Mandatory Documents/Information
ACRA Bizfile
Click here to see a sample ACRA Bizfile.
If your business is registered as a society under the Registry of Societies rather than ACRA, you may submit an Annual Return or a List of Members instead. Ensure the document includes details of the three key office bearers: President, Treasurer, and Secretary.Letter of Authorization (Non-Director)
The letter of authorization is required for all accounts where the user is a non-director. The letter is a signed document by any director in the company authorizing that the respective user can open the account.
ID of User
Accepted IDs are National IDs and Passports. The picture must be clear and in colour. Driving licenses are not accepted.
Proof of address of User
Proof of Address is required if the submitted ID does not show your address. Accepted documents should be any legal documents issued by a third party: utility bills, phone bills, bank statements, rental agreements, or contracts.
ID of any registered director
Accepted IDs are National IDs and Passports. The picture must be clear and in colour. Driving licenses are not accepted.
Full Name, Nationality, Country of Residence, Date Of Birth (All Directors)
Additional Documents
Name, Country of Residence, Nationality, and IDs of Shareholders
This applies to businesses with individual shareholders that meet the following ownership thresholds:
Low and Medium Risk: Individual shareholders holding 25% or more of shares
High Risk: Individual shareholders holding 10% or more of shares
Name of Corporate Shareholder (If >=25%)
This applies to businesses with corporate shareholders that hold >=25% of shares in your business.
Chart of Shareholder Structure
This applies to businesses with individual shareholders that meet the following ownership thresholds:
Low and Medium Risk: Individual shareholders holding 25% or more of shares
High Risk: Individual shareholders holding 10% or more of shares
Notes:
A picture format (JPG or PNG) is required for:
At least one director’s ID
All UBOs' IDs
Non-director admin’s ID
For all other documents (e.g., BRC, PSoF, POA), PDF or scanned copies are acceptable.
We may also ask additional questions depending on your company structure/industry.
Opening an Aspire account may require additional documents depending on your business type and country of incorporation. This helps us comply with regulatory standards, ensuring a safe and trustworthy experience for you.
Can Singaporean charities and non-governmental organisations open an Aspire account?
You can register an Aspire account as long as you're registered by ACRA (Accounting and Corporate Regulatory Authority in Singapore) under these entities:
Public company limited by guarantee
Society
Non-governmental organisation (NGO) limited by guarantee
Please note that you can only open an SGD Account that can only be used for operational purposes (e.g. pay salaries etc.) and not to facilitate any donations to the charities.
Video of acquiring a business constitution/ memorandum and articles of association in Singapore
Questions? Chat with us by clicking on the messenger icon at the bottom right of the screen once you are logged in.