How to Open a CDP Account in Singapore (2025 Guide for New Investors)

You’ve probably heard it a hundred times—“Start investing already!” And honestly, they’re right. 

Maybe you’ve downloaded a robo-advisor, opened a trading app, or scrolled through TikTok finance tips at 2 am. But before you can buy your first REIT or snag those Singapore Savings Bonds, there’s one thing standing between you and your portfolio: a Central Depository (CDP) account.

Think of the CDP as your investment safehouse. It’s where all your Singapore-listed assets live. The good news? Opening one is no longer a bureaucratic nightmare. It’s quick, digital, and entirely paperless. Here’s how to get yours sorted fast and easy.

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What is a CDP account?

A CDP account is your personal investment vault for SGX-listed assets. It doesn’t hold cash, but stores your Singapore stocks, Singapore Savings Bonds, Treasury Bills, and more—all under your name.

Whenever you buy something on SGX, whether it’s through a traditional broker like POEMS or a low-cost app like moomoo, your investment needs a place to go. If you’re using a CDP-linked broker, your assets are deposited directly into your CDP account. That makes you the legal shareholder.

Not all brokerages do this. Many newer platforms use a custodian (or nominee) account, where the broker holds the shares on your behalf. It’s cheaper and more automated, but you’re not the named shareholder. With a CDP account, the shares are held in your own name, and that difference comes with real benefits:

• You have direct ownership of your investments.
• Dividends go straight into your bank account, with no third party in between.
• You can attend AGMs and vote like a true shareholder.

Therefore, if you’re investing in Singapore stocks and bonds in 2025, a CDP account remains the gold standard. It’s free to open, easy to manage, and widely supported across brokers, especially for those who want long-term control or simply prefer to see their name on the shareholder list.

How to open a CDP Account

Gone are the days when opening a CDP account meant printing forms, photocopying your IC, and making a trip to the mailbox. In 2025, the process is entirely digital, streamlined through Singpass, and takes just about 10 to 15 minutes.

Here’s how to get started, step by step:

Step 1: Ensure you meet the basic requirements

Before you apply, make sure you tick these boxes:

• You are at least 18 years old
• You are not an undischarged bankrupt
• You have an active local bank account with any of these: DBS/POSB, OCBC, UOB, Maybank, HSBC, Standard Chartered, or Citibank

If all three apply, you’re good to go.

Step 2: Apply online via Singpass (Singapore Citizens & PRs)

If you’re a Singapore Citizen or Permanent Resident, use the SGX CDP Online Portal and log in with Singpass. MyInfo will auto-fill most fields based on your government records.

You’ll need to:

• Upload a clear image of your signature (scanned or photographed)
• Confirm your bank account details for dividend crediting
• Declare if you are a tax resident in another country (for CRS compliance)

Tip: Make sure your bank account name matches your CDP account name exactly to avoid dividend payout issues.

For foreigners (without Singpass access)

If you’re a foreigner living or working in Singapore, you can still apply online, but you’ll have to enter your details manually. Documents required include:

• A copy of your valid passport or Malaysian IC
• Proof of local residency (e.g. work pass, utility bill, bank statement, CPF contribution slip, or IRAS notice)
• A specimen of your e-signature

Applications are submitted via the SGX website.

Step 3: Application review & approval

Once submitted, your application typically takes about 5 working days to be processed. If approved, you’ll receive a CDP Securities Account Number via email or mail. You can log in to the SGX portal anytime to view your portfolio, transaction history, and dividend records.

Step 4: Link your bank account for dividends

Linking your CDP account to your bank account is essential for Direct Crediting Service (DCS). This ensures that all dividends from your SGX-listed shares, REITs, T-bills, and SSBs are deposited directly into your bank account—automatically and without delay.

Important: Singapore will go fully chequeless by the end of 2025. If your bank account isn’t linked, you might not receive your dividends at all. Always ensure your banking details are updated and accurate.

