What documents are required for KYC in Singapore?

Required KYC documents #

Individuals: #

  • Identity Proof: A valid identity card (for Singaporeans and PRs) or passport (for foreigners).
  • Proof of Residential Address: Recent utility bill, bank statement, or government correspondence dated within the last three months.
  • Certification Requirements: Documents must be certified true copies by a notary public, a registered professional, or in accordance with the institution’s specific requirements.

Politically Exposed Persons (PEPs): #

  • All documents required for individuals.
  • Additional Documentation: Declaration of political exposure, detailing the nature and extent of the political exposure.
  • Source of Funds: Detailed documentation proving the source of funds for the property purchase.
  • Certification Requirements: Due to heightened risk, enhanced scrutiny and additional verification by compliance officers are necessary.

Entities (Corporations, Partnerships, etc.): #

  • Identity Proof: Certificate of Incorporation, business profile from the Accounting and Corporate Regulatory Authority (ACRA).
  • Proof of Operating Address: Recent utility bill or bank statement of the business.
  • List of Directors/Partners: Official list from ACRA or equivalent documentation.
  • List of Beneficial Owners: Holding more than 25% of the company’s shares or voting rights.
  • Certification Requirements: Documents to be certified by the company secretary, director, or an authorized representative from the legal department.
  • Trust Deed or Equivalent Document: Establishing the trust or legal arrangement.
  • Identity Proof for Trustees/Managers: Valid identity card or passport.
  • Proof of Address for Trustees/Managers: As per individuals.
  • List of Beneficiaries: Especially those benefitting from 25% or more of the trust.
  • Certification Requirements: Documents must be certified by a lawyer, notary public, or trustee.

Certification Standards #

  1. Documents must be presented as original or certified true copies.
  2. Certification must be performed by an individual authorised under local laws (e.g., notary public, lawyer, or company officer with delegated authority).
  3. The certifier must sign, date, and indicate their position or authority on the document.
  4. Electronic certifications must comply with local electronic transactions laws ensuring authenticity and integrity.