Singapore: Standard or Major Payment Institution licence (MAS)
In Singapore, a payment business operates under a licence from the Monetary Authority of Singapore (MAS). There are two levels: Standard Payment Institution and Major Payment Institution. The volume processed decides which one applies.
Published on 4 November 2026 · Jason Pivron, director
Two licence levels
The Standard Payment Institution covers the services selected under the Payment Services Act. The Major Payment Institution is for volumes above the thresholds of the standard regime.
A growing business can move from the standard to the major regime: it is better to prepare the file knowing where you are heading. The thresholds and how they are calculated are checked during the scoping call, for your business.
Security and capital
Our catalogue shows, for both levels, a security deposit and capital that depend on the services carried on. They are not included in our prices: they remain the company's.
That is also why both licences are on request: the scope of services sets both the regulator's requirements and the work on the file.
The company that holds the licence
The licence is granted to a Singapore company, usually a Private Limited Company. A director resident in Singapore is mandatory, as is a company secretary: that is the heaviest recurring item, ahead of the registered office itself.
Formation is published at €3,290, in 1 to 5 days according to our profile. Corporate tax is 17%, with reliefs for young companies; nothing here is tax advice.
No renewal, but ongoing follow-up
According to our survey reviewed on 30 September 2026, the licence stands until the authority withdraws it or it is surrendered: nothing to renew. Fees, capital, reporting and supervision carry on every year, however.
The licence is granted by MAS: we build the file and answer its questions, and the decision is the regulator's alone.
Banking
Our assessment of banking access in Singapore: demanding, but excellent once obtained, and a trip is generally necessary. For a payment institution, the bank account is a central part of the file.
Our bank account opening service builds the substance file and presents it to at least two institutions; it is an obligation of means, never of result.
Where to start
The right order: describe the services and expected volumes precisely, choose the licence level, then form the company that will hold it. Every licence is on the licences page.
A free 20-minute call is enough to frame the scope, with a firm quote before signature: book a call.
Frequently asked questions
What is the difference between a Standard and a Major Payment Institution in Singapore?
The Standard Payment Institution covers the services selected under the Payment Services Act; the Major Payment Institution is for volumes above the thresholds of the standard regime.
How much does a payment licence in Singapore cost?
Both levels are on request: the scope of services sets MAS's requirements and the work on the file.
Do you need a Singapore company for the licence?
Yes, with a resident director and a company secretary; formation is published at €3,290.
Does a MAS licence need renewing?
No, it stands until withdrawn or surrendered; fees and obligations carry on every year.