Are you looking to trade stocks in Singapore? Then you need to open Singapore CDP account with any of Singapore Exchange brokerage firms. It takes less than one market day to open an account with CDP, Central Depository Pte Ltd. It is a subsidiary of Singapore Exchange responsible for securities clearing, settlement and depository services.
If you want to invest in the Singapore stock market, then you need to have an account with CDP and you must be at least 18 years old and not an undischarged bankrupt. It is free of charge. CDP account allows you trading shares in the stock market.
You must have following documents along with you during CDP account opening:
- Identification card (for citizens and permanent residents)
- Passports (for non-Singaporeans) & Malaysian IC for Malaysians
- Work and re-entry permits (for foreigners working in Singapore)
- Bank account number
- CPF investment account number (if applicable)
- CDP account number (if applicable)
You can apply for a CDP account by filling in an application form for the opening of a CDP direct securities account at customer service counters or approach any of SGX Securities Member Companies that is listed on Singapore Exchange and Depository Agent personally with the document whichever is applicable to apply for a CDP account. View the list of Depository Agents contact address.
Your signature on the application form must be verified and the supporting documents must be certified by one of the followings:
- Justice of Peace
- Singapore Embassy
- Commissioners for Oaths
- Notary Public officially registered with the country’s governmental institution
- Advocates & Solicitors (preferably with branch in Singapore)
You need to tie your CDP account with your trading account by submitting the form obtained from the stockbroking firm that submits your form to the CDP on your behalf. This process to linkage of your securities and trading accounts will take one day and then you will be notified. Once your CDP account and trading account both are set up, you can start to trade stock on the SGX.
It will track your all shareholdings portfolio. Your all shares that you have bought and sold through your broker from the Singapore market will be credited and debited to this account.
Your direct security account will be maintained by CDP that also enables you to receive contract statements that list your stock transactions, confirmation notes informing you that your account has been credited or debited, as well as half-yearly and yearly statements of your shares. With their CDP internet access service, you can see dividend payments for the current and previous months on internet accessible computer. To know more about CDP internet access, visit www.cdp.com.sg.
You can select any SGX Securities Member Companies, which is a member of SGX to open your account. The list of members firm in SGX can be found on www.sgx.com.
- Applicant(s) who wish to use a PO Box address as their mailing address are required to provide a residential address which is consistent with the records shown on their IC.
- If mailing address of the securities account is a foreign address, then the account holder will not receive any rights document in relation to any corporate event. In order to receive the rights document, the account holder will be required to maintain a separate rights mailing Singapore address. You have to download a copy of the registration form.
- If account holder wishes to use stockbroking company’s address as mailing and/or rights address, then a letter of undertaking duly signed by 2 authorized signatories of stockbroking company with their names indicated and affixation of company stamp has to be submitted. Download a copy of letter of undertaking.
- All alterations on account opening form have to be counter-signed by account holder. An account opening form with more than 3 alterations will be rejected and a new form has to be filled for submission.
- For thumbprint operated account, the right thumbprint of the account holder must be affixed on relevant application form(s) for subscription to CDP services in the future (e.g. CDP Internet access, direct crediting service, etc). Affixation of thumbprint on application form must be witnessed and copy of IC/Passport must be certified as true copy by a CDP certifiable authority.
- The account opening form should be dated with the current date of submission of the application. CDP will accept application form dated up to one month old upon receipt.
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