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Opening Bank Account In Singapore - SINGAPORE Company

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Singapore companies have plenty of options about to opening bank account in Singapore. Most of the bank in Singapore offer attractive features, such as multi - currency account, online Banks, credit card, trade financing, free countries will fund. Opening bank account in Singapore is a relatively simple and direct program. However, you opening bank account in Singapore, it is important to compare company account characteristics, decide the bank to bank recently, meet the customer's needs.

Opening Bank Account in Singapore Requirements

  • In general, Singapore banks have the following requirements for opening bank account in Singapore for Singapore companies. Generally, the list of documents required include:
  • - Completed Corporate Account Opening Forms (signed by authorized signatories as per the board resolution)
  • - Board of Directors Resolution sanctioning the opening of the account and the signatories to the account (most of the banks have their own format and you just need to sign it)
  • - Certified True Copy of Certificate of Incorporation (must be certified by the company secretary or one of the directors)
  • - Certified True Copy of Company’s Business Profile from Company Registrar (must be certified by the company secretary or one of the directors) Certified True Copy of Company’s Memorandum and Articles of Association (MAA) (must be certified by the company secretary or one of the directors)
  • - Certified True Copies of Passport (or Singapore IC) and Residential Address Proof of Directors, Signatories, and Ultimate Beneficiary Owners. If you are in Singapore, just bring the originals and the bank will make a copy.
  • The banks may require additional documents on a case by case basis. Many banks require that the account signatories and majority directors be physically present in Singapore for paperwork signing at the time of opening the company bank account. Some banks will accept the signing of documents at one of their overseas branches or in front of a Notary Public.
  • Almost all major banks of the world have their presence in Singapore. Banks are happy to open a corporate bank account for Singapore as well as offshore companies as long as the necessary account opening paperwork is submitted and the banks are satisfied with the information provided.

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission.

If you would like further information concerning Opening Bank Account in Singapore, please contact our professionals and we will provide you with free advisory.

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