Certificate of Exemption (the Moneylenders Act (Cap.188))

For entities which lend money to borrowers for specific purposes.

Ministry of Law (MINLAW)

For Business Users only

This licence is only for business users with a registered Unique Entity Number (UEN).

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Application Details

Application for institutions to hold a Certificate of Exemption to lend money to borrowers for specific or business purposes in Singapore.

Contact details

• https://rom.mlaw.gov.sg/contact-us/
• 1800 2255 529 (Airtime charges may apply to calls made from mobile phones to '1800' local toll-free numbers.)
• For overseas callers, please use +65 6225 5529

FAQs

1. What is the validity of the exemption?
   The exemption is valid for a period up to a maximum of 3 years.
2. Is an exempt moneylender exempted from the Moneylenders Act 2008 and all of its subsidiary legislation?
   In general, an exemption does not extend to the Moneylenders (Prevention of Money Laundering And Financing of Terrorism) Rules 2009, the Unsecured Loans under Part III of the Moneylenders Rules 2009 and Sections 43 to 46 of the Moneylenders Act 2008.
3. Please refer to ageny's site for FAQ
   https://rom.mlaw.gov.sg/information-for-moneylenders/

Additional Information

Fee:
Depending on the business activity exempted, the fees may range from $1,000 to $4,000 per year.

Documents Needed

• Required Documents
  

  Any person may apply under section 91(1) of the Moneylenders Act to exempt his business from all or any of the provisions of the same Act. You may submit an application to the Registry with the following information ready:

  1. A write-up containing:
  1. a brief description of the applicant’s current business activities;
  2. a profile of the applicant, including any experience in moneylending or related business activities; and
  3. the reason(s) for seeking an exemption
  2. A copy of the applicant’s Business Profile issued by ACRA;
  3. The telephone number(s) of the applicant;
  4. A detailed description of each type of activity for which the exemption is sought;
  5. Profile(s) of borrowers;
  6. The interest and fees, if any, which the applicant intends to charge; and
  7. A draft scope of exemption for our consideration

Requirements

Any person may apply under section 91(1) of the Moneylenders Act to exempt his business from all or any of the provisions of the same Act. You may submit an application to the Registry with the following information ready:

1. A write-up containing:
1. a brief description of the applicant’s current business activities;
2. a profile of the applicant, including any experience in moneylending or related business activities; and
3. the reason(s) for seeking an exemption
2. A copy of the applicant’s Business Profile issued by ACRA;
3. The telephone number(s) of the applicant;
4. A detailed description of each type of activity for which the exemption is sought;
5. Profile(s) of borrowers;
6. The interest and fees, if any, which the applicant intends to charge; and
7. A draft scope of exemption for our consideration