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Common Reporting Standard

Home / Common Reporting Standard

CRS is an international standard for exchange of financial account information between jurisdictions. It was introduced to combat tax evasion and protect the integrity of tax systems. Under CRS, Singapore based financial institutions, including Etiqa Insurance Pte. Ltd. (“Etiqa”), are required to obtain information and supporting documents (where applicable) on the tax residency(ies) of customers with effect from 1 January 2017. Information relating to insurance policy(ies) of non-Singaporean tax residents would be transmitted to Inland Revenue Authority of Singapore (“IRAS”) and exchanged with the national tax authority of the country where you are a tax resident.

Who is affected?

The CRS affects all Etiqa customers (Individuals and Entities), but the extent of impact depends on:

  • the type of insurance policy(ies) you have with us
  • your tax residency, i.e. where you live or operate as a business


If you have any questions regarding your tax residency, please refer to the rules governing tax residence that have been published by each national tax authority on the Organisation for Economic Cooperation and Development (“OECD”) website (http://www.oecd.org/tax/automatic-exchange/crs-implementation-and-assistance/tax-identification-numbers/). You may also wish to consult your tax advisor if you require any tax advice.

How does CRS affect you?

Etiqa Customers shall have to provide a declaration on tax residency statuses. Foreign tax residents shall have to complete a self-certification form which includes a declaration of your tax residency(ies). You may also be required to furnish additional information and supporting documents. You shall inform us where there are changes in circumstances that may impact your tax residency(ies). If you require a self-certification from, you may obtain it from your Financial Adviser Representative.

Additional Information

Taxpayer Identification Number
Tax Identification Number is a tax reference number issued by authority of the country of tax residence. Some jurisdictions do no issue a TIN. Instead, they use other types of identification which acts as a functional equivalent, for example, a social security, insurance number, citizen or personal identification code or resident registration number. 

Foreign Accounting Tax Compliance Act
The CRS and Foreign Accounting Tax Compliance Act (“FATCA”) are both tax initiatives introduced to reduce tax evasion and improve tax transparency and accountability. While both the CRS and FATCA might require similar information from customers, additional information might still be requested under the CRS even if you have already provided information under FATCA.

FATCA is a United States (“US”) tax law enacted on 18 March 2010, which is aimed at reducing tax evasion by US individuals receiving income from financial assets held outside US. Financial Institutions outside US, including Etiqa, are required to provide information to the US Internal Revenue Service through IRAS on financial accounts held by US persons. Non-compliance will subject Etiqa to 30% withholding tax on payments received from sources within the US levied on non-compliant individuals or entities.

For more information on FATCA, please click here.

Information is accurate as at 3 March 2017.

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Marketing Consent Terms & Conditions

  1. I consent to Etiqa and its related, its agents, authorised service providers and marketing partners collecting, using, disclosing, and/or processing my personal data, in order to contact me about products and services marketed by Etiqa or its partners as well as benefits, promotions and rewards, via the modes mentioned or selected, and using my contact particulars which Etiqa may have in its records from time to time (including where applicable my Singapore telephone number(s));
  2. I confirm and agree that my consents granted herein do not supersede or replace any other consents which I may have previously provided to Etiqa in respect of my personal data, and are additional to any rights which Etiqa may have at law to collect, use or disclose my personal data, unless my consent is withdrawn and notified to Etiqa.
  3. I can choose to withdraw my consent by submitting the Marketing Withdrawal Form at www.etiqa.com.sg or email to customer.service@etiqa.com.sg.

Personal Data Protection Terms & Conditions

I expressly authorise and consent to Etiqa, its officers and employees at their sole discretion, to disclose any and all information relating to me, including my personal particulars, my transactions and dealings and my policies of insurance with Etiqa, to any of the following persons, whether in Singapore or elsewhere:

  1. Etiqa’s related corporations or affiliates;
  2. Any of Etiqa’s contractors or third party service providers;
  3. Any regulatory, supervisory or other authority, court of law, tribunal or person, in any jurisdiction, where such disclosure is required by law, regulation, judgement or order of court or order of any tribunal or as a matter of practice;
  4. Any actual or potential assignee(s) or transferee(s) of any rights and obligations of Etiqa under or relating to my policy or policies for any purpose connected with the proposed assignment or transfer; and
  5. Any credit bureau, insurer or representative, for such purpose(s) that Etiqa in its reasonable opinion considers appropriate including but not limited to the purpose(s) of underwriting, customer servicing, investigation of Etiqa’s representatives and monitoring undesirable sales practices.

Eligibility Conditions

  1. The Insured, also known as the Applicant / Proposer, must be a Singapore citizen, Permanent Resident of Singapore or foreigner with a valid Work Pass, Student Pass, Dependant’s Pass or Long-Term Visit Pass.
  2. The Applicant/Proposer must be at least 18 years of age.
  3. For more information, please view our Policy Wording

Thanks for your interest.

Our Assurance Manager will reach out to you within 2 working days to assist you further.