Foreign Owned Company Hero

Account Opening for Foreign Owned Companies

Enjoy set-up fee waiver for operating companies from now till 30 November 2024

Account Opening for Foreign Owned Companies

Enjoy set-up fee waiver for operating companies from now till 30 November 2024

At a Glance

Looking to expand your business footprint in Asia? DBS offers guided account opening for companies with foreign components*, enabling ease of business set-up in Singapore.

Dedicated Support

Lean on DBS' experienced Relationship Managers to assist with your business account needs. Be assured that your company will be supported for up to six months following your account opening.

Optimise Your Cash Flow Management

Find the right tools to manage your business with our suite of cash flow management solutions, customised to suit your requirements.

Regional Connectivity

Leverage our growing global presence and partnerships to support your business expansion across our 6 core Asia markets.

*This includes foreign incorporated or owned companies and locally owned companies with foreign shareholders

Special Promotion

Enjoy S$2,000 account set-up fee waiver when you successfully open a DBS Corporate Multi-Currency Account. This promotion is applicable to operating companies* from 1 August 2024 till 30 November 2024. 
 
*An operating entity is a business that is actively engaged in offering products or performing services. 
 
Terms and conditions apply.

Awards
Euromoney

Euromoney

Awards for Excellence – 2021
World’s Best Bank

Asset Treasury

The Asset

•    Best in Treasury & Cash Management, ASEAN (2021)
•    Best in Treasury and Working Capital – SMES, APAC (2021)

Global Finance

Global Finance

Best Cash Management Bank in Asia 2022

Euromoney

Euromoney

Awards for Excellence – 2021
World’s Best Bank

Asset Treasury

The Asset

•    Best in Treasury & Cash Management, ASEAN (2021)
•    Best in Treasury and Working Capital – SMES, APAC (2021)

Global Finance

Global Finance

Best Cash Management Bank in Asia 2022

How to apply

This is relevant for your business if you: 
•    are a foreign incorporated company
•    are owned by foreign corporate shareholders
•    are owned by foreigners with non-local residency status
•    fall under these specialised industries (including but not limited to): Fund (e.g. Hedge Fund / Unit Trust Fund)
•    require assistance from a Relationship Manager

For immediate queries, you may reach DBS BusinessCare at 1800 222 2200 / +65 6222 2200 (Overseas) from 8:30am to 8:30pm, Mon-Fri (excluding Public Holidays).

Relevant Documents
Foreign Companies Account Opening Information
FAQs
What type of business account can I open with a Relationship Manager’s assistance?

Manage your cashflow with our Multi-Currency Account, which allows you to transact in SGD and 12 other currencies.
What documents do I need to prepare to apply for a business account?

Click here for the relevant documents required. 
What are the fees and charges?

Click here for the respective fees and charges.
Can a foreign incorporated company or company owned by foreigners open a DBS bank account in Singapore?

Yes. You may submit your interest above for us to get in touch.
Can I set up an account without a Relationship Manager’s assistance?

If your business falls under these categories, it must be assisted by a Relationship Manager: 
•    Fund (e.g., Hedge Fund/Unit Trust Fund etc)
•    Payment Services (MSB)
•    Companies owned by foreign corporate shareholders
•    Companies owned by foreigner with non-local residency status
•    Foreign Incorporated Companies

If your business does not fall into the above categories, you may apply for an account online here.
How can I close the account?

A written instruction in a form of a letter must be submitted and signed by 2 directors or the sole director in a sole directorship company. An account closure fee of S$50 will apply if the account is closed within 6 months from the date of account opening.