Asiabizservices Provides Corporate Bank Account Opening For Local or Offshore Companies by ruthbaker


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									Asiabizservice s Provide s Corporate Bank Account Opening For Local or Offshore Companie s

Asiabizservices provides corporate solutions to investors wishing for expansion of business or exploration
of business opportunity. Among others, it specializes in registration of companies with attractive options
such as an application of a labor pass like an Employment or Entrepreneur and nominee director
services. It also offers accounting and secretarial services.

Should investors employ the professional services o f Asiabizservices, they would save time as the
company composes of professionals trained for spearheading procedures without affecting accuracy.
After incorporation, investors must open corporate bank accounts in Singapore.

“Asiabiz shall arrange a schedule for the bank officer to meet the investors personally at our office so
investors can sign the necessary documents without going to the bank,” says Asiabiz services’ business
consultant, Chi Han, adding that in Singapore, most banks require the physical pres ence of aut horized
signatories and company officers before they can open a corporate bank account.

“Nevertheless, there are a few banks that honor exceptions, provided that the essential signatures are
witnessed by a notary public overseas,” Chi Han continues.

Singapore is a major investment hub. Naturally, it is a home to major banks in the world. It also has its
own commercial banks that compete globally. Each of these banks has different set of standards and
requirements in opening banks accounts, and facilities to enable various banking processes.

In opening a company bank account, the amount varies according to the bank.

“In OCB C, its first 6 months requirement is S$500 and it becomes S$10,000 in succeeding months,” Chi
Han continues further.

Clients wishing to open a corporate bank account with Standard Chartered, UOB, and DBS should
prepare S$10,000.

International banks such as HSBC and Citibank have higher minimum balance requirements which range
between S$25,000 and S$50,000. In case a company does not meet the minimum balance, the bank
shall charge them with a fine between S$15 and S$50.

To open a business bank account, certain doc uments are nec essary. These include the source of funds,
anticipated annual turnover, size of transaction, bank reference letter, proof of beneficial ownership,
business activities and customers, and detailed background of beneficiaries.

“There are banks that request companies to present their Certificate of Incumbency and Certificat e of
Good Standing for their offs hore company,” Chi Han says in conclusion.

The approval for offshore accounts varies. However, due to the sound relationship maintained between
Asiabiz and most international and local banks in Singapore, the process can be set up easily and more

About the Publisher:
Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed
and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign
entrepreneurs form a Singapore company. Among its specializations are Singapore company setup,
corporate services, accounting services, nominee services, company registration, whether as a sole
proprietorship, private limited, limited liability partnership; offshore company formation, incorporation
of foreign companies either as a branch or subsidiary office, accounting services including payroll
preparation and more.
Asiabizservices is the leading provider of Singapore Company Incorporation services and has
successfully helped thousands of both local and foreign entrepreneurs Incorporate a Singapore
Company. It also provides chartered secretarial services.

Our phones are ans wered during business hours by specialists and not by an answering machine.
We appreciate the value of your time and understand that a person cannot be replaced by
technology. This is especially true when it comes to making important business decisions.

For more information visit:
AsiaBizServices PTE LTD
address: 120 Telok Ayer Street Singapore 068589
phone: +6563034614

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