Considering it is one of the safest and strongest in the world, Singapore is revered by business leaders for its banking system.
As such, the Singapore banking system is open to foreigners who are looking for a safe haven for their savings.
The average minimum entry requirement for foreign applicants in terms of their account balance at their Singapore bank account is SGD250,000 (ca. EUR165,000 or USD185,000 as of March 2019).
Applicants are required to visit the bank in person and produce their passport and proof of address for identity verification. Please have a look at this article to find answers to the most frequently asked questions concerning the establishment of personal accounts in Singapore banks.
Though the procedure of opening personal accounts in Singapore is relatively straightforward, we recommend consulting professionals who can assist you as details, rules and regulations change from time to time.