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    InternationalWealth.info

    The biggest portal about international asset protection and diversification

    +507 848 3045
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    +372 5 489 53 37
    +381 6911 12327
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    Opening an account for a Singaporean company
    Main page » Services and products
    June 15, 2022

    Cost:

    from 3999 EUR

    Opening an Account for a Singapore Company in the Cook Islands

    Opening a corporate account for a Singapore company with a bank in the Cook Islands is a rare case when the rational estimate and the emotional component perfectly match to make a truly unique blend. We rarely take into account the ‘vibes’ in the world of serious offshore business, but this case is an exception you should not miss.

    The fact is that the Cook Islands is not only a great opportunity to open a corporate account for a Singapore company or start a serious offshore project that has far-reaching consequences but also a paradise with magnificent, stunning and unique nature. It is really nice to do business here, and you can go to the ocean shore in the evening once the opening of a corporate account for a Singapore company is complete. Your senses will give you every chance to understand that the Cook Islands is a real heaven on earth hidden somewhere in the Pacific!

    Opening an account for a Singaporean company

    When You Are Short of Time…

    Is it possible to do two things at once – register a company in Singapore and open a corporate account for it remotely in the Cook Islands? This option is quite possible, although it is not the subject of this article. But we decided to bring it up at once as it is an interesting alternative to traditional services – and we at Offshore Pro Group believe that our clients should have a choice!

    Opening a corporate account with a bank in the Cook Islands for a company incorporated in Singapore – advantages of the service:

    • Significant time savings
    • Lower financial costs
    • The need for the client to participate in the procedure is minimized (unless you want to personally supervise each step)
    • Guaranteed success at one go. Just think of overcoming bureaucratic hurdles twice in two different countries – in the Cook Islands and Singapore (which stand more than 10,000 km apart!), and you will see at once that entrusting this work to professionals is a much better and simpler option.

    Service options:

    • Registration of a company in Singapore and opening a corporate account for it with a bank in the Cook Islands. Both procedures will be carried out by our specialists at the same time, so the time and cost will be minimal.
    • A company in Singapore on a turnkey basis. You get a company with a zero balance, an operational account and all the documents required to conduct business in just a few hours after you contact the specialists of our portal. The cost of the service is minimal (from EUR 16,500). In this case, we open a traditional LLC/Pte-Ltd, which is the most typical and convenient format in the jurisdiction of Singapore.

    As you can easily notice, the second option will require additional financial costs, but the level of comfort that it provides to serious businessmen is much more important. And the scheme with parallel registration of a company in Singapore and opening a corporate account for it with a bank in the Cook Islands will spare you a lot of hassle at a modest cost. If you have any questions, please contact us by email (info@offshore-pro.info).

    Other services in Singapore that we provide:

    • Opening an Account for a Singapore Company with the Bank of Antigua and Barbuda.
    • Opening an Account for a Singapore Company in the Payment System of Lithuania.
    • Set Up a Company in Singapore in 2022 + Open an Account with a Local Bank.
    • Open an Account for a Singapore Company with the Bank of Belize.
    • Incorporate a Company to Launch an ICO in Singapore.

    Possible Limitations

    The bank in the Cook Islands takes a rather tough approach to selecting prospective customers who wish to open a corporate account, which practically means that they reject dubious businesses at once and refuse to serve companies that do business in “unreliable” countries. But this is hardly a disadvantage as it largely ensures the stability of the financial institution and an extremely low level of risk for customers.

    In other words, opening a corporate account with a bank in the Cook Islands is a near-zero risk for a Singapore company, and the financial institution you have selected will not be affected by the fate of Washington Mutual or Lehman Brothers which went bankrupt in 2008.

    Blacklisted countries (whose residents get an unequivocal and unconditional refusal to open a corporate account with a bank in the Cook Islands):

    • Asia: Afghanistan, Iran, Iraq, DPRK, Laos, Myanmar, Pakistan, Sri Lanka, Yemen
    • Europe: Bosnia and Herzegovina, Serbia
    • Africa: CAR, Congo, Côte d’Ivoire, Egypt, Eritrea, Ethiopia, Haiti, Liberia, Libya, Somalia, Sudan, Tunisia, Zimbabwe
    • Central America: Cuba, Trinidad and Tobago
    • Middle East: Lebanon, Syria

    States whose companies are subject to stricter scrutiny if they want to open a corporate bank account in the Cook Islands:

    • Asia, Transcaucasia: Algeria, Armenia, Azerbaijan, Indonesia, Philippines, Thailand
    • Europe: Albania, Belarus, Kosovo, Moldova, Russia, Ukraine
    • Africa: Burundi, Republic of the Congo, Ghana, Guinea, Guinea-Bissau, Kenya, Morocco, Sao Tome and Principe, Sierra Leone, Tanzania
    • Central and South America: Bolivia, Brazil, Ecuador, Guatemala, Nicaragua, Panama, Venezuela
    • Middle East: Gaza Strip, West Bank
    • Oceania: Papua New Guinea, Vanuatu

    Activities that could present an obstacle to opening a corporate account for a company in Singapore with a bank in the Cook Islands:

