Opening A Corporate Bank Account In Singapore
Ensure your business is partnered with the right local organisations. Ottavia has provided advice and consultation on choosing a local Singaporean bank for businesses across a range of industries. Whether you’re an experienced business-owner or are a new entrepreneur, let us assist.
We understand the fine differences between the different institutions and the different accounts they offer. Our team can guide entrepreneurs new to their industry or to our city through this process, ensuring the most favourable outcome. Rely on our experience to provide you with the information necessary to make the right decision for your organisation, setting you up for future success.
Account opening requirements
In all cases your company will need to have finished the company incorporation procedure and be registered with the Company Registrar prior to opening a corporate bank account in Singapore. Depending on the specific bank chosen, you may be required to be physically present in Singapore to complete the account opening process, but this will vary depending on the specific institution chosen. You will be required to provide a range of documents in addition to the bank’s own corporate account opening forms, listed below:
- Board of Directors Resolution prepared by the company secretary sanctioning the opening of and the signatories to the account.
- Certified true copies of the following, certified by a director or the company secretary:
- Certificate of incorporation
- Business profile from the Company Registrar
- The company’s Articles of Association and Memorandum of Association (where the latter is also used)
- Passports or Singapore identity cards and residential address proof of all directors, account signatories and ultimate beneficiary owners.
Helping your business succeed
Ottavia can help your business make the smart decision in more ways than one. From advice on employment passes to providing a respected virtual office address for your organisation, we offer a range of services helping local and foreign companies reach their full potential.
Get in touch today on +65 6807 0320 or via email at email@example.com to learn more.