Compiles the document checklist for opening an OCBC Singapore corporate account, explains key fields in the KYC questionnaire, outlines steps for passport authentication, and provides common methods for accessing encrypted emails to help business clients reduce risks of document resubmission and rejection, and shorten the account opening cycle.

This article is based on OCBC Bank's relevant guidance documents and targets clients who need to open a corporate account in Singapore, summarizing three key factors that most affect the efficiency of account opening: ① whether the documents are complete and verifiable; ② whether the KYC questionnaire is clearly explained and matches the documents; ③ whether passport verification and encrypted email communication after the video session can be completed within the specified time limit.
Key Reminder: Passport verification emails typically require completion within 14 days of receipt; if any relevant personnel fail to complete the verification, it may be necessary to switch to the CTC document plus signed form return process, significantly increasing overall time and cost.
Why do banks inquire about the necessity of opening an account in Singapore?
It is recommended to align the estimated transaction frequency and amounts with the above fee structure when completing the KYC questionnaire.
In the offshore company questionnaire, which information is most prone to errors?
Passport authentication is used to replace traditional face-to-face interviews or document CTC processes, typically conducted after video conferences, with current guidance primarily for iOS systems.
OCBC managers often send important notifications via encrypted emails, common forms include web-based one-time passwords (OTP) or attachment decryption for viewing. Regardless of the method, be sure to use Reply All to respond to the bank after reading, to ensure the process is not interrupted.
Why is information about upstream and downstream (clients/suppliers) often a risk area?
Why do nominee directors or nominee secretaries affect the account opening outcome?
How should the business description in KYC be written to pass more easily?
How should transaction amounts and frequency be estimated?