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Account opening

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Account opening

  • You can easily open your account online by following the steps below. You may choose to open a Syfe Trade or Syfe Wealth account, or both. 

     

    Syfe Trade

    1. Download the Syfe app and sign up for a Syfe Trade account. Use Singpass to verify your identity instantly OR manually enter your details and upload supporting documents
    2. Complete your KYC verification
    3. Complete your investment knowledge assessment
    4. Sign the necessary contract details
    5. Transfer funds to your Syfe Trade buying power using PayNow, Fast, Telegraphic Transfer or other methods and start trading

    You can access your Syfe Trade account anytime via our app.

     

    Syfe Wealth

    1. Click here to select a Syfe Wealth portfolio 

    2. Answer a few questions to help us personalise your portfolio. Feel free to explore your portfolio and finalise an investment plan. Proceed to create your Syfe account
    3. Use Singpass to verify your identity instantly OR manually enter your details and upload supporting documents
    4. Transfer funds to your portfolio using PayNow, FAST, Telegraphic Transfer and other methods. We will then invest them for you within 1-2 working days.

    You can access your Syfe Wealth account anytime via our web dashboard or app.

     

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  • Yes, you can open your Syfe account with MyInfo to enjoy quicker approval.

    With MyInfo, your personal details will be filled in automatically and you do not need to submit any supporting documents. This makes your account application much faster and more convenient. 

    Will my data be compromised?

    Data from MyInfo data is safeguarded using end-to-end encryption and multi-layered security. You are also the only individual who can give consent to the use of your personal data on MyInfo.

    Before using MyInfo, you will need to authenticate your identity by logging in to SingPass. Thereafter, you will need to give consent for data retrieval before your personal data can be used to automatically fill your online application form.


    As an alternative to MyInfo, you may also create your account manually. However, kindly note additional supporting documents are required in manual onboarding. Learn more here. 

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  • Yes, you can! Syfe currently has clients from around the world.

    However, please note that due to regulatory restrictions, Syfe's offerings are currently not available to citizens and residents of certain countries and jurisdictions, including the US.

    Please reach out to Syfe Support Team to check if your country of citizenship and country of residence is currently supported.

    For non-Singaporean and non-Singapore permanent resident, kindly note of the following supporting documents required to complete your account registration:

    1. A copy of your valid Passport / Employment Pass (EP) / S Pass / Work Pass; and
    2. ANY ONE of the following documents, dated within the past 3 months:
        • Latest bank statement, or
        • Latest utility bill, or
        • Latest statement from relevant government authorities 

    Do I need to have a Singapore SGD bank account before I can invest?

    No, that is not necessary. If you do not have a Singapore bank account, you may do a wire/Telegraphic Transfer. Alternatively, you may use remitting platforms like Wise or Revolut to transfer funds.

    Ready to open an account? Simply refer to the steps to open an account here. 

     

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  • Due to regulatory restrictions, Syfe's offerings are currently not available to US citizens and residents. 

    If there is any change in your circumstances as to involve you becoming a US person, you should inform us and we may, unfortunately, have to terminate the relationship and close the account. Please rest assured that you will have sufficient time to make a full redemption of current holdings and close the account.

    We do not advise on US tax or any other personal tax matters. You should consult your own tax, legal, and/or accounting advisors before engaging in any transaction.

    Please note that other than the US, Syfe's offerings are currently not available to citizens and residents of certain countries and jurisdictions as well. Please reach out to Syfe Support Team to check if your country of citizenship and country of residence is currently supported.

     

     

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  • If you did not open your Syfe account using MyInfo, you need to submit supporting documents to complete your account registration.

    You can upload your supporting documents during your account set up. If you skipped that step, you can still upload your documents afterwards by logging in to your Syfe account and uploading the necessary documents to complete your account creation.

    For Singapore citizens or Permanent Residents, we require a copy (both sides) of your NRIC.

    For Foreign Nationals, we require:

    1. A copy of your valid Passport / Employment Pass (EP) / S Pass / Work Pass; and
    2. ANY ONE of the following documents:
        • Latest bank statement, or
        • Latest utility bill, or
        • Latest statement from relevant government authorities 

    Supporting documents should not be more than 3 months old from the date that it is received by Syfe. 

    If you face issues uploading your supporting documents through the Syfe dashboard, please email the required documents to support.sg@syfe.com.

    What will happen to my account application if I do not submit all my documents?

