{"id":31634,"date":"2024-04-22T07:03:51","date_gmt":"2024-04-22T07:03:51","guid":{"rendered":"https:\/\/www.worldfirst.com\/sg\/?p=31634"},"modified":"2024-09-11T09:17:26","modified_gmt":"2024-09-11T09:17:26","slug":"expand-in-new-markets-business-account-local-entity","status":"publish","type":"post","link":"https:\/\/www.worldfirst.com\/sg\/insight\/business-expansion\/expand-in-new-markets-business-account-local-entity\/","title":{"rendered":"Expand in new markets | WorldFirst business accounts for local entities"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"31634\" class=\"elementor elementor-31634\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5907bece e-flex e-con-boxed e-con e-parent\" data-id=\"5907bece\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-344bf00 elementor-widget elementor-widget-text-editor\" data-id=\"344bf00\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><a class=\"x-crumbs-link\" href=\"https:\/\/www.worldfirst.com\/sg\/\">Home<\/a>\u00a0 &gt;\u00a0 <a href=\"https:\/\/www.worldfirst.com\/sg\/insight\/\">Insights from WorldFirst<\/a>\u00a0 &gt;\u00a0 <a href=\"https:\/\/www.worldfirst.com\/sg\/insight\/business-expansion\">Business Expansion<\/a><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1baab11a e-flex e-con-boxed e-con e-parent\" data-id=\"1baab11a\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3d3cae0 e-flex e-con-boxed e-con e-parent\" data-id=\"3d3cae0\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-046b70f elementor-widget elementor-widget-text-editor\" data-id=\"046b70f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h3 style=\"text-align: center;\">Simplify international expansion: WorldFirst business accounts for local entities<\/h3>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4475a669 elementor-widget elementor-widget-text-editor\" data-id=\"4475a669\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p style=\"text-align: center;\">Thinking of setting up a local entity or subsidiary? You\u2019ll need a local bank account for that. Here\u2019s how we can help.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1b1e95c0 e-flex e-con-boxed e-con e-parent\" data-id=\"1b1e95c0\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-47b95415 elementor-widget elementor-widget-theme-post-featured-image elementor-widget-image\" data-id=\"47b95415\" data-element_type=\"widget\" data-widget_type=\"theme-post-featured-image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"476\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/04\/20240422064901201.jpg\" class=\"attachment-large size-large wp-image-31635\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/04\/20240422064901201.jpg 900w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/04\/20240422064901201-300x179.jpg 300w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/04\/20240422064901201-768x457.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2884a28b e-flex e-con-boxed e-con e-parent\" data-id=\"2884a28b\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-46714d1e elementor-widget elementor-widget-text-editor\" data-id=\"46714d1e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>When it comes to expanding your business across the globe, you want to find ways that are both cost effective whilst allowing your business to remain as agile as possible. At first, you may have started out simply exporting and selling your goods or services abroad. But, as your business grows, you might want to seriously consider the possibility of setting up an entity in each country you want to do business in.<\/p><h4><strong>What is a local entity?<\/strong><\/h4><p>It can go by various names: a local, foreign, or international entity or subsidiary. But they all mean the same thing. Essentially, this is when you set up your business in a separate country or jurisdiction from where your parent company is. For instance, setting up a local entity in China which is separate from your parent company in Singapore.<\/p><p>\u00a0<\/p><h4><strong>The advantages of setting up a local entity<\/strong><\/h4><h5><strong>1. Better brand reputation and protection<\/strong><\/h5><p>When your brand is registered as an entity in the country you\u2019re doing business in, it gives you more credibility which can help in various ways, such as:<\/p><ul><li>Partnering with local suppliers or vendors<\/li><li>Selling to your end customers<\/li><li>Dealing with local and governmental departments<\/li><\/ul><p>People are more likely to feel like they can trust a brand that has to comply with local laws and regulations \u2013 ones that everyone\u2019s already familiar with. It also makes it easier to protect the intellectual property of your brand by registering your trademark locally.