Getting into the Singapore media industry needs more than just an idea. Consider how proposed activities fit with the correct category, ownership structure and business model you might need a CMS license application to undertake regulated capital markets activities (like using a distribution license for business development), careful consideration at the planning stage can save headaches down the line.

Define the Activity Before Applying                                                                                                                                      

Don't just use the industry classification because the licensing test is what you are really going to do. If you are providing investment advice, selling capital, markets, products, or managing funds, it may mean more or less licensing requirements. Diagram out each service, each type of client, each source of revenue, then find exclusions and exemptions. Be conservative - if the lines are fuzzy, they will be fuzzy for a reason.

Build an Entity That Fits the Scope

Assuming the founders form a Singapore company whether the entity is capable of meeting the requirements of governance staffing funding, and record-keeping can depend on what activity the company will engage in and the level of that activity. A model with a technology provider may not be suitable for a fund manager, for example, if those activities involve responsible officers, compliance, or capital.

Create business policies and processes for the application. Describe business processes like authorizing decisions, acquiring clients, risk management procedures, and dealing with complaints. Link activities described in the business plan, constitution, or articles of association and licensing documentation.

Checking documentation and compliance

Maintaining proper accounting records and regularly analyzing rules may be beneficial in improving the compliance level of the company and preventing potential issues connected with missing information and errors in data. A legal or business expert in compliance can give suggestions for eliminating errors in documentation.

Conclusion

Integrate company structure and service design in your regulatory planning. Before submitting your CMS license application for your CMS license, ensure your proposed activities, staff, and controls fit the current standards. How your business is scoped will be key to setting up a Singapore company suitable for compliance-led growth and to form a Singapore company correctly.