Bank Account Singapore SGD is the attainment of a Singapore Dollar bank account in Singapore. We can help you open business and personal accounts with the largest banks in Singapore. Accounts are available for both resident and non-resident companies and individuals. We work with 6 different banks in Singapore. Each bank has different eligibility requirements, types of accounts available and onboarding processes. We work with you to carefully review each banks requirements and services to better understand if your banking service needs.
Personal Visit is required. We offer trustee services if needed.
What we deliver for the deposit (after pre-approval)
- 100% foreign-owned corporate bank account (Singapore Dollar only) with a Physical Top 100 bank, setup in accordance with FATF recommendations.
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal ‘back and forth’ and a smooth account opening process.
How it will be done
- We will assist you in filling out the KYC and Business Questionnaires. In addition to your company and identity documents, you will need to provide certain business documentation to support your application such as invoices, letters of intent, contracts, etc;
- The Bank’s Relationship Manager will review your documentation. The banker may come back with additional questions or give green-light to your account opening process. This usually takes from 1 to 3 days.
- We will arrange your appointment with the Relationship Manager in Singapore. The appointment is usually arranged for the following week subject to the client and bankers availability;
- You will need to visit the Bank’s branch and have a 1-hour meeting with the Relationship Manager. You will need to provide original documents and sign the application forms. The relationship manager will provide you the Internet Banking SecureToken Device, which will be activated upon the account opening;
- After two or three weeks, you will receive an SMS confirming the account opening and providing your account number. You will need to transfer the initial deposit (SGD 1,000).
- After 5-10 days, you will receive via email your Internet Banking credentials.
- After 10-15 days, you will receive your Debit Card
Who is this for
For business owners who needs PHYSICAL CORPORATE BANK ACCOUNT to go with a business registration to conduct businesses related to products and services;
- Design and development;
- Professional services
There are no specific restricted jurisdictions other than those that face international sanctions. A Business connection with Asia is often required. Foreign companies engaging in high-risk businesses and/or conducting an activity which is regulated in Singapore (such as Money transmitter or Forex trading) are not eligible. There are no requirements in terms of business turnover or business size.
Why you should get it
A Multi-currency account provides owner with the following benefits;
- Ability to bid for larger value projects;
- Ability to maintain a workforce;
- Institutional representation in front of larger corporate customers;
- Ability to trade in larger contract values and different currencies
What we guarantee:
- Singapore Dollar corporate bank account 100% owned by foreign business owner, setup in accordance with FATF recommendations;
- 100% delivery
- 10-day turnaround (depending on business activity)