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Open Bank Account in Singapore

2018-05-23

Open Bank Account in Singapore


Opening Bank Account in Singapore



Singapore is one of the most prosperous countries in the world. It is a well-known financial center with a highly developed economy that attracts large multinational companies to enter its shores. Its banking industry has played an important role in the country's success. Local and international banks can be found in this metropolis.


The Conditions and Process of Opening Bank Account in Singapore


For local company, you need to prepare the documents below:

1.ACRA/Business profile

What is ACRA? ACRA is the national regulator of business entities, public accountants and corporate service providers in Singapore. To register a company to engage in commercial activities, except for special industries that need to apply to the government management department, the company's establishment must be registered with the Bureau.

2.Company Constitution

3.Copy of passport of director and account signer. If the company has two or more directors, a copy of the passport of at least two directors must be provided.

4.The proof of address of account singer, may be bank statement, water and gas bill, telephone bill, etc. during the last three months. Chinese can provide domestic ID cards.


For Offshore Company, you need to prepare the documents below to Open Bank Account in Singapore:


Notice: From February 1, 2017, due to the further tightening of the opening of accounts of foreign companies by the Monetary Authority of Singapore, the bank's account opening requirements for foreign companies have also changed for all banks in Singapore. All foreign companies who come to Singapore to open an account must strictly explain the reasons for opening an account in Singapore. Why is Singapore not the company's place of registration? Whereas the entire trade process did not involve Singapore, banks in Singapore would not be able to accept such accounts.


Hong Kong Company:

1.Company registration certificate

2.Business registration certificate

3.Memorandum and Article of Association(M&AA)

4.Copy of passports of directors, all shareholders and account signers. If the company has two or more directors, a copy of the passport of at least two directors must be provided.

5.The proof of address of account singer, may be bank statement, water and gas bill, telephone bill, etc. during the last three months. Chinese can provide domestic ID cards.


Duty Free Island Company:

1.Company registration certificate

2.Cert. of Incumbency. Need to display the company's registered address, registered capital, shareholder director information, etc.

3.Memorandum and Article of Association(M&AA)

4.Copy of passports of directors, all shareholders and account signers. If the company has two or more directors, a copy of the passport of at least two directors must be provided.

5.The proof of address of account singer, may be bank statement, water and gas bill, telephone bill, etc. during the last three months. Chinese can provide domestic ID cards.


UK Company:

1.Company registration certificate

2.Companies House Search. Need to display the company's registered address, registered capital, shareholder director information, etc.

3.Memorandum and Article of Association(M&AA)

4.Copy of passports of directors, all shareholders and account signers. If the company has two or more directors, a copy of the passport of at least two directors must be provided.

5.The proof of address of account singer, may be bank statement, water and gas bill, telephone bill, etc. during the last three months. Chinese can provide domestic ID cards.



The Bank Account Opening in Singapore we mainly service:

1.DBS BankOpening Bank Account in Singapore

2.UOB – United Overseas Bank

3.OCBC Bank

4.Citibank

5.Bank of China



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Singapore Company Formation

Bookkeeping & Accounting in Singapore



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