What institutions and customers must do
Singapore institutions identify account holders’ tax residences and report relevant account information to IRAS for exchange with activated partners. Customers should provide accurate information and notify changes such as an overseas posting. Even Singapore citizens and permanent residents may be asked for evidence on pre-2017 accounts. For accounts opened from 1 January 2017, the brochure explains self-certification; entity accounts may also require details of individuals who control the entity.
Residence rules differ by jurisdiction
The brochure gives duration of stay for individuals and incorporation or effective management for companies as general pointers, not universal tests. Consult the relevant jurisdiction’s rules and tax authority when necessary. Wilfully false residence information is an offence; the brochure cites potential fines of up to S$10,000, imprisonment up to two years, or both. The document is an introductory overview using the original 2017 account split, so detailed current CRS rules govern actual due diligence.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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