This article will be guiding you through the steps of uploading your company’s data and documents through Myinfo Business for verification. Do take note that this article is a subsection of the Manual KYB Document Submission guide. To access the main article, click here.
To begin, click ‘Retrieve Myinfo business with SingPass’ on the Welcome Page.
You will be taken to the SingPass login web page. To retrieve your company’s information, you can scan the QR code with your SingPass app or log in with your password.
After logging in, you will be prompted to agree and consent to the retrieval of data from MyInfo. Click ‘I Agree’ to do so.
A successful connection and data retrieval will take you back to the KYB form.
There are three main sections to the form:
1. Company Information
2. Personnel Information
3. Company Documents
Data retrieved from MyInfo will automatically populate different sections of the form. We will also advise you to review the retrieved data to prevent data discrepancy.
Do take note that while there are required and optional fields, providing additional information enhances the accuracy and completeness of your submission.
1. Company Information
This section will be collecting the following information below. For more specific details about the data that will be collected, do refer to Appendix 1.
1.1 General Information
1.2 Company Address
1.3 Additional Information
1.1 General Information
This section will be collecting general information about your company, such as its primary and secondary business activities, the purpose of opening a Spenmo account, and the expected monthly volume and value of transactions with Spenmo.
1.2 Company Address
This section will be collecting your company’s address.
1.3 Additional Information
This section will be collecting additional information about your company, such as your company’s website or social media accounts.
2. Personnel Information
This section will be collecting information for personnel classified as Major Individual Shareholders, Minor Individual Shareholders, Entity Shareholders, Company Directors, and Authorised Persons. For more specific details about the data that will be collected and definitions of personnel, do refer to Appendix 2.
There will be 2 subsections:
2.1 Personnel Information
2.2. Verify Personnel Information
2.1 Personnel Information
The data of personnel retrieved from MyInfo will appear at the top of the form.
Alternatively, you can also click the … button to navigate and edit a specific person’s details.
To add and declare more personnel, click the + tab.
2.2 Verify Personnel Information
Entity Shareholders will not need to verify their information.
Company Directors and Minor Shareholders will have to provide their NRIC or Work Pass number.
Added personnel will have to provide their NRIC, Work Pass Document, or Passport Number, and a softcopy of the document.
Major Individual Shareholders will have to provide their NRIC or Work Pass Number.
There are 2 ways to verify their information:
1. Manually
2. SingPass
Read on for step-by-step instructions for each option.
1. Manually
To verify information manually, select ‘Verify Manually’.
The shareholder will be required to key in their NRIC or Work Pass Number and upload a softcopy of their identification documents. After uploading, they can click ‘Submit’.
2. SingPass
To verify with SingPass, click ‘Verify with SingPass’.
They will then receive a Personnel Verification URL. To proceed to the URL, they can click ‘Copy’ and paste the link in their browser.
The shareholder will be taken to the Joint Applicant Data Verification Page. To proceed with their verification with SingPass, they can click ‘Retrieve Myinfo with SingPass’.
They will be taken to the SingPass login web page. To retrieve their information, they can scan the QR code with their SingPass app or log in with their password.
After logging in, they will be prompted to share their information with Spenmo. To proceed, click ‘I Agree’.
They will then be redirected to the Joint Applicant Data Verification Page. Data retrieved from SingPass will automatically populate the Personnel Information form.
After filling in and reviewing their details, they can click ‘Submit’.
A Thank You page will appear after a successful submission.
The main KYB form will also reflect the successful verification.
3. Company Documents
This section will be collecting the following information below.
3.1 ACRA BizFile Document
3.2 Ownership Information
3.1 ACRA BizFile Document
This section will be collecting your company’s Unique Entity Number.
3.2 Ownership Information
This section will be collecting your company’s Ownership Chart Structure and ownership level.
After uploading the respective documents, click ‘Submit’.
A ‘Company Verification Submitted’ landing page will appear after a successful submission. Spenmo will then proceed with the verification process.
For instructions on how to check your Company Verification Status, you can view the “Checking for Company Verification Status” section in the main article.
Appendix
Appendix 1
Required Information | ||
Field | Data retrieved from MyInfo? | Notes |
Email Address | No | Pre-populated from Spenmo Board Resolution Form. Refers to the Authorised Person’s email. |
Legal Entity Name | Yes |
Pre-populated from Spenmo Board Resolution Form and compared with Entity Name retrieved from MyInfo.
Refers to the registered company name of the business, as per the ACRA document. |
Legal Entity Type | Yes | |
Number of Employees | No | |
Date of Incorporation | Yes | |
Country of Incorporation | Yes | Pre-populated from Spenmo Board Resolution Form and compared with Country of Incorporation retrieved from MyInfo. |
Company’s Primary Business Activity | Yes | |
Primary Business Activity Description | No | |
Source of Funds | No | |
Estimated Annual Turnover (SGD) | No | |
Purpose of Opening a Spenmo Account | No | |
Expected Monthly Volume of Transactions with Spenmo | No | |
Expected Monthly Value of Transactions with Spenmo | No | |
Registered Address | Yes | |
Business Address | No | |
(Business Address) Postal Code | No |
Optional Information | |
Field | Data retrieved from MyInfo? |
Brand Name | No |
Company’s Secondary Business Activity | Yes |
Secondary Business Activity Description | No |
Company Website | No |
Social Media Type | No |
Social Media URL | No |
Appendix 2
Authorised Person: Personnel who is authorised, on behalf of the Company to operate the account in the manner indicated in the board resolution.
Company Director(s): Personnel who legally holds the position in the Company, validated through legal certificates.
Entity Shareholder(s): Refers to an entity (non-individual) who owns a percentage or more effective shareholdings (directly or indirectly) in the Company.
Major Individual Shareholder(s): Refers to a natural person who owns 25% or more effective shareholdings (directly or indirectly) in the Company.
Minor Individual Shareholder(s): Refers to a natural person who owns less than 25% effective shareholdings (directly or indirectly) in the Company.
Required Information | ||
Entity Shareholder Information | ||
Field | Data retrieved from MyInfo? | Notes |
Entity Name | Yes | Entity Name |
UEN | Yes | UEN |
Share Type | Yes | Share Type |
Share Allocation | Yes | Share Allocation |
Major Individual Shareholders Information | ||
Role of Individual | See Notes |
Auto-ticked for Director and Shareholder, if information is available from MyInfo.
Authorised Person must be self-declared. Information is not available from MyInfo |
Full Name | Yes | |
Ownership Category | Yes | |
Share Type | Yes | |
Share Allocation | Yes | |
Position | Yes | |
Email Address | Yes | |
Mobile Number | Yes | |
Nationality / Citizenship | Yes | |
Minor Individual Shareholders Information | ||
Role of Individual | See Notes |
Auto-ticked for Director and Shareholder, if information is available from MyInfo.
Authorised Person must be self-declared. Information is not available from MyInfo |
Full Name | Yes | |
Ownership Category | Yes | |
Share Type | Yes | |
Share Allocation | Yes | |
Position | Yes | |
Email Address | Yes | |
Mobile Number | Yes | |
Nationality / Citizenship | Yes | |
NRIC Document or Work Pass Document | Yes |
Appendix 3
Required Information | |
ACRA BizFile Document | |
Field | Data Retrieved from MyInfo? |
Unique Entity Number (UEN) | Yes |
Optional Information | |
Field |
Data retrieved from MyInfo? |
Ownership Chart Structure | No |
Memorandum & Articles of Association/Constitution | No |
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