<\/p><h5><strong>2. Save money thanks to tax benefits and loans<\/strong><\/h5><p>As a local entity, you\u2019ll be treated separately from your parent company. Tax law looks at the profit your business has made but, as a local entity, there are more expenses that you\u2019ll be able to deduct. These include operational expenses such as salaries, office space, supplies, travel costs and so on. The more you can claim, the more it reduces your tax liability. And, as a local entity, there may be subsidies, grants or loans that your business qualifies for, which it may not as an international or foreign business.<\/p><h5><strong>3. Local laws and licenses<\/strong><\/h5><p>Adhering to local laws has its benefits. It generally gives you more control and autonomy over your business when it comes to things like exporting or importing, hiring and HR. It is also the case that you may need to be a local entity in order to get certain licenses or protection, like when it comes to insurance.<\/p><p>\u00a0<\/p><h4><strong>The downsides of setting up a local entity<\/strong><\/h4><h5><strong>1. It can be costly and time-consuming<\/strong><\/h5><p>Setting up a local entity has never been quick and it takes patience and planning. The whole process is likely to take months and as regulation increases, so too does the paperwork and the time it takes for all that admin. Plus, most of this has to be done by the director of the company, so it does take time away from people at the top. You\u2019ll also have to factor in the costs of setting up a business, such as professional fees for licenses, filing, notaries and more.<\/p><h5><strong>2. Complying with local laws can be challenging to figure out<\/strong><\/h5><p>When you have a business in any country, you have to abide by local laws and regulations. And they never remain static, which means you have to invest time and resources in staying up to date on the latest rules, making sure you\u2019re always compliant so nothing interferes with your business operations \u2013 or you could find yourself facing hefty penalties or fines.<\/p><h5><strong>3. Setting up a local business bank account can be a hassle<\/strong><\/h5><p>In order to establish a local entity, you\u2019ll need a business bank account in the country you\u2019re setting up in. And\u00a0<a href=\"https:\/\/www.lexology.com\/library\/detail.aspx?g=0de14a0b-be3e-4ae2-8c70-1c33bc6d51c9\">this is the first hurdle<\/a>. As a new business, you won\u2019t have much credit history and that can slow down the process. Banks will need to check your background thoroughly to ensure you\u2019re low-risk, and might even reject your application because of your new company\u2019s lack of history in the country.<\/p><p>But it\u2019s not just opening the account that you have to think about \u2013 it\u2019s managing it all, along with multiple logins and platforms to navigate. Here\u2019s where we can help you.<\/p><p><strong>\u2192 I already have a business bank account for my local entity<\/strong><\/p><p>Congratulations \u2013 we know it\u2019s often a headache to set one up. But if you want to see and manage everything in one place, you can create a World Account with WorldFirst. When you open a World Account, you can set up and manage local currency accounts \u2013 and view them all in one place. This means you can easily see your account balances in various currencies with a single login, so you get a better idea of how your business is doing. And, with all your funds aggregated in one place, it also makes reconciliation a lot simpler.<\/p><p>A World Account can also integrate with accounting software such as\u00a0<a href=\"https:\/\/www.worldfirst.com\/uk\/xero-integration\/\">Xero<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.worldfirst.com\/uk\/insights\/worldfirst-netsuite-improve-productivity\/\">NetSuite<\/a>. You can also use our open API to plug into your own in-house Enterprise Resource Planning (ERP) tool and we\u2019ll send all the information it needs.<\/p><p><strong>\u2192 I need to set up a local business bank account<\/strong><\/p><p>It\u2019s a hassle to do but you can avoid it altogether with a World Account from WorldFirst. We can give you a local business account, saving you the headache of having to set up an account with a traditional bank. So you can enjoy:<\/p><ul><li>A fully digital onboarding process, where you don\u2019t have to visit a bank branch<\/li><li>Being able to open a World Account for your local entity in 40+ countries<\/li><li>One login for all your accounts<\/li><li>A simple way to review, reconcile, and manage your funds<\/li><li>Instant, fee-free transfers between all your World Accounts<\/li><\/ul><p>We\u2019re always expanding the countries we can support your business in but, for now, we can help you in: Australia, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, the UK, the USA, and Vietnam.