Why You Should Incorporate in Singapore Today
In what follows, we will shed light on why incorporating in Singapore has become a prevailing trend, its benefits, and why you should do it too.
Singapore is situated in the heart of Southeast Asia, making it possible for your business to access a market of 2.8 billion people within a few-hour flights. Singapore’s port is one of the busiest places in the world. Together with Hong Kong, Singapore is renowned as the key financial hub in the region and one of the world’s leading financial centres.
The Singapore Monetary Authority (MSA) performs its functions as a central bank. The country possesses a well-regulated and highly-developed banking industry. Singapore is home of nearly 200 licensed banks including representative offices of international financial institutions. Today, there are 29 full banks, 4 local banks, 99 wholesale and 25 merchant banks offering an extensive range from traditional to sophisticated banking services. All domestic banks, namely DBS Bank Ltd, Oversea-Chinese Banking Corporation Limited (OCBC), United Overseas Bank Limited (UBO), have a strong and stable financial capacity, and are ranked among top financial institutions in the world. Moreover, an increasing number of large reputable financial institutions choose Singapore for their regional headquarter in Asia.
A Singapore company are welcomed to open its bank account in any jurisdictions thanks to the country’s good reputation. We can also help you set up your company bank account in Singapore to take advantage of the country’s modern banking services as well as its sound and safe financial system.
|Country||Bank||Online Banking||Personal Visit||Credit Card||Debit Card||Intial Deposit|
|Belize||Caye International Bank Ltd.||USD 1,000|
|Heritage Bank||USD 3,000|
|British Virgin Island||First Caribbean International Bank||USD 25,000|
|Hong Kong||Bank of East Asia||Contact us for details|
|Fubon Bank||Contact us for details|
|Hang Seng Bank||HKD 10,000|
|OCBC Wing Hang||HKD 25,000|
|Standard Charter Bank||Contact us for details|
|Mauritius||ABC Banking Corporation||USD 5,000|
|Bank One Limited||USD 10,000|
|Mauritius Commercial Bank||USD 50,000|
|Investec Bank||USD 50,000|
|Puerto Rico||Euro Pacific Bank||USD 500|
|Singapore||Citi Bank||USD 300,000|
|OCBC Bank||USD 30,000|
|Switzerland||CIM Banque||USD 20,000|
|UAE||RAK Bank||USD 10,000|
The below list shows popular documents demanded by most banks in Singapore. Banks might require additional docs specific to your case, so we highly recommend you to contact us to get more details.