Yes. Once your company is incorporated with ACRA, it can open a corporate bank account in Singapore. This is a separate step from incorporation, and you can choose from the local banks (such as DBS, OCBC and UOB), international banks, and a growing number of digital business accounts and payment institutions.
Banks will carry out due diligence (know-your-customer, or KYC) before opening the account. You should be ready to provide your company's incorporation documents and business profile from ACRA, the company constitution, identification and proof of address for directors, shareholders and beneficial owners, and information about the nature and expected activity of the business.
Requirements differ between providers. Some banks require directors and authorised signatories to attend in person, while others – particularly digital business accounts – allow the account to be opened remotely. Companies with foreign shareholders or higher-risk activities may face additional questions and longer onboarding.
Apexia can help you prepare a clean set of onboarding documents and point you to banking options that suit your company's profile, so account opening goes smoothly.