Yes, it is possible for a non-Singapore resident to open a bank account in Singapore, although the specific requirements and processes may vary among different banks.
Generally, non-residents may need to provide additional documentation to prove their identity and address, such as a valid passport, employment pass, or utility bill. They may also need to meet certain eligibility criteria, such as a minimum account balance or monthly deposit requirement.
It is recommended to contact the specific bank that you are interested in opening an account with to confirm their requirements and procedures for non-residents.
Alternatively, if you are working in Singapore then you will be deemed to be a resident of Singapore and it would be easier for you to open a local bank account. You can do that by obtaining a valid employment pass in Singapore. You can also start a business and then apply to be allowed to live and work in Singapore to run your business. The company can open a local corporate bank account in Singapore and you as the employee/ business owner, can open a local personal bank account. Of course, these are still subject to the bank’s criteria but in our experience, it is much easier to do so this way as the individual has a valid reason to have a bank account in Singapore.
If you require any bank account opening assistance, you may contact us at [email protected]ices.com.
Leave A Comment