Youbiz and Aspire (EMIs)

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For GIRO, you can use a personal account. You need to download the form and mail it in. Please ensure that your bank has your signature on file, as they will validate it. You need to send it in in paper and processing takes 21 days according to the indications on the form.

Hi there

I appreciate the response, sorry for the lat reply it's been a nightmare trying to sort this out. I’ve applied for GST, and for GIRO using my personal Singapore bank account, I’m just waiting to hear back from them if it’s successful. However I’ve seen on the IRAS website that they definitely do not issue refunds to third party bank accounts, so it won’t work for that.

"No, your GST credits will not be refunded to third parties. Instead, they will be refunded to your business via PayNow using the UEN of your business"

In short, I think the combination with a personal GIRO account (required for voluntary GST registration) and a Paynow Corporate (local business account) should work.

Regarding PayNow Corporate, it seems that is only available for traditional Singapore corporate bank accounts too, so I can’t see how to get one.

For Paynow Corporate, habve you tried anext.com.sg?

There isn’t anything online about Anext using PayNow Corporate and it’s not listed as one of the participating banks on the IRAS website.

An alternative would be to use GIRO in combination with a foreign business account;

Do you have a US or Taiwan bank account for your company?

No I use Wise and Aspire in Singapore. I don’t have a foreign business bank account for the company, I imagine that would be just as hard as getting a local Singapore bank account. Anything else I can try?

I thought people overseas registering businesses in Singapore was a very common thing, surely most of them must be encountering a similar situation? I don’t know why something as simple as tax refunds is made such a headache for us to try and solve!

 

[daniels27]

I thought people overseas registering businesses in Singapore was a very common thing, surely most of them must be encountering a similar situation? I don’t know why something as simple as tax refunds is made such a headache for us to try and solve!

Yes, totally agree. I sent you a PM, will update you once I know more.