Singapore

A video conference meeting between the bank officer and the client via Skype, WeChat or WhatsApp is a must. The bank officer will witness the signature of the director(s) and authorized signatory(ies) on the account opening forms and other due diligence documents.

U.S.

According to local banks’ policy, a video conference meeting may not be required. Client will receive email sent from the bank and needs to sign related documents electronically. However, for some bank with restricted regulation, a video or phone interview of the authorized person (s) is required.

Singapore

Singapore local bank can help you open multi-currency premium corporate account. The currency types include SGD, USD, EUR, GBP, AUD, JPY, CNH, HKD, NOK, CAD, CHF, NZD and SEK.

U.S.

Currently, U.S. local bank only can open USD accounts for remote account opening services.

Singapore

Clients are required to provide valid company registration information (Bizfile) and relevant business contract. Singapore has no special requirements on materials of affiliates, but the due diligence on directors will be more in-depth.

U.S.

In additional to valid business registration documents and basic business information, you are also required to provide Employer Identification Number issued from IRS, signed Operating Agreement or Bylaws, and U.S. identification number (e.g. ITIN or SSN) of the authorized responsible individual (if any). Please note some banks with more restricted regulation may require a U.S.-based residential address and phone number, and a Gmail or Yahoo email address. 

Singapore

Although the due diligence of bank of Singapore's account opening is very strict, it can be completed within one month from the submission to the initial approval to the final successful account opening.

U.S.

Approval will take about 2-5 business days for the bank to proceed the application after receiving all the documents. The bank's account manager will inform the applicant on the result of bank account opening. After approved, the business bank card and token will be mailed to client assigned address, international or domestic address.

Singapore

There are different requirements for minimum deposits at different Banks. Take the three big local Banks, for example, minimum deposits can be as low as S $1,000.

U.S.

There are different requirements for minimum deposits at different Banks, depending on the account opened. You may have to maintain a minimum balance to waive the monthly charge according to bank’s policy.