OCBC Singapore bank account for Belize IBC ?

[BC0312]

Hello everyone,
I intend to open a Belize IBC ( since I want the tax to be 0% and minimum accounting report), the formation agent will likely to introduce me to OCBC Singapore and said the acceptance rate is 80% ( I live in Asia so personal visit is not a problem).
What do you think ? Since I read on here someone said reliable banks no longer accept Belize IBC but OCBC is a big bank in Asia ?
And beside Belize ( and other Caribbeans tax haven ) do you recommend any other place that have 0% tax, minimum accounting reports , minimum personal visit to open an IBC ?
Thank you very much

Another question is should I just contact the bank in Singapore or do I need to be " introduced" by the agent ? ( Will cost me a few hundred USD and I'm not sure if they really do anything beside forwarding my documents to the bank? )

Last edited by a moderator: Dec 11, 2018

 

[Henry ng]

Hi. Through an introducer, they will advise you the required information & documents. Basically, with OCBC they request you to have real business in Singapore and Asia region. The initial deposit & daily balance will be high.

 

[Mark Rucken]

You can contact them directly, they are actually very professional and they reply to every application. Business in Singapore is a must, a personal visit is a must and initial deposit is 30k USD. Good luck.

 

[fshore]

BC0312 said:
Hello everyone,
I intend to open a Belize IBC ( since I want the tax to be 0% and minimum accounting report), the formation agent will likely to introduce me to OCBC Singapore and said the acceptance rate is 80% ( I live in Asia so personal visit is not a problem).
What do you think ? Since I read on here someone said reliable banks no longer accept Belize IBC but OCBC is a big bank in Asia ?
And beside Belize ( and other Caribbeans tax haven ) do you recommend any other place that have 0% tax, minimum accounting reports , minimum personal visit to open an IBC ?
Thank you very much

Another question is should I just contact the bank in Singapore or do I need to be " introduced" by the agent ? ( Will cost me a few hundred USD and I'm not sure if they really do anything beside forwarding my documents to the bank? )
Click to expand...

Did they say what minimum deposit they require (to avoid monthly fees)?
From the price list it seems to be 30K for foreign companies to avoid $100 monthly fee, and there is still a S$30 monthly account fee even when you have above 30K.

 

[BC0312]

The deposit is ok, I have my company in Asia, but the new Belize company will have no records or history so how can they judge if they want to open an account for that Belize company ?
And anyone knows what type of documents the bank need and what will they ask during the interview ? Much appreciated

 

[Mark Rucken]

BC0312 said:
The deposit is ok, I have my company in Asia, but the new Belize company will have no records or history so how can they judge if they want to open an account for that Belize company ?
And anyone knows what type of documents the bank need and what will they ask during the interview ? Much appreciated
Click to expand...

You would need to present Certificate of Formation of your Asian company, contracts, bank statements, financial records. By checking your main company, they are making sure your Belize entity has a healthy business. This is how it works with HK banks as well.