Application Procedures to Set Up a Bank Representative Office

Bank representative offices are registered under section 13A of the Banking Act (Cap. 19). A bank representative office may carry out liaison work, market research or feasibility studies, but is not allowed to transact any business in Singapore. The registration of a bank representative office does not imply that the applicant will qualify for a banking licence in future. 

Prospective applicants interested to set up a bank representative office are encouraged to contact the Banking Department of MAS at an early stage to discuss their plans before submitting a formal application. Preliminary consultation with a prospective applicant enables MAS to identify issues that may have a significant bearing on the proposed application.

MAS will evaluate the merits of each application on a case-by-case basis when considering whether to register a bank representative office. The processing time depends on the circumstances of each application and the completeness of information submitted by the applicant to MAS.

For further clarification or enquiry on the establishment of bank representative offices, please contact bd_registry@mas.gov.sg.

Please refer to the document below on the application to set up a Bank Representative Office.

 

Key Resources

Last Modified on 03/05/2019