Despite its small population of six million, Singapore acts as Southeast Asia’s main financial center. The city-state developed rapidly in the early 2000s, and today, it ranks among the world’s top banking hubs.
Singapore continues taking market share away from competing wealth management and family office destinations like Switzerland. As such, there’s now greater demand than ever to set up banking and brokerage accounts in Singapore as a foreigner.
We do have lots of Singaporean readers, and of course, you can easily walk into any bank branch and open an account if you’re a local citizen or PR.
Getting an account here is more difficult if you’re a non-resident foreigner though. Therefore, this guide is more geared towards a non-resident foreigner who wants to open a Singapore bank account.
We’ll also cover the easiest banks in Singapore to deal with as a foreigner, and mention what each bank excels at.
The best bank for your personal goals will depend on your own needs and there isn’t a one-size-fits-all solution....