Due to the high standard of Singapore’s banking system, it is not uncommon for one company to be rejected to open a corporate bank account.
In order to increase the chance to open a bank account in Singapore, your company should:
- Not have members whose nationalities fall into the global blacklists (FATF list for example)
- Not engage in business lines that are prohibited in Singapore;
- Be able to provide clear and well-prepared business trading proof;
- Incorporate and run its business in Singapore with some Singapore business partners
Learn more: https://bbcincorp.sg/business-guide/secure-your-chance-to-open-a-corporate-bank-account-in-singapore