Offshore Bank Account - Internet "openable"

[rsraleigh]

Dear All,

Thanks for all the interesting topics here in the forum ...

I have been reading about Singapore like being one of the best places to set up an offshore account as an expat. I need to open an account preferably doing everything by internet/fax and was wondering if somebody has experience on it. Should be an "expat-friendly" since I need to get my money out of there via debit/credit card.

The point right now is that I am getting the money from the US in a Spanish account and want better a Euro Account int Singapore since I do not have any links with Singapore and looks like a better option.

Look forward your thoughts. Many thanks

[sweetchariot]

I would say it is unlikely that you can do it on the internet due to all the anti money laundering checks that need to be done these days, but all countries have different rules and regs, and I have no direct experience with Singapore.

[PattayaParent]

You can apply for a GBP account online at Alliance & Leicester in Isle of Man (http://www.alil.co.im/offshore-sterling-accounts/Offshore-esaver.aspx?bhcp=1) but I think if you are not an existing customer you will still have to send the hardcopy forms with all the proof of address requirements to them before they will accept your money.

You can also get a Euro account which you can manage online but you again have to fill in their forms etc.

http://www.alil.co.im/apply-now.aspx?ID=13

[naka]

No, I had checked various Singapore banks in the past, you need to show up in person.

Well, that was my experience with the numerous banks I spoke to.

Naka.

[Daffy D]

I set up a HSBC account in Jersey. I can’t remember the details but it was all done over the internet from Thailand.

I can do internet banking, and have a HSBC bank card that I can use to withdraw money directly.

D.D.

[monty]

Same here, HSBC in Jersey.

You apply on-line, but have to print out application forms, fill them out, and mail them to their office, along with notarized copies of your passport, and at least two recognized utility bills in your own name and address (also notarized). Mobile phone bills are not accepted, but fixed phone lines, along with electricity and water bills are accepted.

All the whistles and bells, visa debit card, internet banking etc. Debit card is bloody expensive to use though.

But if you keep your account above a certain amount (60,000 UK Pounds) international transfers are free!

[naka]

The OP was asking about Singapore.

Naka.

[Smithson]

I would also be interested in offshore accounts from Singapore. It may be worth a trip down there to open one. How do they work for transferring money to Thai accounts? What is needed to open one?

[naka]

I would also be interested in offshore accounts from Singapore. It may be worth a trip down there to open one. How do they work for transferring money to Thai accounts? What is needed to open one?

To open you need passport and proof of address e.g. house utility bill, credit card statement etc.

Regards getting money into Thai bank ... same as usual, electronic transfer etc.

Anyway, all the banks have websites with this info. HSBC (Sing.) is pretty non-resident friendly.

Naka.

Edited December 10, 2007 by naka