Singapore

Singapore is clearly winning new clients by accepting video conference interviews instead of physical interview for the corporate bank accounts openings.

Offering a solution that Hong Kong and Macau are not able or willing to offer, at distance bank account opening, Singapore is definitively a good destination.

Singapore banks usually have well-trained compliance teams and a different risk appetite than their colleagues of Hong Kong or Macau, onboarding clients with specific profiles is easier in Singapore.

Hong Kong companies, as well as foreign jurisdictions companies will find a good nest in Singapore.

Using a Singapore company is a less obvious choice, in contrary to a welcoming banking system we find Singapore companies to be more expensive, more difficult to manage and the mandatory presence of a local resident as individual Director is a negative point.