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Find Out More About The Central Depository Account



What is it?

The Central Depository Account (CDP), is an account to safe keep all the shares you bought through the open market. Operated by the Singapore Stock Exchange (SGX), aCDPacts as a safe for all your stocks. Stocks and bonds that one buys on the SGX are deposited into his personal CDP account.


How To Open A CDP Account?

Step 1: Have at least 1 bank account

To open a CDP account, you will need to link it with a bank account at DBS/POSB, OCBC, UOB, HSBC, Citibank, Maybank or Standard Chartered.


Step 2: Fill up the CDP application form

You can find it on the CDP application website which also has instructions. The exact link to the CDP application form is here. Print out the completed form and sign.


Step 3: Prepare your supporting documents

Before submitting your form, make sure you have attached the following documents:

(1) A photocopy of your NRIC, Malaysian ID card or passport

(2) One of the following: (a) A bank statement from one of the abovementioned banks (b) CPF statement, or (c) Latest IRAS assessment


Step 4: Mail your application

Once you’ve got everything ready, mail the form and supporting documents to the following address:

The Central Depository (Pte) Limited 11 North Buona Vista Drive #06-07 The Metropolis Tower 2 Singapore 138589


Step 5: Wait for notification

You’ll get some sort of notification, most likely by post, when your CDP account has been verified and is ready for you to use.



Are you ready to start your first investment?

Take the first step and sign up now!


References:

MoneySmart.sg. 2020.CDP Account Singapore - How On Earth Do You Open An SGX CDP Account?. [online] Available at: <https://blog.moneysmart.sg/invest/cdp-account-sgx/> [Accessed 1 April 2020].



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