Cost: from 12600 EUR


Open a Company in Singapore + an Account in the Caribbean Bank

Company registration in Singapore is described as quick and easy, which attracts investors from all over the world. However, companies have to meet strict eligibility criteria, follow the established incorporation procedure and get a certificate of incorporation from the business registrar, and each step has its challenges. But this is not the only reason why we offer our clients to use the guidance of our experts.

In Singapore, you can only set up a company if its director is a local resident, and you cannot dismiss him until you find another resident director. This is the reason why it is impossible to register a business in Singapore without a local agent, and Offshore Pro Group specialists can help you with this.

Open a company in Singapore

You will also need to open a corporate account for your company, and banks in Singapore may not be the best choice for that. They strictly follow the Foreign Account Tax Compliance Act (FATCA) and CRS, so you should expect stringent compliance checks and KYC requirements. A simpler option (and the one with an ultimately better balance of characteristics) would be to open an account in a Caribbean bank.

Taking into account all the above facts, we are glad to offer our clients a comprehensive 2-in-1 service that includes company establishment in Singapore and the opening of a corporate account for it with a bank in one of the Caribbean jurisdictions. And if you are interested in real business, free from “gray” schemes and methods of aggressive tax optimization, this option should be considered first of all.

Registration of a Company in Singapore and Opening a Corporate Account with a Caribbean Bank: Main Advantages

We have talked more than once about the opportunities that Singapore gives to business (if you register a company here), and the same can be said about opening an account with a suitable Caribbean bank. Such a “cocktail” is a de facto standard for offshore business, and it is the one we recommend to our customers in the first place.

Advantages of incorporating a company in Singapore:

  • You can issue shares without specifying their par value
  • You can register a company in Singapore with 100% foreign capital
  • The minimum amount of the authorized capital starts from SGD 1
  • Short timeframes for company incorporation in Singapore
  • Extremely high level of prestige and respectability
  • The minimum conditions for the company registration are 1 director and 1 shareholder
  • Significant tax incentives (especially for new companies)
  • You can refuse an audit procedure (this is possible after the company has been registered in Singapore if you meet certain conditions)
  • Zero tax on dividends, income from capital gains and their realization
  • The territorial principle of corporate taxation used in Singapore
  • Singapore has concluded agreements on double taxation avoidance with major trading partners
  • Simplified procedure for obtaining visas (EntrePass, EmploymentPass)
  • There are no currency regulations and no restrictions on profit repatriation

Advantages of opening an account with a bank in the Caribbean region:

  • Proximity to US markets
  • Legal offshore status
  • Loyal financial legislation
  • The widest range of banking services with very low fees
  • Financial and political independence
  • Minimum questions asked when opening a corporate account with a bank for a company incorporated in Singapore

Let’s admit the fact that the conditions for opening a corporate account are getting tougher every year in the wake of the current trends. Therefore, if you are planning to register a company in Singapore and open a corporate account for it with a bank in the Caribbean region, do not delay the final decision. If you are interested in such a service, contact the experts of and discuss all the details with them!


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Check the list of required documents, and get the details of the process, terms, and costs.

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Registration of a Company in Singapore – Basic Facts

It is generally accepted that this procedure is standardized, so there should be no practical difficulties. On the one hand, it is true. But this can only be said of those cases when experienced experts work with the client. If you decide to take care of everything on your own, the situation may look much less optimistic.

Sample action plan:

  • Approval of company name
  • Preparation of a set of constituent documents
  • Signing them
  • Company registration in Singapore

The first point is a pretty straightforward procedure. The main requirement is a unique name that cannot be confused with the registered trademarks. Simply put, Filips, Appl, Martel, or BMV options will not be accepted.

The documents to be prepared for ACRA (Accounting and Corporate Regulatory Authority) to register a company in Singapore:

  • Articles and Memorandum of Association (from January 3, 2016 – the company constitution which may be standard or custom-made)
  • Declaration confirming compliance with the legal requirements
  • Advanced information about the personalities of the business structure: directors and shareholders
  • The address of the real office and its working hours (if the company is registered in Singapore to conduct real business, we recommend considering the option of obtaining substance – the actual business presence in the jurisdiction)
  • Consent from the director and the secretary to hold the position (+ a standard statement to prove the absence of restrictions)

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You are unlikely to be required to provide any additional documents during the company registration process in Singapore, but it cannot be excluded altogether. If this situation arises, contact our expert immediately!

