100 thoughts on “Opening an Offshore Bank Account in Singapore: Update

  1. I'm a British citizen, all Citibank needed from me was a scan of my passport. No national insurance number. No proof of address. No questions.

  2. Hi,

    I basically just need a corporate offshore bank account that can accept US checks from local US banks in USD currency. Does that mean I can just walk into any Singapore bank to open a corporate bank account under my company's name? I have a US corporation in Delaware.

    Thanks

  3. My experience of trying to open an offshore account on a day trip to Singapore (April 2011). I had already established that my first choice, Commonwealth Bank, don't do retail banking in Singapore and that ANZ Bank require a min average balance of US$130,000 or they charge US$50 /month. Walked into DBS Bank at Raffles City and the staff said a non-resident couldn't open an account but they might be able to sell me some other products, they weren't sure. I walked out. Walked into Citibank, Orchard Road (opposite Dhoby Ghaut MRT). They ask for min average balance of only US$20,000 or they charge US$30 /month – they give you 3 months to build it up. Multicurrency account opened in less than an hour, with ATM card and internet banking. I'm British, they didn't ask for my NI number or ask me to sign a secrecy waiver as reported above. I only needed my passport and a credit card from another bank. EASY. Efficient. Extra Bonus – they have their own telephone banking centre in Singapore, unlike Citibank UK who make you use a call centre in India where the staff are expert at raising their customers' blood pressure to dangerously high levels.

  4. Any member suggestions for best NON-US/UK/EU bank for non-resident corporate account in Singapore with NO footprint in US/UK/EU and NOT subject to US FINCEN or FATCA Foreign Account Tax Compliance Act private data mining for non-US citizens or residents?

    • I tracked down his comment and it seems he was interested in opening a bank account in Singapore with a few requirements. I will send you the same information that I sent him!

    • Thanks so much for your comment!! We would be more than happy to send some info your way via email about getting a bank account in Singapore.

    • Mr. Schaffer, thank you for your comment on our blog. I am researching the current information we have regarding opening a bank account in Singapore. I will send you the information as soon as I have it. Thank you.

  5. Same questions as Stefan and Remy from my side. Will have a layover in SG, and thought to utilize this opportunity. Would be grateful for help. Thanks in advance!

    • Thank you so much for your comment. I will send you an email right away with some options on how you can get an answer. I would like to mention that one benefit of becoming a subscriber to the Q Wealth Report is access to our many reports, one of which being the Offshore Banking Guide. There you will find several recommendation for banks all over the world, including Singapore.

  6. Hate to add to your growing list of comments, but could I trouble you for an email as well, concerning Remy’s request? Thank you for the informative article!

    • It is not a bother at all. We really appreciate you taking the time to leave us a comment. I will send you that information via email right away.

  7. If it is not too much trouble, I would also appreciate it if you could send me an email regarding Remy’s request. (March 12, 2015).

    Thanks in advance.

    • It’s not too much trouble at all. I would be happy to oblige. I will send you an email right away. Thank you for leaving us a comment!

    • Of course I would be happy to oblige. If I remember correctly he was interested in an offshore account in Hong Kong. I will send you the same information I sent him. Thank you for leaving us a comment!

  8. This is very vital information. I have desired to have an offshore account in Singapore but without hint. Kindly email me that info Remy requested, I need it too. Thanks…

    • Of course Tim I would be more than happy to send you the same information. Thank you so much for leaving us a comment and thinking of us for your offshore needs.

    • It would be my pleasure. Keep an eye on your email as I will be sending that info soon. Thanks for leaving us a comment!

    • Of course. We have received a lot of inquiries about this subject. I will send you an email right away with the same information I sent him.

  9. Hi, I would like the same info that you gratuitously provided the above people. I am British but am living in Aus, working in Asia and wanting an offshore account, advice much appreciated. Cheers

  10. Would you please provide me the information on how to open a savings account in Singapore in Swiss Franc currency, not USD. I will continue to obey USA banking laws, but wish to save near where I live in Thailand. Thank you.

    • Thank you so much Jim for leaving us a comment. Living in Thailand must be amazing! I will send you the requested information right away about how to get in contact with our experts to figure out how to open a bank account in Singapore but with Swiss Franc currency. Thank you again and have a wonderful weekend.

  11. This is extraordinarily helpful blog which addresses questions that many are considering. I wonder if you wouldn’t mind one more request to forward a reply to Remy’s question and possibly considering a note for readers about reliable third-party providers of corporate accounts. Some are outstanding, some very questionable. Many thanks!

    • Thank you so much Susan for your kind words. Always nice to get feedback on our information. I will send you the same information I sent the other commenters interesting in the same information. It will help you to see your options for getting in touch with our experts and gaining access to reports that will definitely make the process easier. Thank you again for your comment and have a great week!

  12. Hi Aubrey, excellent article. Expat, living in Asia about to sign contract with HK company, need a Non HK bank account for salary. Would appreciate information as well as mentioned above. Thanks

    • Thank you so much Mark for leaving us a comment and I’m so sorry for the slight delay in getting back to you. I will send you more information right away. I hope everything goes well with you and your Hong Kong company!

