In order to become authorized, recognized, licensed or registered to carry out regulated activities in Singapore, an applicant for authorization must satisfy the relevant regulator that it meets certain requirements. For regulated financial services, the relevant regulator is primarily the MAS. The requirements, which may be set out in primary or subsidiary legislation, notices, directions or guidelines, vary, depending on the type of activity the applicant intends to carry out.

Broadly, however, the following conditions will likely need to be satisfied:

• Location of offices – Companies seeking a license must establish and operate out of a Singapore office. In addition, such companies may be required to appoint a chief executive officer and/or a director who is a resident in Singapore.
• Adequate resources – Generally, the MAS will prescribe a minimum capital or financial requirement for financial institutions applying to carry out regulated activities in Singapore. For some activities, professional indemnity insurance is either required or strongly encouraged.
• Suitability – The MAS will consider whether the applicant, its officers, directors and shareholders are fit and proper to carry out regulated activities in Singapore. The criteria for considering whether they are fit and proper include, but are not limited to: honesty, integrity and reputation; competence and capability; and financial soundness.
• Experience – The MAS may also consider the applicant's track record and whether its directors and representatives have relevant experience. Where the applicant is a foreign company, the MAS will also consider whether it is subject to proper supervision by a recognized home regulatory authority.