To comply with government regulations, Stripe is updating its verification requirements. Stripe will reach out to you to request additional information.
Please log in to your dashboard to view the required actions and review the resources below to learn more about the type of information you may need to provide.
Stripe will request information in three areas:
- Representative Authority Verification - verify that the business representative holds a position of authority in the business.
- Ultimate Beneficial Owners of your business - Ultimate beneficial owners (UBO) are individual persons that, directly or indirectly, own 25% or more of your business.
- Directors of your business - We will require the names of all directors of your business.
You can read more about these requirements here
Why do I need to update my business information?
Stripe regularly reviews and updates its verification requirements to stay current with financial regulations and to ensure that businesses that use Stripe are compliant. For Singapore-based businesses accepting card payments or making transfers, we’re updating how we collect, validate, and verify business information. As a result, you may need to provide additional information. Our goal is to help ensure safe and uninterrupted access to the payments ecosystem for you.
How do we verify business and personal information?
Personal Information
- ID - We require enhanced identity verification of representatives using Singpass MyInfo or Stripe Identity.
- Address - You can use Singpass MyInfo to meet the address verification requirement as well. If we cannot verify the account representative's address, we will request that you provide a proof of address document.
Business Information
- We verify your business information using Government Registries. If we are unable to match the information against the registries, we may request that you provide a proof of registration document.
- If we are unable to verify your business ownership using Government Registries, we will require you to submit one of these documents:
- Government documents - Certificate of Registration or ACRA BizFiles
- Notarized internal documents - Minutes of meeting
- Letter of Attestation from Authorized Representative(Template)
- If you are a company or corporation, the letter of attestation is the recommended document to share if your shareholding structure consists of multiple layers of ownership or multiple holding companies.
- Account Representative - If the key officers listed on Government Registries are unable to manage the Stripe account, a Letter of Authorization (Template) signed by a key officer will be required.
- Find the complete list of documents for Singapore at Acceptable Verification Documents.
- All notarized documents should have been notarized in the last 12 months. All other documents should have been issued in the last 12 months.
Requirements for different types of businesses
Legal Entity Type |
Business Representative |
UBOs |
Connected Parties |
Individuals |
Not Required |
Not Required |
Not Required |
Sole Proprietors |
Required |
Required |
Not Required |
Private Companies |
Required |
Required |
Required |
Partnerships |
Required |
Required |
Not Required |
Public Companies |
Required |
Not Required |
Required |
Financial Institutions |
Required |
Not Required |
Required |
Government Entities |
Required |
Not Required |
Not Required |
Charities and Non Profits |
Required |
Required |
Not Required |
Additional information
You can read more about providing your business and representative information for your specific business type here