Opening a Corporate Account with a Bank in the Caribbean Region – Basic Facts

The rules for opening an account may differ (this depends on the bank’s policy), but, on the whole, the requirements are more or less typical. If the company is registered in Singapore correctly, the procedure will go seamlessly. The following list of documents is based on the example of the United Bank (Curaçao, a universal option for opening a corporate account). It will be similar but not identical in other jurisdictions in the Caribbean region that we can recommend for this purpose – Saint Lucia, Puerto Rico, and Antigua. Do not hesitate to address our experts to get more information!

Documents for opening a corporate account with a Caribbean bank, Singapore company officials (beneficial owners, directors, signatories, officers, nominees):

  • A standard application
  • International passports (a copy certified by a notary). You may provide a different document with the appropriate legal effect
  • Proof of actual residential address (paid utility bills)
  • CV and letter of recommendation for signatories and the beneficiary

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The documents must not be older than 3 months. This also applies to the documents listed below!

Documents on the company in Singapore:

  • Standard certificates: Certificate of Incorporation, Certificate of Financial Standing (for entities operating for more than 1 year), Share Certificate (if shares are registered)
  • Minutes of General Meeting
  • Articles and Memorandum of Association (Constitution)
  • Certificate of Directors and Shareholders
  • Declaration of Trust (if there is a corporate shareholder, one or more)
  • Resolution made by a meeting of shareholders on director appointment
  • Power of Attorney (if the company has a corporate director)
  • Samples of signatures of all persons who have access to the account
  • Limited Liability Agreement (for an LLC)

If all the documents are in order and the bank has no questions to you, the account opening procedure takes about 7-10 days. Please note that financial institutions usually issue claims on a minimum deposit that should be made immediately.

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Mind that all submitted documents should be translated into English, notarized and apostilled. Failure to do so will make it impossible to open a corporate account for a company in Singapore!

Recommended Banks

The Caribbean is the real Klondike of offshore banking. There are a variety of financial institutions here, both large and relatively small ones That is why the choice of a bank to open a corporate account for a company in Singapore should be approached especially carefully as some banks are not particularly reliable, and there are quite significant restrictions in the work of others (especially if the company is registered in Singapore!).

Options for financial institutions that we can confidently recommend:

  • Opening a corporate account for the Singapore company with SAI bank (Curaçao). The institution provides traditional financial services, and customers can take advantage of advanced online banking opportunities to manage their accounts. There is a wide network of correspondent banks. SAI BANK adheres to strict security standards, so the protection of your funds is guaranteed. The bank issues its own plastic cards.
  • Opening a corporate account for the company in Singapore with Exprinter International Bank N.V. (EIB) (Curaçao). You can open current, multi-currency, and investment accounts. A wide range of investment products is available to clients: fixed-term deposits, shares (as well as liabilities and contractual bonds), mutual and hedge funds, structured debt obligations, etc.
  • Opening a corporate account for the company in Singapore at United Bank Curaçao (Curaçao). The bank is focused on solid clients who appreciate stable and predictable financial partners. In addition to the settlement accounts that are familiar to international business, a financial institution opens savings and multi-currency accounts. You can also choose a private banker to mediate between you and United Bank Curacao.
  • Opening a corporate account for the company in Singapore with BOSLIL Bank Limited (Saint Lucia). The bank’s distinctive feature is the government’s participation in the management, so the level of security here is exceptionally high. The Bank is primarily focused on offshore clients, with confidentiality being its main concern.
  • Opening a corporate account for a Singapore company with Stern International Bank LLC (Puerto Rico). This is probably the best option for customers whose business interests are connected with the US market. The bank is fully integrated into the American financial system but has a fairly large degree of freedom in decision-making. Customers can open accounts in USD, EUR and GBP. There are no restrictions on the number and amount of transactions. You can use almost any channel (Fedwire, SWIFT, SEPA) to transfer funds.

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The bank does not work with digital assets and can turn down an incoming transfer if it comes from a crypto exchange!

  • Opening a corporate account for a Singapore company with Global Bank of Commerce Ltd (Antigua). This is one of the most respected banks – in fact, it stood at the origins of legal services in the offshore market. The service focuses on increasing the customer’s assets. The bank offers to use its own Globex Secure platform for e-commerce purposes.

