Remote bank account opening in Asia

[GCE]

Hello,
can you recommend banks in Hong Kong/Singapore/other Asian jurisdiction, which still accept remote corporate account opening?
Any positive experience would be appreciated.

 

[mnschwarz]

Hong Kong and Singapore banks will require you to make a visit. I actually don't know of any asian banks that won't expect a visit. I have an account in Singapore. The bank is pretty good but the minimum balance is high.

 

[negon]

What's the minimum balance you need to maintain with this bank? and did you visit them?

 

[mnschwarz]

What's the minimum balance you need to maintain with this bank? and did you visit them?

Minimum balance is $30,000 per account / currency. I have a couple currencies I work with so the minimum balances really add up. That $30,000 was also a special (I think is still going) but they often had it set at $50,000 prior.

 

[negon]

Thanks, lots of money to be maintained in the bank! Did they require you to come visit them?

 

[syn]

Hello,
can you recommend banks in Hong Kong/Singapore/other Asian jurisdiction, which still accept remote corporate account opening?
Any positive experience would be appreciated.

have you found a bank that allow you to do that?

 

[mnschwarz]

Thanks, lots of money to be maintained in the bank! Did they require you to come visit them?

I did have to visit also yes. For me it was fine as I was going through anyway though. I honestly don't see the reason for it either. I did nothing except sat there while my registered agent handed over all the paperwork etc.

 

[JohnSeed]

I did have to visit also yes. For me it was fine as I was going through anyway though. I honestly don't see the reason for it either. I did nothing except sat there while my registered agent handed over all the paperwork etc.

They wanted to see you in person just to check if you are who you said you are, stupid requirement from the bank it seems to me.

 

[syn]

They wanted to see you in person just to check if you are who you said you are, stupid requirement from the bank it seems to me.

Why you think it is stupid?

 

[NickNack]

Some banks in singapore will open it over video chat, but make sure you are a high roller ready to pay minimum deposits and accout opening fees.

 

[happyjohn]

Some banks in singapore will open it over video chat, but make sure you are a high roller ready to pay minimum deposits and accout opening fees.

Yeah it's quite expensive to open an account in Singapore I heard! What min deposit are we talking and costs to open the account, roughly?

 

[NickNack]

depends on the bank. DBS I think is 50-100k, Standard Chartered is 100k, and RHB is like 200k (though maybe they have reduced lately). This is just account balances and minimum initial deposits.

introduction fees can be anywhere from 1800 USD to 6k USD depending on the introducer

 

[adoffshore]

depends on the bank. DBS I think is 50-100k, Standard Chartered is 100k, and RHB is like 200k (though maybe they have reduced lately). This is just account balances and minimum initial deposits.

introduction fees can be anywhere from 1800 USD to 6k USD depending on the introducer

WoW it's only for very wealthy people

 

[NickNack]

Most offshore banking is for wealthy people. For everyone else, there is the US.

 

[negon]

Well, Cyprus, Latvia, CIM Bank, EuroPacific bank and a few more are all considered offshore and don't require lot's of money nor such high introducer fee

 

[NickNack]

CIM and Europacific ask too many questions, and it can be difficult to open the account. Cyprus I don't have personal experience there but I hear Piraeus is a solid bank. Would love to try it out or go through the process at one point.

 

[negon]

And the banks you work with don't ask many questions? I'm curious to know?

 

[NickNack]

In the US they dont ask many questions, and if they do, they usually accept the answers. Its not like opening accounts in the carribean. As long as you have your stuff in order its pretty straight forward. This is obviously for normal business....

 

[Richmond]

In the US they dont ask many questions, and if they do, they usually accept the answers. Its not like opening accounts in the carribean. As long as you have your stuff in order its pretty straight forward. This is obviously for normal business....

Do you have a website?

 

[negon]

In the US they dont ask many questions, and if they do, they usually accept the answers. Its not like opening accounts in the carribean. As long as you have your stuff in order its pretty straight forward. This is obviously for normal business....

You mean no online business?