  13. Hello Aubrey, I’m seeking the information in Remy’s request as well. Could you please share this info? Thanks in advance. BR

    • Ok! I will send that information over right away. Thank you Scott for leaving us a comment and for your interest in the Q Wealth Report!

  14. I would also be interested in receiving info regarding opening an offshore bank account in Singapore or Hong Kong as a US Citizen.

    • Thank you Jim for your comment and your interest in the Q Wealth Report. I will send you the same information on how to get in touch with our experts to get reliable answers to your questions.

  15. Dear Aubrey D, from the Comment: “Remy Dec 16,2014″…Please forward your reply – Singapore w/few requirements to me.
    Thank you: gj5317022@yahoo.com
    i.e. Comment: Remy Dec 16, 2014
    Any member suggestions for best NON-US/UK/EU bank for non-resident corporate account in Singapore with NO footprint in US/UK/EU and NOT subject to US FINCEN or FATCA Foreign Account Tax Compliance Act private data mining for non-US citizens or residents?

  16. Good Morning Qwealth. Signed up but still received no intro course so I’ll see if this gets me further on.

    I’m looking for a safe bank to hold Euros outside the failing Eurozone.

    I’m in the UK so postal/online options would be more than useful.

    Thanks.

    • I will send you an email right away M to see what we can do to fix the technical issue of not receiving the course. Thank you for leaving us a comment!

  17. Dear Aubrey
    Would be very interested in receiving the information regarding offshore company bank account in Singapore and Hong-Kong.
    Which jurisdiction is more open to offshore company bank accounts ?
    Thanks for your help

    Roger

    • Thank you so much Roger for your message! I will send you information right away with how you can get an answer to that question.

  18. I would appreciate suggestions for the best NON-US/UK/EU bank for a non-resident PRIVATE account in Singapore with NO footprint in US/UK/EU and NOT subject to US FINCEN or FATCA data mining for non-US citizens / residents, and accepting account opening online/by post.

    • Thank you so much Ivan for your comment as well as your patience in waiting for a response. I will send you that information right away.

  19. Dear Aubrey
    I’m also interested in receiving information about offshore corporate bank account creation.
    T.Y.

    • Thank you so much Mr. Portuga for your comment and for your interest in the Q Wealth Report. I will send you that information right away!

    • Thank you so much for your comment and I apologize for the delay in getting back to you. I will send you some new information on this subject right away!

  20. Interested in any information you may have on off-shore accounts in Singapore for US citizens residing outside of the US – account should have ability to invest in multiple currencies. Thank you.

  21. Hello, May I also trouble you for the info everyone is so excited about.I also am looking for a account in Singapore. I’m not a U.S. citizen so perhaps that helps.
    Thank you in advance

    • It is not trouble at all. I will send you some information right away. Thank you for your comment and interest in the Q Wealth Report!

  22. Hello. I unfortunately have a business bank account at BPA which has been frozen for three months now. As soon as I will be able to use those funds (it will be any day now as they are telling me) I want to move some money elsewhere, preferably to Singapore. I am an EU citizen. Can you offer me any suggestions?

    • Thank you so much for your comment Dr. Klau. We are sorry to hear about your account being frozen. I will send you some information right away about our options for Singapore. Enjoy the rest of your weekend!

  23. Hi aubrey,
    Please send me information regarding setup of offshore company & bank account in Singapore and Hong-Kong, with online banking, debit/credit card access.
    Which jurisdiction is more open to offshore company bank accounts under USD 30k min deposit?
    Thanks for your help

    • Good question! And one best answered by our experts. I will send you an email right away with options on how to get in touch with them. Have a wonderful weekend!

  24. Aubrey, I would love to receive the same information as Remy requested. I am a US citizen, US non-resident, and Singapore non-resident, currently based in Laos. Looking for best bank account for small business (location independent solo entrepreneur)

    • Not a problem at all Wendy. I will send you some options on how to get in touch with our experts to find the perfect choice for you. Thank you for your comment and have a great weekend!

  25. Is there any information someone can send me on opening a Singapore Bank account? I’m trading in Myanmar and it seems the only option for being paid from there. Thanks!

    • Thank you so much for taking the time to leave us a comment Matt. I apologize for the delay in getting back to you. Let me send you an email with some more information and options for you on how you can get in touch with our experts.

  26. May I ask you for the same information Remy asked ?

    I am a non-US & non-EURO ZONE citizen.

    Is there A reliable low charge on-line banking account
    1. With good access to China A shares, Vietnam, Malaysia & Tailand markets
    2. Without the private banking “advice” fanfare and the high toll.
    3. for approx. ~$1M

    Regards, Matt

    • Thank you so much for your comment Matt! I will send you some information right away and some options on how to get reliable answers to those questions. Thank you again for taking the time to drop us a line!

  27. Dual UK/South African national. Want to open an account in Singapore.
    Will the funds be fully protected and which bank is the best for me.

    • I will send you an email right away with more information and options on how to proceed. I do apologize for my delay in getting back to you!

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