Singapore Corporate Bank Account

A Singapore corporate bank account can be opened without you needing to visit Singapore. Healy Consultants' experienced international banking team will prepare the required documentation and attend a bank interview on your behalf. We are one of the few global professional firms who provide this service. Some points to note when opening a corporate bank account in Singapore include:

Singapore corporate bank accounts are in great demand because of a massive flow of capital from the West into Singapore.

Singapore has strong security laws in regards to the banking industry, including the disclosure of bank account information. Details of the laws governing security of bank account information, and exceptions to this law, are included on this Singapore Law website.

Prior to the Singapore corporate bank account application, Healy Consultants prepares a detailed business plan, highlighting the company's activities and financial projections. This will include providing reasons why the company requires a Singappore corporate bank account.

To enable Healy Consultants to complete the Singapore corporate bank account application, our firm requires detailed information on the company's activities (including proof of business such as examples of contracts and invoices etc), information on the company's customers and suppliers, as well as information about its management team and financial projections.

The Singapore government requires local banks to implement strict 'know your client' procedures for clients opening a Singapore corporate bank account. This is to ensure the capital inflows are legitimate and clean.

Despite strict guidelines, Healy Consultants will assist our client to open a Singapore corporate bank account with minimal inconvenience, assuming the bank receives sufficient information about the Singapore company activities, beneficial owners and bank signatories to the Singapore corporate bank account. Healy Consultants has a 100% record for obtaining Singapore corporate bank account opening approval.

The Singapore corporate bank account is opened at a large international retail bank such as HSBC, Standard Chartered and Citibank. The account will include world-class Internet banking, a corporate cheque book, corporate ATM card and corporate debit card (Visa), if required.

The minimum initial deposit for a corporate bank account in Singapore is US$1,000. Healy Consultants pays this deposit on our clients' behalf.

Following completion of the application for the corporate bank account, your Firm will normally receive a bank account number within two weeks. Internet banking is typically fully functional within two weeks of receipt of the corporate bank account number.

Healy Consultants' fee to assist with opening a Singapore corporate bank account amounts to US$1,800.

Traditional offshore company jurisdictions have come under increased attention from governments fighting against tax evasion activities. Demand for Singapore as a domicile for offshore company formation is strong and contributing to continued growth of the financial services industry in Singapore to meet the needs of the high net worth individuals and entrepreneurs investing in Singapore.