As part of our license and regulation from the Monetary Authority of Singapore, we have set requirements on investors we are permitted to onboard.
Following on from our summary in the application, below is the complete legislation that outlines the specific requirements and documents. All information has been taken from Section 4A of the Securities and Futures Act (Cap. 289) and should be referred to should there be any questions on the content.
Please see a breakdown of the various requirements depending on your situation and if any questions, please feel free to reach out to our support team.
My basis for opting to be treated as an accredited investor is that my:
(a) net personal assets exceed S$2,000,000 (or its equivalent in a foreign currency) in value, of which no more than S$1,000,000 (or its equivalent in a foreign currency) in value is contributed by the net estimated fair market value of my primary residence;
You may calculate your net personal assets by subtracting your liabilities from the total value of your assets.
Supporting documents required (except for the title deed, each to be dated within 3 months before the date of submitting this form):
- your latest bank account statement or CPF statement;
- your latest statement of holdings from CDP or brokerage firm(s); or
- a copy of the title deed of your primary residence.
(b) financial assets (net of any related liabilities) exceed S$1,000,000 in value (or its equivalent in a foreign currency); or
You may calculate your financial assets by totalling the value of any of the following assets that you own:
- a deposit as defined in section 4B of the Banking Act (Cap. 19);
- an investment product as defined in section 2(1) of the Financial Advisers Act (Cap. 110); or
- any other asset prescribed as a “financial asset” for purposes of establishing accredited investor status by MAS; or
- Letter (dated within the last 3 months) from any reputable Financial Institution affirming that client’s net asset under custody qualifies the client as an AI as defined under Section 4A of the SFA
(c) income in the preceding twelve (12) months is not less than S$300,000 (or its equivalent in a foreign currency). Supporting documents required (each to be dated within 3 months before the date of submitting this form):
- a copy of your pay slip; or
- a copy of your employment contract stating your position and income.
I, the authorised signatory of ________________________ (please fill in corporation’s name) (the “Corporation”), confirm that the Corporation wishes to be treated as an accredited investor as defined in section 4A of the SFA. The Corporation acknowledges and accepts that, having opted in to accredited investor status, this treatment will apply to all of the Corporation’s transactions with you. The Corporation’s basis for opting to be treated as an accredited investor is that its:
(a) net assets exceed S$10,000,000 (or its equivalent in a foreign currency) as determined by (a) its most recent audited \ balance-sheet or (b) its balance-sheet certified by the Corporation as giving a true and fair view of its state of affairs as of the date of the balance-sheet (which date is within the twelve (12) months preceding the date of submitting this form); or
Supporting documents required:
- a copy of the Corporation’s most recent audited balance-sheet; or
- a copy of the Corporation’s balance-sheet that is certified by the Corporation as giving a true and fair view of its state of affairs as of the date of the balance sheet (to be dated within 12 months before the date of submitting this form).
(b) entire share capital is owned by one or more persons, all of whom are accredited investors as defined in section 4A of the SFA.
Supporting documents required:
- a copy of the Corporation’s business profile; or
- a declaration of the Corporation’s shareholding structure.
EXPERT INVESTOR – as an Individual
(someone) whose business involves the acquisition and the disposal, or the holding, of capital markets products, whether as principal or agent
Supporting documents required:
- Copy of name card
- Copy of letter of employment stating position (dated within 3 months)
- a bank that is licensed under the Banking Act (Cap. 19);
- a merchant bank that is approved as a financial institution under section 28 of the Monetary Authority of Singapore Act (Cap. 186);
- a finance company that is licensed under the Finance Companies Act (Cap. 108);
- a company or society registered under the Insurance Act (Cap. 142) as an insurer;
- the Singapore Government;
- a statutory body established under any Act in Singapore;
- the Government of Singapore Investment Corporation Pte Ltd;
- a pension fund;
- a collective investment scheme, as defined under section 2(1) of the Securities and Futures Act (Cap. 289) (“SFA”);
- a holder of a capital markets services licence under the SFA;
- a person who is exempted from the requirement to hold a capital markets services licence to carry on business in dealing in capital markets products that are securities, units in a collective investment scheme or specified exchange- traded derivatives contracts under paragraph 2(1)(a) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations (Rg 10) (“SF (LCB) Regulations”);
- a person who is exempted from the requirement to hold a capital markets services licence to carry on business in fund management under paragraph 5(1)(i) of the Second Schedule to the SF (LCB) Regulations, and who has assets under management of not less than S$15 million;
- a headquarters company or Finance and Treasury Centre which carries on a class of business involving fund management but only to the extent that the business in fund management has been approved as a qualifying service in relation to that headquarters company or Finance and Treasury Centre under section 43E(2)(a) or 43G(2)(a) of the Income Tax Act (Cap. 134), as the case may be;
- a company in the Global Trader Programme of Enterprise Singapore;
- a financial adviser licensed under the Financial Advisers Act (Cap. 110) who uses
the Company’s services solely for the purposes of trading for its own account; or
- a hedge fund that has assets under management of not less than S$15 million.
Supporting documents required (case by case basis):
- a copy of the person’s business profile;
- a letter of authorisation or a list of authorised personnel (if one or more individual persons is appointed to execute decisions/actions on behalf).