANCE COMPANIES FINANCE COMPANIES ACT, CAP 108 1985 Ed BFI(FC) Circular No. FC 5/70 dated 13 March 1970, FC Notice 7 dated 1 November 1973 and MAS 807 dated 1 December 1983 are cancelled. Licence Fees Pursuant to Section 57(2)(a) of the Finance Companies Act, and The Finance Companies (Licence Fees) Regulations, 1994, the Authority prescribes that with effect from 1 April 1995, finance companies shall pay annual licence fees as follows :- (a) Head Office - $ 35,000 (b) Branch in or outside Singapore - $ 5,000 Last modified on 19/3/2007