Singapore Bank Account Opening Service

As one of the world's four largest financial centers and one of the world's largest international shipping centers, Singapore enjoys a safe and orderly business environment and political stability. Hundreds of banks around the world have branches in Singapore, and many specialized banks offer language services including Cantonese, Mandarin and English.

Advantages of Opening Bank Account in Singapore

• As a sovereign state, Singapore has a sound financial system and better protection of accounts and business information
• No foreign exchange control, free fund transfer, convenient for international trade settlement
• Multiple currency options, free currency conversion, low conversion rate and service charge
• Convenient daily account operation and online bank transactions
• High success rate of account opening with simple process, commonly requiring only true and effective, sufficient certificates and business contracts
• Banks in Singapore enjoy high international reputation and security rating and have many branches
• Banks in Singapore have flexible modes for account opening and no requirement for coming in person, and the Chinese bank managers there account for a high proportion.

Advantages of Having Conpak Assist in Making Appointment for Account Opening

• Conpak has a long-term and stable cooperation relationship with international banks in Singapore
• High comprehensive rating for internal secretary of bank agency, good reputation
• Able to make account opening appointments for both Singapore companies and individuals
• Accurately and effectively providing detailed and professional bank account opening advice to customers
• Providing timely follow-up to the approval process and professional subsequent guidance for bank account opening

Required Documents

• Company registration materials, such as Company Registration Certificate, Business Registration Certificate, Articles of Association, Incorporation Form or Annual Return, etc
• Identification of shareholders, directors and signers and proof of address in the last 3 months
• Proof materials for business, such as orders, purchase and sales invoices, contracts, bills of lading, etc
• Registration materials of affiliated companies
• Personal and affiliated companies' bank transaction records in the last 3 months
• Visa or Master credit cards

Methods of Opening Bank Account in Singapore

• By visiting in person: The directors visit a bank in Singapore in person. Under normal circumstances, the signature documents required for opening an account can be completed on the same day. The account opening is expected to be completed within 20 working days (specifically depending on the bank’s approval time)
• By video conference: The directors witness the bank account opening procedure by video conference or visit in person a specified branch in Mainland China. It takes around 30 working days to open an account (specifically depending on the bank’s approval time)

Procedures for Opening Bank Account in Singapore

• Submitting a bank account opening application
• Approval by the Due Diligence Department of the bank
• Final account number issued upon approval from the Due Diligence Department
• Check Book delivered
• Password for online banking delivered
• Activating online banking password
• First log-in of online banking service
• ATM card and password delivered or obtained
• Depositing start-up funds

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