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Bank account opening service in Singapore for Singapore companies and individuals
10 years of collaboration with esteemed banks such as OCBC, UOB, DBS, Standard Chartered, and Citibank.
5 reasons opening a Singapore bank account is your go-to choice
Home to top trusted and esteemed banks
Singapore is a hub for esteemed global and domestic banks, including OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered Bank. You enjoy a multitude of options and a high success rate when opening bank accounts in Singapore.
In fact, not only foreign investors setting up Singapore companies but also international businesses opt for Singapore to open their bank accounts.
Global financial integration
Singapore's banking system seamlessly integrates into the global financial network. This connectivity enables businesses to receive funds and make secure, legal payments worldwide through their Singapore-based corporate bank accounts.
Singapore: Top Financial Center
Singapore is consistently ranked as the world's third-leading financial center, according to the Global Financial Centers Index (GFCI). This recognition underscores Singapore's exceptional financial strength and its ability to attract global investments and businesses.
Multi-feature bank accounts
All banks in Singapore offer multi-currency accounts and modern internet banking services. There are no restrictions on liquidity transactions and international payments.
Physical bank accounts for Singapore companies come with additional features such as mobile banking, QR code, and debit card options for convenient payments.
Trusted online banking
Online bank accounts, particularly those offered by reputable digital banks recognized by the Monetary Authority of Singapore (MAS), are gaining popularity. Many businesses choose these accounts for their manageability, user-friendly interfaces, and cost-effectiveness.
These are services we trust and recomend for our valued clients.
Opening a corporate bank account in Singapore with success
As one of the world's premier financial centers, Singapore offers a wide range of top-notch banking services tailored to corporate clients with a Singapore company.
Discover the latest insights and guidelines for opening a corporate bank account in Singapore with our comprehensive article.
In collaboration with our partner banks in Singapore, Global Link Asia Consulting strives to provide a seamless and successful experience for your banking needs, with our fast-track procedures, excellent consultation and support.
What to consider before choosing the best suitable bank for your company?
Whether you are a Singapore residents or non-resdients, there are universial elements to choose your suitable account:
Evaluate the anticipated frequency and scale of your financing activities to ensure that the chosen bank can adequately meet your company's needs.
Identify specific financial services your business may require, such as multi-currency trading, financial management, loans, and Letters of Credit. Choose a bank that offers these services.
Take note of the minimum balance requirements set by the bank for the selected account to avoid unnecessary fees or penalties.
If your company deals with multiple currencies, ensure that the bank supports the currencies involved in your Singapore company's trading activities.
Check the bank's transaction fees and opt for a bank with favorable fee structures. We, as a bank partner with an extensive network, provide advice on banks with the best fees that align with the business needs of the enterprise.
Assess the ease of conducting transactions with the bank, considering factors such as the availability of online banking platforms, mobile apps, and responsive customer support. Choose a bank that offers convenient and accessible transaction options.
Why it is so hard to open a Singapore bank account for foreigners?
Opening a corporate bank account in Singapore, especially with traditional banks, can be a time-consuming process for foreign shareholders, often taking between 6 months to 1 year. The process involves:
Submit application
Initial KYC verification
Interview with banker
Account approval
For foreign entities and foreigners, bank account opening is stringent due to the limited availability for verification. Consequently, banks impose more stringent procedures and demand more detailed information from foreign customers.
It's crucial to recognize that banks are obligated to conduct thorough customer due diligence checks to comply with regulations preventing money laundering and terrorist financing. This necessitates collecting comprehensive information in advance to distinguish legitimate businesses from illegitimate ones.
Compliance officers at banks scrutinize company activities, particularly in the case of startups with no established business history. Therefore, detailed information and supporting documents are crucial for banks to evaluate a company's operations and risk profile.
Our banking experts at Global Link Asia Consulting are proud to:
Offer you assistance in selecting banks with the most favorable fees that align with your specific business needs of the enterprise.
Establish a digitalized robust KYC (Know Your Client) process that guarantees to offer you an accurate opening success rate and guidance on the most suitable bank type for clients even before contractual agreements are finalized.
Our comprehensive support for entrepreneurs includes:
Consult on banks with the best opening and maintenance fees
Consult on the most suitable banks for your business
Access to our advanced KYC procedure
Help you open successfully at least 1 business bank account
Support after account opening
Why you should consider open a digital bank account in Singapore?
While the conventional approach of establishing a corporate bank account with traditional Singapore banks such as OCBC, DBS, HSBC, Standard Chartered has been the primary choice for both local and foreign businesses, digital banking is gaining significant traction in recent times. Nowadays, many business choose digital banks (like Wise) which operate exclusively online with no physical branches: You can conveniently manage your finances using smartphones and computers.
Digital banks, like Wise (formerly TransferWise), operate exclusively online without physical branches, allowing customers to manage their finances conveniently through smartphones and computers.
