Ultimate Beneficial Owners

• Ultimate beneficial owners (UBO) are persons that, directly or indirectly, own a significant share and/or exercise significant control over your business. These persons are usually represented as owners, directors, and/or executives on your Stripe account. For Singapore based merchants they are any individual person who owns 25% or more of your business
• To fulfill Know Your Customer (KYC) requirements, Stripe may be required to collect, match, and `verify the ultimate beneficial owners for a business

Exemption from providing Ownership details

Certain Singapore businesses may qualify to be exempt from the standard process of providing ownership details

• A financial institution
  • To be eligible for exemption as a financial institution, your company must be listed as a Financial Institution by MAS here
• A publicly traded company
  • To be eligible for exemption as a public company, your company must be on an exchange from a Financial Action Task Force (FATF) country. FATF countries are listed here
• A Government entity
• Any company who has at least 75% of their business owned by a financial institution, a publicly traded company, or a government entity. If at least 75% of your business is cumulatively owned by 2 or more financial institutions, publicly traded companies, or government entities, that makes you eligible for exemption from providing ownership details

Providing information about your business if your organization is exempt

• While providing information about your business on your Stripe dashboard, you will be able to declare if your business belongs to one of the categories listed above. Depending on the reason you provide, Stripe may ask you to provide more information, and verify the information you have already shared.
• Note: businesses that qualify for this exemption are still required to provide names of their directors and any other information that Stripe might require for regulatory compliance.
• You can read more about how to fulfill requirements for your specific business here
  • Publicly traded companies and Financial Institutions
  • Government Entities