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I got five offers n my hand now, but I have accepted the best out of all. Those of which are:-FujitsuOCBC bank ( Currently am working at UOB Bank)A local company in MalaysiaA local company in SingaporeA local company in UAEMy choice is obviously Fujitsu, because of these four reasons :-A) My position promoted from Senior Java developer to Java LeadB) Salary Increment by 25% more from my current salaryC) Permanent Position ( Your job is guaranteed)D) Fujitsu is a world recognized companyDon't be picky over jobs but take the best out of what available to you, and when it comes to job, get rid of the thoughts “ I will wait”, If you choose to wait, then ye r gonna wait forever.

The ACRA requires that businesses in Singapore set up a bank account. It can get a little confusing given that there are so many options to choose from. We've ranked the top four banks in Singapore: DBS, Maybank, OCBC, and UOB as well as a great new solution: Transferwise. Jul 1, 2019So I have included below how to go about opening a corporate bank account, and then which banks are the best banks in Singapore. I hope this works for you. Thanks for your questionOpening a Corporate Bank Account in Singapore[Singapore companies have plenty of options when it comes to opening a corporate bank account. Most of the banks in Singapore offer attractive features such as multi-currency accounts, internet banking, credit cards, trade financing, freedom to move funds across countries, and more. Opening a corporate bank account in Singapore is a relatively simple and straightforward procedure. However, it is important to compare the corporate account's features of the various banks in order to select the bank that comes closest to meeting the particular needs of your company.The purpose of this guide is to provide an overview of the requirements for opening an account and will assist you in choosing a bank that best matches the banking needs of your company. The focus of this guide is on the banking needs of small to mid-size companies.Note that the information presented here is for general guidance only. Once you have narrowed down your choice to a few banks, you should confirm the account features with the respective bank(s) directly, to ensure you are aware of their latest policies and offerings. Banks operate in a very competitive environment and are periodically adjusting their offerings to remain competitive.Singapore Account Opening RequirementsIn general, most banks have the following requirements for opening a corporate bank account in Singapore:1) Many banks require that the account signatories and majority directors be physically present in Singapore for paperwork signing at the time of opening the company bank account. Some banks may accept the signing of documents at one of their overseas branches or in front of a Notary Public.2) Typically, the banks would require the documents listed below. Additional documents may be required by the bank on a case-by-case basis.Completed Corporate Account Opening Forms (signed by authorized signatories as per the board resolution)Board of Directors Resolution sanctioning the opening of the account and the signatories to the account (to be prepared by your company secretary)Certified True Copy of Resolution sanctioning the opening of the account and the signatories to the account (most of the banks have their own format and you just need to sign it)Certified True Copy of Certificate of Incorporation (must be certified by the company secretary or one of the directors)Certified True Copy of Company’s Business Profile from Company Registrar (must be certified by the company secretary or one of the directors)Certified True Copy of Company’s Memorandum and Articles of Association (MAA) (must be certified by the company secretary or one of the directors)Certified True Copies of Passport (or Singapore IC) and Residential Address Proof of the Directors, Signatories, and Ultimate Beneficiary Owners. If you are in Singapore, just bring the originals and the bank will make a copy.Local Banks in SingaporeFeatureFeatureDBSOCBCCan the account be opened without being physically present in Singapore?** Physical presence is strongly recommended for all the banks to avoid delays.No. The executive director and authorized signatory must be present, for a face-to-face meeting. However, some exceptions may be made on a case by case basis subject to the bank’s discretion.DBS Bank offers online applications where you can potentially skip the branch visit and save time – account verification can be done over Facetime/Skype or a phone call, subject to the bank’s conditions.No. The executive director and authorized signatory must be present, for a face-to-face meeting. However, some exceptions may be made on a case by case basis subject to the bank’s discretion.Singapore Dollar Current AccountSetup feeNoneNone. However, there is an account fee of S$38 per month (waived for 1st 3 months)Deposit requiredS$1,000 to S$3,000S$3,000Minimum balance requiredDBS Digital Business Account has no minimum balance requirement.DBS Business Account requires an average monthly balance of S$10,000, or S$35 monthly fee will apply.Average monthly