Tag Archives: Singapore

Finance

Standard chartered ”creating more finance jobs in Singapore”

Standard Chartered is continuing to create jobs, after adding 7,000 new recruits to its workforce so far this year, it has been reported. According to Bloomberg, the financial services provider is hoping to add 2,000 finance jobs in Singapore to its operations by 2012, while it also hopes to boost its staff numbers in India by 2,500.

Finance director Richard Meddings said the business has built up a “good momentum” in terms of recruitment and is continuing to hire. However, he added that this pace may slow down during the fourth quarter as this is a period when it is traditionally difficult to attract new employees, who may be waiting for a bonus to come through from their current employer. Mr Meddings claimed that the new bank tax introduced in the UK by chancellor George Osborne will not have a significant impact on the firm and was “broadly in line” with its expectations.”As an international bank in over 70 markets it’s really important there is real global co-ordination of banking taxes and banking regulation,” he explained.

 

The growth of the financial sector has spur the demand for high quality graduate education and specialised Master Degree. Aventis School of Management, Singapore collaborates with Baruch College, The City University of New York to offer a suite of Executive Masters and graduate diploma in finance which is aligned to the Chartered Financial Analyst (CFA) curriculum, cater to meet the growing demand for finance professionals in the sector.

INTERNATIONAL RECOGNITION

Baruch College, The City University of New York Executive Master of Science in Finance program combines tradition and innovation and theory and practice to prepare thought leaders for careers in finance. Taught by a team of internationally renowned experts from New York, the heart of the global financial system, this program is widely regarded as the pre-eminent finance program in the world.The City University of New York MSc Finance program is the only

1) AACSB Accredited MSc program in Singapore – Hallmark of an internationally recognized Graduate Education

2) Listed by both Financial Times and Business Week 2009 Ranking

3) Recognised by both CFA institute for curriculum integration with the CFA program and American Academy of Financial Management (AAFM)

4) Ranked Top 100 Business School in the World for Economics & Business by Shanghai Jiao Tong University World Universities Ranking 2010

Singapore´s status as a global financial center has undergone dramatic changes over the past few years, with reputable international financial institutions, including Credit Sussie, UBS, HSBC, and ABN Amro, expanding their operations here

Banking

Why Singapore Is The Ideal Offshore Banking Destination

One of the safest options available for your money today is Singapore offshore banking. But why choose Singapore rather than other popular options for offshore accounts? The answer is found in the important aspects of the country’s efficient taxation rates, high global reputation and banking laws. Singapore boasts tax rates that are among the lowest of any Asian countries. As early as five years ago, laws in Singapore were changed in order to protect any financial gains made from investments in the country from being taxed. This has considerably increased the amount of business, and investment, in Singapore.

Offshore banking in Singapore has other advantages as well. All major players in today’s global marketplace have been attracted to participate and this is by reason of Singapore offshore banking. Financial service companies ranging from the largest international consumer banking groups to small niche investment funds have made their presence known in Singapore. So you are among good company when you decide to invest in Singapore’s banking sector. A handful of options is available to you, whether you want to open a personal account or whether you are only strictly doing business in the country and you need to open a Singapore corporate bank account.

Although Europeans choose to bank in Singapore, Asian companies and individuals, by reason of the geographical set up, find it convenient to do Singapore offshore banking. Generally, the trend of the global economy for the future is shifting to the East. For instance, the Chinese have increasingly started to do banking in Singapore. Reports will show that as much as 40% increase in banking activity in Singapore has occurred about six years ago, and has continued to as much as 25% increase over the recent years. Given the many advantages of a Singapore account and the worldwide trend of looking eastward for banking opportunities not available in the West, it is indeed not surprising to see this significant leap in banking numbers. Singapore is a respected global business hub with a reputation for state-of-the-art infrastructure and a high level of efficiency. Singapore meets the international standards set by the Organisation For Economic Cooperation and Development (OECD) and is not burdened by negative stigmas, sometimes placed on other offshore jurisdictions.

A Singapore offshore account enjoys the privileges of secrecy and confidentiality. Strong security laws protecting the banking industry and disclosure of bank account information are in force in Singapore. This is the reason why safety and security characterizes Singapore offshore banking.

Investors are advised to know details of the protection laws applicable to banking in Singapore and exceptions to these laws. In developing the most appropriate solutions for your personal or business objectives, every investor may find it useful to engage the services of an experienced corporate service provider.

Asiabizservices is the leading Singapore Offshore Company Incorporation Specialists. It has successfully helped thousands of foreign entrepreneurs incorporate a Singapore company. Our office is located at Raffles Place, in the heart of the Singapore business district. (“CBD”) If you’re in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours.

Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions. If you are interested in learning more about Asiabizservices kindly email us at sales@asiabizservices.com or give us a call at +6563034614.

