- Latest Curriculum Vitae of directors and majority shareholder;
- Last 3 years CPF contribution statements of directors;
- Scanned-coloured copy (both front and back) of ID/passport of directors and majority shareholder;
- Scanned-coloured copy of educational certificate(s) and transcript(s) of directors (the directors should have qualifications higher than or equal to at least 4 GCE ‘O’ Level credit passes);
- Copy of business incorporation profile of company and each of corporate shareholders;
- Last 3 years’ audited financial statements of company;
- The business plan and model of company;
Business plan: Business model, clientele, type of currencies to be transacted, target customers group, estimated remittance volume to each country, funds flow diagram, name of proposed overseas agents (nature of business and whether they are regulated for anti-money laundering and countering of financing terrorism) you intend to deal with in the countries you plan to operate in etc.
- Anti-Money Laundering and Countering the Financing of Terrorism Policy & Procedures and plans for compliance;
Besides putting in place an effective system, including the reporting of suspicious transactions, to help prevent money laundering and terrorist financing, the remittance licensees are required to maintain complete records of all their transactions and perform relevant customer due diligence measures for every remittance transaction.
- If the remittance business is to be conducted with other types of business, please describe the other types of business;
- Details of all other businesses which you have interests in; and
- Details of remittance business any of your family members (parents, siblings, spouse and children) have Interests in.