Is there any other way to open a CDP account?

Yes, if you’d rather skip the DIY route, many brokerages in Singapore can help open your CDP account on your behalf when you sign up with them. Here’s a handy breakdown:

TL;DR: Let your broker handle the CDP setup

Planning to invest in SGX-listed stocks, REITs, or T-bills? Most major brokers now offer a one-stop onboarding process, which means you can open your CDP account directly through their platform when signing up. It’s fast, seamless, and eliminates the need to manually upload documents or navigate the SGX website.

• Ideal if you’re unfamiliar with Singpass or the CDP portal
• All paperwork is submitted on your behalf
• Your CDP account is automatically linked to your trading account

Already have a CDP account? No problem—your broker will simply request your CDP Securities Account Number and link it to your trading platform, so you can start trading immediately.

How do you start using your CDP account?

You’ve opened your CDP account, received the confirmation email, and logged in, only to see an empty dashboard. Don’t worry, that’s normal.

Your CDP account is just the vault. To buy or sell SGX-listed stocks, bonds, or T-bills, you’ll need to link it to a brokerage account. Think of your broker as the shopfront and your CDP as the safe at the back. The broker handles trades; the CDP keeps your investments under your name.

Step 1: Link your CDP to a brokerage

Once your Central Depository (CDP) account is set up, the next move is to open a trading account with a brokerage that supports CDP-linked trades. This is what allows you to start buying and selling SGX-listed stocks directly under your name.

When setting up your brokerage account, you’ll typically need to:

• Enter your CDP Securities Account number
• Authorise the broker to access your CDP holdings
• Link your bank account (usually the same one tied to your CDP for settlements and dividend payouts)

Some brokerages will auto-link your CDP if they helped you open it in the first place. Others may prompt you to complete a short e-form for CDP authorisation via email or app.

Pro Tip: You’re not locked in. A single CDP account can be linked to multiple brokers, giving you flexibility to switch platforms, compare fees, or access different trading tools—all while keeping your stocks safely in your own name.

Step 2: Start trading like a (responsible) adult

Once your brokerage account is linked to your CDP, you’re ready to trade SGX-listed assets with full ownership. Every stock or ETF you purchase will settle directly into your Central Depository account, not your broker’s custody.

Here’s what you can now do:

• Buy SGX-listed stocks and ETFs, holdings go straight into your CDP
• Sell them anytime, even through a different CDP-linked broker
• Receive dividends credited directly to your linked bank account
• Join AGMs, vote, and participate in rights issues or dividend reinvestment plans (DRIPs)

Unlike custodian brokers that may charge withdrawal or corporate action fees, CDP-linked investing remains fee-free, transparent, and secure. You’re the legal owner—and that matters.

What about notifications?

• Your broker will send contract notes
• CDP will email monthly holding statements, or anytime there’s account activity
• Dividend and corporate action updates will also come via email—replacing the old-school paper letters

Even if you’re holding long-term and doing nothing, your CDP account keeps you informed—so you’re never out of the loop.

Final words

Whether you’re investing for dividends, capital growth, or just to stop inflation from nibbling at your savings, your CDP account is where investing begins. It gives you direct ownership, clear records, and the flexibility to switch brokers anytime while keeping your investments in your name. Today, it’s much easier to open, link, and start using your CDP account.

Of course, that’s not the only way to invest. Custodian brokers offer lower fees and slicker apps, especially for overseas markets. But if you’re building a long-term SGX portfolio—or just want full control—CDP is still the gold standard. The choice is yours. Just make sure you know where your assets are parked before you hit “Buy.”

About the author

Caleb Leong is passionate about travelling the world and getting involved in cross-cultural works. Freelance digital marketing and content writing is a way for him to express himself creatively while earning his keep. He unwinds by diving into a variety of music genres. Living in a digitally disrupted world, he’d like to offer a different perspective on finances to show people the possibilities of what goes beyond a typical “Singaporean life”.