If you are buying, selling, or renting a property with the help of a property agent, one of the first forms your agent will ask you to fill in is a Customer’s Particulars form.
This document is one of the measures property agents need to take to prevent money laundering and counterterrorism financing in Singapore. All agents must get their clients to fill in and sign this form, so that they can verify their clients’ identities and record their clients’ essential particulars.
This is some of the information you will need to provide:
| Individual | Entities (e.g. corporations or societies) |
|---|---|
| Name | Name |
| NRIC number / Passport number / Other forms of identification | Country of registration |
| Date of birth | Registration number |
| Nationality | Registration date |
| Occupation | Main business activity |
You will also be asked if you are the true owner of the property that you intend to purchase or sell. If you are not the true owner, you will have to state the identity of the beneficial owner in the form. The beneficial owner is the person or entity that has an ultimate interest in the property transaction. For example, the beneficial owner of the property could be a company, and the individual could just be the owner “on paper”.
In the event that the beneficial owner is a company, the agent will have to take reasonable measures to understand the ownership of the company and identify the individual who controls the company.
The Customer’s Particulars form is part of the property agent’s checklist for customer due diligence. Property agents have to submit this checklist for all property transactions that they handle to their property agencies.
If you are handling the property transaction on your own, you will not need to fill in a Customer’s Particulars form. However, if you are engaging an agent to facilitate your transaction, do not treat the paperwork as a hassle. Do your part as a responsible customer by cooperating with your agent to complete the form.