Current Account Singapore is the attainment of a SGD or USD bank account in Singapore. We can help you open and manage a business account 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 on-boarding processes. We work with you to carefully review each banks requirements and services to better understand if your banking service needs.
Personal Visit is not required.
- Must be bundled with Business license Singapore;
- kimbocorp will conduct payroll management to manage transactions for the User;
- User will be added as a signatory to the account after they conduct a face-to-face interview with the bank;
- Account can then be handled over to the User to manage in full. kimbocorp will charge a handover fee to handover the account to the User;
- Processing times for Users without a residential status in Singapore are longer.
What we deliver for the monthly rate (after pre-approval)
- 100% foreign-owned corporate bank account denominated in SGD or USD with a Physical Top 6 bank in Singapore, setup in accordance with FATF recommendations;
- Payroll services provided by kimbocorp to pay invoices and expenses.
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 remotely?
- 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.;
- The Bank will take 1-3 weeks to make a decision after all documentation is submitted. When approved bank will provide the account number. We will then provide you the same to start depositing funds;
- You continue to make use of the bank account to receive payments and pay suppliers;
- You send us the instruction to pay invoices, salaries and expenses.
How do you make your own transfer in/out without using kimbocorp?
- You need to be in Singapore physically to allow us add you as a signatory;
- Once you are a signatory;
- You can continue to keep us to provide payroll services by continuing to pay a monthly fee;
- Or you can takeover the payroll services yourself, we will charge a small handover fee for you to take control of the account.
What happens if we stop paying kimbocorp monthly?
Who is this for
For business owners who needs 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 for the bank account.
Why you should get it
A SGD or USD 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:
- SGD or USD corporate bank account 100% owned by foreign business owner, managed by kimbocorp, setup in accordance with FATF recommendations;
- 100% delivery or money-back;
- 1-3 week turnaround (depends on business activity);
- Remote setup.