Best Singapore Banks for Offshore Banking? (EU citizen & resident)

[FreedomSearcher]

Hello everyone,

Does anyone know what’s the best personal bank accounts in Singapore for EU-citizens residing in EU?

I’ll be visiting soon, so in-person visit with the bank is fine.

 

[SCHLOSSFINANZ]

if you don't deposit > 200 k USD your chances are ZERO

 

[Sols]

If you can deposit at least 100–250,000 USD/EUR, you can try UOB, OCBC, DBS, Citibank,‌ and Standard Chartered. Check the minimum requirements with the banks.

In-person visit is not required‍ but can make the process faster and lower some barriers. You can usually initiate contact⁠ online and if they like your vibe, they'll let you schedule a meeting.

 

[FreedomSearcher]

That’s not a problem. Can deposit more than that.

 

[FreedomSearcher]

What’s the acceptance rate like for online business owners? (No sketchy business⁣ model)

 

[SCHLOSSFINANZ]

then try

https://www.ubp.com/en/contact/our-offices/ubp-singapore

 

[daniels27]

If you are HSBC Premier anywhere, you can open an HSBC Premier account in Singapore.‌ Otherwise, you just open a Premier account there but you will need to meet the‍ requirements.

 

[FreedomSearcher]

HSBC Expat has been restricting my account for over 3 months while I always provided‌ everything they asked for and didn’t do any suspicious transactions and am not citizen or‍ resident of a suspicious country (both EU countries).

Therefore I’ll never bank with HSBC anymore.⁠

Which other banks do you recommend in Singapore?

 

[SCHLOSSFINANZ]

https://www.bordier.com/locations/singapore/

 

[Martin Everson]

Standard Chartered. Just apply online.

https://www.sc.com/sg/international-banking/

Citibank Same.

https://www1.ipb.citibank.com.sg/en/citigold/apply-online

P.S $200k is fine if you got further income coming. Always say your opening to‍ invest even if your not.

 

[AlexRitmo]

Hello everyone, same question, I'm also hesitating between Citi (already a customer in the US‌ which should speed up KYC) or DBS which seems to offer a more modern account‍ with stablecoins possibilities ?

 

[linusAG]

Where do you live? What's your⁠ citizenship? What's the volume of your initial deposit?

 

[AlexRitmo]

UE citizen, I live right now in the US (L1 visa)‍ but I will move to Uruguay in few months. Deposit 1M$ or more if necessary.⁠ Thanks !

 

[SCHLOSSFINANZ]

take Bordier, but only after you relocated and cancelled your L1

 

[AlexRitmo]

Thanks for the advice, I didn't know Bordier !

 

[linusAG]

You are a US tax resident, So most Singapore banks will not⁠ onboard you at this stage.

 

[FreedomSearcher]

I live in Cyprus, hold Belgian Citizenship, can deposit $200K initially.‍

 

[JackAlabama]

anything eu is not that great. They dont like it much. Also any trading‍ feature will be blocked (if in EEA).

 

[Marie Manila]

I believe that these freezing mainly happens to UK banks⁤ like HSBC Jersey or HSBC UK.
I have never heard about a freezing at HSBC⁣ Singapore, HSBC Turkey or HSBC US.

 

[Overtrade]

Why you reccomend some private tiny banks‌ when there are to big to fail options?