The documents required to open an Aspire account depend upon the complexity of your organisation.
For the Chinese version of this FAQ, please refer to this page.
Overview of required documents
Companies rarely need more than the documents mentioned below. Further details on each document can be seen at the end of this page.
|Document||Full Account||Examples of documents|
|Your ID||✅||Passport, National ID|
|Your Proof of Address||If address is not shown on ID||Utility bill, Bank Statement|
✅ (except for partnerships & sole proprietorships)
|Account Opening Letter||✅||Provided in-app, or download here.|
|ID of UBOs (Shareholders with >25% shares)||✅||Passport, National ID|
|Shareholding of Corporate Shareholders||If corporate shareholders have >25%||Certificate of Incorporation|
|ID of Directors||✅||Passport, National ID|
|License||If your industry requires it|
Please note that documents must be:
- <6 months old (except for ID)
- Not expired
- Be in languages accepted by Aspire (English, or see other accepted languages below)
Further details of each document
- Who needs it? All users, except if you sign up with MyInfo / CorpPass (For Singapore businesses only).
- What documents are accepted? National ID or Passport. The picture must be clear and in colour. Driving licenses are not accepted.
- Why we need it. To verify that it is you who sign up and protect you against impersonation & identity theft.
- Who needs it? All users, except if you signed up with MyInfo (CorpPass).
- What must it show? The in-app selfie during sign-up needs to show your face. If you provide the selfie by email, it should show you holding your ID and a white paper with the word 'Aspire' written on it.
- What documents are accepted? The picture must be clear and in colour.
- Why we need it. To verify it is you who sign up and protect yourself against impersonation & identity theft.
BUSINESS CONSTITUTION / MEMORANDUM AND ARTICLES OF ASSOCIATION
- Who needs it? All businesses, except Partnerships and Sole Proprietorships.
- What documents are accepted? All subscribers must sign the constitution or be an extract from ACRA (Available to Singapore businesses only). Pictures or scans are accepted. For Singapore businesses, you can purchase this with ACRA (video of these steps is at the end of this article):
- Go to https://www.bizfile.gov.sg > Enter your Unique Entity Number (UEN) in the search bar > click Search again mid-screen.
- Click on Other Information in the search bar results > Click Search > Scroll down to the section Extracts > Under Category, select Company Incorporation (M&AA)/Constitution. For the Transaction Date, select Last 5 Years and click Find; (if unavailable try selecting the other options eg. Last 10 years, etc.)
- Select the First option under Extract. Purchase it.
- eCertification is not needed (no need to buy the eCertificate version).
- Why we need it. To verify that the Constitution allows you to open an account on behalf of the company.
ACCOUNT OPENING LETTER
- Who needs it? All businesses.
- What it must show. It must be signed by 1 Director of the company. Director's signature must match the signature shown on the submitted ID. If a non-director opens the account, the document must show his/her details in the dedicated section of that document as well.
- What documents are accepted? You can download the template here.
- Why we need it. To protect you against account opening done by non-authorised users.
ID OF DIRECTORS & UBOs (SHAREHOLDERS WITH >10% SHARES)
- Who needs it? All businesses.
- What documents are accepted? National ID or Passport. Driving licenses are not accepted. The picture must be clear and in colour.
- Why we need it. To determine the identity of your company's key stakeholders and comply with international regulations.
YOUR PROOF OF ADDRESS
- Who needs it? All users, except you are a Director or Shareholder listed in the Certificate of Registration, or if your ID shows your address.
- What must it show? Name and full address.
- What documents are accepted? Any invoice or legal document issued by a third party: utility bills, phone bills, bank statements, rental agreement, contracts.
SHAREHOLDING OF CORPORATE SHAREHOLDERS
- Who needs it? Businesses with corporate shareholders that hold > 25% of shares in your business.
- What it must show. Name, identification number, address, and % or # shareholding of each shareholder.
- It must not be older than 3 months. Please provide us with a more recent document.
- What documents are accepted?
- Certificate of shareholding
- Audited financial report
- Certified True Copy of shareholding
What is a Certified True Copy? They are copies certified via wet ink signature by a Solicitor, Lawyer, Notary Public or a Certified Public or Professional Accountant.
Please note that we do not need the original document. Pictures or scans are accepted.
- Who needs it? Companies from industries that typically require a license to operate (example: alcohol, pharmaceuticals, financial services, cryptocurrency, and marketplaces)
- What must it show? License number, business name, and licensing authority. If your license number is published online, the license number is enough.
Aspire only accepts documents in the languages below. For documents in other languages, we accept certified translations.
Video of acquiring a business constitution/memorandum and articles of association in Singapore
Questions? Please let us know here or chat with us during business hours (Mon - Fri, 9.30 AM - 6:30 PM SGT) by clicking on the green chat bubble on the lower right-hand side.