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Eligibility

Who can sign up for an account?

Currently, we are only allowing Non-US Individual, Corporate Accredited Investors (AI) and Institutional Investors (II) to invest on our platform. 

Please subscribe to our mailing list here to be informed of any changes with regard to this.

What is an accredited investor?

An “Accredited Investor” is defined by the Monetary Authority of Singapore (“MAS”) under section 4A(1)(a) of the Securities and Futures Act (“SFA”), Chapter 289, if he/she meets the one of the following criteria:

For Individuals

An “Accredited Investor” is defined by the Monetary Authority of Singapore (“MAS”) under section 4A(1)(a) of the Securities and Futures Act (“SFA”), Chapter 289, if he/she meets the one of the following criteria:

1) Net personal assets exceeds S$2 million (or its equivalent in a foreign currency) where primary residence does not account for more than 1 million or such other amount as the Authority may prescribe in place of the first amount;

2) Financial assets (net of any related liabilities) exceeding in value S$1 million (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount; or

3) Income in the preceding 12 months is not less than S$300,000 (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe in place of the first amount.

For Joint Account 

In order for a joint account to qualify for Accredited Investor status, they have to meet the following 2 criteria:

  1. At least 1 joint account holder must qualify as an Accredited Investor based on the criteria above.
  2. All joint account holders must opt in for Accredited Investor status

For Corporations

“Accredited Investor” means a legal entity with net assets exceeding $10 million in value (or its equivalent in a foreign currency) or such other amount as the Authority may prescribe, in place of the first amount, as determined by —

  1. the most recent audited balance-sheet of the corporation; or
  2. where the corporation is not required to prepare audited accounts regularly, a balance-sheet of the corporation certified by the corporation as giving a true and fair view of the state of affairs of the corporation as of the date of the balance-sheet, which date shall be within the preceding 12 months; or
  3. where the entire share capital or beneficiaries of the entity is owned by one or more persons, all of whom are Accredited Investors.

For further details, please refer to “FAQs on the Definition of Accredited Investor and Opt In Process” on MAS’s website.

Can a US citizen/tax resident invest with Fraxtor?

Currently, we are unable to onboard investors who are citizens or tax residents of the US.

I am not a Singaporean, can I still invest in Fraxtor products?

Yes, Fraxtor welcomes investors from around the world. However, investment restrictions may apply and will be stated clearly on the Platform and in the Offer Documents. Currently, the only investment assets unavailable to foreigners are Singapore based residential property developments projects.

Fraxtor Account Set Up

If I do not complete my Fraxtor account registration, will my information and documents be kept on the platform?

Any incomplete registrations will be kept on the platform for a period of 3 months from the date of registration, after which all relevant documents will be deleted from the platform.

If you wish to complete your account registration after the initial registration has lapsed, please register for a new account.

What documents do I need to open an account?

When signing up with Fraxtor, the following documents will be required:

For Individuals/ Joint Account:

  1. Proof of Identity: NRIC (front and back) or Passport Biodata Page
  2. Proof of address: Any statement/ bill containing your name and address
  3. Proof of Accredited Investor status 

For Corporate/ Institutional Investors:

  • Memorandum and Article of Association
  • Certificate of Incorporation
  • Proof of the company’s business address if different to its registered address (e.g. a company bank statement or utility bill less than three months old and issued in the company’s name)
  • Latest financial statement
  • Group structure diagram (for entities within complex group structures only)
  • Proof of Identity and Proof of Address for each Ultimate Beneficial Owner and Authorised Signatory/ Representative.
  • Where an authorised signatory needs to be appointed, board resolution needs to be provided.

How do I set up an account with Fraxtor?

For Individuals:

1. Click on this link and click the “Create Account” button.
2. Enter your email address, “Submit” and check your email for an account activation email.
3. Click on the link within your email and enter the account activation code to reset your password. 
4. Select “Individual Investor” and choose your preferred mode of verification. 

For a faster onboarding process, you may verify your identity using your Singpass (for Singapore residents) or Facial Comparison software (passport holders). 

If neither works for you, you may choose “Virtual Verification” where our investment manager will get in touch to schedule a virtual meeting for verification. 

5. To complete the sign up, you will need your identification document (NRIC or passport), proof of address and supporting documents which allows Fraxtor to verify your Accredited Investor status.  

For Joint Account/ Corporate Investors / Institutional Investors:

Please email contact@fraxtor.com and our investment manager will be in touch to assist you with the account opening.

What is Anti-Money Laundering (AML) and Know Your Customer (KYC)? Why do I have to go through this process to gain access to your platform?

As a member of Financial Action Task Force (FATF), a global anti-money laundering and terrorist financing watchdog, Singapore is committed to uphold the FATF standards and to safeguard our financial system.

All financial institutions in Singapore thus play a part in safeguarding our financial system by conducting appropriate checks to prevent and deter money laundering and terrorist financing activities through Singapore. 

As part of Singapore’s financial system, Fraxtor also plays a part in upholding the integrity of our financial system. Thus, our users are required to go through our KYC and AML checks as part of the onboarding process. This check will be repeated periodically in accordance with regulatory requirements.

KYC is a standard procedure used by financial service providers like us, to verify the identity and background of our investors.

AML checks refer to measures used to detect and deter illicit flow of funds through Singapore.

Such rigorous checks, though may appear cumbersome and intrusive to some, play a crucial role in upholding the reputation and integrity of Singapore’s financial system. 

Why does Fraxtor need information on my tax residency?

We are required by tax regulations under Singapore Income Tax Act (Chapter 134), the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) to identify the tax residence of our customers.

I am unsure how to approach the Tax Residency Declaration section, what should I do?

We advise you to consult your accountant or legal advisor.

Do I need to pay when I sign up with Fraxtor as an investor?

Opening an account with Fraxtor is free. However, there will be fees incurred when you invest in our product offerings. 

Can’t find the answers you’re searching for?
Get in touch with us.

contact@fraxtor.com

+65 9678 0773