Goldman Sachs: Overview and Account Opening Guide

Goldman Sachs Group, Inc. is one of the world’s most prestigious investment banks and financial institutions. Founded in 1869 and headquartered in New York, Goldman Sachs has built a reputation as a leader in investment banking, securities trading, and asset management.

As of 2025, Goldman Sachs ranks among the top 15 banks globally by market capitalization, with a strong focus on institutional clients, high-net-worth individuals (HNWIs), and corporate finance. Unlike large retail banks such as JPMorgan or Bank of America, Goldman Sachs specializes in sophisticated financial solutions rather than mass-market consumer banking.

Bank Profile

• Founded: 1869
• Headquarters: New York, United States
• Market Cap (2025): ~USD 295 billion
• Global Presence: 30+ countries, with offices in Singapore, Hong Kong, London, Tokyo, and Frankfurt
• Key Services: Investment banking and corporate advisory Securities trading and risk management Asset management for institutions and individuals Private wealth management for HNWIs Digital retail banking (Marcus by Goldman Sachs, primarily in the U.S.)

Why Choose Goldman Sachs?

• World-renowned brand in investment banking and financial advisory
• Exclusive private banking solutions for ultra-high-net-worth clients
• Expertise in capital markets, mergers & acquisitions, and IPOs
• Global reach with strong hubs in the U.S., Europe, and Asia
• Expanding presence in digital finance through Marcus (U.S. retail banking arm)

Account Types Available

1. Marcus by Goldman Sachs (Retail Banking, U.S. only) Online savings accounts Personal loans and credit products Designed for U.S. retail clients
2. Corporate Accounts Institutional banking services Treasury and risk management accounts Investment banking relationships for corporates
3. Private Wealth Management Tailored for HNWIs (typically USD 10 million+ in investable assets) Services include investment portfolios, trust and estate planning, alternative assets, and family office support

Account Opening Requirements

For Individuals (Retail via Marcus, U.S. only):

• U.S. government-issued ID
• Social Security Number (SSN)
• U.S. residential address

For Non-Residents / International Clients (Private Banking):

• Valid passport
• Proof of overseas residential address
• Tax identification number (for FATCA/CRS compliance)
• Minimum investable assets requirement (USD 10M+)

For Corporate/Institutional Accounts:

• Certificate of Incorporation / Company registration documents
• Tax Identification Number (EIN or equivalent)
• Shareholder and director identification
• Company financial statements

Step-by-Step Account Opening Process

1. Initial Contact Retail customers: Apply online through Marcus by Goldman Sachs (U.S. only). Private and corporate clients: Initiate via Goldman Sachs offices or relationship managers.
2. Document Submission Provide identity, address, and financial documents.
3. Compliance Review Goldman Sachs performs extensive KYC/AML checks. Private banking and institutional onboarding involve deeper due diligence.
4. Approval Timeline Retail Marcus accounts: typically 1–3 business days Corporate accounts: 2–4 weeks Private wealth management: 4–6 weeks depending on complexity
5. Account Activation Clients receive digital/relationship-managed access to accounts and services.

Advantages & Considerations

Advantages

• Prestigious reputation in global finance
• Exclusive access to top-tier investment products and advisory
• Strong international presence with expertise in Asia, Europe, and the U.S.

Considerations

• Limited retail banking options outside the U.S.
• High entry threshold for private banking clients (USD 10M+)
• Primarily focused on institutional and wealthy clients, not everyday retail users

Frequently Asked Questions (FAQ)

Q1: Can a foreigner open a Goldman Sachs retail account?
A1: Retail accounts (Marcus) are restricted to U.S. residents. Foreigners generally cannot open them unless they have U.S. residency.

Q2: How can high-net-worth individuals access Goldman Sachs services?
A2: Through Goldman Sachs Private Wealth Management, available in major hubs such as New York, London, Hong Kong, and Singapore.

Q3: Does Goldman Sachs operate in Singapore?
A3: Yes. Goldman Sachs Singapore primarily provides corporate, investment banking, and private wealth services, not retail banking.

Internal Link

• Link from Global Top 20 Banks by Market Cap 2025 → “Goldman Sachs” anchor text
• Related banks: [Morgan Stanley Guide], [Citigroup Overview], [JPMorgan Chase Account Opening]

Goldman Sachs, account opening, investment banking, private banking, U.S. banks, wealth management

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. Read more articles