Singapore has emerged as Asia’s premier banking hub. Here’s how to open an offshore account there in 2025.
Singapore offers world-class financial infrastructure, digital banking, and political neutrality—ideal for offshore accounts.
Step-by-step account opening process:
- Choose a bank: DBS, OCBC, UOB, or private banks like Julius Baer
- Prepare documents: Passport, proof of residence, source of funds
- Submit KYC forms: Some banks require in-person visits, others allow remote onboarding
- Initial deposit: Typically starts at $100,000 for private accounts
- Activate services: Multi-currency, online banking, debit cards
Note: Tax transparency laws apply. Be prepared to share your details with tax authorities under CRS.
FAQs:
Q: Can non-residents open accounts in Singapore?
A: Yes, though onboarding is stricter than before.
Q: How long does it take?
A: 2–6 weeks, depending on the bank and documentation.
User Comments:
- “The onboarding was smooth but required detailed paperwork.”
- “The investment advisory services made it worthwhile.”
Editor's Note:
Singapore combines regulation with reputation—ideal for serious offshore banking clients.
Tags: Singapore offshore banking, expat finance, private banking, DBS, cross-border account
(Editors: admin)