Overseas Bank Account Opening
For companies expanding overseas, a bank account is the cornerstone for cross-border transactions, client engagement, and tax compliance. It directly affects how quickly a business can begin operations and how efficiently funds can be managed. IVYE GROUP provides end-to-end support—from bank selection and document preparation to due diligence simulations—helping clients increase approval success rates, shorten processing times, and confidently meet banking compliance requirements, thereby accelerating international business setup.
✅ Scope of Bank Account Opening Services
- Bank and account type recommendations
- Preparation of account-opening packages (KYC documents, etc.)
- Drafting business profiles and fund usage statements
- Assistance with remote applications or in-branch appointments
- Due diligence simulation and Q&A support
- Multi-currency account advisory and ongoing compliance reminders
📍 Recommended Banks
DBS Bank
UOB
OCBC
Maybank
Standard Chartered
Citibank
HSBC
📍 Bank Account Opening Workflow
1
Client Assessment & Strategy Design
- Review company type, business model, shareholding structure, and tax background
- Recommend banks and account types (e.g., operational accounts, multi-currency accounts)
- Tailor account-opening strategy based on remote availability, processing speed, and cost
2
Document Preparation & KYC Compliance
- Organize corporate registration documents, shareholder/director IDs, and source-of-funds proof
- Provide bilingual templates and compliance checks to ensure completeness
- Prepare explanatory notes on ownership, parent company links, and fund purpose as required
3
Fund Usage & Business Profile Drafting
- Draft clear fund usage statements, business summaries, and client profile descriptions
- Ensure the bank understands account purpose and reduces perceived compliance risks
4
Due Diligence Simulation & Preparation
- Provide mock Q&A sessions covering typical bank due diligence questions
- Prepare structured responses for transaction flow, client base, and fund sources
5
Remote or In-Person Assistance
- Support remote account opening applications or assist with scheduling branch appointments
- Arrange video conferences or submission packages depending on the bank’s process
6
Multi-Currency Account Setup & Maintenance
- Advise on opening USD, EUR, SGD, and other multi-currency structures
- Provide compliance usage guidelines and reminders for minimum activity requirements
⭐Required Documents Checklist for Clients
| Item | Description |
|---|---|
| Company Registration Documents | Certificate of Incorporation, Bizfile, Constitution (M&AA) |
| Director & Shareholder IDs | Passport and proof of address (last 3 months) |
| Business Profile | Business scope, main products/services, key markets |
| Client & Supplier Information | Names, jurisdictions, contracts or invoices (if available) |
| Fund Usage Statement | Expected sources, usage purposes, and main currencies |
| Company Structure Chart | Ownership layers, trust structures, or supporting notes |
Note: Specific document requirements may vary by bank; always refer to the latest bank guidelines.
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