Singapore

Singapore is the financial center for South-East Asia, and, together with Hong Kong and Tokyo, makes the top three financial centers in Asia. The island nation is renowned for its financial stability, globally-competitive financial institutions and well-trained workforce.

Singapore is also a fast-growing offshore banking center. Offshore companies registered anywhere in the world can set up a corporate bank account in Singapore and conduct their investment or trading operations through internet banking.

Top banks in Singapore include DBS Bank, OCBC Bank, HSBC Singapore, Standard Chartered Singapore, United Overseas Bank and Far Eastern Bank.

For Hong Kong companies that are used solely as an offshore vehicle, Singapore makes an extremely interesting location to set up a bank account, to make it easier to distinguish financial transactions (both incoming and outgoing)that are not related to Hong Kong territory and in that regard are not taxable in Hong Kong.

For clients who set up their offshore companies through us, Sinoinvest Consulting can help prepare the documents and introduce you with two of the leading banks in Singapore to have an offshore bank account set up within two weeks. We charge USD250 for this service. You will not need to travel to Singapore to have the account set up. If you reside in mainland China, you can simply have the account opening documents signed at the nearest branch of the bank, which has branches in most major cities (Shanghai, Beijing, Guangzhou, Shenzhen, Chengdu etc.)

Feel free to contact us if you have any queries regarding corporate account opening in Singapore.