Tel：+86 400 118 5939Address：Room 2810B, Block A, Tianli Central Plaza, Coastal City, Yuehai Street, Nanshan District, Shenzhen, Guangdong Province
Email：info@hyintern.com
+86 400 118 5939
牌照号：TC004750
Tel：+86 400 118 5939As one of the world's largest financial centers, Singapore not only holds a leading position in international finance, trade financing, maritime finance, insurance, and financial operations, but also tends to excel in asset and wealth management. In addition, Singapore is also the third largest foreign exchange trading center in the world, with a well-established financial system that attracts many regional finance professionals to settle here. Nearly one-third of Fortune 500 companies choose to establish their Asian headquarters in Singapore.
For mainland Chinese enterprises, opening a bank account in Singapore has the following benefits:
1. Singapore is the third largest foreign exchange trading center in the world, with no foreign exchange controls, high global currency acceptance, and very low currency exchange rates.
2. Singapore bank account managers can use Chinese, which makes language communication very convenient. The bank has a Chinese operating interface, which facilitates online banking operations.
3. The success rate of opening an account in Singapore is relatively high, and only a few business proofs are required.
Required documents for opening a bank account in Singapore:
1. Copy of company registration documents;
2. Copy of the company's articles of association;
3. Clear copies of the ID cards and passports of the company's directors and shareholders;
4. The personal address proof of the authorized signatory of the account, which can be bank statements, utility bills, gas bills, etc., must be issued within 3 months;
5. Personal resume of the authorized signatory for the account (mainly elaborating on company management experience);
6. Business proof:
a) Trading company: Three copies of sales and purchase contracts for the past three months/corresponding invoices/bills of lading/packing lists/customs declarations, etc;
b) Investment holding company: investment proof (i.e. letter of intent, equity agreement or ownership contract), equity structure;
c) For newly established companies that have not yet conducted business, they need to provide business contracts from affiliated companies in other countries as supporting materials;
d) List of suppliers and customers;
7. Fill out the bank account opening survey form;
If the bank manager needs to supplement documents during the approval process, the specific requirements of the bank shall prevail.
Singapore Bank Account Opening Process:
1. Bank selection: Local top three banks are preferred, but Chinese banks or other international banks can also be selected;
2. Prepare documents: company information, personal identification, business proof, etc. (detailed in the second step);
3. Preliminary review appointment: The initial review of the documents has been approved, and the account opening time has been determined;
4. Face to face/remote account opening: The director visits Singapore in person to meet with the bank manager. During the special period of the epidemic, witness account opening can be arranged without the need to physically visit Singapore;
5. Account opening successful: Obtain account and online banking, activate account;
Based on Hongyuan International's years of experience in opening a bank account in Singapore, the success rate of opening a bank account in Singapore is relatively high due to relaxed local policies and relatively reasonable risk management. Ah
Scan QR code to follow 【Hongyuan International WeChat】
Email: info@hyintern.com
Hotline: +86 400 118 5939