    We will not be able to approve your account application if we do not receive all required documents from you. If you have transferred funds to your Syfe account without submitting all required documents, your funds will not be invested until your account is approved.

    You will receive reminder emails from us to submit your required documents. To avoid any delays in approving your Syfe account, kindly provide us with all required documents as soon as you can. 

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  • No, opening a Syfe account is completely free of charge. You do not need to invest immediately after opening your Syfe account and you will not be charged any fees if your account has no investments.

    When you are ready to invest, you may invest any amount you prefer, at any time. Kindly refer to this article to learn more about Syfe's pricing. 

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  • The minimum age required to open an account with Syfe is 18 years old.

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  • Currently, a Syfe account can only be held under a single name, and joint accounts are not supported.

    Rest assured that you will be notified should joint accounts are made available in the future.

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  •  

    Each individual institution has its own personal account dealing policies in order to ensure that its employees conducts are free from conflicts of interests. Typically, discretionary investment accounts are exempted from such restrictions because the Investment Manager has full discretion over the investment decisions. However, if you are unsure on your institution's personal account dealing rules, you should seek guidance from your Compliance department before investing.

    If you are subjected to personal account dealing rules, please reach out to us via email at support.sg@syfe.com. We can provide a confirmation letter to your employer’s HR or compliance department regarding the discretionary managed nature of our services offered. 

    Please note that all Syfe Wealth portfolios, excluding Syfe Select Custom portfolio, are discretionary in nature. On the other hand, Syfe Trade is non-discretionary in nature.

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  • For Singapore citizens and permanent residents, your tax identification number is your NRIC number.

    For non-Singapore citizens and permanent residents, you can find your tax identification number on your tax returns. 

     

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  • When you open an account with Syfe, you are required to declare your country(s) of tax residence and relevant Taxpayer Identification Number(s) – commonly referred to as TIN. Details of your financial assets may be provided to the Inland Revenue Authority of Singapore (IRAS) and such information will be exchanged with the other tax authorities in accordance with the terms of the Competent Authority Agreements and Intergovernmental Agreement for reporting under CRS and FATCA.

    All financial institutions in FATCA and CRS participating countries including other financial institutions in Singapore are required to identify the tax residency of their customers or to-be customers to be compliant with FATCA and CRS.

    From time to time, we may also reach out to you to confirm and/or update your tax residence information to satisfy reporting or other obligations under FATCA and CRS. If there is any change in the information you have provided to us, you are required to inform us immediately so that we can discuss with you whether any other action is required. 

    The Foreign Account Tax Compliance Act (FATCA), is a US law that requires financial institutions around the world to identify and submit information on financial accounts held by US persons to the US Internal Revenue Service (US IRS). FATCA came into effect in Singapore pursuant to the Model 1 Intergovernmental Agreement (IGA) entered into between Singapore and the US on 5 May 2014. Singapore financial institutions are subject to annual reporting obligations starting with reporting year 2014. For more details, please refer to: https://www.iras.gov.sg/irashome/Quick-Links/InternationalTax/International-Tax-Compliance-Agreements/

    The Common Reporting Standard (CRS) is an information-gathering and reporting requirement for financial institutions. Its main objective is to improve tax transparency and reporting through information sharing about financial assets of tax residents in participating jurisdictions CRS came into effect in Singapore via tax legislation on 1 January 2017. Singapore financial institutions are subject to annual financial reporting obligations starting with reporting year 2017. For more details, please refer to: https://www.iras.gov.sg/IRASHome/QuickLinks/International-Tax/Common-Reporting-Standard--CRS-/



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  • IRS Form W-8BEN is used by a non-US person to establish non-US status, to claim beneficial ownership of the income for which the tax form is being provided and, if applicable, to claim a reduced rate of, or exemption from, withholding as a resident of a non-US country with which the US has an income tax treaty. 

    You need to have a valid W-8BEN form in order to trade in U.S. markets.

    How do I update my W-8BEN form?

    If, at any time, you change your country of legal residence and/or tax residence or become a U.S. person, please notify Syfe as soon as practicable in writing to support.sg@syfe.com.

    Does the W-8BEN form require renewal?

    The W8-BEN form has a validity of 3 years and clients are required to resubmit after the 3rd calendar year. We will notify you in advance when your W8-BEN form is about to expire for renewal.

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Still need help?

Reach out to our customer support team at any time
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