Digital banking presents several advantages for businesses, including swift and streamlined account opening processes, minimal initial deposit requirements, competitive fees, efficient and cost-effective international transfers, simplified management of multiple currencies, and more. In many situations, it can be a viable and advantageous option.
A chance you can not miss today!
For detailed information, please consult Global Link Asia Consulting's comprehensive guide on how to open a digital bank account for Singapore companies.
Types of Banking system in Singapore
You can choose to open a bank account in 2 ways fo your Singapore Company:
Open a bank account in Singapore with a traditional bank
Open a bank account in Singapore with a digital bank
- Banks without physical branches; and
- Support 100% online through fintech-driven application technology.
Checklist for opening a corporate bank account in Singapore for foreigners
The bank will require the following information and documents from foreign entrepreneurs and companies who own a company in Singapore:
Difficulty in preparing documents on your own?
Proof of Singapore company including business profile, certificate of incorporation, and so forth.
Proof of identification of directors, shareholders, ultimate beneficial owners.
Company information (company types, business model).
A website and sales brochure. A professional website clearly demonstrates business activities. This is the minimum requirement to open a bank account for a Singapore company. If you do not have a website, we help you design a professional website with international standards for customers opening bank accounts with Global Link Asia Consulting.
Invoices, contracts.
The difference in the way we offer our banking service
As a pioneer with +10 years of experience, our experts have helped many business owners successfully set up and manage their Singapore companies. We take pride in our service and professional support.
Discover why many businesses choose us
| Global Link Asia Consulting | Law company | Other corporate service provide | |
|---|---|---|---|
| Trusted partner with profound local knowledge of each bank and their banking services | |||
| Consultation on various types of bank accounts with an evaluation of success rates from the outset | |||
| Ongoing support throughout the entire process of opening a bank account | |||
| Gurrantee to successfully open at least one account |
Which is the best choice for your company?
Requirement for an offline bank interview.
Discover endless benefits of a digital bank today!
Opening a personal bank account in Singapore with success
Not only we help you open a Singapore corporate bank account for your Singapore company and offshore ones, we help you open your own personal bank account at top banks in Singapore.
Our comprehensive support for entrepreneurs includes:
Consult on banks with the best opening and maintenance fees
Our 5 step personal account opening process for you
- 1
Understand your needs
- 2
Confirm the service and prepare document
- 3
Submit documents
- 4
Arrange a bank interview
- 5
Follow up until your account approval
Step 1: Understand your needs
Understanding your requirements and assessing the likelihood of success, we then consult you on the most suitable types of banks.
Step 2: Confirm the service and prepare document
Upon determining the services needed, we confirm the details and provide instructions for preparing the required documents.
Step 3: Submit documents
We meticulously review the documents, ensuring they are in optimal condition, and submit the best-prepared version to the bank.
Step 4: Arrange a bank interview
We facilitate the process by scheduling an interview with the bank, providing support throughout the interview process.
Step 5: Follow up until your account approval
We maintain ongoing communication with the bank to ensure a smooth process until your acountng opening success. In cases where the initial attempt is unsuccessful, we extend support for applications with other suitable banks.
Why you should choose Global Link Asia Consulting as your trusted partner in Singapore bank account opening
A trusted long-term relationship with our banking partners.
Developted KYC system that offers you guidance on the most suitable type of bank with the highest success rate.
Dedicated support team that answers your questions and guide you through every step of the way.
5-star customer service.
Technology-driven bank account opening process that is fast-track and streamlined.
5.0 / 5.0 reviews
Lucas Duong [...] The banking team is really enthusiastic and experienced; they answered all myquerries and helped me during the interview and get my bank account approved. Highly recommend!
Linda [...] They guaranteed to help me open at least a bank account anh they did. Their commitment to support has helped my company have an extremely good backup plan.
FAQs
We partner with top major banks in Singapore, from famous domestic to esteemed international ones. We can help you open a company bank account in Singapore in a quick and professional manner.
Opening a Singapore bank account for legitimate businesses with valid reasons is a straightforward and easy process. By following the defined steps and submitting the required documents (with clear, trusted information), both foreigners and Singaporeans can easily open a bank account without any complications.
Some banks offers better terms for some business sectors. In general, the best bank for small businesses in Singapore are:
1. OCBC Bank;
2. DBS Bank;
3. UOB.
News and Articles
Global Link Asia Consulting is ready to help
Let Global Link Asia Consulting help you open a Singapore bank account to create business breakthroughs.
More than 700 business owners have chosen Global Link Asia Consulting to establish companies and make breakthroughs in the international market through Singaporean bank accounts. Contact our consulting experts now for the best support.
Office address
470 North Bridge Road, #05-12, Bugis Cube, Singapore (188735).
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