Requirements when using Shopify Payments for Singapore
Before you can use Shopify Payments in Singapore, you need to understand the personal information requirements. These requirements are in place to comply with regulations and prevent financial crimes. In this article, you'll find the purpose of collecting personal information, the types of documents accepted, and guidance on ensuring that your documentation meets the necessary criteria.
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Pre-requisites for using Shopify Payments in Singapore
To use Shopify Payments in Singapore, your business must not be a prohibited or restricted business in Singapore as outlined in the Shopify Payments Terms of Service.
Additionally, your bank account has to meet the following requirements:
- A full checking account with a bank in Singapore.
- In SGD currency.
- Eligible for recurring transfers from Shopify.
- Set up for Fast And Secure Transfers (FAST) or Real Time Gross Settlement (RTGS) transfers. Consult your bank to verify whether your account can accept these types of transfers.
Checking accounts that are set up to accept only wire transfers don’t work with Shopify Payments. Savings accounts, flex-currency accounts, and money-transferring services that mimic bank accounts aren't supported by Shopify Payments. Although non-Shopify virtual accounts are supported, you might experience more payout failures with these accounts.
Purpose of collecting information
Shopify and its banking partners are required to collect and verify information about you and your business, in order to comply with regulations in Singapore that are designed to prevent financial crimes. As local rules and regulations evolve, you may be contacted by Shopify and its banking partners to provide additional information throughout the lifespan of your Shopify Payments account.
What do you do with this information?
The information is used to confirm the identity of the business, the identities of individuals linked to it, and the nature of the relationship between the two.
Shopify never physically mails you documentation. All important documents or communications are emailed, or made digitally available to the person listed as Account Owner of the store, through your account admin page.
Visit Shopify’s Privacy Policy to learn about how your information is kept confidential and safe.
What information do I need to provide?
The information that you need to provide depends on your business type.
- If your business is registered with the Accounting and Corporate Regulatory Authority of Singapore (ACRA), then proceed with the business type that matches what is listed as the "Company Type" on ACRA Bizfile.
- If your business is registered with the Charity Portal, then proceed with the Non-profit business type.
- If your business is not registered in Singapore, then proceed with Individual or Non-profit business types, depending on the nature of your business.
- If your business type isn't listed below, then contact Shopify Support for help to choose the right one for your business.
Individuals
- Legal first and last names
- Any known aliases
- Date of birth
- Citizenship
- National Registration Identity Card (NRIC) number or Foreign Identification Number (FIN) or Passport numbers
- Email address
- Phone number
- Residential address in Singapore
You can provide this information with Singpass in your Shopify admin. If you don't have access to Singpass, then you can fill out your information and take a picture of your photo ID. Acceptable identity documents are listed here.
If your address can't be automatically verified, you'll need to upload a proof of address document. When providing this document, ensure that the address listed in your account matches exactly with the address on the document. Update the information in your account to match the document if necessary. Acceptable address documents are listed here.
Sole Proprietorships
- Legal first and last names
- Any known aliases
- Date of birth
- Citizenship
- National Registration Identity Card (NRIC) number or Foreign Identification Number (FIN) or Passport number
- Email Address
- Phone number
- Residential address in Singapore
You can provide this information with Singpass in your Shopify admin. If you don't have access to Singpass, you can fill out your information and take a picture of your photo ID. Acceptable identity documents are listed here.
If your address can't be automatically verified, then you need to upload a proof of address document. When providing this document, ensure that the address listed in your account matches exactly with the address on the document. Update the information in your account to match the document if necessary. Acceptable address documents are listed here.
Letter of Authorization
If the Account Representative for the Shopify Payments account is not the Owner, but rather a person authorized by the Owner, then you’ll also need to provide:
- An identity document of the Owner.
- A Letter of Authorization signed by the Owner. The letter must be dated within the last 12 months with names written in English.
Sole Proprietors also need to provide the following details about their business:
- Registered name: the "Company Name" on ACRA Bizfile
- Unique Entity Number (UEN)
- Business phone number
- Business address
Our banking partners verify your information using government registries like ACRA. Pay careful attention to case, punctuation, and symbols.
If the information you provide about the business can’t be verified, then you might need to provide a business verification document. When providing this document, ensure that the Registered Name, UEN and Business Address listed in your account matches exactly with the information on the document. Update the information in your account to match the document if necessary.
Partnerships
Partnerships need to designate an Owner, Partner or Manager (as listed on ACRA), or a person authorized by an Owner, Partner or Manager, as the Account Representative of their Shopify Payments account. The Account Representative needs to provide the following information:
- Legal first and last names
- Any known aliases
- Date of birth
- Citizenship
- National Registration Identity Card (NRIC) number, Foreign Identification Number (FIN), or Passport Number
- Email address
- Phone number
- Residential address
- Equity (if applicable)
- Job title
You can provide this information with Singpass in your Shopify admin. If you do not have access to Singpass, you can fill out your information and take a picture of your photo ID. Acceptable identity documents are listed here.
If your address can't be automatically verified, you'll need to upload a proof of address document. When providing this document, ensure that the address listed in your account matches exactly with the address on the document. Update the information in your account to match the document if necessary. Acceptable address documents are listed here.
