Top Questions From Citizens
- If you are a Singapore Citizen, please liaise with the Immigration and Checkpoints Authority of Singapore (ICA) for passport application or renewal matters.
What are the required documents to claim my trust money in Singapore?
If you are living in Singapore In order for us to pay the monies to you electronically, please send us by post or our e-Services (Submission of Supporting Documents), a clear copy of:
- your identity card (front and back); and
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front page of the bank passbook or bank statement. For a payment request to a third party bank account, both the beneficiary and the account holder(s) must execute the appropriate indemnity form (Form 15), which is available for download at our website. For other non-electronic modes of payment, the beneficiaries will have to bear all the charges imposed by the bank(s) which will be deducted directly from the inheritance.
Please indicate our case reference number on your documents.
Can a bankrupt travel for work?
Bankrupts are allowed to leave Singapore for work with the prior approval of the Official Assignee for the permitted period of travel. Please submit your travel applications at least 14 days before your intended date of travel online at our website (under 'Individual Insolvency' -> 'Insolvent Person's Portal').
What is the Individual Insolvency Search or Bankruptcy Search ?
The Individual Insolvency Search provides members of the public with information on all individuals who are either under the Debt Repayment Scheme or who have been made bankrupt by the High Court of Singapore. The search also provides information on individuals who have been discharged from bankruptcy in the last 5 years.The status of companies under compulsory liquidation can also be found here.A fee of $6.00 will be charged for each search.Note:-
A null result is considered a valid search result and a charge will be imposed for the said result.
- Please do not use the Back, Forward or Refresh buttons on your browser throughout your transaction as this may alter the results.
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What is the effect of an annulment of a Bankruptcy Order ?
An annulment of a Bankruptcy Order puts the debtor in the same position as if there had been no Bankruptcy Order made.How does a bankrupt check the status of travel application? How will I be notified of the outcome?
You can check the status of your bankruptcy travel application by logging in to our website (under 'Individual Insolvency' -> 'Insolvent Person's Portal').
You will be notified of the outcome by SMS.
If you have not been notified of the outcome after 14 days and require an urgent response, you can Contact Us @ OneMinLaw.Which are the Certifying Authorities currently appointed under Computer Output Evidence Regulations?
The following organisations are currently appointed as Certifying Authorities under the Evidence (Computer Output) Regulations:
- Deloitte & Touche Enterprise Risk Services Pte Ltd (expires 23 March 2024)
- Ernst & Young LLP (expires 5 October 2024)
- KPMG Services Pte Ltd (expires 24 January 2024)
- Pricewaterhouse Coopers LLP (expires 14 April 2025)
What happens to businesses that are affected by the changes after 1 May 2024 (e.g. businesses dealing with “precious products” who have yet to be registered as regulated dealers)?
As of 1 May 2024, businesses that have yet to be registered are required to submit an application for registration immediately.
While the application for registration is pending approval, businesses should adhere to the requirements as stated in Part 3 of the PSPM Act. For instance, the following should be implemented immediately:
a) Perform CDD measures in circumstances specified in Sec.16 of the PSPM Act.
b) File Cash Transaction Report (CTR) on designated transactions within 15 business days.
c) File Suspicious Transaction Report (STR) if there is suspicion of ML/TF/PF.
The Registrar may give in-principle approval around 4 weeks after receiving application.
With effect from 1 May 2024, submission of inaccurate or incomplete CTRs will constitute as an offence under the PSPM Act. What if a PSMD made a genuine one-off mistake such as accidentally submitting an incomplete CTR or CTR with typographical errors? Will the PSMD be found guilty of an offence?
The CTR is an important source of information used by law enforcement agencies to prevent ML/TF/PF. Hence, PSMDs should ensure that CTRs are properly filed and not filed simply to meet the CTR filing requirements without checking that it is accurate and complete.
If a genuine mistake was made in the CTR filed, ACD will review the case and consider the facts and circumstances.
I am a watch dealer and do not sell precious stones/metals directly. Must I comply with the cash transaction reporting requirement?
You are required to comply with the cash transaction reporting requirement if you sell any finished product that derives 50% or more of its value from any precious stone or precious metal contained in or attached to that product.I suspect my customer maybe involved in ML/TF/PF activities. What should I do?
If the regulated dealer suspects that a customer is involved in ML/TF, the regulated dealer shall lodge a Suspicious Transaction Report ("STR") to the Suspicious Transactions Reporting Office ("STRO").
This can be done online via STRO Online Network and Reporting System ("SONAR") via https://www.police.gov.sg/sonar. A copy of the STRs submitted through SONAR will be automatically routed to the Registrar simultaneously.
For STRs submitted in hardcopy, the regulated dealer has to ensure that the STR is submitted to the Registrar separately.
Would other high value luxury products such as luxury bags be captured by the updated definition of “precious product” as of 1 May 2024?
High value products which do not contain precious stones and precious metals will not be covered under the updated definition of “precious product”.
Will the inclusion of counter-proliferation financing (“CPF”) as of 1 May 2024 and the new requirements for PSMD to implement CPF programmes and measures) lead to significant changes for businesses/persons?
The new requirement is not expected to result in significant changes on the affected businesses. The implementation of CPF programmes and measures will be similar to those targeted at AML/CFT that PSMDs are already required to put in place.
Examples of such CPF programmes and measures include performing risk assessment, and developing and implementing internal policies, procedures, and controls (“IPPC”).
What is an example of a “precious product” that will be captured under the updated definition of “precious product” as of 1 May 2024?
As of 1 May 2024, the updated definition of precious product would include jewellery, watch, apparel, accessory, ornament or other finished product containing precious stones and/or precious metal, that is priced above the prescribed value of S$20,000.
An example of such a precious product would be a gold watch above the net sales price of S$20,000, even when the value of the gold in the watch is less than 50% of the net sales price.
Will my draft semi-annual return be auto-saved in myPal?
There are no auto-saved features in myPal. You are advised to click "Save Changes" after completing each section in the semi-annual return form. The semi-annual return form in myPal will also prompt you to save your draft submission if you are exiting the semi-annual return form.