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    • Services
      • Singapore Company Formation
      • Account Opening Consultancy
      • Accounting and Auditing
      • Other Services
        • Virtual Office
        • Nominee Director/Shareholder Services
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        • Singapore Trademark Registration
    • About Us
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    • FAQs
    • Contact Us
    • English
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  • [email protected]
  • +65 6591 9991
  • 1 Raffles Place, #40-02, One Raffles Place, Office Tower 1, Singapore 048616
  • Mon – Fri/ 9AM - 6PM (GMT+8)
Singapore Company Formation - One IBC Group
Singapore Company Formation - One IBC Group
  • Services
    • Singapore Company Formation
    • Account Opening Consultancy
    • Accounting and Auditing
    • Other Services
      • Virtual Office
      • Nominee Director/Shareholder Services
      • Merchant Account Online
      • Singapore Trademark Registration
  • About Us
  • Featured Insight
    • Articles
    • News
  • FAQs
  • Contact Us
  • English
    • Chinese
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Why should businesses establish a Singapore bank account?

Singapore Company Formation - One IBC GroupFAQsAccount Opening ConsultancyWhy should businesses establish a Singapore bank account?

A Singapore bank account provides greater freedom, security, and profitability; therefore, to expand your business, you should open a Singapore bank account.

Numerous nations ensure bank secrecy. In some jurisdictions, it is a crime for a bank employee to divulge any information regarding a bank account or its proprietor. In Singapore, currency control is markedly less stringent than in high-tax nations.

In addition, Singapore bank accounts can evade the high service fees that have become standard in domestic banking. Typically, Singaporean institutions offer very attractive interest rates. Since all purchases are deducted from the Singapore bank account, Singapore credit and debit cards offer a certain level of discretion.

Moreover, certain Singapore institutions are financially stronger and better managed than even the largest domestic banks. This is because Singapore banks are required to maintain a greater proportion of liquid assets to accumulated debts.

For the aforementioned reasons, it may make sense to operate a bank account in Singapore, where it is protected from domestic tax authorities, creditors, competitors, ex-spouses, and others who may seek to seize your wealth.

Singapore Company Formation - One IBC Group

Singapore Company Formation team is a world leading corporate services provider, supporting entrepreneurs, investors, and business owners worldwide with company registration, banking, tax, and more corporate services.

With extensive expertise and global partnerships, we committed to providing only appropriate and most efficient service to all of our clients. We take pride in our work and strive to exceed our clients’ expectations at every opportunity.

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