Opening a Singapore offshore bank account is a highly advantageous opportunity to invest in a jurisdiction that features a well regulated banking system. The Singapore banking system follows stringent guidelines, as imposed by Singapore’s regulatory authorities.
Open a Singapore Offshore Account
Singapore has a reputation as a reliable, strong and solid jurisdiction for offshore bank account opening. Singapore is one of the leading financial centers of the world and features an extremely advanced banking system, which emphasizes why many people choose this location for the opening of a Singapore offshore account.
Singapore has for many years been a major global trade player and features one of the largest and busiest ports in the world and an economy that depends heavily on international trade. The Singapore economy is very well developed and is considered to be one of the freest, most innovative and competitive economies in the world. Many people choose to bank with Singapore due to its business friendly approach, particularly in relation to international investors.
Singapore has been noted as one of the easiest places in the world to conduct business, thus emphasizing one of the many reasons why people choose to bank or carry out business within this location. Furthermore, Singapore is renowned for its low levels of corruption, which is another attractive feature for offshore investors. Singapore has very stringent regulations in place with regards to money laundering and other illegal financial activity.
There are a number of advantages in place when opening a Singapore offshore account, such as the tax-free banking services available and the favorable interest rates offered. Opening an offshore Singapore bank account will also allow you to have a number of multiple currency accounts, which is a major advantage if you travel to different locations frequently or have businesses worldwide. Singapore’s stable and reliable banking environment also offers investors the opportunity to bank with complete confidence. Offshore Singapore bank accounts are well known for providing high levels of banking privacy and security, and are therefore held in high regard internationally.
Due to the Singapore’s solid banking reputation, there are over 110 registered and licensed Singapore banks. Offshore bankers can open a personal, corporate or investment bank account, depending on the banking services they wish to obtain from Singapore.
To learn how Starting Business can help you to set up a Singapore offshore account, view our Singapore Offshore Bank Account page.