Documents for a Singapore corporate bank account: a checklist

A corporate account opening checklist is the set of documents a Singapore bank typically asks for before opening an account for a company: records that prove the entity exists and how it is governed, evidence of who may operate the account, identification for the people behind it, a picture of its ownership and business, and tax residency forms. Each bank sets its own list and may ask for more or less. What does not change is the rule behind each request, which comes mainly from MAS Notice 626. Knowing that rule helps applicants prepare a file that is complete and consistent the first time.

How to use this checklist

The tables below group typical documents into seven blocks. For each item they show why the bank asks, the rule or source behind it, who usually prepares it, and the gaps that most often cause follow-up questions. Paragraph numbers refer to Notice 626, version dated 28 March 2024.

Before collecting anything, confirm three facts. They determine how much of this list applies:

1. Where the company is incorporated. Singapore companies can often supply data electronically through Myinfo Business and ACRA. DBS states that for qualifying companies "no supporting documents are required" when details are "retrievable via government verified sources such as MyInfo or ACRA" (checked October 2026). Overseas companies usually supply certified paper or PDF records.
2. Who owns the company. Corporate shareholders, trusts or nominees in the chain add documents at every layer.
3. What the account will do. Multiple currencies, cross-border payments or large expected balances lead to more questions on business profile and source of funds.

This page lists documents; it does not provide templates. Resolutions and declarations should be drafted by the company secretary or legal adviser to match the company's constitution.

Entity documents and authority to open the account

Many banks provide their own resolution and mandate forms. Using them avoids mismatches between the company's wording and the bank's account rules.

Directors, signatories and beneficial owners

Banks may also ask about shareholders below 25% and anyone exercising control by other means, such as through a shareholders' agreement (see KYC and CDD).

Ownership and control evidence

Business profile, financials and source of wealth

These requests scale with risk, and MAS has asked banks to keep them proportionate (Circular AMLD 05/2026); applicants should still answer reasonable questions in full. See source of funds and wealth.

Tax forms: CRS and FATCA

Every entity account involves a tax residency self-certification. The forms are the bank's own, but the categories come from IRAS rules.

IRAS guidance says an Active NFE is, for example, an entity where less than 50% of gross income is passive income and less than 50% of assets produce passive income. The guidance also says an NFE has no reporting obligation to IRAS but must provide self-certifications when asked. Classification depends on facts. This site explains the categories but does not advise on how any entity should be classified; obtain tax advice in each relevant jurisdiction. Details are on the CRS and FATCA page.

Extra items for overseas companies and layered structures

Companies incorporated outside Singapore, and Singapore companies owned through several layers, usually need more documents. There is no single published standard, so the list below is indicative.

Collect documents in the order the bank needs them, and keep names, addresses and percentages identical across every form. Inconsistencies between documents cause more follow-up than missing items. The process page explains where this pack fits in the overall sequence.