Step 3 : Our Scope of Service for Incorporation
Engage us to be the local authorized agent and sign off the Agreement
We will appoint a member of our team as the nominee local agent for your Singapore branch. The service is offered for statutory compliance only. The nominee agent will not be involved in any management, financial, or operational matters of the company. You must appoint one or more individuals (normally the company shareholders) as the company directors who will be responsible for running the company. You can ask our nominee agent to resign at any time by identifying another person who can satisfy the local director’s requirement.
Note: For the provision of our nominee local agent service, we also collect a refundable security deposit. The security deposit will be refunded when you no longer need our nominee agent service.
Our Scope of Services includes:
- Name check and reservation
- Preparation of memorandum & articles of the
- Company and other incorporation documents
- Preparation of registration forms
- Professional & Filing Fees
- E-Certificate of incorporation
- Preparation of compliance corporate kit, including corporate seal, share certificates, register and minutes book
- Minutes of first board meeting
- Resolution to open a bank account
Click here for a sample copy of nominee director agreement for your reference
Direct from Nominee Director to client
Step 4 : Open a Corporate Bank Account
Once your company is incorporated, you must open a corporate bank account with any of the local and international banks in Singapore. Opening a corporate bank account in Singapore is a straightforward if you do it right. The important thing is that you must choose the bank which offers corporate accounts features that can fulfill the banking needs of your company.
If you are looking for a bank that allows you to operate overseas, open a corporate bank account with Aspire Bank will be a good option. Good news is, you can also skip the long list of required documents seen below if you opt for Aspire. With Aspire, you can have fast and user-friendly access to financial services for your business operations anywhere and at any time through your mobile phones. You can also enjoy cashback for your online marketing and “software as a service.”
It is free to open an Aspire Business Account. There are no monthly fees, fall below fees, or FAST transfer fees, and no minimum deposit is required as well. If you are keen, the account can be opened entirely online with Paul Hype Page. Check out more Aspire features on www.aspireapp.com.
Requirements for Opening a Corporate Bank Account
The followings are the required documents to open a corporate account in Singapore banks:
- Completed Corporate Account Opening Forms
- Board of Directors Resolution approving the opening of the account and the signatories to the account
- Certified True Copy of Certificate of Incorporation (must be certified by the company secretary or one of the directors)
- Certified True Copy of Company’s Business Profile from Company Registrar
- Certified True Copy of Company’s Memorandum and Articles of Association (MAA)
- Certified True Copies of Passport (or Singapore IC) and Residential Address Proof of Directors,
- Signatories, and Ultimate Beneficiary Owners.
- If you are in Singapore, just bring the originals and the bank will make a copy.
Singapore banks may ask you to produce additional documents depending on the case. Generally, most of the banks require that the account signatories and majority directors be physically present in Singapore for signatures at the time of opening the company bank account. However, some banks will accept the signing of documents at one of their overseas branches or in front of a Notary Public.