To obtain a Money Changer License in Singapore, businesses must meet specific eligibility requirements outlined by the Monetary Authority of Singapore (MAS). First, the applicant must be a registered entity in Singapore, typically a private limited company, as sole proprietorships and partnerships are not eligible. The company’s directors, shareholders, and key management must fulfill the “fit and proper” criteria, ensuring they have a clean criminal record, sound financial standing, and relevant experience in financial services. A minimum paid-up capital of SGD 100,000 is required to demonstrate financial stability. Additionally, the business must operate from a physical location, such as a retail or office space, where currency exchange services can be provided. The company is also required to implement robust internal controls, including anti-money laundering (AML) and counter-financing of terrorism (CFT) measures, to prevent illegal activities. Lastly, compliance with MAS guidelines and regulatory standards is mandatory to ensure customer protection and operational integrity. Meeting these criteria is essential for any business seeking to obtain and maintain a Money Changer License in Singapore, allowing it to legally offer foreign currency exchange services.