balance of S$5,000 (waived for 1st 6 months). Thereafter, S$35 per month if monthly average balance falls below S$5,000.Debit cardYes, no annual fees. Earn 0.3% cash rebate on all charges.Yes, with S$5,000 daily cash withdrawal limit and with S$10,000 daily debit card transaction limit.Cheque bookS$25/book for DBS Digital Business Account.Free-of-charge with DBS Business Account.YesCredit cardYes, subject to approval**For local entities.No. Debit card available linked to SGD account.Internet bankingYes, free access. Inquiries, local payments, overseas payments. No max transaction amount limit (unless set by the customer). Full transactional capabilities on desktop and mobile app versions.Yes. Inquiries, local payments, overseas payments. No max transaction amount limit (unless set by the customer).Foreign Currency AccountForeign currency account availabilityBoth current account and fixed deposit account available in major currencies.Both current account and fixed deposit account available in major currencies.Initial deposit requiredVaries based on currency (For example, USD1,000 and EUR8,00).Varies based on currency (For example, USD1,000 and EUR1,000).Minimum balanceVaries based on currency (For example, USD1,000 and EUR800).Depends on the currency type, normally equivalent to US$500/EUR500.Cheque bookYes, for certain currencies.Yes, for USD.Debit CardYes.No.Internet bankingYes, free access. Inquiries, local payments, overseas payments. No max transaction amount limit (unless set by the customer). Full transactional capabilities on desktop and mobile app versions including DealOnline FX platform.Yes. Inquiries, local payments, overseas payments. No max transaction amount limit (unless set by the customer).Credit CardYes, subject to approval.No.Related ServicesBusiness InsuranceYesYesTreasury Services: FX Spots, Bonds, IR Swaps, FX Options, Futures, Forwards, etc.YesYesBusiness Loans**Generally the entity must have been in operation for a minimum of 1-3 yearsYes. The loan amount depends on factors such as company history, number of employees, local shareholding, etc.Yes. The loan amount depends on factors such as company history, number of employees, local shareholding, etc.Accounts Payable Services: cashier’s order, DD, TT, interbank GIRO payment, internal fund transfer, cheque issuance servicesYesYesAccounts Receivable Services: incoming TT, bill payment services, GIRO CollectionsYesYesLiquidity Management ServicesYesYesTrade Finance Services: Import Products, Export Products, Bank GuaranteesYesYesInternational Banks in SingaporeFeatureMaybank (FlexiBiz)Standard CharteredCitiBank (CitiBusiness)Can the account be opened without being physically present in Singapore?** Physical presence is strongly recommended for all the banks to avoid delays.We require face to face meeting for all authorized signatories in account opening as part of our due diligence process. However, in exceptional cases where one of the directors (not major shareholder nor authorized signatory) is unable to come to Singapore, we can arrange for the client to visit one of our overseas branches (London, New York, Hong Kong, China, Malaysia, Indonesia, Philippines, Cambodia, Vietnam, Laos & Myanmar) where they will assist to verify the documents and signature before sending back to Singapore for processing.No. The executive director and authorized signatory must be present, for the due diligence meeting with the bank officer. However, some exceptions may be made subject to the bank’s discretion – e.g. existing customers can go to the bank’s branch or appointed agent worldwide, for identification verification and due diligence teleconference.No. The executive director and authorized signatory must be present, for a face-to-face meeting. However, some exceptions may be made on a case by case basis subject to the bank’s discretion.Singapore Dollar Current AccountSetup feeNilNoneNilInitial deposit requiredS$1,000S$30,000S$100,000 or equivalent (USD equivalent for USD account).Minimum balance requiredNil.Average monthly balance of S$30,000; or S$50 monthly fee will apply.S$50,000 or S$100 monthly fee will apply (same applies for both SGD and USD account).*Minimum balance is based on total relationship balance rather than per account.ATM cardNo.No.Nil.Cheque bookYes.Yes.Yes.Credit cardYes^No. Debit card available (only linked to SGD).Corporate commercial cards available.Internet bankingYes.Yes. One-off setup fee of S$50 will apply.Foreign Currency AccountForeign currency account availabilityUSD, GBP, EUR, CAD, AUD, NZD, HKDBoth current account and fixed deposit account available in major currencies.Both current account and fixed deposit account available in major currencies.Initial deposit$1,000 (in respective currencies, except for HKD $10,000).US$30,000 (Varies based on currency).S$100,000 or equivalent (USD equivalent for USD account).Minimum balance$1,000 (in respective currencies, except for HKD $10,000).Varies based on currency.Average monthly balance of US$200,000 or S$200 monthly fee will apply*Minimum balance is based on total relationship balance rather than per account.Cheque bookFor USD only.For USD only.Yes.ATM CardNo.No.Nil.Internet bankingYes.Yes. One-off setup fee of S$50 will