A Singapore company formation presents multiples advantages especially for those whom are:
Nationals or residents in a CIS country: Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russian Federation, Tajikistan, Turkmenistan, Ukraine, and Uzbekistan
Engaged in complex business models
Residents in Asia willing to diversify their risks exposure
Singapore is the perfect complement to Hong Kong
The logic behind this simple fact is that the banks in Singapore are willing to accept what Hong Kong or Macau systematically rejects.
A Singapore company formation require the hiring of a local individual director, this pre-suppose that the selected individual will access the company information:
In term of business activities
In term of accounting and audit
And will have at least a bank consultation right
Opening a bank account in Singapore will necessitate a bank interview and the preparation of a full compliance report, usually resident of CIS countries are welcomed IF the expected turnover is superior to USD 10 million.
Because of the individual director presence, the Singapore Company with bank account opening is a costly process compared to Hong Kong and might be considered as less efficient for enterprises dealing with China.
Are you qualified to open a bank account in Singapore?
To understand if you are qualified for a bank account opening in Singapore please contact us with the following information:
- The nationality of the ultimate beneficial(s) owner(s)
- The detailed company activities
- The location of the suppliers and clients
- The expected turnover of the ultimate beneficial(s) owner(s)
The opening of a personal bank account in Singapore is as everywhere becoming complicated, we advise client with less than USD 1 million deposit to not waste time trying to do so.
As in Hong Kong the BVI’s companies will see termination or rejection of their corporate bank account in Singapore, still jurisdictions such as Seychelles and Samoa with similar characteristics are accepted and are offering an easier and less costly maintenance.
Opening a Singapore company should be accompanied by professionals, first to make sure that the company bank account will be opened smoothly and also because of the evolution of laws and regulations.
If you are willing to open a bank account in Singapore for an existing company we could successfully introduce you after an enhanced due diligence.
Our added value: we have no rejection when we introduce qualified clients to one of the major Singaporean bank.
Fast and Reliable Service: 5 to 8 days
Your company in Hong Kong from 800 USD