Incorporating an iGaming business in Singapore involves a structured process designed to meet all regulatory requirements efficiently. By understanding the steps involved, you can avoid unnecessary delays and ensure a smooth setup.
Step 1: Preparation and Submission of Documents
The journey begins with thorough preparation. MGL uses its regulatory expertise to ensure all documents meet Singapore's legal standards for iGaming businesses.
You’ll need to provide key documents, including valid passports for directors and shareholders, proof of residential addresses (dated within the last three months), and a comprehensive business plan outlining your iGaming operations. Australian clients should also ensure compliance with both Australian and Singaporean regulations.
A critical part of this step is reserving your company name. Singapore's Accounting and Corporate Regulatory Authority (ACRA) requires names to be unique and follow specific guidelines. MGL handles the name reservation process, often securing approval within 24 to 48 hours.
Another essential task is drafting your company's constitution and memorandum of association. These documents outline the scope of your business, share structure, and operational framework. For iGaming companies, it’s vital to ensure the constitution covers all planned gaming activities while allowing flexibility for future growth.
Certain documents may also require authentication or notarisation, especially for foreign directors. MGL oversees this process to ensure everything aligns with Singapore’s legal requirements before submission to ACRA. Once submitted, the focus shifts to compliance checks.
Step 2: Compliance and Due Diligence
After submitting your documentation, the compliance phase begins. ACRA conducts due diligence to verify that directors and shareholders meet the required standards.
This stage includes anti-money laundering (AML) and know-your-customer (KYC) checks, which are particularly stringent for iGaming businesses. Regulators will scrutinise the source of funds and the legitimacy of the business model. MGL helps prepare detailed compliance documentation to address these concerns effectively.
Another requirement is the appointment of a company secretary within six months of incorporation. This role is crucial under Singapore law, as the secretary is responsible for maintaining statutory records and ensuring ongoing compliance.
During this phase, MGL also begins preparing for banking compliance. Singaporean banks have rigorous standards, especially for iGaming businesses. MGL creates customised banking packages to address regulatory concerns and facilitates the account opening process once incorporation is completed. With compliance checks cleared, the process moves to the final approval stage.
Step 3: Final Approval and Company Activation
Once ACRA approves your application - usually within one to two business days - MGL completes the registration process and begins setting up banking and operational systems. ACRA issues your company's registration certificate and business profile, which serve as official proof of incorporation and are essential for various business activities.
The next steps include finalising your company seal, bank accounts, and accounting systems. MGL ensures these are completed promptly so your business can start operations without delay. For iGaming companies, this stage often includes preparing for gaming licence applications, which require an active Singapore company to proceed.
Post-incorporation compliance becomes an ongoing responsibility. This includes maintaining statutory registers, filing annual returns, and meeting tax obligations. MGL provides continued support to help Australian clients navigate Singapore’s regulatory requirements while staying compliant with Australian laws.
The final activation also involves setting up operational infrastructure, such as multi-currency banking facilities and payment processing systems. These are critical for iGaming businesses with international operations. MGL's network of partners ensures you have access to tailored banking solutions designed to meet the unique needs of your business.
.jpg)
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.
If you have any questions
If you have any questions
Heading 1
Heading 2
Heading 3
Heading 4
Heading 5
Heading 6
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
Block quote
Ordered list
- Item 1
- Item 2
- Item 3
Unordered list
- Item A
- Item B
- Item C
Bold text
Emphasis
Superscript
Subscript
.png)
