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+86 400 118 5939
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Tel：+86 400 118 5939For many domestic enterprises, whether it is international trade investment, overseas real estate, cross-border e-commerce, or overseas investment and financing, the first step is to open an overseas bank account for fund transaction management. For a long time, when it comes to overseas accounts, many people would think of Hong Kong offshore accounts. However, since the implementation of the CRS policy in Hong Kong, Hong Kong banks have strengthened their account control measures, making it difficult to open an account in Hong Kong. After being influenced by the CRS policy and the international anti money laundering movement, Hong Kong banks have become increasingly stringent in terms of account opening conditions, while Singapore is significantly better than Hong Kong banks in terms of cross-border trade, account opening convenience, and account opening information requirements. As the success rate of opening a bank account for Hong Kong companies gradually decreases, opening a bank account in Singapore, which allows for free foreign exchange transactions, has become a hot commodity.
Although the requirements for opening a bank account in Singapore are relatively relaxed, there are still requirements. To quickly and successfully open a bank account in Singapore, it also requires certain skills and understanding of bank account opening policies. In short, the professionalism is strong. Today, we will share with you the advantages and latest policies of opening a bank account in Singapore in 2020.
2、 What are the requirements for opening a bank account in Singapore?
Among the numerous registered offshore companies, the vast majority are trading companies. However, many illegal funds also use trade as a shell to transfer and flow funds. Therefore, both Hong Kong banks and Singapore banks attach great importance to the review of trade documents, and use the review of trade documents to determine the true situation of customers. Authentic and valid trade documents are essential for successfully opening a bank account. But in addition to trade documents, customers still need to prepare other documents to prove their legality and compliance in order to successfully open a bank account. These documents specifically include:
1. Local companies in Singapore:
(1) Singapore company information report, registration certificate, one copy of company articles of association, passport of directors and shareholders, proof of address;
(2) One copy of the personal English resume and one copy of the employment certificate for the director who opened the account. Our company can provide a template;
(3) 1-3 copies of the director's business certificate for account opening, such as business contracts, agreements, invoices, etc;
(4) Fill out the account opening application form.
2. Other overseas offshore companies: (Hong Kong, Cayman Islands, BVI Islands, UK companies, etc.)
(1) One original copy of the agent certification letter issued by the company within six months;
(2) Original certificate of company establishment;
(3) One original copy of the company's articles of association;
(4) Original identification documents and address certificates for directors and shareholders, as well as the company's list of directors and shareholders;
(5) A personal English resume of the account opening director, our company can provide a template;
(6) 1-3 copies of the director's business certificate for account opening, such as business contracts, agreements, invoices, etc.
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