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3a2ec0c e-flex e-con-boxed e-con e-parent\" data-id=\"3a2ec0c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-80b478c elementor-widget elementor-widget-template\" data-id=\"80b478c\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"34630\" class=\"elementor elementor-34630\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-352da6a4 e-con-full e-flex e-con e-parent\" data-id=\"352da6a4\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-1f99343c e-flex e-con-boxed e-con e-child\" data-id=\"1f99343c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-78aa4a86 elementor-widget elementor-widget-heading\" data-id=\"78aa4a86\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 15-07-2024 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><div class=\"elementor-heading-title elementor-size-default\">Open a World Account for free<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2df4c1bf elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"2df4c1bf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Open 20+ local currency accounts and get paid like a local<\/li><li>Pay suppliers, partners and staff worldwide in 100+ currencies<\/li><li>Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify<\/li><li>Save with competitive exchange rates on currency conversions and transfers<\/li><li>Lock in exchange rates for up to 24 months for cash flow certainty<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b7ec24a elementor-widget elementor-widget-button\" data-id=\"6b7ec24a\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/portal.worldfirst.com\/login?region=SG&#038;lang=en-GB\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get started<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3b738eb e-flex e-con-boxed e-con e-parent\" data-id=\"3b738eb\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4fbac88 e-con-full e-flex e-con e-parent\" data-id=\"4fbac88\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0d67fdf elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"0d67fdf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h3 style=\"text-align: center;\">Perks of a World Account<\/h3>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-198410c e-con-full e-flex e-con e-parent\" data-id=\"198410c\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-63ecccb elementor-widget elementor-widget-text-editor\" data-id=\"63ecccb\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"x-text x-content e9374-e24 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\" style=\"text-align: center;\"><strong>Get paid like a local<\/strong><\/div><div class=\"x-text x-content e9374-e25 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\">Open local currency accounts in 11+ currencies for free<\/div><div>\u00a0<\/div><div>\u00a0<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-386dfdc elementor-widget elementor-widget-text-editor\" data-id=\"386dfdc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"x-text x-content e9374-e24 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\" style=\"text-align: center;\"><div class=\"x-text x-content e9374-e33 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\"><strong>Team up but stay in charge<\/strong><\/div><div class=\"x-text x-content e9374-e34 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\">Add unlimited team members and customise the level of access for each colleague<\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6c2ec27 e-con-full e-flex e-con e-parent\" data-id=\"6c2ec27\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-72cdba3 elementor-widget elementor-widget-text-editor\" data-id=\"72cdba3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"x-text x-content e9374-e27 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\" style=\"text-align: center;\"><strong>Fast and easy payments to China<\/strong><\/div><div class=\"x-text x-content e9374-e28 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\">Pay suppliers in China in CNH, or those in Hong Kong in USD or HKD on the same day<\/div><div>\u00a0<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4dc00b3 elementor-widget elementor-widget-text-editor\" data-id=\"4dc00b3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"x-text x-content e9374-e27 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\" style=\"text-align: center;\"><div class=\"x-text x-content e9374-e36 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\"><strong>A world of opportunity<\/strong><\/div><div class=\"x-text x-content e9374-e37 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\">Connect to 100+ global marketplaces and payment gateways<\/div><\/div><div>\u00a0<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fa6e6d1 e-con-full e-flex e-con e-parent\" data-id=\"fa6e6d1\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7a61a4c elementor-widget elementor-widget-text-editor\" data-id=\"7a61a4c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"x-text x-content e9374-e30 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\" style=\"text-align: center;\"><strong>Manage currency risk<\/strong><\/div><div class=\"x-text x-content e9374-e31 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\">Convert at today\u2019s rate, a targeted one, or lock it in for up to 24 months<\/div><div>\u00a0<\/div><div>\u00a0<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0451b7a