Singapore is one of the largest financial centers and a top offshore banking destination due to its political and financial stability, its top-notch corporate banking facilities and its broad-range of wealth management services, investment funds, and insurance products.

In addition, Singapore is one of the most reputed international financial centers whose banks consistently onboard companies incorporated in tax-neutral jurisdictions.

However, banks will want to see a solid and legit business backing the company. Offshore companies will need to provide enough supporting business documentation such as business plans, invoices, contracts, letters of intent, etc. to satisfy the bank’s compliance requirements.

Singapore banks are ideal for businesses that require strong transactional banking and cash management services. Companies banking in Singapore have access to some of the quickest and most affordable money transfer services.

Import/Export companies will have access to top trade finance services such as Letter of Credit and Bank guarantees.

Singaporean banks are considerably risk-averse and are not open for companies engaging in high-risk business activities.

For Singaporean e-commerce businesses, a broad range of merchant accounts and credit card processing aggregators are available.

An oasis of financial stability together with the most technologically advanced private banking facilities, excellent customer service and a capital gains tax-free environment makes Singapore the top Asia-Pacific destination for international wealth management services.