Foreigners can open priority (VIP) and private banking accounts in Singapore — in fact, high-asset priority accounts are more open to foreigners than basic savings accounts. Per banks’ public info, the big-three priority thresholds are about S$200k–350k. With the asset threshold met and KYC cleared, the process is straightforward.
💡 Lucy’s tip: Many clients open a priority account before buying — property stamp duty and down payments must flow from a Singapore account, so setting it up early saves a lot of hassle.
Priority banking thresholds (per banks’ public info)
| Bank | Service | Approx. threshold |
|---|---|---|
| DBS | Treasures | ~S$350k |
| UOB | Privilege Banking | ~S$350k |
| OCBC | Premier Banking | ~S$200k |
| Standard Chartered | Priority Banking | entry tier |
Private banking thresholds
| Bank | Approx. threshold |
|---|---|
| DBS Private Bank | from ~S$1.5M |
| Standard Chartered Priority Private | ~S$1.5M |
| Citi / JP Morgan etc. | ~US$25M |
Non-resident foreigners typically need US$2M–5M in assets, strict source-of-wealth documents, ~2–3 months processing, and often an introduction.
Documents
- Passport, proof of address
- Source of funds / wealth documents
- Purpose of the account
Summary
- Can open: yes, priority or private.
- Priority threshold: ~S$200k–350k.
- Private threshold: S$1.5M to US$25M.
- Planning to buy or manage wealth? Open a priority account first. Contact Lucy to connect with the right bank teams.
⚠️ Thresholds and policies as per each bank’s latest terms; this is general information.