    • Doubtful monetary services: unregulated, unlicensed, unauthorized institutions, shell banks
    • Anything to do with prostitution and pornography, dating services
    • Prohibited operations with drugs: drugs, including recreational drugs, online pharmacies, precursors
    • Trade in certain categories of goods: rough diamonds, tobacco and tobacco products (including electronic cigarettes), counterfeits
    • Gambling business: games, lotteries, casinos, betting firms, etc.
    • Everything related to weapons, ammunition and military affairs (including private military companies), security companies
    • Any business that uses wildlife resources without proper permission
    • Some business companies: legal entities that issue bearer shares or the rights to their ownership
    • Telemarketing

    Activities that may entail additional verification when you open a corporate account for a company in Singapore with a bank in the Cook Islands:

    • Consulting services
    • Cash-oriented business: shops, HoReCo sector enterprises (Hotel, Restaurant, Cafe/Catering), taxi services, etc.
    • Some types of retail: precious metals dealers, pharmacies, used cars and spare parts for them, computers, any technical means and equipment
    • Non-state debt collection services
    • Exchanges of digital and foreign currencies, trading companies
    • Online gaming business (it is almost impossible to prove that this activity is not related to gambling)
    • Labor brokers
    • Companies operating under the MLM (multilevel marketing) scheme
    • Services related to the financing of any litigation

    Let us emphasize that such restrictions may seem excessive at first glance, but this is an illusion. In fact, they serve to reduce the risk of problems for the company’s legitimate business in Singapore – which, in turn, gives you guarantees when you open a corporate account with the Cook Islands Bank.

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    Terms of Opening an Account with a Bank in the Cook Islands for a Company Established in Singapore

    The bank offers very favorable terms of service powered by an extremely high level of reliability. In fact, the Cook Islands rejects the misconception that offshore banks are inappropriate for companies set up in solid jurisdictions (Singapore, Hong Kong). If you open a corporate account in the Cook Islands, one of the few significant differences from a bank somewhere in Switzerland or Liechtenstein is the reduced requirements for potential customers. Meanwhile, you retain all the advantages associated with a respected financial institution that values its reputation.

    Basic conditions for opening a corporate account for a company in Singapore:

    • Recommended minimum balance: USD 20,000. If the account balance is lower, it will be serviced at increased rates
    • Cost of initial registration in the system: USD 500
    • Monthly service: USD 50
    • Currencies used to open an account for a Singapore company: USD, EUR, AUD, NZD, CAD, CHF, JPY, HKD, NOK. We would like to especially note the official support of the Singapore dollar (SGD)
    • Transaction cost: depends on the amount and currency

    A package of documents required to open a corporate account in Cook Islands for a Singapore company (to be provided by officials):

    • a foreign passport
    • proof of residence address. You can use a paid utility bill or a corresponding bank statement
    • a short bio

    A package of documents required to open a corporate account in the Cook Islands for a Singapore company (to be provided by the company):

    • A set of standard certificates: Certificate of Incorporation, Articles of Association, Operating Agreement, Memorandum of Association, Certificate of Good Standing
    • Resolution to open an account

    Other points for consideration when opening a corporate account for a Singapore company:

    • You are highly likely to be asked to provide documents that describe and confirm the sphere of your company’s business interests in Singapore: its turnover, regions of work, the system of mutual settlements, etc.
    • The approximate registration period is about 14 days. But if a bank in the Cook Islands requests additional documents (which is unlikely for a company in Singapore), this term may be extended. Please also note that the financial institution will require original personal and corporate documents for the Singapore company (to be sent by mail).

    Advantages for Customers

    In addition to favorable terms of service and an increased level of reliability, the bank in the Cook Islands provides its clients with other interesting opportunities. The manager of the financial institution and specialists of our portal will tell you more about them with the focus on your needs. Please note that the company in Singapore has an extremely high status by default, so the obvious advantages of opening a corporate account for it in the Cook Islands bank will be even more pronounced.

    The main markets and trading venues that companies in Singapore access after opening a corporate account with a bank in the Cook Islands are:

    • AMEX-NYSE MKT
    • AMS
    • ASX
    • BRU
    • CSE
    • FFT, FSE
    • HKEX
    • HSE-NASDAQ OMX Helsinki
    • ISE
    • LISB
    • LSE
    • Mil-Borsa Italiana
    • NSC-NASDAQ
    • NYSE
    • SSE
    • SWX

    Precious metals account at a bank in the Cook Islands for a Singapore company:

    • Gold, platinum, silver (bars and coins)
    • Secure storage in New Zealand
    • You can visit the storage facility in person or transport metals to any other place
    • All the possibilities of online banking management

    Investment account with a bank in the Cook Islands for a Singapore company:

    • Absence of any significant restrictions
    • Personal manager
    • There is no need to provide additional documents

    Other services in the Cook Islands that we provide:

    • Register a Business Company in Nevis and Open an Account in the Capital Security Bank, Cook Islands.
    • Open a Private Bank Account in the Cook Islands Remotely.
    • Open a Corporate Bank Account in the Cook Islands Remotely.

    We guarantee 100% success in opening a corporate account for a company registered in Singapore with a bank in the Cook Islands. The specialists of our portal are ready to answer any questions and develop an individual plan for customers with non-standard requirements. We wish you good luck in all your business endeavors!

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