Scaling into Southeast Asia

Five banks worth shortlisting

Pick your bank by where you will trade next.

Bank	Regional footprint	Foreign-owned company	Good for
DBS	SG, HK, ID, IN, TW, China	Accepted, full KYC on owners	Local payments and digital banking
OCBC	SG, MY, ID, Greater China	Accepted, full KYC on owners	SME lending, Malaysia and Indonesia links
UOB	SG, MY, TH, ID, VN	Accepted, full KYC on owners	Broad ASEAN branch network
HSBC	Global, including Australia	Ask your Australian relationship manager for a referral	Moving money between AU and SG entities
Standard Chartered	Asia, Middle East, Africa	Accepted, full KYC on owners	Trade finance across several markets

Indicative only. Requirements change often, so confirm with each bank.

Payment accounts open in days, not weeks

Fully online and strong on multi-currency. Built for trading from week one. All four hold MAS payment licences. They are not banks, so balances are not covered by SDIC deposit insurance.

Airwallex

Founded in Melbourne. Multi-currency accounts and cards. If you use it in Australia, ask about adding your Singapore entity.

Aspire

Built in Singapore for startups. Business account, corporate cards and expense tools.

Wise

Mid-market FX rate and low-cost payments to overseas suppliers and contractors.

Revolut

Multi-currency account with cards and spend controls. Plans are tiered by monthly fee.

Build one KYC pack for every bank

Every bank and payment provider asks for the same three things.

Six things every Singapore Pte Ltd needs

1. 01

   Local director

   At least one director ordinarily resident in Singapore. No one yet? Use a nominee director service.

2. 02

   Company secretary

   Appointed within six months and resident in Singapore. A sole director cannot also be the secretary.

3. 03

   Registered address

   A Singapore address where records are kept. Most corporate secretaries can provide one.

4. 04

   Shareholders and capital

   One shareholder is enough, and it can be your Australian company. Paid-up capital can start at S$1.

5. 05

   Controllers register

   Keep a register of registrable controllers and lodge it with ACRA.

6. 06

   Annual filings

   Annual return to ACRA, and corporate tax filings to IRAS.

Corporate secretary: traditional firm or digital?

Digital suits simple setups. A traditional firm gets you expert advice sooner.

Beyond Singapore: what changes by market

Each market has its own ownership and licensing rules.

Beyond Southeast Asia

The other big Asia Pacific markets set their own ownership and licensing rules.

Six rules apply from your first hire

What every Singapore employer needs to know before the first contract.

Singapore's rules stop at the border

Each market runs its own labour law, contributions and work permits.

Hiring rules beyond Southeast Asia

Three ways to make your first hire

Speed and control trade off against each other.

Employer of Record platforms named in the deck

First direct hire checklist

For a hire through your own Singapore entity. An Employer of Record handles most of this.

1. 01Choose the route: EoR, contractor or direct
2. 02Register with the CPF Board as an employer
3. 03Issue a contract with the key employment terms
4. 04Set up payroll with itemised payslips
5. 05Buy work injury insurance where WICA requires it
6. 06Apply for the work pass if the hire needs one
7. 07Submit employee income records to IRAS each year
8. 08Put leave, medical and termination terms in a handbook

A partner for every step of the move

Grouped by what you need. Find them on the night, or ask the Zavior and 8 Circle crew.

How to test an industry partner before you sign

Prove the partner can sell before you give anything away.

1. 01

   Map the market. List who already sells to your buyer.

2. 02

   Start small. Run one joint deal or pilot first.

3. 03

   Agree ownership. Settle who owns the customer, data and IP.

4. 04

   Limit exclusivity. Tie it to targets and a time limit.

5. 05

   Review at 90 days. Keep it, fix it or exit.

Be wary of any partner asking for long exclusivity before a single joint deal.

Your first 90 days

An example plan. Timing depends mostly on bank onboarding.

Hiring and accounting

• TalentHero

  They hire and employ people in other countries. The work covers employer of record, payroll, and recruitment.

• SOAS

  A Singapore accounting firm. Incorporation, bookkeeping, corporate secretarial work, and filings with IRAS.

• Automa8e

  Accounting software built for Singapore. Bookkeeping, invoices, GST, and corporate tax in one system.

Security, compliance, and the network

• Cybergiene

  Digital safety for people and small businesses, from Sydney. Practical cyber hygiene, not an enterprise security stack.

• Zavior

  A cyber security and compliance platform for Singapore companies. Co-organiser of this tour.

• Singapore Global Network

  Part of the Singapore government. It connects people and companies overseas to opportunities in Singapore.

Travel, research, and software

• Bliink

  Corporate travel booking. The company policy is applied before anyone sees a flight or a hotel.

• Alylytiq

  Market research in Singapore. Brand, customer, and competitor studies for companies that are not the size of a multinational.

Operations and community

• ShiftControl

  IT operations for teams on Google Workspace. Access, the apps people use, and security, without a full IT team.

• AsiaX Circle

  A Melbourne community for Asian emerging leaders. Events, and introductions that are not a cold email.

• Cremorne Digital Hub

  Melbourne's precinct for founders and industry. Workspace, programmes, and the people around Cremorne.

Capital and finance

• Aspire

  A business account for companies in Singapore and across the region. Multi-currency accounts, cards, and payments.

• Antler

  A venture firm that starts with the founder. Day-zero residencies, including Australia and Singapore.

Market access, localisation and brand

• Haymarket HQ

  A coworking and startup hub in Sydney's Chinatown. Helps companies land in Australia and grow across Asia Pacific.

• Hyperlocalise

  An AI-native platform for multilingual content. Localise your product and marketing for each new market.

• PIQUANT

  A brand strategy and design firm based in Singapore. Helps you position your brand for a new market.