Your fund managers must be Singapore-based. Remote management from New York or London while holding a Singapore license is not allowed.
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. r1 license singapore
You need at least two full-time directors with at least 5 years of relevant experience in fund management. Crucially, at least one of these directors must be a CEO/Executive Director based in Singapore. Your fund managers must be Singapore-based
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). Disclaimer: This post is for informational purposes only
Singapore has solidified its status as a global asset management hub, housing over $4 trillion in assets under management (AUM). For any firm looking to manage investor funds from this financial powerhouse, the Monetary Authority of Singapore (MAS) requires a license. If you are starting small or managing only sophisticated investors, the R1 License (CMSL for Fund Management) is likely your entry ticket.
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.