
Open a Bank Account in Singapore
Singapore is one of the largest financial centers and a top offshore banking destination due to its political and financial stability, its top-notch corporate banking facilities and its broad-range of wealth management services, investment funds, and insurance products.
In addition, Singapore is one of the most reputed international financial centers whose banks consistently onboard companies incorporated in tax-neutral jurisdictions.
However, banks will want to see a solid and legit business backing the company. Offshore companies will need to provide enough supporting business documentation such as business plans, invoices, contracts, letters of intent, etc. to satisfy the bank’s compliance requirements.
Singapore banks are ideal for businesses that require strong transactional banking and cash management services. Companies banking in Singapore have access to some of the quickest and most affordable money transfer services.
Import/Export companies will have access to top trade finance services such as Letter of Credit and Bank guarantees.
Singaporean banks are considerably risk-averse and are not open for companies engaging in high-risk business activities.
For Singaporean e-commerce businesses, a broad range of merchant accounts and credit card processing aggregators are available.
An oasis of financial stability together with the most technologically advanced private banking facilities, excellent customer service and a capital gains tax-free environment makes Singapore the top Asia-Pacific destination for international wealth management services.
We can help you open bank accounts in Singapore.
Accounts are available for individuals.
We work with 9 different banks in Singapore.
Each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services below to better understand if their banking services meet your needs:
- OCBC Bank (Corporate, Personal)
- Citibank (Corporate, Personal)
- Standard Chartered (Corporate, Personal)
- RHB (Corporate)
- DBS Bank (Corporate)
- UOB Bank (Corporate, Personal)
- Credit Suisse (Corporate, Personal)
- Bank of China (Corporate)
- HSBC (Corporate)
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.
Eligibility | Offshore Companies |
Min Deposit | USD 30,000 |
Currencies | USD, SGD, AUD, CAD, HKD, NZD, GBP, EUR, JPY, CHF |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Nexus in the form of client/supplier/partner/contractor in Singapore required.
Client Profile | |
Min Deposit | SGD 200,000 |
Currencies | USD, SGD, AUD, CAD, HKD, NZD, GBP, EUR, JPY, CHF |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Eligibility | |
Min Deposit | SGD 200,000 |
Currencies | Multicurrency, USD, SGD |
Cards | No |
Remote | Yes |
Off-shore non-resident | No |
Other Services |
They can only onboard Singapore companies that has a office set up in Singapore. A face to face is required for the meeting and office visit for KYC.
Client Profile | |
Min Deposit | SGD 250,000 |
Currencies | Multicurrency, USD, SGD |
Cards | No |
Remote | Yes |
Off-shore non-resident | No |
Other Services |
Eligibility | |
Min Deposit | N/A |
Currencies | Multicurrency, SGD, USD |
Cards | No |
Remote | Yes |
Off-shore non-resident | No |
Other Services |
Nexus in the form of client/supplier/partner/contractor in Singapore required. Can only open an account for citizens where SC has a presence.
Client Profile | |
Min Deposit | USD 250,000 |
Currencies | Multicurrency, SGD, USD |
Cards | No |
Remote | Yes |
Off-shore non-resident | No |
Other Services |
Eligibility | Offshore Companies |
Min Deposit | SGD/USD 30,000 |
Currencies | Multicurrency |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Nexus in the form of client/supplier/partner/contractor in Singapore required.
Eligibility | Offshore Companies |
Min Deposit | SGD 250,000 |
Currencies | Multicurrency |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Nexus in the form of client/supplier/partner/contractor in Singapore required.
Eligibility | Offshore Companies |
Min Deposit | SGD 250,000 |
Currencies | Multicurrency |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Nexus in the form of client/supplier/partner/contractor in Singapore required.
Client Profile | |
Min Deposit | SGD 1,000 |
Currencies | Multicurrency |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Eligibility | Offshore Companies |
Min Deposit | USD 3,000,000 |
Currencies | USD, SGD |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Client Profile | |
Min Deposit | USD 3,000,000 |
Currencies | USD, SGD |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Eligibility | Offshore Companies |
Min Deposit | SGD 100,000 |
Currencies | USD, SGD, EUR, GBP, NZD, RMB, AUD, JPY, HKD, CHF, CAD |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Nexus in the form of client/supplier/partner/contractor in Singapore required.
Eligibility | Offshore Companies, Onshore Companies, Local Companies |
Min Deposit | SGD/USD 30,000 |
Currencies | SGD, AUD, CAD, RMB, EUR, HKD, JPY, NZD, GBP, USD |
Cards | No |
Remote | Yes |
Off-shore non-resident | Yes |
Other Services |
Nexus in the form of client/supplier/partner/contractor in Singapore required.