apply.Yes.Related ServicesBusiness InsuranceYes.Yes.No.Treasury Services: FX Spots, Bonds, IR Swaps, FX Options, Futures, Forwards, etc.Yes.Yes, depending on business activities.Yes.Business LoansYes. Generally, the entity must have been in operation for a minimum of 1-3 years.Yes. The loan amount depends on factors such as company history, number of employees, local shareholding, etc. Minimum 3 years of financial statements required.Yes. Subject to the bank’s assessment.Accounts Payable Services: cashier’s order, DD, TT, interbank GIRO payment, internal fund transfer, cheque issuance servicesYes.Yes.Yes.Accounts Receivable Services: incoming TT, bill payment services, GIRO CollectionsYes.Yes.Yes.Liquidity Management ServicesYes.Info not available.Yes.Trade Finance Services: Import Products, Export Products, Bank GuaranteesYes.Yes.Yes.^ Maybank provides a business credit card with the following criteria:Director(s) must be aged between 21 and 60; Company must be registered in Singapore (ACRA) with at least one local Director (Singaporean or Singapore PR); Company must be in operation for at least 2 years, with an annual sales turnover of at least S$200,000; If newly incorporated, alternative option is to apply for a business credit card fully secured via time deposit with the bank (Min S$10K limit).In SummaryAlmost all major banks of the world have their presence in Singapore. Banks are generally happy to open a corporate bank account for any company (whether Singapore or offshore) as long as the necessary paperwork is submitted and the banks are satisfied with the information provided for purposes of their internal due diligence.Need help to open a Singapore bank account?Hawksford offers unparalleled subject-matter expertise and comprehensive end-to-end support for all manner of establishing and managing a business in Singapore.FIND OUT HOW HAWKSFORD CAN HELPBest Business Bank Accounts in Singapore: DBS, OCBC, or UOB?BY: GORDON NG May 31, 2017Apart from its strict laws and multicultural society, Singapore is well known for its established and diverse financial sector. Ranked one of the most competitive financial centers in the world, the island republic is set to become even more attractive to businesses as it eagerly welcomes the digital age. While the Singapore government pushes the boundaries with its Smart Nation initiative, banks are taking the cue and becoming more innovative with their processes. This has resulted in the rapid growth of the FinTech industry, meaning that setting up a business entity in Singapore is now just a few clicks away.First things first: The sign-upWhere the general experience with opening an account is concerned, DBS wins hands-down. It takes 5 minutes to apply for a DBS Business Account from the DBS site, as opposed to waiting hours in a queue at OCBC and UOB. Applying for a DBS Business Account has been one of my favorite banking experiences and it shows DBS’ commitment to being the best digital bank in the world.Between OCBC and UOB, I prefer OCBC, as you can arrange for a meeting with your assigned Relationship Manager (RM) to get your documents done. Nonetheless, both OCBC and UOB require you to be present to sign thick stacks of documents. With DBS on the other hand, everything is done online and the paperwork is minimal. Even better, it’s system can connect to ACRA and retrieve your company’s information to autofill some of the fields. How useful!Look through the slides for a general feel of DBS and OCBC’s digital platformsUser-friendlinessComing from an HR tech company, I naturally paid attention to the user interface and user experience (UI/UX) of the different platforms as well.In my opinion, OCBC Velocity has the best UI/UX, followed by DBS IDEAL and lastly, UOB BIB Plus. OCBC’s previous design had too many unnecessary steps on their platform, and after a revamp around 2014, the whole experience has become very pleasant. The system takes you from A to B within a few clicks, whether you’re transferring funds or disbursing salaries. DBS IDEAL hasn’t changed much since it was launched, but I must applaud their new digital token product, which you can access on your mobile phone. That has saved me the hassle of carrying a token everywhere I go. As for UOB BIB Plus, the system was not intuitive enough, and that meant having to fill in many fields and select from many drop-down menus to get my work done.How the DBS IDEAL digital token worksCost comparison of digital business accountsIn an effort to streamline their operations and cut down on manual work, the banks have implemented a new generation of business accounts. DBS started a fully online digital business account called DBS Digital Business, which eliminates any manual transactions. OCBC and UOB followed with their own versions of digital accounts shortly after:Making the best choice for yourselfHaving tried out all three platforms, I’d say DBS and OCBC have the best UI/UX and setup processes, with DBS edging out the rest thanks to their speedy setup time and digital mobile token. I also had a pleasant experience with the customer service representative at DBS when I opened a business bank account with them. What has your experience been like so far, fellow entrepreneurs?

