Verification of beneficial ownership is required for private companies, private partnerships, and non-profits.

What details are verified?

The following details must be verified against government registries:

• Company Name
• Entity type
• Business registration number (UEN)
• For each beneficial owner:
  • Name
  • DOB
  • SG ID number (NRIC) / Passport
  • Alias
  • Email
  • Designation / Title
  • Residential address

What government registry is used for verification?

Private companies / partnerships:

• Business Filing Portal of ACRA

Non-profit:

• Charity Portal
• Registry of Societies

Ensure any information on your Stripe account exactly matches the registries otherwise you face restrictions accepting payments or receiving payouts to your bank account. Update your information with the registry board or update your Stripe account as needed to ensure the details match.

What evidence/documents to submit?

To complete ultimate beneficial ownership verification, we require the following documentation:

Private company / partnership:

• A Bizfile document containing shareholder information about your business. You can retrieve your business' Bizfile document at the registry website
• You can also choose to collect an ultimate beneficial owner attestation as an alternative to the proof of registration documents.
• If one of your business' shareholders is a company, you are required to upload ownership documentation for any holding companies as well.

Non-profit:

• A recent annual return or constitution document

FAQ

What happens if Stripe can't verify the ownership?

If Stripe can’t verify the business ownership, you must collect a proof of registration document from the business, as well as for any holding company owning 25% or more shares of the business. If the company has no owners with 25% or more shares, we will need to verify business owners with a stake that is 10% or higher. If the company has no owners with more than 10% of the shares, we perform directorship verification instead.

Special considerations for partnership 

Partnerships are required to verify the relationship between the business and all partners and managers.

Special considerations for non-profits

In the case of non-profits, all key executives and office bearers will be considered as the beneficial owners. This includes the President (including Assistant/ Deputy), Executive Director (including Assistant/ Deputy), CEO (including Assistant/ Deputy), Treasurer (including Assistant/ Deputy), Secretary/ General Secretary (including Assistant/ Deputy), Chairman (including Assistant/ Deputy) and Trustee.