Apr 6, 2020
Antigua and Barbuda

Open a bank account in Antigua and Barbuda for a Singaporean company from 3,999.00 EUR

Remote opening of an account for a Singaporean company in a bank of Antigua and Barbuda may not seem obvious at first glance, but on closer inspection it turns out to be very advantageous. The financial institution offers a quality service, a wide range of specialized services and fairly affordable rates.

The bank adheres to the rules and recommendations outlined in the concepts of KYC (Know Your Customer) and AML (Anti Money Laundering), so the probability of its being of interest to American and European regulators is extremely low. On the other hand, choosing this jurisdiction for opening an account for a Singaporean company our client will not face a lot of problems or overly picky verification of documents. Therefore, if you are interested in the services of a bank that is geographically close to the U.S. and the Caribbean, but you are not ready to tolerate excessive control and attention to your business, the choice of Antigua and Barbuda will be justified.

If you have already decided that you want to set up a company in Singapore and open an account for it in Antigua and Barbuda, please apply for a prompt and comprehensive consultation on the matter emailing to [email protected].

Open a bank account in Antigua and Barbuda for a Singaporean company together with its registration

If you already have a business operating in the South Asian region, the offered account opening service will be very useful for you. But it is quite possible that you do not have a company in Singapore yet. The procedure is quite complex and costly, and can take a very long time without a comprehensive preparation.

That is why we are honored to offer you two alternatives that will significantly reduce your waiting time and minimize your financial losses. Our experienced consultants will tell you about all the details and intricacies.

How to become a business owner in Singapore without losing time:

  • Open a bank account for a Singaporean company in Antigua and Barbuda while registering a company in Singapore at the same time. This service of ours is very popular with customers who are looking for an opportunity to enter the South Asian market and officially establish themselves in it with a minimum of initial investment. Time required is no more than 2 weeks. The service cost is from 8,300 EUR (account opening + company registration). Additional information.
  • A turnkey ready-made company in Singapore with the zero account. A no-compromise offer for our customers who for some reasons are not ready to wait. The main advantage of such an offer is the minimum period of registration (actually, the whole procedure takes no more than a few hours and is reduced to filling out ready documents). The service cost is from 16,500 EUR, the company type LLC / Pte-ltd. Additional information.

We would like to note specifically that you will no be required to be present in person at the bank in 99% of cases since we will take on all the attendant trouble. But if you decide to be present in person or send your trusted representative to control all stages of registration, we will, of course, meet your expectations. No matter what option you choose you will not have to doubt the success of this process.

Papers for opening a bank account in Antigua and Barbuda for a Singaporean company

All the information provided was checked at the time the article was published. Please check with our experts for an exhaustive list of documents. The Bank reserves the right to request any additional papers, but competent preparation reduces the probability of such a scenario to an extremely low one. If there are any changes in the bank’s policy, we will notify you immediately.

Please note that the bank does not put forward any unambiguous requirements for notarization and apostillization of absolutely all documents, but it does not mean that such actions are unnecessary. Language rules are quite standard, i.e. English only. So all the certificates, extracts, minutes in other languages must be translated.

Personal documents for directors and founders:

  • Travel passport of an established form.
  • Contact information for the courier (name, surname, middle name, actual delivery address).
  • Proof of the actual residence address. The bank’s employees are most likely to accept a paid utility bill for the last 3 months, or a civil passport (pages with your signature, photo and address).
  • A certificate confirming that you have been cooperating with your bank for at least 12 months. If you have difficulties providing this document, please make sure you receive testimonials/references from two professional lawyers or financiers.
  • A fully completed form of the official request for remote opening of an account for a Singaporean company. Opening an account remotely is especially important in the time of the pandemic.

Your company documents package (a set of standard certificates that in this case definitely require notarization):

  • Papers on incorporation.
  • Certificated of good standing.
  • Pre-incorporation contract.
  • Shareholders register.
  • The document appointing the director.

What does the bank account in Antigua and Barbuda give to a Singaporean company?

Service terms and rates adopted by the bank are very favorable. The financial institution has efficient e-commerce platforms and one of the best Internet account management systems in the region (Globex Secure). All amounts are listed in USD, the bank’s main currency, and include the equivalent of EUR in brackets.

Current rates for settlement accounts:

  • Corporate account: 10 (8.95).
  • Trading account (including e-commerce): 100 (89.5).

Minimum allowed balance and rates depending on the account type:

  • Settlement account: 5,000 (4,475) / 20 (18) per quarter.
  • Deposit account: 2,0000 (17,900) / 50 (44.75) per quarter.
  • Classic savings account: 200 (179) / 10 (8.95) per month.
  • Golden savings account: 1,000 (895) / 50 (44.75) per quarter.
  • Gold bonds with a fixed-rate deposit: 25,000 (22,377) / 5 (4.47) per month.

Transfers:

  • Direct payment of loans, debit of orders: 20 (18).
  • Systematic receipt: each transaction is 5 (4.47).
  • Internal transfers: each transaction is 3 (2.68).
  • Payment of checks of other banks is 2 (1.79) per each check.
  • Administrative rate for inactive account: 25 (22.38).

Other costs and rates:

  • Bank account status certificate: 25 (22.38).
  • Confirmation for audit: 40 (35.8).
  • Current credit status report: 25 (22.38).
  • Emails 5 (4.47) per each month.
  • Account look-up: 25 (22.38) per hour.

Peculiarities of the bank guaranteeing an increased level of security for its customers:

  • The bank has a license under the Antigua International Corporations Act.
  • It undergoes an annual financial audit (including external AML/CTF).
  • It is partnering with 30 Caribbean credit unions and banks.
  • The bank is an active member of the SWIFT (Society for Worldwide Interbank Financial Telecommunication).
  • It has correspondent accounts in the largest financial institutions in Europe and North America.

Opening a bank account in Antigua and Barbuda for a Singaporean company is a complex and demanding procedure. But if you come to us for assistance you will personally make sure that it is quite possible to become a client of this reputable financial institution. Our experienced specialists will answer any of your questions, tell you about all the subtleties features of the bank’s operations and take care of all the tasks related to the registration. Please send your request to our e-mail, [email protected], right now.