How to create a corporate account in Singapore

Table of contents  Before creating an account Documents Creating a corporate account to trade crypto on Independent Reserve Step 1: Registering an account Step 2: Identity verification Step 3; Company verification Step 4: Directors and UBOs Step 5: Review and confirm Step 6: Complete the Risk Awareness Quiz After account creation

Before creating an account

Companies can set up a crypto wallet for business in Singapore with Independent Reserve. This guide will show you how to create a corporate account and all the required documents. 

Below is the list of required documents. You can initiate the registration process first, even if you do not have all the documents; our support team will request the rest of the documents from you.

Identity verification documents (Person-in-Charge/Account Operator)

1. Close-up photo of a valid NRIC (for SG citizens/PRs) or passport.

2. Photocopies of valid NRIC/passport of Account Operator(s).

3. Current Proof of Address of Person-In-Charge and every Account Operator(s).

Company documents

1. Current ACRA Business Profile (≤ 3 months old) or equivalent registry extract, showing:

1. 1. Full registered company name
   2. Registered office address
   3. UEN (Unique Entity Number)
   4. Date of incorporation
   5. Number of issued/allotted shares
   6. Directors’ & shareholders’ details (name, ID no., nationality, shareholdings)

2. Memorandum & Articles of Association (M&A).

3. Signed Directors’ Resolution / Authorisation Documents (authorised signatories + authority to operate account).

Directors and UBOs (Ultimate Beneficial Owners) documents

1. Valid copies of NRIC or passport of all Directors and Ultimate Beneficial Owners (UBO) directly/indirectly holding more than 25% interest directly or indirectly in the Company*

2. Current Proof of Address of all Directors and Ultimate Beneficial Owners (UBO) directly/indirectly holding more than 25% interest directly or indirectly in the Company*

3. Contact details (phone & email)

4. Signed and dated shareholding chart showing the link up to the UBO(s) if there are intermediary layers in between

*Documentation must be translated into English if the original document is in a foreign language. 

Creating a corporate account to trade crypto on Independent Reserve

Step 1: Registering an account

Please note that only an authorised person acting as the company’s legal representative can set up a corporate account on behalf of the company.

1. Go to the Create Account page. Enter a username and a valid email address, and set a strong password.

2. Agree to our Terms and Conditions and Privacy Policy once you have reviewed them. Click “Next” to continue.

3. You will receive a verification email at your registered email address. Verify your email address by clicking the button in the email.

4. Once your email has been verified, you will asked about the account type. Select “Company”.

Step 2: Identity verification

1. On this screen, you will need to provide the following details: 

1. 1. Legal first name 
   2. Legal last name 
   3. Date of birth

Once done, click “Next”

2. Select your country and enter your address. Once done, click “Confirm address”

3. Enter your mobile phone number, then click “Next”. A verification code will be send to to that mobile number. Once received, enter the verification code, then click “Next”.

4. Set up Two-Factor Authentication (2FA) to protect your account.

5. After setting up 2FA, you have to do a identity check. You can choose to do it via your mobile phone by scanning the QR code, or via your desktop. 

1. 1. Mobile phone: A liveness check will be conducted to confirm that a real, live person is present. During this process you will be prompted to open the camera and turn your head.
   2. Desktop verification: You will be prompted to choose between your NRIC or passport for verification. Make sure to follow the requirements for each document before uploading. 

Once done, click “Next” to continue.

6. Upload a supporting document which shows your current address. Ensure that the document is less than 6 months old. Examples of proof of address:

1. 1. Government-issued document 
   2. Utility bills
   3. Bank statement

Once done, click “Next” to continue.

7. Select the Account goal from the dropdown menu. Once done, click “Next” to continue.

8. Select your company’s type of funds from the dropdown menus. Once done, click “Next” to continue.

9. Your identification verification is complete. Click “Continue” to move on to company verification.

Step 3: Company verification

1. Select your country of incorporation from the dropdown menu, then enter your company details (in English), Unique Entity Number (UEN), registered address and corporate website. Once done, click “Next” to continue.

2. Upload the company’s latest ACRA BizFile that is less than 3 months old and has the following details:

1. 1. Name of company
   2. Registered office address
   3. Unique Entity Number (UEN)
   4. Information on directors and shareholders, including full name, identification number, and nationality

Once done, click “Next” to continue.

Step 4: Directors and UBOs* information

*A beneficial owner is an individual who ultimately owns or controls more than 25% of the company’s shares or voting rights or who otherwise exercises control over the company or its management.

1. Enter the details of each director and beneficial owner*:

1. 1. Full Name
   2. Date of birth
   3. Country of residence
   4. Valid government-issued ID (NRIC or passport)

Once done, click “Next” to continue.

2. If there are more than one director or beneficial owner, repeat the step above until all directors and beneficial owners have been added.

3. Once done, check the box “I have added all directors and beneficial owners.”, then click “Next” to complete the company verification process. 

Step 5: Review and confirm

1. Carefully review the company summary and confirm that all the details are correct. Once done, check the box “I confirm all the details are correct” click “Next”. 

Step 6: Complete the Risk Awareness Quiz

After completing your identity and company verification, you must take a Risk Awareness Quiz, as mandated by the Monetary Authority of Singapore (MAS), before making your first deposit, trade, or withdrawal.

The quiz ensures that you understand the key risks of trading cryptocurrency. These include significant price volatility, technological vulnerabilities, and the importance of secure custody practices.

By completing the quiz, you acknowledge these risks and accept responsibility for trading with informed judgment. You must answer all five questions correctly to pass and unlock full access to trading features. The quiz takes only a few minutes, you have unlimited attempts and only need to pass it once. Learn more.

After account creation

Once you’ve completed the Risk Awareness Quiz, you should receive a AML/CFT questionnaire in your registered email. After completing the questionnaire, our team will begin to verify your information and documents.

After your account has been successfully created, follow the guide here to link your bank account so you can begin trading.