elementor-widget elementor-widget-text-editor\" data-id=\"0451b7a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"x-text x-content e9374-e30 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\" style=\"text-align: center;\"><div class=\"x-text x-content e9374-e33 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\"><div class=\"x-text x-content e9374-e39 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\"><strong>More time, less work<\/strong><\/div><div class=\"x-text x-content e9374-e40 m78e-13 m78e-14 m78e-1g m78e-1m m78e-1n\">Integrate your World Account with Xero or NetSuite and let them do the accounting and reports for you<\/div><\/div><\/div><div>\u00a0<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f9270ed e-flex e-con-boxed e-con e-parent\" data-id=\"f9270ed\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-be1de73 elementor-widget elementor-widget-text-editor\" data-id=\"be1de73\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div>\u00a0<\/div><div>\u00a0<\/div><div class=\"x-text x-content e9374-e41 m78e-13 m78e-19 m78e-1a m78e-1b m78e-1d m78e-1e m78e-1f m78e-1g\">In the meantime, if you\u2019d like to learn more about expanding your business internationally, check out our guides\u00a0<a href=\"https:\/\/www.worldfirst.com\/sg\/insights\/\">here<\/a>.<\/div><div>\u00a0<\/div><div class=\"x-text x-content e9374-e42 m78e-13 m78e-19 m78e-1a m78e-1b m78e-1d m78e-1e m78e-1f m78e-1g\">This advertisement has not been reviewed by the Monetary Authority of Singapore.<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2451136 elementor-widget elementor-widget-image\" data-id=\"2451136\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"160\" height=\"160\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/03\/20240327031331810.png\" class=\"attachment-large size-large wp-image-31193\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/03\/20240327031331810.png 160w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/03\/20240327031331810-150x150.png 150w\" sizes=\"(max-width: 160px) 100vw, 160px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a15de51 elementor-widget elementor-widget-heading\" data-id=\"a15de51\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">WorldFirst<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-62062fca e-flex e-con-boxed e-con e-parent\" data-id=\"62062fca\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-42a47018 e-con-full e-flex e-con e-parent\" data-id=\"42a47018\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a0656f5 elementor-widget elementor-widget-shortcode\" data-id=\"a0656f5\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\"><div class=\"blogs_container\">\n                    <div class=\"blogs_item\">\n            <a href=\"https:\/\/www.worldfirst.com\/sg\/insight\/business-expansion\/open-business-bank-account\/\" class=\"blog_img_box\">\n                <img decoding=\"async\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2025\/05\/20250519152345296-scaled.jpg\"\n                     alt=\"cover_img\" class=\"cover_img\" loading=\"lazy\">\n            <\/a>\n            <div class=\"blog_abstract\">\n                <h1>\n                    <a href=\"https:\/\/www.worldfirst.com\/sg\/insight\/business-expansion\/open-business-bank-account\/\">How to open a business bank account online in Singapore (4 options)<\/a>\n                <\/h1>\n                <p>Want to open a business bank account online in Singapore? We go through 4 different options as well as what to look for in a business bank account.<\/p>\n                <span>May \/ 2025<\/span>\n            <\/div>\n        <\/div>\n                    <div class=\"blogs_item\">\n            <a href=\"https:\/\/www.worldfirst.com\/sg\/insight\/business-expansion\/corporate-bank-account-singapore\/\" class=\"blog_img_box\">\n                <img decoding=\"async\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2025\/05\/20250508174350208-scaled.jpg\"\n                     alt=\"cover_img\" class=\"cover_img\" loading=\"lazy\">\n            <\/a>\n            <div class=\"blog_abstract\">\n                <h1>\n                    <a href=\"https:\/\/www.worldfirst.com\/sg\/insight\/business-expansion\/corporate-bank-account-singapore\/\">Corporate bank account in Singapore: 5 options compared<\/a>\n                <\/h1>\n                <p>In this guide, we compare some of the top corporate bank accounts in Singapore, from traditional institutions, neobanks and other challengers.<\/p>\n                <span>May \/ 2025<\/span>\n            <\/div>\n        <\/div>\n                    <div class=\"blogs_item\">\n            <a href=\"https:\/\/www.worldfirst.com\/sg\/insight\/business-expansion\/expand-your-food-and-beverage-business-to-thailand\/\" class=\"blog_img_box\">\n                <img decoding=\"async\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/05\/20240530023743878.png\"\n                     alt=\"cover_img\" class=\"cover_img\" loading=\"lazy\">\n            <\/a>\n            <div class=\"blog_abstract\">\n                <h1>\n                    <a href=\"https:\/\/www.worldfirst.com\/sg\/insight\/business-expansion\/expand-your-food-and-beverage-business-to-thailand\/\">Expanding your F&amp;B business to Thailand<\/a>\n                <\/h1>\n                <p>Explore how to successfully expand your F&B or horeca business to Thailand, tapping into its vibrant market and leveraging strategic business incentives.