Banking

1. Features of Singapore Bank

  • As a financial hub in Asia, Singapore has easy access for various currencies and banking
  • Differences of initial deposit, average maintenance balance, and application criteria depending on the bank.

2. Available Bank

  • Able to open Singapore Banks account for private limited, Branch, and offshore company

  • Local Bank
    • Most Branches and ATMs Banks: OCBC, UOB, DBS
    • Most convenient and suitable for new company:
      • United Overseas Bank (UOB), DBS Bank
      • Oversea-Chinese Banking Corporation (OCBC)
      • Bank of Singapore (part of OCBC)
      • Far Eastern Bank (part of UOB) etc

  • Korean Bank
    • Advantages of communicate with Korean
    • Convenience of remittance through same system between other Korean banks  
      • KEB Hana Bank
      • Shinhan Bank
      • Woori Bank
      • Korea Development Bank of Singapore Branch

  • Overseas Bank
    • Higher standard of opening bank account, compared to Local Singapore Bank and Korean Bank 
    • Easy to open for existed company and maintain account balance is high
      • BNP Paribas
      • Citibank
      • HSBC
      • Standard Chartered Bank
      • Bank of China
      • Rabobank
      • Royal Bank of Scotland
      • ING Bank, Barclays Bank
      • Credit Suisse
      • Deutsche Bank
      • UBS AG etc

3. Required Documents

  • Biz File by ACRA
  • M&AA
  • Company Brochure & Website
  • Passport/IC Copy of Directors/Shareholders/Authorizer
  • Proof of Address of Directors/Shareholders/Authorizer
  • Contract & Clients/Suppliers Information)

4. Pre/ Post Support

  • Support provision of required documents : Provide and review the forms
  • Opening Bank’s account service : Provide opening bank account service to visit our partner banks: OCBC, UOB, CITI Bank 
  • Interview support : Review and consulting service for sufficient bank’s examination standard 
  • Post support : Support bank's related application and modification service