Singapore’s reputation as a global business hub is bolstered even further by its pro-business climate and consistent top rankings in ease of doing business. The nation’s advantageous position in Southeast Asia turns it into a prime gateway for companies that aim to access the expansive Asian marketplace. With state-of-the-art infrastructure, cutting-edge telecommunications, and a comprehensive transportation network, Singapore is your guarantee of seamless business operations and global connectivity.
The nation is distinguished by its highly skilled workforce, which is a result of a strong education system and a focus on continuous professional growth. The government’s dedication to nurturing a competitive economy is reflected in its advantageous tax policies, including low corporate taxes and the absence of capital gains tax. Both these factors explain why it is a magnet for investors and entrepreneurs. The country’s steady politics and strong economy make it a safe place for businesses to grow. Singapore is universally acknowledged as one of the best places in the world for doing business.
Do you know that you can boost your business even further by opening a corporate account with Singapore’s payment system? Setting up such an account is a breeze, and you will enjoy flexible multi-currency support, complemented by a unique IBAN tailored to your needs. This is an instrument that is perfectly suited for international businesses, private banks, and family offices, and it facilitates both local and international payments. Singapore’s payment system offers a seamless payment experience, with sophisticated services that cater to the needs of its multiple corporate customers, allowing for efficient and hassle-free financial transactions.
Efficient and cost-effective payment solutions for global businesses
With a dependable payment system in Singapore, you will successfully simplify your company’s financial transactions. Our licensed payment service provider is regulated in Singapore, Hong Kong, and the UK, offering a broad spectrum of financial services globally.
Would you like to manage your funds with ease from any location? Opening a multi-currency corporate account remotely is a logical first step to achieve the above goal. Each account is assigned a unique IBAN that is a distinct identifier for your corporate finances.
Our business offerings are designed to maximize efficiency and savings:
- Quick Transfers: Move money swiftly with SEPA and SWIFT.
- Cost-Effective FOREX: Engage in FOREX and cross-border transfers with minimal fees for cost-effective international transactions.
- Currency Variety: Select from a wide range of 38 currencies and 300 currency pairs to make sure you have the necessary options for your business dealings.
- FOREX Products: Use a variety of FOREX products to manage currency risks effectively, including Same Day, SPOT, Low Deposit Forward Trades, Rate Orders, and Stop Loss.
- Competitive Pricing: Benefit from prices reduced to institutional trader levels for all clients, ensuring competitive rates.
- Rapid Payments: Enjoy fast same-day transfers or T+1 to expedite sending and receiving payments.
- Global Transactions: Conduct local and international money transfers with ease to facilitate cross-border business activities.
Singapore’s payment system makes handling money and transactions easy, which gives you more time to expand your business.
Global reach: premium payment services across all regions
Our payment service provider delivers premium payment services to a wide array of clientele:
- domestic companies active in a single market
- international companies with operations spanning multiple countries
- financial institutions and private banks in search of reliable and proficient payment solutions
- family offices in need of tailored payment services
- payment service providers aiming to bolster their payment offers
- high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) in need of secure and accessible payment methods.
It is eager to work with clients across different world regions:
- Traditional offshore jurisdictions like Cayman Islands, Cook Islands, and Saint Martin.
- Favorable midshore regions, with Hong Kong, Singapore, Andorra, Gibraltar, and Malta among them, that boast excellent company registration opportunities.
We also cater to a global clientele from Alderney to Vietnam, covering major financial hubs and emerging markets in between, such as Australia, Canada, China, France, Germany, India, Italy, Japan, Luxembourg, Malaysia, Netherlands, New Zealand, Norway, Spain, Sweden, Switzerland, United Kingdom, and the United States, among others.
Partner with Singapore’s payment system: easy remote onboarding
Singapore’s payment system is open to forming partnerships with committed clients and offers remote onboarding services for businesses. The essential step involves preparing and submitting the necessary documents to establish an account. This is crucial for a smooth setup process. Besides, never fail to promptly respond to any inquiries you will receive during the above process.
These are the documents required documents for setting up a corporate account with Singapore’s payment system:
- Company Articles of Association and Memorandum of Association
- Certificate of Incorporation
- Certificate of Good Standing (for companies registered for more than a year)
- detailed business structure description
- identification documents for company owners, directors, and beneficiaries, including passports and proof of address.
For compliance purposes, all documents must be translated into English and duly certified.
Upon submission of your application, the payment service provider will conduct KYC and AML checks. Please note that additional documents may be requested if necessary.
The review process is generally over in 2 to 3 working days after all required documents are received. There are no additional fees for account opening with the payment system in Singapore.
Your step-by-step guide to opening a corporate account in Singapore
Opening a corporate account in Singapore’s payment system involves these easy steps:
- Contact International Wealth specialists for professional guidance.
- Acquire the service for expert assistance in opening a corporate account with Singapore’s payment system.
- Gather the necessary documents and submit them to us.
- The payment system will perform KYC and AML checks to determine whether you are eligible for cooperation.
- Upon a favorable decision, start using your account for business activities.
Maximize your business potential with expert consultations and guidance
Need a tailored consultation? Reach out to International Wealth! Our specialists will address your inquiries and recommend the jurisdictions most suitable for company registration so that you will be able to fully leverage Singapore’s payment system and the opportunities it offers in 2024.
