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Opening a Personal Bank Account in Singapore
A personal bank account in Singapore allows you to operate transfers, investments, and expenses globally from any country without the need to personally visit Singapore. It has become one of the popular offshore account options worldwide. Singapore banks offer multi-currency accounts supporting up to 15 currencies, investment accounts for trading U.S. and Hong Kong stocks, and a wide range of financial products with attractive returns, catering to the needs of global investors. In the current global economic climate, having an offshore account and diversifying assets overseas has become essential for many individuals. As an Asian financial hub, Singapore is known for its stable environment, robust financial system, business-friendly atmosphere, and a well-established Chinese-speaking environment, making it a preferred choice for Chinese individuals seeking offshore bank accounts.
Requirements for Opening a Personal Bank Account in Singapore
1. The applicant must be at least 18 years old
2. The following application documents are typically required:
(1) Personal identification document (passport, ID card, or tax identification document)
(2) Proof of residential address issued within the past 3 months (to demonstrate the applicant's long-term residence, with accurate representation of the applicant's name and address)
(3) KYC (Know Your Customer) documents that meet the bank's account opening requirements and the minimum fund requirement for the bank account (minimum deposit starting from SGD 200,000, without the need to purchase wealth management products)
Opening a Personal Bank Account in Singapore - Application Process
Contract Signing and Document Collection
Sign the contract and collect the necessary documents. Based on your financial plans for the next year and the provided documents, customized materials such as your business profile, financial plan, KYC documents, and CRS information will be prepared to facilitate a smooth account opening process
Receipt of Bank Card and Online Banking Information
The bank will gradually mail your bank card and online banking information to your designated mailing address. Upon receiving the bank card and online banking information, please contact Global Immigration to arrange for activation. The duration for delivery may vary depending on the bank's mailing procedures
Submission to the Bank
After verifying the accuracy, send the signed account opening application form and prepared account opening documents to the Singapore bank via mail
Activation of Bank Card and Online Banking
Once you receive the bank card and online banking information, follow the bank's instructions to activate them. Note: Failure to activate online banking does not affect the transfer and withdrawal of funds from your account
Bank Confirmation Call for Account Opening Details
Upon receiving your account opening application, the bank will call you to verify basic KYC information. Global Immigration will prepare the necessary information for verification in advance and assist in scheduling the call with the bank
Account Usage and Post-Guidance
After completing the above process, you can use your Singapore account for overseas remittances, transfers, and expenses. Global Immigration provides three months of free usage guidance, and you can communicate any usage-related queries through your service group
Why choose Globevisa for opening a personal bank account in Singapore?
Perfect product line makes you worry-free
It has opened more than 200 projects covering venture capital immigration, skilled immigration, passports, visa services, overseas education and overseas real estate, company registration, bank account opening, pension reunion and childbirth, identity renewal, etc., covering more than 40 countries and regions. With a complete vertical product line, tailor-made overseas plans for you.
The project development team makes you feel at ease
Globevisa International Project Development Center is composed of more than 100 people from more than 20 countries around the world, including professional business experts and investment experts. It always adheres to the principle of taking the law as the foundation, taking safety, effectiveness and risk as the principle, and taking project safety as the benchmark to do our best. Efforts are made to ensure the security of customer assets and identity acquisition, so that customers can rest assured.
Online service allows you to communicate without worry
Globevisa provides customers with a VIP member center system, online query of project progress and cost details, which is convenient and fast. Independent research and development of IM customer communication APP, using advanced data encryption technology. Protect customer privacy throughout the process. Exclusive consultant one-on-one service, private conversation, encrypted group chat. Safety first, privacy first.
Good relationship allows you to submit worry-free
In order to enable customers to obtain immigration information in a more timely manner, Globevisa has maintained good relations with governments, embassies, overseas banks, funds, etc. for a long time. Our professionalism and credibility have been praised by many overseas governments. At the same time, government officials also Went to Global China many times to have one-on-one in-depth exchanges with our customers.