- Grow Your Business Faster - For Less - With A Better Microsoft 365 Deal (Up to 15% discount)
- Lasting Power of Attorney in Singapore - A Complete Guide
- ***LOWEST RESIDENTIAL LOAN RATES*** DBS 2YR 3M SORA Year 1:0.93%, Year 2:0.93%, Year 3:1.13%, Year 4:1.13%
- ***LOWEST COMMERCIAL LOAN RATES*** SCB 1YR FIXED BANCA Year 1:1.08%, Year 2:1.39%, Year 3:1.82%, Year 4:1.82%
- The History of Banking in Singapore
- Complete Guide To Buying Commercial Property In Singapore
- Property Tax In Singapore – What Are The Rates And How Are They Calculated?
- What You Need To Know About The Flexible Wage System
- Local Enterprise and Association Development (LEAD) Programme: Support for Companies Reaching Out To Global Markets
- SMEs Go Digital Programme: Real Estate Agency Industry Gets New Pre-Approved Digital Solutions Eligible For PSG Funding
Business Bank Account (SGD)
What are the required documents for Corporate Account Opening?
Generally speaking, there are a few required documents.
A Completed Corporate Account Opening Form with the bank in question, signed by the signatories as listed in the board resolution.
A Board of Directors Resolution that would sanction and authorize the opening of the account by the authorized signatories.
A Certified True Copy of Resolution that would sanction and authorize the opening of the account by the authorized signatories. Most banks will have their own format.
Certified True Copy of Certificate of Incorporation, certified by company’s secretary or director(s).
Certified True Copy of Company’s Business Profile from Company Registrar by company’s secretary or director(s).
Certified True Copy of Company’s Memorandum and Articles of Association (MAA) by company’s secretary or director(s).
Certified True Copies of Passport (or Singapore IC) and Residential Address Proof of the Directors, Signatories, and Ultimate Beneficiary Owners.
What are the main benefits of opening a Business Current Account?
A Business bank account would allow your company to better organize your finances so that you can pay and receive funds in a joint account that is linked to the company, instead of the individual.
With a business bank account, you can delegate the payment of transactions to your secretary, and allow them to complete payments authorized by you. Alternatively you can give an agent authority over the account and allow them to complete transactions themselves.
Are there any additional fees I need to be aware of?
Please do refer to the individual bank’s terms and conditions for more information, it should also be stated in our comparison.
How long is the whole application process?
While the process for applying for a business bank account is usually quite easy, you may face additional documentation and process requirements. For residents of the following country, you may face longer waiting times.
Democratic People’s Republic of Korea (DPRK)
Is the Aspire Business Account Secured?
Funds inside the Aspire accounts are kept strictly in a seperate trust account with a Tier 1 financial Instutituions. MAS guidelines are complied with fully.
Who can be eligible for the Aspire Account?
Almost all companies that are registered in Singapore with ACRA will be eligible to apply for Aspire accounts. Aspire does not exclude directors from sanctioned countries.
So I heard there's a CASH Incentive signing up with Smart-Towkay?
Be Part Of thousands of SMEs just like yours who entrusted us to grow their business
FINDING THE BEST BUSINESS LOAN IS EASYHere are some benefits of applying for your loan through Smart-Towkay.Com
We’ve aggregated all the latest Business Loan so you can save time comparing them.
Find Business Loan rates and promotions you might have missed.
Apply hassle free online and get the cash you need as soon as possible. It is easy