Banking

Why Singapore Is The Ideal Offshore Banking Destination

One of the safest options available for your money today is Singapore offshore banking. But why choose Singapore rather than other popular options for offshore accounts? The answer is found in the important aspects of the country’s efficient taxation rates, high global reputation and banking laws. Singapore boasts tax rates that are among the lowest of any Asian countries. As early as five years ago, laws in Singapore were changed in order to protect any financial gains made from investments in the country from being taxed. This has considerably increased the amount of business, and investment, in Singapore.

Offshore banking in Singapore has other advantages as well. All major players in today’s global marketplace have been attracted to participate and this is by reason of Singapore offshore banking. Financial service companies ranging from the largest international consumer banking groups to small niche investment funds have made their presence known in Singapore. So you are among good company when you decide to invest in Singapore’s banking sector. A handful of options is available to you, whether you want to open a personal account or whether you are only strictly doing business in the country and you need to open a Singapore corporate bank account.

Although Europeans choose to bank in Singapore, Asian companies and individuals, by reason of the geographical set up, find it convenient to do Singapore offshore banking. Generally, the trend of the global economy for the future is shifting to the East. For instance, the Chinese have increasingly started to do banking in Singapore. Reports will show that as much as 40% increase in banking activity in Singapore has occurred about six years ago, and has continued to as much as 25% increase over the recent years. Given the many advantages of a Singapore account and the worldwide trend of looking eastward for banking opportunities not available in the West, it is indeed not surprising to see this significant leap in banking numbers. Singapore is a respected global business hub with a reputation for state-of-the-art infrastructure and a high level of efficiency. Singapore meets the international standards set by the Organisation For Economic Cooperation and Development (OECD) and is not burdened by negative stigmas, sometimes placed on other offshore jurisdictions.

A Singapore offshore account enjoys the privileges of secrecy and confidentiality. Strong security laws protecting the banking industry and disclosure of bank account information are in force in Singapore. This is the reason why safety and security characterizes Singapore offshore banking.

Investors are advised to know details of the protection laws applicable to banking in Singapore and exceptions to these laws. In developing the most appropriate solutions for your personal or business objectives, every investor may find it useful to engage the services of an experienced corporate service provider.

Asiabizservices is the leading Singapore Offshore Company Incorporation Specialists. It has successfully helped thousands of foreign entrepreneurs incorporate a Singapore company. Our office is located at Raffles Place, in the heart of the Singapore business district. (“CBD”) If you’re in our neighborhood and want to discuss any aspect of our service then feel free to come in to our offices during business hours.

Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of y

Finance

London School of Business & Finance in Singapore

 

London School of Business & Finance (LSBF) – a leading business education provider in the UK – has recently opened its institute in Singapore. Different programmes including Preparatory Course for ACCA and a wide range of English courses are aimed to deliver innovative, industry-relevant business education.

Professional Education

LSBF is the number one destination of choice for perspective ACCA students in the UK. LSBF in Singapore is working towards the same objective as that in the UK. Highly-qualified tutors with years of practical and theoretical experience are happy to impart their knowledge with students, while modern facilities and flexible study arrangements aim to strive students for their success.

LSBF ACCA course in Singapore includes mock examinations, so that students can practise their time management and exam technique in full. Moreover, LSBF in Singapore also offers its students access to the entire studio-recorded ACCA syllabus in HD-video recordings of international variant (except for F4, F6 and P6 papers). HD-quality lectures give the access to the studio-recorded ACCA lectures anytime and anywhere in the world!

In addition, ACCA students in Singapore can also claim a Free Practical Skill Certificate in one of the following specialties:

Financial Modelling
Islamic Finance
Risk Management
Sage ERP Accpac

Being available in full time, part time and online study modes*, ACCA classes at LSBF in Singapore gives unprecedented freedom and flexibility to study.

English Programmes

English is one of the world’s most popular languages. In fact, English is a new lingua franca in the business world. LSBF in Singapore offers a wide choice of English courses to suit all needs and abilities of its students:

English Short Courses : Conversational English, and  Business English
Preparatory Course for IELTS
General English Programmes
Business English Programmes

Whether students need to enhance their speaking or writing skills, improve their CVs, or simply refresh English vocabulary, LSBF in Singapore is ready to help.

LSBF in Singapore – shaping success in business and finance!

 

*Online study is available on InterActive, offered and supported by LSBF in the UK.

For further information on ACCA classes  visit our site www.lsbf.edu.sg 

Banking

Singapore Banking After Your Singapore Incorporation

After your Singapore incorporation you will want to address your banking needs. There are several important things to know about the Singapore banking industry. This knowledge will make it easier for you to open your corporate bank accounts and personal bank accounts.

Personal Banking
Do not forget that you will need a personal bank account in the country of Singapore. This will make it possible for you to get cash and provide for all of your personal needs like paying bills and shopping.

