About DBS Bank

The bank was founded in 1968. In 2011, the bank was recognized as the most reliable bank in Singapore, DBS Bank has 200 branches in 50 cities in Southeast Asia. According to the credit institution, the bank has 4 million customers in Singapore in this country, and 1 million in Hong Kong. DBS Bank’s rating from Moody’s is “Aa1”. According to the management of the financial institution, DBS Bank is the largest commercial bank in Southeast Asia.

DBS Group is one of the largest groups in Asia providing financial services. DBS Bank was founded in 1968 in Singapore. Currently, DBS Group includes more than 200 branches and subsidiaries operating in 16 countries.

Bank services

• operations on accounts, including remote management;
• transfers and currency transactions;
• financing and documentary operations;
• deposit and card products;
• brokerage services
• insurance
• trust management of an investment portfolio
• documentary operations
• international trade finance

Advantages

• The largest and most stable Asian bank with a credit rating of Aa1
• Ability to work with various banking tools
• Ability to work with Pay Pall

Documents required for account opening

1. Certificate of Incorporation under Apostille
2. Memorandum and Articles of Association under Apostille
3. Minutes of the shareholders on the appointment of the director
4. Power of Attorney under Apostille
5. Copy of the passport
6. Confirmation of the address of residence and all major shareholders (owning 10% or more of the voting shares of the company), persons who have the right to sign on the bank account of the company and beneficiary owners.
7. The organizational chart is required by the bank in case one of the main shareholders owning 10% or more of the company’s voting shares is a legal entity. The scheme should reflect the legal relationship between the ultimate owner of the company - a natural person and shareholders - legal entities.

All documents must be translated into English.

Additional Information

Account type:

• credit/debit cards

Rates:

• More detailed tariffs can be found on the bank’s website

Account management:

• office by fax, phone and over the Internet

Minimum balance on the account:

• Monthly account maintenance fee: 40 USD. Outgoing transfer: USD. Monthly fee for the maintenance of the DBC IDEAL system (bank-client program) is 9 USD.

Initial payment:

• 2400 USD

Terms of account opening:

• About 2 weeks.

Personal presence:

• During the interview, when opening an account with DBC Bank, the director of the company and all persons with the right to sign must be present in person. They present identity documents in the original. The presence of major shareholders and beneficial owners in the bank for the purpose of opening an account is not mandatory; it is sufficient to provide duly certified copies of identity documents.