How to open a bank account in Bank of Singapore LTD

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

February, 2013

Last contact

April, 2024

Last update

October, 2023

the bank opens savings (deposit) accounts;
minimum account balance – from USD 3 000 000, not necessarily the entire amount can be expressed in money, it is possible to deposit other assets (for example, securities);
accounts are opened for (personal investment companies) registered in any jurisdiction, incl. to offshore companies, as well as trusts and foundations;
the term for opening an account – case by case (check with the consultant)

GSL rating

Beginning of cooperation

February, 2013

Last contact

April, 2024

Last update

October, 2023

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

1 291

Global rating

4

Countrywide rating

2

Countrywide rating of the head bank

113

Global rating of the head bank

Year of foundation

2010

History

On 29 January 2010, ING Asia Private Bank (IAPB) was purchased by OCBC Bank, one of the leading Asian banks, and was named the Bank of Singapore.

It is a wholly-owned subsidiary of OCBC Bank. It has branches in Hong Kong, Dubai (UAE), and in the Philippines

Personnel

The bank has over 850 staff, including English-speaking officers

Bank’s shareholders

OCBC Bank - 100%. One of the country’s leading banks

Confidentiality

Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

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Minimum requirements

3 000 000

Minimum balance, €

5

Transactions permitted per month

3 000 000

Initial deposit of funds, €

6

Deadline for the initial deposit, month

Minimum balance, €

The minimum balance requirement is USD 3 000 000, ideally aiming for USD 5 000 000. Not necessarily the entire amount can be expressed in money, it is possible to deposit other assets (for example, securities)

Transactions permitted per month

The allowed number of transactions on a corporate account - 5 per month

Initial deposit of funds, €

The bank expects an initial payment of USD 3 000 000

Deadline for the initial deposit, month

The initial deposit must be made within 6 days of opening

How fast payments are executed

The value date is same day, +4 hours to Moscow time

Tariffs and services

30

Outcoming transfer, €

0

Incoming transfer, €

0

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Bank commission for transfer is USD 30

Incoming transfer, €

There is no fee on incoming transfers

Account maintenance, €/year

The bank does not charge any commission for servicing the account. For amounts less than USD 3 000 000 service - USD 2 500 per year. Closing an account - USD 250

Distant access to the account

It is possible to manage the account via the Internet, but only a passive system: the account can be monitored, but the account cannot be managed. Fax or scanned payment order is used for transfer purposes

Financial products

The entire range of banking products

Credit/debit cards

The bank has no credit cards

Account opening procedure

Days to open for incoming transfers

case by case

Days to open for outcoming transfers

case by case

References

Not necessary

Purpose of the account

Savings

Visit to the bank

No visit to the bank is required

Required

A set of corporate documents, a copy of passport. No reference letters are needed

Types of accounts

Savings

Opening procedure and Due Diligence

It is possible to open an account without visiting the country where the bank is located

Chances to open an account

Predictable

Business description

Requirements for the business description are standard: the account of how the business was established and where it stands now, origin of funds, details of biography and contact details of the beneficial owner of the account

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