Singapore legislation
Regulation 3
Regulation 3
Licence fees
Subregulation 1
The annual licence fee payable by a bank under sections 8(1) and 13(1) of the Act for each calendar year or part of a calendar year shall be as follows:
in respect of a full banking licence —
for the head office of a bank incorporated in Singapore or the main office in Singapore of a bank incorporated outside Singapore $125,000;
for each branch of a bank in Singapore, other than a limited purpose branch $10,000; and
for each limited purpose branch $1,000;
in respect of a wholesale banking licence —
for the head office of a bank incorporated in Singapore or the main office in Singapore of a bank incorporated outside Singapore $100,000; and
for each limited purpose branch $1,000.(c)[Deleted by S 164/2019 wef 01/04/2019]
Subregulation 2
The annual licence fee payable by a merchant bank under section 8(1) of the Act as applied by section 55ZB(1) of the Act for each calendar year or part of a calendar year is $35,000.
Subregulation 3
The Authority may waive or refund, wholly or in part, any fee mentioned in sub-paragraph (1) or (2).