Residency Requirements
You do not need any special residency qualifications to open a Singapore personal bank account. Citizens, work pass holders, and foreigners may open an account.
Residents will only need an application form, proof of address and an official ID. If you are entering from another country you will need to present your passport and a visa (if you are required to have one). You will also need proof of your current address.

Selections
You may wish to apply at local banks like UOB and DBS. There are several foreign banks like
Citibank and HSBC that you may wish to use.

Corporate Banking
In most cases, you will need to be present when you open your account, after your incorporation in Singapore. It may not be possible to do this from overseas. Your company officials may also need to be present.

However, there may be cases that exceptions can be made. If you cannot be there for legitimate reason and your signature is notarized, you still may be able to open a corporate bank account.

Minimum Balances
In most cases, you will need to have a minimum balance of at least S$ 10,000 with most local banks. If not, you may incur charges up to S$ 50 or more. With foreign banks, you can expect to see much higher minimum balance requirements. Some may be as high as S$ 50,000.

Offshore Companies
After you incorporate an offshore company you will need more extensive proof to open a corporate bank account. This is due to the “know your client” policies. Here is information that you may be required to have.

1. You may need to explain the source of the money that you are depositing. In other words, where does it come from? Company profits?
2. You may be required to give a great deal information about beneficiaries on the account.
3. You might have to present proof of your business activities and the customers that you serve.
4. Letters of reference from other banks may also be necessary.
5. You may need to present proof of “beneficial ownership”. Beneficial ownership means that you may own shares in a company. It denoted having the benefits of owning something without having physical ownership. This term is often used in businesses.
6. Requirements may vary from bank to bank.

You may also be able to open a corporate bank account at the time of your Singapore incorporation. Make sure that you contact the bank ahead of time.

Summary
Make sure that you know something about the Singapore banking industry before you incorporate in Singapore. It is good to know what is needed and what is expected of you. This will make the process much easier and smoother.

SingaporeStartup.com is a general information portal about Singapore incorporation. If you want to know more about Setting up a Singapore company , Singapore branch office registration, Singapore subsidiary formation, Singapore taxation and Singapore company incorporation, visit http://www.singaporestartup.com

Banking

Singapore Banking and Your Singapore Incorporation

After your Singapore incorporation you will want to address your banking needs. There are several important things to know about the Singapore banking industry. This knowledge will make it easier for you to open your corporate bank accounts and personal bank accounts.

Personal Banking

Do not forget that you will need a personal bank account in the country of Singapore. This will make it possible for you to get cash and provide for all of your personal needs like paying bills and shopping.

Residency Requirements

You do not need any special residency qualifications to open a Singapore personal bank account. Citizens, work pass holders, and foreigners may open an account.

Residents will only need an application form, proof of address and an official ID. If you are entering from another country you will need to present your passport and a visa (if you are required to have one).  You will also need proof of your current address.

Selections

You may wish to apply at local banks like UOB and DBS. There are several foreign banks like
Citibank and HSBC that you may wish to use.

Corporate Banking

In most cases, you will need to be present when you open your account, after your incorporation in Singapore. It may not be possible to do this from overseas. Your company officials may also need to be present.

However, there may be cases that exceptions can be made. If you cannot be there for legitimate reason and your signature is notarized, you still may be able to open a corporate bank account.

Minimum Balances

In most cases, you will need to have a minimum balance of at least S$ 10,000 with most local banks. If not, you may incur charges up to S$ 50 or more. With foreign banks, you can expect to see much higher minimum balance requirements. Some may be as high as S$ 50,000.

Offshore Companies

After you incorporate an offshore company you will need more extensive proof to open a corporate bank account. This is due to the “know your client” policies. Here is information that you may be required to have.

1. You may need to explain the source of the money that you are depositing. In other words, where does it come from? Company profits?
2. You may be required to give a great deal information about beneficiaries on the account.
3. You might have to present proof of your business activities and the customers that you serve.
4. Letters of reference from other banks may also be necessary.
5. You may need to present proof of “beneficial ownership”. Beneficial ownership means that you may own shares in a company. It denoted having the benefits of owning something without having physical ownership. This term is often used in businesses.
6. Requirements may vary from bank to bank.

You may also be able to open a corporate bank account at the time of your Singapore incorporation.  Make sure that you contact the bank ahead of time.

Summary
Make sure that you know something about the Singapore banking industry before you incorporate in Singapore. It is good to know what is needed and what is expected of you. This will make the process much easier and smoother.

SingaporeStartup.com is a general information portal designed to assist people with learning the basic of starting and doing business in Singapore. If you want to know more about Singapore incorporation , Singapore branch office registration, Singapore subsidiary formation, Singapore Offshore company, Singapore taxation and Singapore company registration, visit http://www.singaporestartup.com