This article details documents that are required for organisations to open an account with Airwallex if your business is registered in Singapore.
Verification, known as KYC or ‘Know your customer’, is a process that is required by regulators to offer financial services to organisations and individuals. It involves reviewing and maintaining information on parties that use our financial services.
As a Singapore Company account, you need to prepare the documents below:
- Partnership Disclosure & Declaration Form (if applicable)
- Ownership Structure Chart (if applicable)
- Authorisation Letter Template (if applicable)
- Financial Institution Onboarding Questionnaire (if applicable)
- Live Streaming Questionnaire (if applicable)
- Online Marketplace Onboarding Questionnaire (if applicable)
- Source of Wealth Attestation (if applicable)
- ID of UBO (if applicable)
- ID of Authorised Person (if applicable)
- Individual Address Proof (if applicable)
Please ensure the image is clear and readable. The file shall not exceed over 10MB, limited to {PDF, Word, JPG, JPEG, PNG, BMP}
Company Information
Partnership Disclosure & Declaration Form
Please provide a copy of your partnership agreement and make sure the agreement clearly indicates each partner's capital contribution to the partnership (in percentage).
Click here to download the PARTNERSHIP DISCLOSURE & DECLARATION FORM template
Ownership Structure Chart
If the ownership structure of your business could NOT be fully identified through reliable source, please provide us with the most recent shareholder register or ownership diagram that meets the following requirements:
- Full Legal Name and shareholding percentage of the Ultimate Beneficial Owner (any individuals holding with 25% or more ownership share or voting rights);
- Registration country and shareholding percentage of each intermediary shareholding entity;
- If there are no individual Ultimate Beneficial Owner, then please declare in the shareholding structure and provide information of the key controller;
- The document should be signed and dated by a director along with his/her printed name; the director's signature can be provided either in handwritten or electronic way (e.g. DocuSign; Adobe Sign);
- The signed document should be issued within 12 months and could not be altered or edited.
Click here to download the example of Ochart
Sample:
Authorisation Letter
If you are not a director or ultimate beneficiary owner (UBO) of the business registered in Singapore, we require that you provide a letter stating you have the authority to act on behalf of the company.
Note: The letter should be signed and dated by a director of your company.
Click here to download the Authorisation Letter Template
If your business has multiple legal entities that are registered in different countries/regions and would like to onboard them all at once, you may use this Global Authorisation Letter Template, instead of using a separate template per each country/region.
Click here to download the Global Authorisation Letter Template
If you are a channel partner opening an account on behalf of your client, please use this Authorisation Letter Template instead.
Note: The letter should be signed and dated by a director of the company you are representing.
Click here to download the Authorisation Letter Template for channel partners
Financial Institution Onboarding Questionnaire
If your company is a Financial Institution, please follow the guidelines to input the Questionnaire below:
Click here to download the Financial Institution Onboarding Questionnaire
Investment Onboarding Questionnaire
If the Airwallex account is for a company that will engage in investment activities, please complete the following questionnaire and provide all requested supporting documents
Click here to download the Investment Onboarding Questionnaire
Live Streaming Questionnaire
Click here to download the Live Streaming Questionnaire
Online Marketplace Onboarding Questionnaire
Click here to download the Online Marketplace Onboarding Questionnaire
Source of Wealth Attestation
Click here to download the Source of Wealth Attestation
Personal Information
Ultimate Beneficial Owner (UBO)
The "Ultimate Beneficial Owner" of a legal entity is thus:
- one who holds 25% or more of share capital; or
- one who exercises 25% or more of the voting rights; or
- one who exercises ultimate control over the management of the corporation
Authorised Person
An Authorised Person is authorised to act on behalf of the business.
Personal ID
Please provide images for government-issued, official photo ID, such as passport, national ID or Driver's licence (if applicable).
Note: Please keep the ID photo clear, with complete edges, no occlusion, no reflection, no watermark, etc. and, it is recommended to lay the document flat and shoot vertically in a well-lit place.
Some valid ID examples are provided below:
- Passport - All Countries
2. National ID - e.g.
Singapore National Registration Identification Card (NRIC)
Hong Kong Permanent Identity Card
Chinese Resident Identity Card
Malaysia National Registration Identity Card (MyKad)
Singapore Driving License
Individual Address Proof
The address proof is required for both UBO and PPTA. If the authorised person is none of the directors of your entity, please provide the address proof of the authorised person.
The common acceptable address proof will be either of the following in Latin Characters:
- Singapore National Registration Identity Card (SG NRIC) containing the address
- Bank statement
- Utility bill
- Current lease agreement
- Resident Permit
- A written declaration from the passport/ID holder that the address on the Passport/ID is the latest current residential address
And they should be:
- Recent (less than 6 months old for bank statements and utility bills)
- Must show name and address
- Cannot be cropped or blurry