Company Incorporation in Singapore: Alternatives

The scheme we have introduced to you is a standard in the international offshore business. We recommend it even to those customers who have very high requirements for quality, reliability and deadlines. But if you are interested in the All-Inclusive service, our experts will be happy to offer you a package service system which allows you to get all the necessary services at a significantly lower price.

Basic Package, USD 8,660

  • Company registration in Singapore + all required state fees
  • Legal address
  • Nominee service: secretary + local director
  • Security deposit (the amount is refunded at the end of the term or if you change the intermediary)
  • Foreign officials: director and shareholder
  • Delivery service (if you need to send documents from Singapore)

Business Package, USD 11,680

  • All services of the Basic package
  • A full set of documents required to open a bank account (up to 12 pieces stitched)
  • Opening a corporate account for a company in Singapore in one of the banks in Switzerland

Premium Package, USD 13,760

  • All the features of the Basic and Business packages
  • Nominee service: director + shareholder (a citizen of Panama)
  • Power of attorney, trust declaration (issue, certification)
  • Additional delivery of official documents by courier (from Panama)

The services that require annual renewal after the company registration in Singapore and opening a corporate account with a bank in the Caribbean region – from USD 5,280 (the first 12 months are included in the cost):

  • Legal address
  • Secretarial services
  • The local director
  • A minimum accounting package

Additional services for the Premium package — USD 1,680:

  • Nominee service (a natural person, a citizen of Panama): director and shareholder
  • Power of attorney, trust declaration (issue, certification)

Security deposit

In fact, this is the amount reserved when you open a company using nominee service. Its main task is to cover the costs of company liquidation (and this procedure is very expensive in Singapore) if its owner does not get in touch. Therefore, we have to increase the deposit amount from EUR 2,000 to EUR 4,600 in order to be able to go on with the provision of services in the field of offshore business.

Preferential payment:

  • The first (basic) part of the deposit (EUR 2,080) is paid at company registration (this also applies to package offers).
  • The second (extended) part of the deposit (EUR 2,520) is paid in equal shares during the term of the nominee service.

Here are other popular services in Singapore that we provide with regard to companies registration and opening a corporate account:

Are you interested in registering a company in Singapore and opening a corporate account for it with the Caribbean Bank? 

  • If you clearly understand the goals and are used to choosing your own package of services, the option described in the article will be the most optimal one – especially if we take into account that the Caribbean region is one of the last offshore islands left!
  • Otherwise, it makes sense to look closely at one of the package offers compiled on the basis of the All-Inclusive principle.

But in any case, you can trust the quality of the services offered and their compliance with the norms, rules and traditions of present-day international business. Contact our experts by e-mail and discuss all questions with them!

Can I get citizenship in the Caribbean by opening an account in 2022?

This is an unusual idea, but it is absolutely correct! There are many advantages in possessing a Caribbean passport, and we will indicate only the most significant ones here. This is a legal second citizenship (and consequently a reserve airfield in case of major events), a favorable tax climate, some protection against fiscal prosecution in your jurisdiction, the right to visa-free visits to many countries (including EU states!), the ability to indicate the residence of the Caribbean Islands in documents, excellent living conditions and the absence of requirements for a mandatory stay in the region (only Antigua and Barbuda require 35 days in 5 years).

Is it true that the Caribbean bank account is a risk in 2022?

This is a fiction that hardly bears any connection to reality. It is true that Caribbean banks are not considered to be extremely reliable in the business world, but it is irrational to say that they do not fit any business purposes. If you need 100% protection with a high reputation component, we can offer you another interesting scheme. First, you get citizenship (which is not difficult), and then you open an account in Austria or Switzerland using your passport from Antigua, Saint Lucia, or Dominica. Unlike the traditional method, this one implies a much lower risk of failure.

Is it true that a bank account in Curacao implies a mandatory KYC verification?

That’s true. Despite the offshore status, the verification procedure is mandatory. But that’s by no means the reason to give up the idea of opening an account here, at least because the jurisdiction participates in the CFATF and requires strict compliance with the KYC. Without these factors, we cannot talk about stability at all. You will need the following documents to identify the client: a copy of the relevant pages of the passport (with signature and photo), confirmation of the actual residence address (passport, utility bills), as well as a recommendation of the bank where you have an account or a letter from a lawyer/accountant. It should be noted that it is better to visit the bank in person to reduce the risk of refusal.

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