<\/p>\n                <span>May \/ 2024<\/span>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-77d1bfbd e-grid e-con-boxed e-con e-parent\" data-id=\"77d1bfbd\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-102d948 e-flex e-con-boxed e-con e-parent\" data-id=\"102d948\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-96f5b2b elementor-widget elementor-widget-template\" data-id=\"96f5b2b\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"34633\" class=\"elementor elementor-34633\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-625cf17d e-flex e-con-boxed e-con e-parent\" data-id=\"625cf17d\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-77ed9f5f e-flex e-con-boxed e-con e-child\" data-id=\"77ed9f5f\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5b8d8d8a elementor-widget elementor-widget-heading\" data-id=\"5b8d8d8a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">You might also like<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-68e340d7 e-flex e-con-boxed e-con e-child\" data-id=\"68e340d7\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-15210e83 elementor-widget elementor-widget-button\" data-id=\"15210e83\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/sg\/insight\/online-seller\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Online seller guides<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d17a039 elementor-widget elementor-widget-button\" data-id=\"5d17a039\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/sg\/insight\/business-expansion\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Business expansion guides<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10fbcd6e elementor-widget elementor-widget-button\" data-id=\"10fbcd6e\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.worldfirst.com\/sg\/insight\/business-with-china\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Business with China guides<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-aa251c0 e-flex e-con-boxed e-con e-parent\" data-id=\"aa251c0\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-22312df elementor-widget elementor-widget-template\" data-id=\"22312df\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"34636\" class=\"elementor elementor-34636\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6e595284 e-flex e-con-boxed e-con e-parent\" data-id=\"6e595284\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5a5743c5 elementor-widget elementor-widget-heading\" data-id=\"5a5743c5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Businesses trust WorldFirst<\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3999b66f elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"3999b66f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li>Almost 1,000,000 businesses have sent USD$300B around the world with WorldFirst and its partner brands since 2004<\/li><li>Your money is safeguarded with leading financial institutions<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67c214b6 elementor-widget elementor-widget-image\" data-id=\"67c214b6\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"271\" src=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/03\/20240326104849999-1024x347.png\" class=\"attachment-large size-large wp-image-31179\" alt=\"\" srcset=\"https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/03\/20240326104849999-1024x347.png 1024w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/03\/20240326104849999-300x102.png 300w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/03\/20240326104849999-768x260.png 768w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/03\/20240326104849999-1536x520.png 1536w, https:\/\/cdn.marmot-cloud.com\/worldfirst\/sites\/9\/2024\/03\/20240326104849999.png 1920w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Home\u00a0 &gt;\u00a0 Insights from WorldFirst\u00a0 &gt;\u00a0 Business Expansion Simplify international expansion: WorldFirst business accounts for local entities Thinking of setting up a local entity or subsidiary? You\u2019ll need a local bank account for that. Here\u2019s how we can help. When it comes to expanding your business across the globe, you want to find ways that [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":31635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Expand in new markets | WorldFirst business accounts for local entities | WorldFirst SG<\/title>\n<meta name=\"description\" content=\"Discover a hassle-free way to open local business accounts in 40+ countries. 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