Package OJ-3: Singapore bank account for your overseas registered business
About this package
Foreign businesses (i.e. businesses not registered in Singapore) can also open a bank account with Singapore based bank. This can be very helpful if you wish to keep your funds in an economically stable country which has no cumbersome exchange restrictions.
Singapore has abolished exchange restrictions way back in 1978. Businesses are allowed to keep funds in any currency they want and remit it for their business purposes without complex requirements. Overseas businesses find this option particularly attractive.
Since in this case the bank is approving an account for the business registered out of Singapore the checks they carry are usually through. Therefore it is important that you provide all relevant information about your existing business, copies of contracts, invoices etc as requested.
Transcend has necessary expertise to advise you on necessary documentation to get your bank account approved.
We require following documents from you
You can send us scanned copies of these documents, and bring original documents for verification during your visit to Singapore.
Documents must be in English, otherwise official translation will be required.
Package price : To know the package price please drop us a note
Drop us a note to know the cost of this package
What services Transcend provides in this package
|1||Advise and collect all required documents|
|2||Work with the bank representative and get indicative clearance for the bank account for your foreign business|
|3||Arrange your meeting with the bank representative in our office|
|4||Post account opening support|
Process flow : Following steps are involved in this bank account opening process
Provide all relevant details as aboveProvide the scanned copies of documents and our forms with relevant details
Consultation with bank representativeWe will pass above details to the bank representative and get indicative approval for bank account
PaymentYou will be required to make the payment once bank representative provides his indicative pre-approval.
Your visit to Singapore for bank account openingYou will need to visit Singapore for completing bank account opening formalities. Usually a visit for 2 days will suffice.
Bank documentsBank will process your account in few days and send all the documents to you at your address