Licensed Fund Management Company
License for managing crypto investment funds and portfolios including hedge funds and alternative investment vehicles with digital token exposure.
Securities and Futures Act (SFA) Part 7, MAS Fund Management Guidelines
Capital Required
SGD 250,000 to SGD 1,000,000 depending on investor type
Timeline
3-6 months
Fees
SGD 5,000-10,000 application + SGD 5,000-15,000 annual
Regulatory Body
Monetary Authority of Singapore (MAS)
Legislative Framework
Payment Services Act 2019 (PSA), Securities and Futures Act (SFA), Financial Services and Markets Act 2022 (FSMA), MAS Technology Risk Management Guidelines
Last updated: July 2025
Key Requirements
Minimum SGD 250,000 capital (accredited investor) or SGD 1,000,000 (retail investor) with independent certification
Dedicated fund manager approved as Responsible Officer with SFA Qualified Fund Manager competency
Fund strategy documentation detailing crypto exposure limits, leverage restrictions, and risk framework
Qualified custodian or administrator arrangements with MAS-licensed institutions for fund accounting
Comprehensive fund prospectus with clear fee structures, risk disclosures, and performance fee methodologies
Professional indemnity insurance with SGD 500,000-2,000,000 depending on fund size and strategy
Board oversight or governance structure for multi-class funds with investor representation
Annual independent audits of fund accounts and quarterly investor reporting with NAV and performance metrics
Application Process
Submit fund management company license application specifying fund strategies and investor classes
Provide fund documentation including prospectus, investment policy, and custody/administration agreements
Nominate Responsible Officer and submit regulatory approvals and fit-and-proper declarations
MAS preliminary review and in-principle approval confirmation
Finalize fund setup including investor agreements, custodian arrangements, and operational procedures
MAS issuance of license with conditions on fund reporting and investor protection measures
Expected Total Timeline
3-6 months
Ongoing Obligations
After obtaining your Licensed Fund Management Company, these are the continuing compliance requirements you must maintain.
Quarterly fund reporting including asset composition, performance metrics, and investor transaction activity
Annual independent audit of fund financial statements and investment performance to MAS standards
Quarterly investor valuations and distribution statements with reconciliation to custodian records
Annual compliance certifications regarding investment restrictions and fee calculations
Immediate notification to MAS of significant investment decisions outside policy parameters or material events
Maintain professional indemnity insurance continuously and notify MAS of material coverage changes
Cost Summary
Capital Requirement
SGD 250,000 to SGD 1,000,000 depending on investor type
Application & Licensing Fees
SGD 5,000-10,000 application + SGD 5,000-15,000 annual
Jurisdiction Setup Cost
$40,000-$120,000
Annual: $60,000-$150,000
Other Singapore Licenses
Explore other license types available in Singapore.
Major Payment Institution License
Standard Payment Institution License
Capital Markets Services License
Stablecoin Issuer Framework
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