---
title: "Is it necessary for a Singaporean-incorporated company to open a Singapore bank account?"
description: Incorporated companies that trade in Singapore should open a local Singaporean bank account within one year of incorporation. The issued company capital must be deposited into the account within 6 months of the bank account being opened.
url: "https://xerosoftglobal.com/docs/does-a-singaporean-incorporated-company-have-to-open-a-singapore-bank-account/"
updated: "2024-01-23"
category: Business Bank Account
---

# Is it necessary for a Singaporean-incorporated company to open a Singapore bank account?

Incorporated companies that trade in Singapore should open a local Singaporean bank account within one year of incorporation. The issued company capital must be deposited into the account within 6 months of the bank account being opened.