Application documents
1. Complete registration documents for the Singapore/Hong Kong/offshore company 2. Directors' and shareholders' identity cards, passports/travel permit for Hong Kong and Macao, and bank statements for the past three months 3. Related company's registration documents and bank statements for the past six months 4. Two sets of sales contracts, supported by customs declarations, bills of lading, and bank statements showing fund transfers (bank receipts) 5. Two sets of purchase contracts, supported by VAT invoices and bank statements showing fund transfers (bank receipts) 6. KYC questionnaire
Estimated processing time
8 weeks
Channel process
1. Manager's initial review 2. Video KYC 3. Schedule witnessing 4. Await account opening
Witnessing / in-person interview arrangements
In-person witnessing in Singapore, Hong Kong, Beijing, Shanghai, Guangzhou, and Shenzhen
Transfer limit
Unlimited
Indicative counter/witnessing fees
None
After account opening
Online banking
Account information and bank fees
1. Parent company must have revenue of at least 10,000,000 USD 2. When opening an overseas account, the customer must be willing to complete KYC or open an account with Citi in mainland China at the same time 1. Average daily balance of 100,000 USD or more; if the monthly average daily balance falls below this amount, a monthly fee of 100 USD applies 2. Incoming wire transfer: free 3. Outgoing wire transfer: 20 SGD per transaction Any bank charges and account requirements (if applicable) are channel information for 2026/10 only, and are not uniform bank policies; please refer to the bank's written notice.
Service pricing
Please contact Drew at RGYS for pricing
Conflicts and limitations to note
- Channel information compiled in 2026-10; not a uniform bank policy. Refer to the bank’s written notice.