Singapore Company with at Distance Bank Account
Introduction: Prepare your business by leveraging the unique opportunity to open Singapore Company with at Distance Bank Account, all without needing to visit in person. This streamlined process is ideal for forward-thinking entrepreneurs. Do not hesitate to contact us if you have any questions about this matter at connect@swissfintechpro.com
Remote Account Opening Process:
Adapting to New Norms: Traditionally, opening a bank account in Singapore required a personal visit. However, with the COVID-19 situation and ensuing travel restrictions, we’ve adapted. Now, we facilitate remote account openings with major banks like DBS, UOB, OCBC, and Citibank.
Videoconference Interviews: The usual in-person interviews are now efficiently replaced by videoconferences. This shift ensures continuity and accessibility in the account opening process.
Document Requirements:
- Passport Copy: Needed for all beneficial owners, shareholders, and directors.
- Proof of Address: A copy suffices, with no need for certification.
- Incorporation Form Completion: Details the company name, capital structure, ownership, and business activities.
Timeline for Completion: Expect the process to take about 4 to 5 weeks from the time we receive your payment and documents.
Total Fee Structure:
- Total Fees: $11,900 USD.
- Excludes: $1,500 USD refundable deposit for Nominee Director services.
- Timeline: Approximately 4 weeks upon receipt of payment and documents.
Service Breakdown:
Incorporation Services – $2,450 (One-off):
- Constitution drafting.
- Nominee Director Service Agreement.
- Director’s Acceptance Letter preparation.
- Company registration with ACRA.
- ACRA BizFile provision.
- First Board Resolution drafting.
- Share Certificate(s) provision.
- Nominee Directors Register preparation.
- Controllers Register preparation.
- Certified constitutional documents.
Nominee Director Services – $4,000 p.a.:
- Appointing a Singaporean resident director.
Corporate Secretary – $1,850 p.a.:
- Annual meeting notices and minutes.
- Maintaining statutory records.
- Annual return filing.
- Resolutions for various corporate changes.
Registered Office Services – $1,400 p.a.:
- Providing compliant office address.
- Business address provision.
- Mail-scanning services.
Bank Account Opening Services – $2,300 (One-off):
- Assisting with bank’s KYC and forms.
- Bank account opening management.
- Arranging meeting with bank’s relationship manager.
Account Opening Restrictions:
- Limited Eligibility: Russia and Belarus residents – Citibank Singapore or Standard Chartered Malaysia.
- Not Eligible: Residents of Syria, North Korea, Sudan, etc.
Renewal Fees (After 1 Year): Around $6,500 USD.
Annual Tax Return:
- Tax Rate: 17% on income accrued/received in Singapore.
- Partial Exemption Incentives:
- 4.25% tax on first SGD 10,000.
- 8.5% tax on next SGD 190,000.
- Annual Tax Services – $1,500 p.a.:
- ECI return and tax return preparation and filing.
Conclusion:
Opening a Singapore company and bank account remotely offers significant benefits, especially in today’s uncertain times. It’s not only convenient, bypassing the need for travel, but also efficient, saving you time and resources. This opportunity ensures your business is set up and ready to thrive as soon as the crisis subsides. To get started, simply contact us at connect@swissfintechpro.com.
Do not hesitate to contact us if you have any questions about this matter at connect@swissfintechpro.com
