BANK ACCOUNT OPENING SINGAPORE
 

Why us ?

 
We assist in bank account opening for Singapore Companies/British Virgin Islands (BVI)/Marshall Islands.You may have bank account in any major currencies and with internet banking facility.

Bank Officers (from certain banks) may meet you either in our office or at your convenient place, to assist in completion of bank accounts opening formality.

 
Who should be present ?
 
At least 2 directors and all bank signatories and all beneficial owners must be present in Singapore for bank account opening.
 
Initial Deposit, Maintenance of Monthly Balance and Bank Charges
 
Initial deposit for bank account opening and maintenance of monthly balance with the banks varies. Certain banks charge a fee for bank account opening.
 
Prohibited Activities
 
Money laundering and illegal activities are strictly prohibited and will be referred to relevant Authority.
 
Processing time
 
Bank account can be opened within 3 days-30 days. Bank account opening is subject to approval by each bank. No guarantee.
 
What are the information required by Bank?
 
i.Information required by each bank varies.

ii.These are the information that a bank may normally request:

  • The main activities of your Company
  • Reasons for opening bank account in Singapore (eg Customers and suppliers are from Singapore, operating office in Singapore (to show tenancy agreement) , employing staff in Singapore, directors are working in Singapore, directors are Singapore Citizen / Singapore Permanent Resident / Employment Pass holders etc )
  • List of prospective customers in Singapore and Overseas
  • List of prospective suppliers in Singapore and overseas
  • Anticipated sales/turnover for First Year
  • Anticipated sales/turnover for Second Year
  • How many transaction in a month?
  • Source of finance of your Company
  • Expected incoming fund and from which country
  • Expected outgoing fund and to which country
  • List of products/services
  • Existing Bank Statements for the past 3 months (Company/Directors/Beneficial Owners/Bank Signatories)
  • Existing Sales Invoices
  • Existing Suppliers’ Invoices
  • List of Ultimate Beneficial Owners (UBO). UBO must be a human being.
  • Notarised Passport of Directors/Bank Signatories/Beneficial Owners
  • Notarised Memorandum & Articles of Association (M&AA) of the company
  • Tenancy agreement
 MAJOR BANKS IN SINGAPORE FOR BANK ACCOUNT OPENING
OCBC Bank Singapore *

Updated on 7.8.2017

  • Initial deposit : S$3000
  • No minimum balance for first 6 months . Thereafter , maintain a monthly average balance of S$5,000
  • No monthly account fee for the first 3 months. Thereafter, pay only S$38 per month .

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MAYBANK SINGAPORE