All banks in Singapore have access to ACRA’s BizFile+ system, so it is quite easy for them to retrieve your company’s latest recorded information when you’re opening an account with them.
At least two directors (or one director and one secretary) need to present themselves at the branch (or in the case of OCBC Bank, meet the bank officer).
These are the documents you will need to bring to the bank:
- Latest ACRA Business Profile of the Company;
- Memorandum and Articles of Association (M&A) or Constitution of the Company;
- Identification (NRIC/FIN/Passport) of Directors
There is no need to prepare a directors’ resolution as the bank will have a standard form which you (the directors) can execute while you’re at the branch. Do ask for a copy of the resolution executed so that your company secretary can keep it in the company’s records.
If you haven’t decided which bank to open an account at, check out our blog post!