Best Singapore Banks for Offshore Banking? (EU citizen & resident)

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Hello everyone,



Does anyone know what’s the best personal bank accounts in Singapore for EU-citizens residing in EU?



I’ll be visiting soon, so in-person visit with the bank is fine.
 
If you can deposit at least 100–250,000 USD/EUR, you can try UOB, OCBC, DBS, Citibank, and Standard Chartered. Check the minimum requirements with the banks.



In-person visit is not required but can make the process faster and lower some barriers. You can usually initiate contact online and if they like your vibe, they'll let you schedule a meeting.
 
Sols said:






If you can deposit at least 100–250,000 USD/EUR, you can try UOB, OCBC, DBS, Citibank, and Standard Chartered. Check the minimum requirements with the banks.



In-person visit is not required but can make the process faster and lower some barriers. You can usually initiate contact online and if they like your vibe, they'll let you schedule a meeting.

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What’s the acceptance rate like for online business owners? (No sketchy business model)
 
If you are HSBC Premier anywhere, you can open an HSBC Premier account in Singapore. Otherwise, you just open a Premier account there but you will need to meet the requirements.
 
HSBC Expat has been restricting my account for over 3 months while I always provided everything they asked for and didn’t do any suspicious transactions and am not citizen or resident of a suspicious country (both EU countries).



Therefore I’ll never bank with HSBC anymore.



Which other banks do you recommend in Singapore?
 
Hello everyone, same question, I'm also hesitating between Citi (already a customer in the US which should speed up KYC) or DBS which seems to offer a more modern account with stablecoins possibilities ?
 
AlexRitmo said:






Hello everyone, same question, I'm also hesitating between Citi (already a customer in the US which should speed up KYC) or DBS which seems to offer a more modern account with stablecoins possibilities ?

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Where do you live? What's your citizenship? What's the volume of your initial deposit?
 
linusAG said:






Where do you live? What's your citizenship? What's the volume of your initial deposit?

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UE citizen, I live right now in the US (L1 visa) but I will move to Uruguay in few months. Deposit 1M$ or more if necessary. Thanks !
 
AlexRitmo said:






UE citizen, I live right now in the US (L1 visa) but I will move to Uruguay in few months. Deposit 1M$ or more if necessary. Thanks !

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You are a US tax resident, So most Singapore banks will not onboard you at this stage.
 
linusAG said:






Where do you live? What's your citizenship? What's the volume of your initial deposit?

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I live in Cyprus, hold Belgian Citizenship, can deposit $200K initially.
 
FreedomSearcher said:






I live in Cyprus, hold Belgian Citizenship, can deposit $200K initially.

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anything eu is not that great. They dont like it much. Also any trading feature will be blocked (if in EEA).
 
FreedomSearcher said:






HSBC Expat has been restricting my account for over 3 months while I always provided everything they asked for and didn’t do any suspicious transactions and am not citizen or resident of a suspicious country (both EU countries).



Therefore I’ll never bank with HSBC anymore.

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I believe that these freezing mainly happens to UK banks like HSBC Jersey or HSBC UK.

I have never heard about a freezing at HSBC Singapore, HSBC Turkey or HSBC US.
 
Marie Manila said:






I believe that these freezing mainly happens to UK banks like HSBC Jersey or HSBC UK.

I have never heard about a freezing at HSBC Singapore, HSBC Turkey or HSBC US.

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HSBC Turkey also became crazy from 2025.



Probably the main reason is that they changed rules in Turkey and only two state owned banks can open accounts if you don't have Turkish residence permit/ citzenship. Ziraat and Vakiflar.



From this point HSBC Turkey started to be crazy with foreigners.
 
What nonsense are you talking about? Have you looked the Tier-1 capital ratio of these banks up? The history? Etc.

You clearly have zero experience in Private Banking.
 
Martin Everson said:






Standard Chartered. Just apply online.



https://www.sc.com/sg/international-banking/



Citibank Same.



https://www1.ipb.citibank.com.sg/en/citigold/apply-online





P.S $200k is fine if you got further income coming. Always say your opening to invest even if your not.

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What about other banks like OCBC, DBS?



1. Can I open an account with USD 100,000 deposit?

2. Can I open an account on a company BVI/Nevis where I am a sole shareholder/director?

3. Can I open an account on Nevis foundarion in Singapore?



Thank you!
 
Offshr said:






What about other banks like OCBC, DBS?



1. Can I open an account with USD 100,000 deposit?

2. Can I open an account on a company BVI/Nevis where I am a sole shareholder/director?

3. Can I open an account on Nevis foundarion in Singapore?



Thank you!

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You can, but you need more money for them to be willing to accept you.



Also you don’t need a foundation for that amount.
 
Offshr said:






What about other banks like OCBC, DBS?



1. Can I open an account with USD 100,000 deposit?

2. Can I open an account on a company BVI/Nevis where I am a sole shareholder/director?

3. Can I open an account on Nevis foundarion in Singapore?



Thank you!

Click to expand...

1. Depends on citizenship and residence. 100,000 might be on the lower end of the scale.

2. Depends on how much money you're bringing and the risk profile of the company.

3. Depends on how much money you're bringing and the risk profile of the foundation.



Very few banks will rule you out based on just the jurisdiction and type of entity. However, you have much more of an uphill battle if your company is incorporated in a typical tax haven and secrecy jurisdiction like BVI or Nevis. You need strong redeeming qualities.
 
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