Alright so I want you to know that I'm not going to add any snarky comments or talk about my believes, I am going to first answer your question, assuming that what you are saying is correct, and then I am going to clarify some of your misconceptions.now you mentioned the best country for economic freedom. I am using the data from the World Bank database on the most business friendly countries, which is what the rank means . the tax rates will be nowhere near 70%*1.SingaporeRank:1Singapore is widely regarded as one of the most economically free countries in the world. They are also headquarters for some companies such as OCBC and Wilbur. If you are as rich as you want to be, (above 400k I'm assuming) you will pay 28% in income. that and the VAT are the only taxes in Singapore. However, THIS IS PROGRESSIVE so it will be 28% on anything OVER 400k. I also want you to know that I will be covering different types of countries instead of each individual one, because many countries in the top ten have many similarities. If you don't mind the language and cultural barrier you will do well. Singapore represents the Asian TIGERS who have a strong economy through moderate taxes and low regulation.Other similar: Hong Kong(5) S.Korea (4)2. New ZealandRank:2I put this one next because they speak English, and they are a western culture so I think assimilation will be much easier for you. They have no capital gain, payroll, health care or social security tax, and no inheritance tax, but other taxes apply (i.e. property, sales) They pay 33% over 70k, which is AGAIN PROGRESSIVE. They can afford low taxes because they are a small country without much to lose, so people looking for lower taxes ( Hint Hint) mostly come to these countries.Other similar: Ireland, Netherlands3.DenmarkRank 3Now this is going to be a major shock, "DENMARK!!! *GASP* THEY ARE A SOCIALIST PARADISE!! HOW ARE THEY RANK THREE!!", they are rank three because they are smart. while I like Mr.Sanders better than any other candidates, he is still very wrong on multiple issues and one of them is Denmark. The Danish have many social programs and high guaranteed taxes yes, but for entrepreneurs THEY REALIZE THAT THEY ARE VITAL FOR THE ECONOMY, So they aren't over taxed. You probably hate the Scandinavian countries, but THEY ARE NOT RUN BY IDIOTS. I respect them because they understand the difference between guaranteed income and business income.Similar countries : Norway(8) Sweden(9) Finland(10)4.CanadaRank: 13Now Canada tries very much to be first on business, but they are a large country and have many more people SO THEY ARE BOUND TO A CERTAIN AMOUNT OF TAXATION. Now the federal rate for business is 15% BUT, you also have to pay the rate of whatever province you live in ( around 10-15%). they do their best to keep their regulation at a minimum, but they are limited by the size of their countrySimilar: U.S. (7) and U.K.(6)Know for the explanation.here is an estimate of how taxes will be like under SandersBefore I continue, I want you TO CALM DOWN. BECAUSE THIS ISNT 100% ACCURATE OR EVEN 80% ACCURATE. This is an estimate by vox on bernie's tax rates. You can clearly tell it wont be like this because they tax 75k at 49% but 118k at 36%. Now let me tell you why you should be much less worried than you are1.Progressive tax ratesI mentioned this before and Ill say it again A 70% Tax Rate does NOT mean you pay 77%. All it means is that anything over 10 million is taxed at 77%. For example, if the tax brackets were 10% for 50k and 25% for 100K and you made 120k YOU WOULD NOT PAY 25%!!! You would pay 10% on anything OVER 50k and 25% on anything over 100k. So from 50K to 100K is 50K times 10% is 5k and 20K over 100k is taxed at 25% which is 5k, so you will pay 10k in total, 10%, EVEN IF YOU DO HIT THE 70% tax rate, YOU WILL PAY LESS THAN THAT2.DeductionsIn the 1950's the highest marginal tax rate for millionaires was 90%, sounds insanely high right? even with progressive taxation, that would still be 80% maybe 70% at best? NOPE back in the 1950's the highest EFFECTIVE tax rate was 50%. This is because just by being rich, you will qualify for thousands for dollars of exemptions, which will significantly lower you tax rate, Sanders or not.3.Political realityEven if Sanders gets elected president, he will have to go through this thing called congress. While the democrats will probably win the senate, there's near NO WAY sanders can win the house. The republicans have 30 seats over, and unless millennials come out to vote, (which they don't) sanders is screwed once he gets to the white houseNow PLEASE UP VOTE as this took me a long time to writeEase of doing business index (1=most business-friendly regulations)Singapore - Income Taxhttp://4.UKCanadian Corporate Tax TablesTax basics for Canadian expatsNew Zealand tax system - money & taxesForbes Welcome