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Statrys says its Singapore business account has no monthly fee, no account opening fee and no initial deposit. FX starts from 0.1%. Unlike most providers, it also publishes a list of businesses and countries it excludes, which is the useful part to read first. It gives two different opening times, 48 hours and a few days.
Statrys is not us. SingaporeCompanySetupGuide.com is an independent guide, not a provider. The quote form passes your request to firms that fit your case, and some pay us a referral fee.
What is Statrys, in the way it describes itself?
Statrys sells what it calls an ABC model: accounting, a business account and corporate services. On its Singapore page the business account supports 11 currencies, with FX from 0.1%, and links to Xero, Stripe, PayPal and Shopify Payments. Funds are described as segregated from Statrys's own money with custodian banks.
You can buy one piece or all three. That is a different shape from a bank, where the account stands alone.
What does the account cost?
Read on :
| Item | Statrys publishes |
|---|---|
| Monthly fee | None |
| Account opening fee | None |
| Initial deposit | None |
| FX | From 0.1% |
| Currencies | 11 |
| Application | 100% online |
The FX rate is a floor, shown as "from". Ask for the rate on your own currency pair and monthly volume. Fees for transfers and cards sit on pages this guide did not read, so they are not shown.
Who will Statrys not serve?
This is the section no other provider page here matches. Statrys publishes restrictions.
Industries it excludes: cryptocurrency, gambling, money services businesses, unregulated financial services and other high-risk sectors.
Countries: it says customers cannot be based in or have significant ties to Afghanistan, Iran, North Korea, Russia, Syria, Venezuela and about 30 other listed jurisdictions.
United States: US citizens, US residents and any company with more than 10% US shareholding cannot apply.
If your company has a US co-founder holding 15%, you are out on Statrys's own terms. Reading the list before you apply saves a wasted application.
How long does it take?
Statrys's home page says the business account opens within 48 hours, with the full setup done in under a week. The Singapore account page says "a few days". The two figures are not the same. A few days is the safer assumption for a payment due on a fixed date.
What do the corporate services include?
Statrys lists remote incorporation in 5 days at most, annual returns and AGM handling, a registered address in the central business district and online record access. A bundle like this may save you from dealing with several firms. It also puts the company, the address and the account with one provider.
That choice has a trade-off: if you leave Statrys, you may need to move your registered address and records too. Our page on a registered address explains what changes when the address changes. For a view of the wider provider market, see corporate service providers and the steps for company incorporation.
What is not published?
- Which documents Statrys asks for, on the pages read.
- Fees beyond FX for transfers and cards.
- Whether a director who lives abroad is treated differently, apart from the country list.
- Approval odds. Nobody can state one fairly.
Who might look at Statrys?
A company that wants to set up and bank in one place, does not trade in an excluded sector and has no US ownership. A company with owners in a listed country, or one that needs a bank licence, should look elsewhere: Wise and Airwallex work differently, and the general bank account page covers what banks ask.
Want a provider to compare bundles with you? Use the quote form on this page and mention where the owners live.
What should you ask Statrys before you apply?
Ask for the full document list for your company type and owners. Ask for the actual FX rate on the pairs you use, and the fee for each payment route. Ask what happens to the address and records if you leave. Ask whether the 48 hour or the few days figure applies to a company with directors outside Singapore.
Also check your ownership against the US shareholding line and the country list before you pay for anything else. Those are binary filters, and they are the quickest way to learn whether this provider is open to you.
Sources
- Statrys: Singapore home: services, 48 hour opening, bundle.
- Statrys: Singapore business account: fees, currencies, restrictions, timing.