Letter of Authorization
If the Account Representative for the Shopify Payments account is not an Owner, Partner or Manager on ACRA, but rather a person authorized by an Owner, Partner or Manager, then you’ll also need to provide:
- An identity document for the Owner, Partner or Manager who is providing the authorization.
- A Letter of Authorization signed by the authorizing Owner, Partner or Manager. The letter must be dated within the last 12 months with names written in English.
Partnerships also need to provide the following details about the business:
- Registered business name: the "Company Name" on ACRA Bizfile.
- Unique Entity Number (UEN)
- Business phone number
- Business address
- The full legal name, NRIC/FIN/passport number, and any known aliases for all Partnership Owners. Any individual listed as an Owner, Partner, or Manager on ACRA, or who holds 25% or more ownership of the partnership, must be listed as an Owner on the Shopify Payments account.
- Individuals listed on ACRA with variations of the Partner title, such as a "General Partner", "Associate Partner", are also considered Partners and must be listed as Owners on the Shopify Payments account.
Our banking partners verify your information using government registries like ACRA. Pay careful attention to case, punctuation, and symbols.
If the information you provide about the business can’t be verified, you might need to provide a business verification document. When you provide this document, ensure that the Registered Name, UEN and Business Address listed in your account matches exactly with the information on the document. Update the information in your account to match the document, if necessary.
If the identities of any individuals listed as Owners can’t be verified, then you’ll need to provide an identity document for that person. Update the information in your account to match the document, if necessary.
If the ownership information of the Partnership can’t be verified using government registries, you’ll need to provide a proof of ownership document. When you provide this document, ensure that the Names and ID Numbers of the Owners listed in your account matches exactly with the information on the document. Update the information in your account to match the document, if necessary.
Private companies
Private companies need to designate either a Director or the CEO (as listed on ACRA), or a person authorized by a Director or the CEO, as the Account Representative of their Shopify Payments account. The Account Representative needs to provide the following information:
- Legal first and last names
- Any known aliases
- Date of birth
- Citizenship
- National Registration Identity Card (NRIC) number, Foreign Identification Number (FIN), or Passport Number
- Email address
- Phone number
- Residential address
- Equity (if applicable)
- Job title
You can provide this information with Singpass in your Shopify admin. If you don't have access to Singpass, then you can fill out your information and take a picture of your photo ID. Acceptable identity documents are listed here.
If your address can't be automatically verified, then you'll need to upload a proof of address document. When you provide this document, ensure that the address listed in your account matches exactly with the address on the document. Update the information in your account to match the document if necessary. Acceptable address documents are listed here.
Letter of Authorization
If the Account Representative for the Shopify Payments account is not a Director or the CEO, but rather a person authorized by a Director or the CEO, then you’ll also need to provide:
- An identity document for the Director or CEO, whichever person provides the authorization.
- A Letter of Authorization signed by the authorizing Director or CEO. The letter must be dated within the last 12 months with names written in English.
Private Companies also need to provide the following details about the business:
- Registered Business Name. This is the "Company Name" on ACRA Bizfile.
- Unique Entity Number (UEN)
- Business phone number
- Business address
- The full legal name, NRIC/FIN/passport number, and any known aliases for all Owners and Directors.
- Anyone who holds 25% or more ownership of the company, must be listed as an Owner on the Shopify Payments account.
- Individuals listed on ACRA with variations of the Director title, such as a "Managing Director", "Deputy Director", are also considered Directors and must be listed as Directors on the Shopify Payments account.
Our banking partners verify your information using government registries like ACRA. Pay careful attention to case, punctuation, and symbols.
If the information you provide about the business can’t be verified, then you might need to provide a business verification document. When you provide this document, ensure that the Registered Name, UEN and Business Address listed in your account matches exactly with the information on the document. Update the information in your account to match the document if necessary.
If the identities of any individuals listed as Owners can’t be verified, then you’ll need to provide an identity document for them. Update the information in your account to match the ID document, if necessary.
If the ownership information of the company can’t be verified using government registries, then you’ll need to provide a proof of ownership document. Ensure that the Names and ID Numbers of the Owners listed in your account matches exactly with the information on the document. Update the information in your account to match the document, if necessary.
If your company has no owners, then you'll need to provide a proof of directorship document instead. Ensure that the Names and ID Numbers of the Directors listed in your account matches exactly with the information on the document. Update the information in your account to match the document, if necessary.
Non-profits
Non profits need to designate either a Director or a Key Executive, or a person authorized by a Director or a Key Executive, as the Account Representative of their Shopify Payments account.
Key Executives are defined as anyone in your documentation with the following roles:
- President
- Vice President
- Deputy President
- Director
- Deputy Director
- CEO
- CFO
- Treasurer
- Secretary
- Chairman
- Vice Chairman
- Trustee
- Operations Manager
- General Manager
If you're a Registered Charity, then your Directors and Key Executives are listed in the Charity Portal.
