The interview by the bank, submission of your documents, and taking your signature can be taken in Hong Kong of mainland China.
The Singapore international bank account (for personal use) is available to applicants who are not residents of Singapore and foreigners. Those who are residents of Hong Kong and mainland China, and foreigners, are eligible to apply for the account remotely.
Get a deep analysis of account opening feasibility from Stephen M.S Lai & Co CPA Limited for free. If your application does not succeed, the Stephen M.S Lai & Co CPA Limited service fee refund is guaranteed.
As of 1 April 2020, the following Singaporean banks support the remote personal account opening application, allowing clients to complete the account opening application in either Hong Kong or mainland China: HSBC, DBS, OCBC, UOB, Standard Chartered, Citibank, Maybank, SMBC, MUFG, Bank of Singapore, UCO Bank, and RHB.
At Stephen M.S Lai & Co CPA Limited, we understand the importance of having a reliable bank account when doing business internationally
For this, we offer our clients the ability to open a Singapore bank account remotely, from the comfort of their own homes in Hong Kong or mainland China. We’ve been providing this service since 2009, and have helped countless individuals and businesses get the support they need to thrive in the global marketplace.
As a foreigner or non-resident of Singapore, you can easily open a personal bank account in Singapore, the world-renowned international banking hub. By applying for an international bank account with one of the several high-quality banks in Singapore, you can complete the entire account opening process without residing in or travelling to the country. This can be done from the comfort of your home in either Hong Kong or mainland China, as all of the Singapore banks have established an overseas presence there. After that, you will be able to get a direct approach to cross-border wealth management opportunities and can spread the word about your company all around the globe with your Singapore personal bank account.
As a world-renowned banking center, Singapore hosts a variety of international banking corporations. These global banks offer comprehensive banking and financial services to clients worldwide. By holding an account with a Singaporean bank, you gain access to a secure and low-cost online banking facility. This allows you to manage your finances anytime and anywhere, as well as enjoy the freedom of currency exchange and worldwide fund transfer.
In Singapore, as in other countries, banks are businesses that seek to earn profits and minimize risks. To this end, banks operate under a set of regulations and policies designed to prevent misuse by criminals. In addition, banks strive to serve their targeted customers in a way that maximizes profits.
However, many Singaporeans are disappointed with their banks because they do not provide detailed explanations when rejecting applications for bank accounts. This lack of transparency leaves many customers feeling frustrated and confused.
At Stephen M.S Lai & Co CPA Limited, we pride ourselves on being able to bridge the gap between Singapore banks and their clients. We have a deep understanding of what banks are looking for in potential clients, and can assess a client’s background and preferences to identify which banks are most likely to accept their application for a remote account. Our assessment is completely free of charge, so you can walk away at any time without any obligation.
In short, you will not have to struggle and waste your energy on opening an account in a Singaporean bank or at least you will not have bad records in the books of Singaporean banks.
The refund of the fee of Stephen M.S Lai & Co CPA Limited is guaranteed
In case of failure of your bank account opening in any Singaporean bank, we assure you that you will get a refund of the fee that you paid to Stephen M.S Lai & Co CPA Limited.
Remote applications for personal bank accounts from supported Singaporean banks are available to non-residents of Singapore who are 21 years old or above and have minimum funding of HK$2,000,000. Applications can be made from either Hong Kong or mainland China.
From 1st April 2020, these selected banks associate in opening a remote personal account application through which the client will be able to complete the account opening application in either mainland China or Hong Kong:
Identity proof: ID card, passport
Address authentication: Bank statements, utility bills.
Per bank account opening the application in US$ 6000
Please note that any third-party fees, and additional services, including but not limited to delivery, document legalization, translation, tax and legal services, may be incurred and charged separately.
1. Free pre-assessment
2. Services confirmation
3. Assistance in documentation
4. Arrangement of interviews in Hong Kong and mainland China
5. Bank approval (or refund)
Our company will analyze the documents that will be required in account opening with a digital copy format and required information from you, then we will send you back the feasibility result of the bank opening account in Singaporean banks to you. The whole of this assessment process is totally free of cost.
Confirmation of Stephen M.S Lai & Co CPA Limited bank account opening assistance service
If you will be agreed to start the account opening application of the selected banks by us, we along with our customers will confirm the services agreement. You will get the invoice along with the agreement.
According to the bank’s requirements, you must submit the required documents in both electronic and hardcopy format to the bank for verification and validation. The documents must meet the bank’s standards, including legalization and translation. We will help you standardize the documents and support you in completing the bank’s related forms to ensure the best quality and thus successful approval.
For clients looking to open a bank account in Singapore, interviews with bank officers are required. These meetings can take place at the bank’s business premises in Hong Kong or mainland China. During the interview, the bank will ask questions about your background and the purpose of the account, inspect your original documents, and have you sign various forms and documents. We will work with you to schedule an appointment at a time that is convenient for both you and the bank and provide guidance on how best to prepare for the interview.
After the interview, the bank will arrange an internal procedure to assess the application. The total time for this process differs between banks. We will actively follow up on the progress. If the bank approves your application, you can activate your new bank account. If the bank rejects it, we will assist you to appeal the decision of the bank, or we will process the refund of the service fee.
Banking institutions in Singapore must adhere to various laws and regulations set by the authorities in Hong Kong, Singapore, and the jurisdictions in which they operate. This includes complying with the Foreign Account Tax Compliance Act (FATCA), the Common Reporting Standard (CRS), the Anti-Money Laundering & Counter-Terrorist Financing program (AML/CTF), and sanction policies enacted in the EU, the UK, the US, the EU, and the UN. As part of their due diligence program, banks are also required to follow the Customer Identification and Verification (“ID&V”) and Know Your Customer. If you require any further information, contact Stephen M.S Lai & Co CPA Limited.