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Navigating the R1 License in Singapore: A Blueprint for Fund Managers
However, do not DIY this. Budget in legal and compliance fees for the setup. Hire a specialist law firm (WongPartnership, Allen & Gledhill, or a boutique like Gateway Law). r1 license singapore
But what exactly is the R1 License, who needs it, and how do you survive the rigorous application process? Let’s break it down. Under the Securities and Futures Act (SFA), the R1 License refers to the Capital Markets Services License (CMSL) for Fund Management . Navigating the R1 License in Singapore: A Blueprint
You must maintain at least S$250,000 in financial base capital at all times. This is not a "use it for rent" fund; this is risk capital held in the company. But what exactly is the R1 License, who
The R1 is not for the faint of heart, but for serious asset managers, it is the only professional way to play in Asia’s wealthiest sandbox. Disclaimer: This post is for informational purposes only and does not constitute legal advice. You should consult a licensed law firm in Singapore regarding your specific fund structure.
Your fund managers must be Singapore-based. Remote management from New York or London while holding a Singapore license is not allowed.
MAS wants to see your playbook. How do you value assets? How do you handle conflict of interest (e.g., side pockets)? How do you prevent money laundering? You need a robust Compliance Officer (often outsourced to a boutique firm initially). The Application Timeline (The Hard Part) Don't believe anyone who says you can get an R1 in 2 weeks. The standard timeline is 4 to 6 months from submission to approval.