The Account Representative needs to provide the following information:
- Legal first and last names
- Any known aliases
- Date of birth
- Citizenship
- National Registration Identity Card (NRIC) number, Foreign Identification Number (FIN), or Passport Number
- Email address
- Phone number
- Residential address
- Equity (if applicable)
- Job title
You can provide this information with Singpass in your Shopify admin. If you don't have access to Singpass, you can fill out your information and take a picture of your photo ID. Acceptable identity documents are listed here.
If your address can't be automatically verified, then you'll need to upload a proof of address document. When you provide this document, ensure that the address listed in your account matches exactly with the address on the document. Update the information in your account to match the document if necessary. Acceptable address documents are listed here.
Letter of Authorization
If the Account Representative for the Shopify Payments account is not a Director or a Key Executive, but rather a person authorized by a Director or a Key Executive, then you’ll also need to provide:
- An identity document for the Director or Key Executive, whichever person is providing the authorization.
- A Letter of Authorization signed by the authorizing Director or Key Executive. The letter must be dated within the last 12 months with names written in English.
Non-Profits also need to provide the following details about the business:
- Registered business name: the "Company Name" on ACRA Bizfile
- Unique Entity Number (UEN)
- Business phone number
- Business address
- The full legal name, NRIC/FIN/passport number, and any known aliases for all Directors and Key Executives.
- Individuals listed on ACRA with variations of the Director title, such as a "Managing Director", "Deputy Director", are also considered Directors and must be listed as Directors on the Shopify Payments account.
- Assign the "Director" role to individuals on whose job title in the documentation matches any of the following: President, Vice President, Deputy President, Director, Deputy Director, CEO, CFO, Treasurer, Secretary, Chairman, Vice Chairman, Trustee, Operations Manager, or General Manager.
Our banking partners verify your information using government registries like ACRA. Pay careful attention to case, punctuation, and symbols.
If the information you provide about the business can’t be verified, then you might need to provide a business verification document. When you provide this document, ensure that the Registered Name, UEN and Business Address listed in your account matches exactly with the information on the document. Update the information in your account to match the document, if necessary.
If the identities of any individuals listed as Directors or Executives can’t be verified, then you’ll need to provide an identity document for them. Update the information in your account to match the document, if necessary.
If the Director or Key Executive information of the company can’t be verified using government registries, then you’ll need to provide a proof of ownership document. When you provide this document, ensure that the Names and ID Numbers of the Directors listed in your account matches exactly with the information on the document. Update the information in your account to match the document, if necessary.
Acceptable document types
This section helps you understand the types of documents you can use to verify your account.
Identity documents
The following documents are accepted as proof of identity. Your name, date of birth, and NRIC/FIN/Passport number on your Shopify Payments account must be updated to match the information shown in the identity documents you provide. The documents must be valid and must not be expired.
- Passport
- Driver's licence (photographs of the front and back are required)
- National registration identity card (photographs of the front and back are required)
- Work permit, employment pass, or visit pass (photographs of the front and back are required)
Address documents
The following documents are accepted as proof of address. The address on your Shopify Payments account must be updated to match the information shown in the address documents which you’re providing.
- Government-issued identity document with address (photographs of the front and back are required)
- Correspondence with government agencies (dated and issued within the last 3 months)
- Bank account statement (dated and issued within the last 3 months)
- Utility bill (dated and issued within the last 3 months)
Business verification documents
The following documents are accepted for business verification. They must clearly display the legal entity name, Unique Entity Number (UEN), and address of your business. The details on your Shopify Payments account must be updated to match the information shown in the documents which you’re providing. All documents should be issued or notarized in the past 12 months.
- Proof of registration with Accounting and Corporate Regulatory Authority (ACRA) BizFile.
- Business profile extracts from ACRA BizFile.
- Certificate of Registration with Registry of Societies (ROS).
Ownership documents
The following documents are accepted as proof of ownership, provided that they show the legal entity name of your business, and all of the complete names and personal ID numbers of the Owners of your business. For details on who is considered an Owner of your business, please refer to the appropriate section above corresponding to your business type.
All documents should be either issued or notarized in the past 12 months.
- Proof of registration with ACRA BizFile.
- Notarized Internal Company Ownership Documents. For example: A notarized Capitalization table, or Board Meeting Minutes.
You can also provide your own attestations, signed by an official Lawyer, Accountant, or Auditor:
Every Owner listed in your documentation must also be listed in your Shopify Payments account and assigned the role of “Owner”. Update the information in your account to match the document if necessary.
Directorship documents
The following documents are accepted as proof of directorship, provided that they show the legal entity name of your business, and all the complete names and roles of all the Directors. All documents should be either issued or notarized in the past 12 months. For details on who is considered a Director of your business, please refer to the section above corresponding to your business type.
- Proof of registration with ACRA BizFile.
- Notarized Internal Company Ownership Documents. For example: A notarized Capitalization table, or Board Meeting Minutes.
- Recent annual return (only valid for non-profits).
- Recent constitution document (only valid for non-profits).
You can also provide your own attestations, signed by an official Lawyer, Accountant, or Auditor:
Every Director listed in your documentation must also be listed in your Shopify Payments account and assigned the role of “Director”. Update the information in your account to match the document if necessary.