Informational only, not legal advice. Verify with qualified counsel before acting. Full disclaimer

Pin and benchmark

Pin the jurisdiction you are leaning towards, then line up to 5 rivals against it. Every unlocked figure shows where a peer beats it or loses to it on capital, timeline, cost and difficulty, so one screen tells you whether your first choice actually holds up.

Compare against (up to 5)

Tip: tick more peers to widen the comparison. Your pinned jurisdiction cannot also be a peer. Changes apply automatically a moment after your last tick.

Dimension Pinned
🇸🇬 Singapore analogue partly open
Verified 2026-07-03
🇦🇪 United Arab Emirates (Dubai - VARA) analogue partly open
Verified 2026-07-03
Licence type No EMI. Major Payment Institution (MPI) licence under the Payment Services Act, covering e-money issuance and account issuance. Standard PI for smaller volumes. No EMI. Stored Value Facility (SVF) licence and Retail Payment Services under the Retail Payment Services and Card Schemes Regulation, federal.
Regulator Monetary Authority of Singapore (MAS).
Verified 2026-07-03 Source: MAS
Central Bank of the UAE (CBUAE). Separate from Dubai VARA, which regulates crypto.
Verified 2026-07-03 Source: CBUAE
Capital requirement Singapore capital requirement is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) capital requirement is locked. Unlock with the £349 pass.
Timeline to authorisation Singapore timeline to authorisation is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) timeline to authorisation is locked. Unlock with the £349 pass.
Local substance Singapore local substance is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) local substance is locked. Unlock with the £349 pass.
Application cost Singapore application cost is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) application cost is locked. Unlock with the £349 pass.
Ongoing cost Singapore ongoing cost is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) ongoing cost is locked. Unlock with the £349 pass.
Passporting Singapore passporting is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) passporting is locked. Unlock with the £349 pass.
EMIs authorised Singapore emis authorised is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) emis authorised is locked. Unlock with the £349 pass.
Key restrictions Singapore key restrictions is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) key restrictions is locked. Unlock with the £349 pass.
Safeguarding Singapore safeguarding is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) safeguarding is locked. Unlock with the £349 pass.
Recent changes Continuing MAS refinements to the PSA.
Verified 2026-07-02 Source: MAS
Transition deadline 16 Sep 2026 for in-scope entities.
Difficulty rating Singapore difficulty rating is locked. Unlock with the £349 pass. United Arab Emirates (Dubai - VARA) difficulty rating is locked. Unlock with the £349 pass.

Unlock the money rows of this benchmark

Capital, timeline, costs, substance, passporting, restrictions and difficulty for your pinned jurisdiction and every peer, with the deltas that show where each one wins or loses. One-off Founder Pass (£349) or Pro with change alerts.

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Informational only, not legal advice. A delta compares the sortable figure only (capital, timeline, cost, difficulty, passporting, approvals); it is not a judgement on overall suitability. Verify with qualified counsel before acting.