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Aspire, Singapore 

HistoryAspire is a Singaporean fintech company offering financial solutions for businesses. Founded in 2018, Aspire currently serves over 15,000 clients across Asia.
Account TypesCorporate bank accounts are available for opening.

Account opening with Aspire is possible for companies registered in the following countries:

Australia, Mongolia, China, New Zealand, Cook Islands, Philippines, Hong Kong, Singapore, India, South Korea, Indonesia, Sri Lanka, Japan, Taiwan, Malaysia, Thailand, Maldives, Vietnam.

Account opening is available in the following currencies:

1. USD (USD account transfer fees)
2. EUR (EUR account transfer fees)
3. SGD (SGD account transfer fees)
4. IDR (IDR account transfer fees)
5. GBP (GBP account transfer fees)
Account Opening Cost (bank rate)Free account opening.
RepresentationsSingapore, Indonesia, Thailand, Vietnam.
ManagementThrough remote account, Apple Store and Google Play apps.
Service RatesAspire offers two monthly subscription options for their services: free (for small and medium-sized enterprises) and paid (if the company has more than 100 employees, large transaction volumes, or operates in the Web3/Crypto/fund management sectors).

For SGD, USD, and IDR* accounts activation, no minimum balance is required. However, the bank recommends keeping the amount of the monthly subscription plan on balance.
*To make any transaction on the IDR account, a minimum balance of 10,000 IDR is required on the account.

Furthermore, there are no maximum balance restrictions on Aspire SGD, USD, EUR, and IDR accounts.
Account Opening DurationFrom one week.
StaffEnglish-speaking.
Credit/Debit CardsAspire provides corporate Visa/Mastercard debit cards.

For IDR accounts, only Mastercard cards are available.

Cards are available in the following formats: Physical, virtual cards, and digital wallets (Google and Apple Pay).
Other Banking ProductsExpense management (simplified claims processing and reliable expense control to optimize processes);
Payment gateways for seamless online payments;
Bulk payments – processing payment sheets or conducting multiple payments twice as fast;
and other services for your business.
Documents for Account OpeningDocuments required for opening an account for a company from Singapore

✓ Mandatory documents to provide:

1. Completed form with company information;
2. Power of attorney for account opening;
3. Passport/identity card and proof of residence of the client (account manager);
4. Passport/identity card of any registered company director;
5. Full name, nationality, country of residence, date of birth (for all directors).

✓ Additional documents:

1.Name, country of residence, nationality, and identification documents of the majority shareholder. This applies to enterprises with individual shareholders owning ≥ 25% of the company’s shares;
2.Name and identification data of the corporate shareholder. This applies to enterprises with corporate shareholders owning ≥ 25% of the company’s shares;
3. Shareholder structure diagram (for those owning ≥ 25% of the company’s shares);
4. Constitution/Founding Agreement and Company Charter.

For companies registered in Hong Kong, for example, additional documents requested include the company registration document, certificate of incorporation, NAR1 and NNC1 forms.

In general, for all companies, Aspire sets the following requirement:

If your company has corporate shareholders owning more than 25% of the shares, Aspire will request a share ownership certificate. Examples of documents accepted as a share ownership certificate:

  • Certificate of Authority;
  • Certificate of Incorporation/Registration;
  • Notarized copy of the shareholder structure.

In which languages does Aspire accept documents?

English, French, Spanish, Bahasa, Italian, Thai, Dutch, Mandarin, Vietnamese. If the documents are in another language, certified translations are accepted.
Account Opening ProcedureThe account opening process is entirely remote.

To apply for an account opening, you need:

1. Information about the company, director, founder, shareholders;
2. Corporate documents and personal documents of individuals involved in the company structure;
3. Information about the company’s business activities, including the website and anticipated turnover;
4. Online verification (selfie photograph).

Aspire also reserves the right to request additional information and documents.

To proceed with opening an account on your own – click here or contact us.

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The purpose of the initial consultation is to introduce you to our services, as well as to discuss your individual needs related to company registration (maintenance) and opening a bank account.