Singapore legislation
Regulation 20
Regulation 20
Identification and verification of identity of customers and customers’ agents
Subregulation 1
A registered corporate service provider (X) must establish the identity of each customer and each of the customer’s agents.
Subregulation 2
For the purposes of paragraph (1), X must obtain and record at least the following information of the customer and each of the customer’s agents, if any:
full name, including any alias;
NRIC number, foreign identification number (FIN), birth certificate number or passport number (in the case of a customer who is an individual), or incorporation number or registration number (in the case of a customer that is a body corporate or unincorporate);
existing residential address or address of its place of business or registered office (as the case may be), and contact number;
the date of birth, incorporation or registration, as the case may be;
the nationality or place of incorporation or registration, as the case may be.
Subregulation 3
Where the customer is a company or foreign company, X must also establish and record the identities of all the directors of the company or foreign company.
Subregulation 4
Where the transaction relates to the formation of a company or other legal person, X must establish the identities of the proposed directors of the proposed company or legal person, or (where applicable) the persons acting in similar capacities to directors in relation to the legal person.
Subregulation 5
Where the customer is a sole proprietor, partnership, limited partnership or limited liability partnership, X must establish and record the identities of the sole proprietor, partners and managers.
Subregulation 6
Where the customer is a body corporate or unincorporate other than a company, partnership, limited partnership or limited liability partnership, X must establish and record the identities of all the persons having executive authority in that body.
Subregulation 7
Where the customer is a legal person or legal arrangement, X must, apart from identifying the customer, also identify the legal form, constitution and powers that regulate the legal person or legal arrangement.
Subregulation 8
X must —
verify the identities of the customer and the customer’s agent (if any), as well as the persons mentioned in paragraph (3), (4), (5) or (6) (if applicable), using reliable and independent sources;
verify the authority of a customer’s agent (if any) to act on behalf of the customer; and
retain a copy of all documents used in establishing and verifying the matters mentioned in sub‑paragraphs (a) and (b).