Singapore Offshore Banking

Offshore banking in Singapore benefits from a well-regulated banking system and an international reputation as a globally important and respected financial centre.

Singapore offshore banking projects an ideal image to both the clients, suppliers and even venture capitalists of international entrepreneurs.

Singapore offshore banking strategies are efficient, thanks to i) the Healy Consultants' vast experience in opening Singapore offshore bank accounts for clients and ii) improving customer service in Singapore banks. That said, opening a Singapore corporate bank account remains a challenge due to increased due diligence requirements.

As a global private banking and wealth management hub, Singapore caters to the offshore banking service requirements of wealthy people in Asia and globally.

International entrepreneurs using offshore banking in Singapore benefit from multi-currency accounts and excellent Internet banking, which facilitates global business. Furthermore, Singapore banks offer letters of credit (L/C) support to Singapore companies engaging in international trading. Healy Consultants will assist clients obtain L/Cs and related trading tools.

Foreigners can apply for residency in Singapore if they hold at least S$5 million (approximately US$4.14 million) with a financial institution regulated by the Monetary Authority of Singapore.

Singapore has strong client confidentiality laws, while still committing to the standards upheld by Organisation for Economic Cooperation and Development (OECD) member states.

Healy Consultants works with reputable international banks in Singapore including i) HSBC ii) OCBC iii) DBS iv) Citibank and v) Standard Chartered Bank.

Healy Consultants has helped many clients obtain highly competitive mortgages from Singapore banks for their properties in Asia and around the world. With significantly lower interest rates and simple procedures, Singapore mortgages are a viable, cost-effective and convenient alternative to rival mortgages in locations such as Australia, Canada, the US and Europe.

Healy Consultants' fee to assist our client open an offshore banking account in Singapore amounts to US$2,100. Please note that this fee does not include the initial deposit required by the bank.

For several reasons, demand for Singapore as a domicile for offshore company formation is growing. Hence, the financial services industry in Singapore continues to grow to meet the needs of the high net worth individuals and entrepreneurs investing in Singapore.

Further information about setting up a company in Singapore can be found in our Singapore company registration guide. Or, for more information on Singapore offshore banking contact email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.