Starting a company in Singapore? A business bank account is essential. Here’s how to open one the right way.
Opening a business bank account requires:
- ACRA registration certificate
- Company Constitution
- Proof of address
- Identification of directors and shareholders Top banks like DBS, OCBC, and UOB offer SME-focused packages with digital onboarding, often within 3–5 working days. Digital banks such as Aspire and Airwallex are also popular among startups for quick approval and multi-currency wallets. Ensure your business activities are well documented and not in restricted categories like crypto, gambling, or forex advisory without license.
About the Author
Helen Lili – Editor, Research Lead
Helen leads tariff analysis and product change tracking. She maintains the normalized dataset that powers our comparison tables and ensures each claim links back to a dated primary source.
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Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.