Set up Bank Representative Office
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.
Before You Apply
Prospective applicants interested in setting up a bank representative office are encouraged to contact the Banking Department of MAS about their plans before submitting a formal application.
Discussing the registration requirements at an early stage helps to identify issues that may affect the proposed application.
How to Apply
All applicants are also required to provide confirmation of payment of application fee (e.g. payment advice, bank statement transaction details) when submitting your application form.
How much is the application fee and how do I make payment?
All applicants are required to pay a non-refundable application fee of S$5,000. Payment can be made to MAS Account via Corporate PayNow. Please indicate T08GB0031LAC2 in the UEN field and include BA-APPFEE-DDMMYY in the reference field (where DDMMYY refers to the date of the submission of the application form).
All applications will be processed promptly. The processing time typically takes about one to two months, assuming that all information has been submitted to MAS' satisfaction and the application fee has been duly received by MAS. Actual processing time depends on the circumstances of each application.