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  • Writer's picturesean huah

Why Every Business Person should have at least one Singapore Bank Account?

Singapore is one of the most developed countries in the world, at the same time it is also the most famous financial hub in Asia and the world.

Singapore is attracting high net worth value people to open bank accounts and invest in Singapore every day. As a financial hub, they are allowing foreigners and foreign entities to open bank accounts.

You may ask, why should we open a bank account in Singapore, below few reasons why should every business person have a bank account in Singapore.

  1. Better business environment Singapore being one of the top financial hubs in the world, they have established a very good business environment. More and more foreign company is now moving their HQ to Singapore due to its good business environment and supportive tax structure for companies. Money kept in Singapore will be safe and appreciated as the economic growth.

  1. Plenty of investment opportunities Being a financial hub, Singapore has the most complete banking and investment system for investors, you can either keep the cash or make full use of the money kept in the account by investment to combat inflation as well as wealth growth, there are plenty of products with very low fees charged.

  1. Less restriction of incoming and outgoing funds As a financial hub, there are a lot of funds flowing in and out every day, unlike Malaysia, Singapore has a lesser restriction on the funds flowing in and out. Therefore, is easier to do business, either to make suppliers or receive funds from customers, lesser hesitation.

What Types of Accounts can Foreigners Open?

  1. Personal Account We work with the top banks in Singapore to open bank accounts for foreigners with high net worth value person. International banks are having more professional fund managers and advisors with better exploration in investment to maximise the potential of funds of the clients.

  2. Corporate Bank Account A lot of companies, especially offshore company is having difficulties opening a bank account, or only manage to open a bank account in an offshore bank which is less secure. Singapore's local bank is allowed foreign incorporated, including offshore companies to open bank accounts, as long as they can provide business proof documents.

  1. Family Office There is a lot of multi-millionaire who are exploring the country that treats them the best, including low personal and company income tax, has an excellent education system for their children, and is a safe country to stay in. Singapore fulfills all their needs. We can even open a family office for them to be able to stay in Singapore and live in Singapore.

Who we are?

EWO Consulting is a consulting company, that mainly focuses on offshore company incorporation as well as bank account opening. We have incorporated more than 100 offshore companies in Seychelles, Samoa, BVI, Cayman Islands, Labuan, Belize, Hong Kong, Singapore and etc. Besides, we also established a very good with banks in both Singapore and Hong Kong, we know how we can assist the client to get their bank account opened.

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