What documents do I need to submit when opening a Reap account?
When you sign up for a Reap account, you’ll need to submit the following:
Companies (incorporated in Hong Kong)
Company name; and
Business Registration Certificate number.
This information can be found on the Business Registration Certificate issued by the Inland Revenue Department, as shown by the red circles in the example below:
Directors, Beneficial Owners, Account Users
Date of birth; and
HKID copy (Hong Kong residents); or
NRIC copy (Singapore citizens); or
Passport copy (non-Hong Kong residents/Singapore citizens).
When submitting a passport copy (i.e. for non-Hong Kong residents/Singapore citizens), please provide a copy of the passport’s biometric page (i.e. the page with your photo and personal details).
What other documents may Reap ask for?
If we need further information, our risk/compliance team may ask you to provide additional documents during the onboarding process. These may include:
Business Registration Certificate: issued by the Inland Revenue Department, this document is required for conducting business in Hong Kong. You can obtain an electronic extract of your company’s Business Registration Certificate here.
Certificate of Incorporation: issued by the Companies Registry, this document is issued to all limited liability companies incorporated in Hong Kong.
Annual Return: submitted to the Companies Registry, this document contains all the particulars of your company, including registered office address, names of shareholders, directors, company secretary, etc.
Shareholding chart: a chart showing the percentage ownership and the percentage of voting rights held by the shareholders of your company. In some instances we may need the chart to be signed by a director or verified by a CPA/solicitor of Hong Kong that it is accurate and valid.
Articles of Association: along with the memorandum of association (for companies incorporated before 3 March 2014 only), this document forms the constitution of your company, setting out matters such as director’s responsibilities, constitution and powers of the board of directors, issuance/transfer of shares, and shareholder’s rights.
Financial documents: these include-
Bank statements (i.e. within last 2 months);
Financial statements (i.e. audit reports, typically produced annually); and
Corporate credit card statement (i.e. within last 2 months).
Additional supporting documents: these include sales contracts, invoices, and customer lists (top 10 only), mainly for us to have more context of your company’s line of business (i.e. which products/services your company offers).