Investing as a Singapore Investor

Modified on Thu, 12 Oct, 2023 at 6:23 AM

If you are a Singapore citizen – and you do not have an ITIN – we will require additional information in order to process your investments.

Please note that credit cards are often declined for Singapore investors. For this reason, we strongly reccomend sending all funds by wire transfer only.

TIN for Singapore Investors

Singapore citizens and permanent residents are issued a “Tax Reference Number” by the Inland Revenue Authority of Singapore (IRAS). This 9-digit number can be found on your National Registration Identity Card (NRIC). Please use this number for any field asking for a social security number.

Business entities are given a “Unique Entity Number” (UEN) by government agencies such as the Accounting and Corporate Regulatory Authority (ACRA) of Singapore.

Because the UEN is often a 10-digit number, please use 000-00-0000 for any fields requesting an EIN or entity tax identification number.

Investing with Retirement Accounts for Singapore Investors

The Supplementary Retirement Scheme (SRS) is a voluntary saving scheme that complements Singaporean's CPF savings for retirement.

The Scheme is open to everyone living in Singapore. This means that Citizens, Permanent Residents, and Foreigners are all allowed to open an SRS account. Other than increasing one’s retirement nest egg, contributing to the SRS account also allows you to reduce your income tax bill. [source]

However, we have not seen any evidence that these funds can be invested in the private investment opportunities listed on Equifund.

AML/KYC For Singapore Investors

As a reminder, all non-US investors are required to submit additional documentation for identity verification.

In order to expedite the AML/KYC check, please upload the following documents to your account prior to making an investment, or immediately after doing so:

  • A valid government-issued identification: state-issued identification card, driver's license, or federally-issued passport are accepted. Military IDs are not accepted.

  • Proof of address (in English): Must be a utility bill, bank statement, or letter from a government agency, dated within the last 90 days.

Please be advised. That all proof of address documentation must be in English. For investors whose native language is not English, they may request an official translation of any accepted document, or otherwise request an “address verification” document from a financial institution in English.

The easiest way to get this done is to ask your bank for a document, on letterhead, stating something to the effect of "We certify that [Name of Investor] lives at [Address]"

Please be advised that we cannot legally process your transaction without these documents.

For more information on our AML/KYC policies – along with a step-by-step walkthrough on how to upload your documents – please refer to our knowledge base.

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