Can I open a Singapore bank account without visiting Singapore?

Yes, with fintechs. Wise Business, Aspire, Airwallex, and ANEXT all support fully remote onboarding. Traditional banks (DBS, OCBC, UOB) generally require at least one branch visit by an authorized signatory.

Do I need a Singapore address to open a business account?

Traditional banks require at least one director to have a Singapore residential address (EP, PR, or citizen). Fintechs accept your overseas address. Your registered office address (which can be your corporate secretary's address) is separate from the director's residential address requirement.

Can a foreigner open a personal bank account in Singapore?

This guide covers business accounts. For personal accounts, EP holders can open accounts at any bank. Tourists can open accounts at some banks (DBS, OCBC) with a minimum deposit, but options are limited. Personal accounts should not be used for business transactions if you have a Pte Ltd company.

What if my bank application is rejected?

Common rejection reasons: incomplete documents, unclear business description, high-risk industry, or directors from sanctioned jurisdictions. If rejected by a traditional bank, try a fintech first to establish a banking relationship and transaction history, then re-apply after 6-12 months.

Can I open multiple bank accounts for one Singapore company?

Yes, and it is recommended. Many businesses use a traditional bank for local operations (salary payments, GIRO, government transactions) and a fintech for international payments (multi-currency, FX). There is no legal limit on the number of accounts.

Can Foreigners Open a Bank Account in Singapore? (2026 Guide)

GrowAcross EditorialPublished 19/04/2026

8Last updated 19/04/2026

Can Foreigners Open a Business Bank Account in Singapore?

Yes. Singapore welcomes foreign entrepreneurs and offers multiple pathways to open a business bank account. However, the process varies significantly based on your immigration status. Before diving in, you can compare all bank accounts in Singapore on our main comparison page.

Employment Pass (EP) Holders

EP holders have the easiest path. All three local banks (DBS, OCBC, UOB) and most fintechs accept EP holders. You will need to visit a branch in person for DBS and UOB; OCBC offers partial online opening. Typical timeline: 1-3 weeks.

EntrePass Holders

EntrePass holders enjoy similar access to EP holders. All major banks accept EntrePass as valid work authorization. The key difference: some banks may request additional documentation about your business.

Non-Resident Directors (No EP)

If you are a director of a Singapore company but do not hold a work pass, your options are more limited. Traditional banks typically require at least one signatory with a Singapore address. Fintechs like Wise and Aspire accept non-resident directors with fully remote onboarding.

Tourists and Short-Term Visitors

Opening a business bank account as a tourist is extremely difficult at traditional banks. However, fintech providers like Wise Business allow you to register a Singapore entity and open an account without ever visiting Singapore.

Banks That Accept Foreigners in Singapore

Foreign-Friendly Banks Comparison


DBS BusinessCare	No (EP/PR required)	Yes	No (branch visit)	SGD 3000
OCBC Business Growth	No (EP/PR required)	Yes	Partial	SGD 0 (first year)
UOB BizAccount	No (EP/PR required)	Yes	No (branch visit)	SGD 1000
Aspire	Yes	No	Yes (fully remote)	SGD 0
Wise Business	Yes	No	Yes (fully remote)	SGD 0
Airwallex	Yes	No	Yes (fully remote)	SGD 0
ANEXT (MAS licensed)	Yes	No	Yes (fully remote)	SGD 0
CIMB BizChannel	No (local address needed)	Recommended	No	SGD 0

Information as of April 2026. Confirm current requirements with each provider.

Fintechs offer the easiest path for non-residents, while traditional banks provide access to credit facilities and government services.

Compare All 9 Singapore Banking Providers

Side-by-side comparison of fees, reviews, and non-resident requirements across digital banks and traditional institutions

See full comparison

Opening a Business Bank Account Without an Employment Pass

If you do not hold an Employment Pass but have a Singapore-registered company, four fintech providers accept fully remote applications:

Wise Business

Best for multi-currency needs. Hold 40+ currencies, receive payments locally in 9 countries, and convert at mid-market rates. No minimum balance, no monthly fee. IBAN and local account details for SGD, USD, EUR, GBP, and AUD.

Aspire

Best for startups. Built-in expense management, corporate cards, and full API access for accounting integration. Zero minimum balance. Strong integration with Xero and QuickBooks. Singapore-headquartered.

Airwallex

Best for high-volume international payments. Multi-currency accounts with competitive FX rates. Batch payment capabilities. Strong API for e-commerce and marketplace businesses.

ANEXT Bank

Best for risk-averse founders. ANEXT is a subsidiary of Ant Group with a full MAS digital wholesale bank licence. Zero minimum balance and no monthly fees.

How to Open a Bank Account as a Foreigner: Step by Step

Step 1: Register Your Company

Incorporate with ACRA (or use a corporate secretary service). You will receive a UEN and BizFile+ profile within 1-2 days.

Step 2: Choose Your Bank

EP holders should consider traditional banks for credit facilities and government acceptance. Non-residents should start with Wise or Aspire for fastest opening.

Step 3: Prepare Documents

Gather all documents from the checklist above. Ensure your ACRA profile is dated within the last 3 months.

Step 4: Submit Application

For traditional banks: book a branch appointment (DBS, UOB) or apply online (OCBC). For fintechs: complete the online application in 15-30 minutes.

Step 5: Complete KYC

Traditional banks: 2-4 weeks (may request additional documents). Fintechs: 1-3 business days. You may receive interim access while full KYC is processed.

Timeline summary: Fintechs can have you operational in 1-3 days. Traditional banks typically take 2-4 weeks. Companies with complex structures (multiple overseas shareholders, nominee directors) may face extended KYC.

Can Foreigners Open a Bank Account in Singapore?