#PRECIOUS GEMS SINGAPORE REGISTRATION#

Supporting documents to be attached to the application form: Type of precious stones, precious metals and precious products Citizenship or Country/ Region of Incorporation Involved in the management of the applicantģ.

* Information is auto-populated for ACRA registered entities (c) Any lawsuit the person was a party to and (b) Any bankruptcy, insolvency or liquidation (a) Any investigations or convictions for offences related toįraud, dishonesty, money laundering or terrorism financing Citizenship or Country/ Region of Incorporation* Substantial shareholder (if you represent a company)ģ. It may take longer if additional information is required.

#PRECIOUS GEMS SINGAPORE REGISTRATION#

It may take around 4 weeks for the Registrar to process an application for registration before granting the registration.

You can enter multiple outlets per application.

There should only be one application per business entity i.e.

You have updated your business particulars with the Accounting and Corporate Regulatory Authority (' ACRA') so that the updated information can be auto-populated in the application form.

Ensure that you have the Corppass and UEN of the business entity that the Registration Certificate will be issued to.

You may refer to the GoBusiness Licensing Guide for Regulated Dealers for a step-by-step guide to the application process. You may submit your application via the GoBusiness Licensing Portal.

One flagship jewellery outlet in Marina Bay Sands andĪBC Pte Ltd applies for a Class B Certificate of Registration.ĪBC Pte Ltd must pay a total of S$820: Type of Fee.

Regulated dealer “ABC Pte Ltd” has two places of business: The registered dealer is allowed to sell precious stones, precious metals, precious products or asset-backed tokens of any value. The registration is subject to a condition that the net price of every precious stone, precious metal, precious product or asset-backed token that is or is to be sold by the registered dealer be less than S$2,000 a piece. If the Registrar provides in-principle approval for your application, you must pay a registration fee based on the registration tier and the number of outlets operated: Registration Tier Available All payment must be made through GoBusiness Licensing Portal. Regulated dealers must pay an application fee of S$120 to register with the Registrar. Fees and Registering your Place(s) of Business If you are not certain whether you are required to register, you may wish to seek legal advice. Please refer to the PSPM Act for the official definitions. Take this questionnaire to help you ascertain whether you are a regulated dealer.įoreign dealers may refer here on the requirements to register. you carry on a business of regulated dealing in precious stones, precious metals and/or precious products (“ PSPM”), or as an intermediary for regulated dealing in PSPMs.Įxamples of regulated dealers who are required to register include, but are not limited to jewellers, bullion traders, jewellery wholesalers, jewellery retailers, secondhand goods dealers, auction houses, and trading platforms. You are required to register with the Registrar of Regulated Dealers if you are a regulated dealer i.e. You may access the List of Registered Dealers here. Any person who acts as or holds out to be a regulated dealer without being registered or exempted, may face criminal penalties of up to S$75,000 in fine and/or up to 3 years’ imprisonment. You must be registered before you commence any regulated dealing.Įnforcement actions will be conducted to detect unregistered dealers. It is an offence if you act or hold out to be a regulated dealer without being registered or exempted.

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