What a CDP account is
The Central Depository (CDP) is operated by SGX and holds Singapore-listed securities — shares, ETFs, bonds and REITs — in your name on the SGX register. A CDP account is the custody layer: when you buy SGX-listed securities through a broker with a linked CDP account, the securities are held directly in your name rather than in the broker's name on your behalf. This direct registration matters if your broker ceases operations or if you want to transfer securities between brokers without selling.
CDP vs custodian accounts
Not all brokerages in Singapore link to CDP. Some — particularly online and international brokers — use custodian accounts instead, where your securities are held in the broker's name on a pooled or nominee basis. Custodian accounts are common for international and US-listed securities. For SGX-listed securities specifically, a CDP-linked account is the traditional approach and is required for certain corporate actions, rights issues and dividend options that come directly from the listed company. Both structures are legal and regulated in Singapore.
Who can open a CDP account
Singapore citizens, PRs and foreigners with a valid Singapore residential address can open a CDP account. You need: a Singapore bank account (for dividend crediting and settlement), a valid identification document, and a linked brokerage account. Some brokerages handle the CDP account application as part of their own onboarding — you apply for both simultaneously. Others require you to open the CDP account separately through SGX before linking it to the brokerage.
How to apply for a CDP account
The CDP account application can be completed online through the SGX website or in person at CDP's service desk. You will need your NRIC or FIN, a Singapore bank account number (for dividend crediting), and your contact details. The account is usually activated within a few business days of a successful online application. Once active, you link the CDP account to your chosen brokerage — provide your CDP account number to the broker during their onboarding process.
Choosing a brokerage in Singapore
Singapore has a range of licensed brokerages. Local banks (DBS Vickers, OCBC Securities, UOB Kay Hian, Maybank Securities) offer CDP-linked accounts and are familiar to most Singapore-based investors. Independent brokerages such as Phillip Securities (POEMS) also offer CDP-linked trading. Online-first or international brokers often use custodian accounts and are more suited for overseas-listed securities. Compare commission structures, platform fees, minimum account requirements, research tools and the markets each broker gives you access to before deciding.
Costs and fees to understand
Singapore brokerage costs typically include: a commission per trade (a percentage of transaction value, often with a minimum charge), a platform or custody fee (charged by some brokers for account maintenance), settlement fees through CDP (a small per-trade clearing fee), and foreign exchange fees for non-SGD securities. These costs vary by broker and account type. Higher-frequency traders and lower-value trades are more sensitive to minimum commissions. Understand the full cost structure before placing your first trade.
CPF Investment Scheme (CPFIS)
Singapore PRs and citizens who have CPF savings above the required threshold in their Ordinary Account (OA) can invest a portion through the CPF Investment Scheme (CPFIS). CPFIS allows investment in approved unit trusts, SGX-listed securities, ETFs and some other instruments using OA funds. A CPFIS-OA brokerage account is a separate account from a cash brokerage account and must be specifically designated for CPF investing. Expats on Employment Pass who are not yet PR do not contribute to CPF and are therefore not eligible for CPFIS.
What to prepare before speaking with a financial adviser
Before meeting a MAS-licensed financial adviser to discuss investing in Singapore, it helps to have clarity on: your investment time horizon (how long before you may leave Singapore), your liquidity needs (will you need these funds within one to three years), your existing exposure to Singapore assets through employer benefits or CPF, your home-country tax obligations on overseas investment income and capital gains, and whether you want direct securities exposure or prefer funds and ETFs. These answers shape the conversation and the advice you receive.
CDP and brokerage FAQ
What is a CDP account and do expats need one in Singapore?
A CDP account holds SGX-listed securities in your name on the SGX register. Expats who want to buy and hold SGX-listed shares, ETFs or REITs through a local broker typically need one. Without it, securities are held in a custodian account in the broker's name.
Can I open a CDP account before I have a Singapore address?
CDP requires a Singapore residential address for account opening. If you are newly arrived and in temporary accommodation, you will likely need to wait until you have a confirmed local address before applying.
Does SG Expat Desk provide investment advice or help open CDP accounts?
No. This is awareness-only information. For investment advice, speak with a MAS-licensed financial adviser. For account mechanics, contact your chosen broker or the CDP service desk directly.
Related guides
Financial planning questions, financial planning checklist, CPF for expats and PRs, bank account setup, income tax for expats and insurance questions.
General awareness information only. SG Expat Desk does not recommend investments, brokers, products or strategies and does not provide financial or investment advice. Speak with a MAS-licensed financial adviser for personalised guidance.