CORPORATE ACCOUNT. account opening & more. Accounts Processing Unit (APU) Presented by:

Transcription

1 CORPORATE ACCOUNT account opening & more Presented by: Accounts Processing Unit (APU)

2 eligibility method of payment verification methods forms required standard compulsory items additional compulsory items CDP required items optional items Outline CDP application process flow

3 CORPORATE ACCOUNT eligibility, verification & payment methods

4 The applicant must be a duly incorporated body with limited liability Not allowed to open: sole proprietors partnership (except limited liability partnership) pension schemes clubs & trusts who is eligible?

5 verification methods All applications to be witnessed/verified by Business (TR/FA/Agent/Dealer) TR/FA/Agent/Dealer to sign on Verified by field on PSPL application form (page 2) and indicate Face to face Phillip Investor Ctr (PIC) staff Staff to sign on Verified by field on PSPL application form (page 2) and indicate Face to face Authorized Phillip s overseas branch staff Notary public, lawyer, advocate & solicitor commissioner of oath, Singapore Embassy

6 payment methods All methods except EPS EPS is only applicable to individual & joint accounts (where available) Reliance on CDP system CDP system only allows EPS for clients with *NRICs/passports/personal IDs Corporate applicants categorized under ROC (company registration no) * joint applicants without joint CDP accounts cannot opt for EPS

7 CORPORATE ACCOUNT forms & supporting documents required: PSPL

8 forms required Certifying copies of originals All supporting documents must be Certified True Copy Who can CTC documents? 1 director & 1 company secretary with company stamp affixed 2 directors with company stamp affixed 2 authorized signatories with company stamp affixed Note: IC/Passport/ID holder cannot CTC own copy of IC/Passport/ID Note: Board Reso & Extracts of Reso cannot be CTC by non-directors

9 Standard forms required Phillip Securities Corporate / Institution Application Form To be fully completed Guarantee & Indemnity (listed companies exempted) 2 guarantors required (except for co. with sole director 1 guarantor) Company cannot act as its own company guarantor Witness can be anyone, copy of IC/Passport/ID required if not staff/agent Board resolution forms required Template available, must be dated To be signed off by 2 directors with company stamp Authorized persons declared must match PSPL application form

10 standard forms Phillip Securities Corporate / Institution Application Form

11 standard forms Guarantee & Indemnity (first & last page)

12 Forms Board Resolution template We Board of Directors of <COMPANY NAME> haveresolved to open a trading account with Phillip Securitiesfor the purpose of trading at a duly convened meeting of the Board held on <DATE>. IT WAS RESOLVED THAT: A trading account be opened with Phillip Securities PteLtd ( PSPL ) for the purpose of dealing in securities; Pursuant to and upon the terms contained in PSPL saccount Application Form and the Terms and Conditions ; The account be operated in accordance to the prevailing rules, regulations bye-laws directives and practices in force from time to time of the respective exchangesor markets and/or for any other products, services and facilities offered by or through PSPL. IT WAS FURTHER RESOLVED THAT: any of the following is empowered, to trade on behalf of the Company NameNRIC/ Passport No. / Designation and any 2 of the following are empowered to operate the said account and to execute all documentation for trading and settlement in the securities account: NameNRIC/ Passport No. / Designation Specimen Signature The authorization herein to the above names persons shall remainvalid and binding on the Company until and unless cancelled or amended by written communication to PSPL, supported by a certified true copy of a board resolution.

13 forms required Supporting documents (i) Certificate of Incorporation Company profile documents: Locally incorporated companies BizFile from ACRA (to be dated within 2 weeks of submission) Registers of Directors & Members for Foreign inc. co. Registers & Certificate of incumbency (British Virgin Islands) Register of Directors / form 49 & Return of allotment of shares / form 24 (Malaysia) Annual Return (Hong Kong) Certificate of All Present Matters (Japan)

14 forms required Supporting documents (ii) Copy of IC / Passport / ID Of all authorized persons and persons signing IC / Passport / ID number must be consistent on: PSPL corporate application form Board Resolution Company registers & supporting documents Copies must be clear and valid (not expired)

15 forms required Supporting documents (iii) Note for company s shareholders all shareholding companies must be traced to natural persons, not companies / entities due diligence checks will be performed on all natural person (individual) shareholders if a shareholder is another company The shareholding company s company profile is required

16 forms required Example: ABC (A) PTE. LTD. is opening account John Doe ID: ABC (A) PTE. LTD. Tom Wicks Passport: DEF (S) PTE. LTD. 123 SDN BHD ACRA Bizfile required Reg of Members required Andy Grey ID: Mary Cooks ID: A

17 Additional compulsory documents (where applicable) Legal Opinion Letter drafted by lawyer compulsory for companies inc in tax haven countries British Virgin Islands, Bermuda, Bahamas, Guernsey (see SGX website for full list of tax haven countries) Sole directorship / no co. stamp declaration account is to be operated by one authorized signatory confirmation in wrinting if co. does not have stamp SBL application form forms required AML Declaration for Exempt Fund Manager (EFM)

18 Optional forms to complete Excess Funds Authorization (MMF) Letter of Authorization Contract For Difference W8 W8 BEN W8 IMY forms required Client investment profile Note: Corporate clients are exempted from SIP assessments

19 forms required MSF > INFO > DOWNLOADABLE FORMS > AOT/POEMS

20 CORPORATE ACCOUNT forms required: CDP forms

21 Clients opening Corporate CDP account softcopy CDP website ( CDP Certificate of Resolution To be signed by director forms required Copies of IC / passport / ID for all signatories reqired Completed Application for Securities Account Registered address to follow official documents Direct Crediting Services is mandatory Completed Linkage form TR to hold only resubmit after obtaining GSA no. from client (1681-xxxx-xxxx)

22 Certificate of resolution & Application for securities account (Corporate) CDP forms

23 Certificate of resolution & Application for securities account (Corporate) Forms CDP Linkage Form used is the same as individual / joint accounts! Note for CDP forms: Cancellations are required to be countersigned by authorized signatories with company stamp affixed (as per Board Reso) Client to fill in fresh set of form if there are over 3 cancellations done CDP forms must be dated within a month on submission

24 CORPORATE ACCOUNT CDP corporate application flows

25 account opening process Application & Opening workflow successful application no rejections (4) Informs client of successful application and GSA # via mail (1) Submits to (2) Submits to (3) Submits to Client Business APU CDP (5) Informs business of GSA # (1681-xxxx-xxxx) (6) Indicates GSA # 1681-xxxx-xxxx on linkage form and resubmit (7) Open PSPL trading account and submit linkage

26 account opening process Application & Opening workflow unsuccessful application CDP rejection 6-Revert to client 5-Return application with rejection remarks indicated 4-Reject application 1-submit 2-submit 3-submit Client Business APU CDP 7-Rectify and resubmit 8-Resubmit 9-Resubmit

27 End Summary: eligility method of payment verification methods forms used CDP application process flow Questions?