The renewal of the moneylending licence is subject to the good conduct of the licensee. Licensees should have the following documents ready and forward them to the Registry upon notification, no later than one month before the expiry of the licence:

(a) A tenancy agreement for the proposed place of business covering at least a one-year period immediately following the expiry of the existing licence;

(b) A copy of the proof of ownership of the premises in the form of property tax or strata title deed;

(c) A landlord’s approval and the Management Corporation Strata Title (MCST)’s approval (if applicable) for the proposed place of business covering the entire licence period;

(d) A renewed Banker’s Guarantee or Insurance Guarantee for a sum of $20,000, covering the entire licence period; and

(e) A duly completed GIRO application form (for licensees who do not have an existing GIRO arrangement with the Registry for the deduction of $1,500 as the licence fee)

The application for the renewal of the moneylender’s licence will complete at least 2 weeks before the expiry of the existing licence, subject to the submission of requisite information/documents and the payment of the licence fee.

The renewal for approved additional place(s) of business will be processed concurrently with the renewal of moneylender’s licence. The additional licence fee payable for the renewal of approved additional place(s) of business will be $1,500 per annum for every additional place of business.

Do note that the approval of all additional place(s) of business (including renewed approvals) will terminate upon the expiry or revocation of a licence.