Case: 

The client holds St. Kitts passport and Zambian tax number as he has business running in Zambia. Wished to allocate his asset from Zambia, as he has concern for the safety of his assets.

Brief Facts: 

Client wanted to start a Singapore corporate account at the beginning, it is mainly because the Singapore government has not set up any foreign exchange policy, and wire transfer has no upper limit, which allows his company has better cash flow.

Our Approach: 

Our consultant suggested client to first open a personal account, as the personal account has required less documents and supporting documents. It also serves a purpose of making corporate account set up easier, as the bank conducts tough due diligence on foreign companies (especially for Zambia).

Result: 

With the processing time of 2 weeks, GLOBEVISA has completed the personal account set up for the client. And document preparation team has submitted client’s company KYC to bank manager at the same time for pre-approval, so corporate account application would go smoothly after the personal account set up. At the end, his corporate account was prepared with an extra 2 weeks time.