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How to Open a Company Bank Account in Singapore?

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How to Open a Company Bank Account in Singapore?

Starting a new company requires you to opening company bank account in Singapore. Well, if you are new to the country, then it is important that you know about the correct procedure for opening a bank account. We will walk you through the process in a few easy steps. 

After you have successfully set up your company in Singapore, you obviously need a corporate bank account to take your business forward. You can apply online for opening a company bank account. An officer will get in touch with you to assist you with opening a company account.

Things you need to have for opening a company bank account in Singapore

  • An approval from the Board of Directors of your company that specifies the signatories to the account.
  • Account opening forms duly signed by the Board of Directors and other relevant authorities.
  • A copy of the Incorporation Certificate.
  • A copy of the business profile of the company.
  • Copies of residential proof and passports of the signatories.
  • A copy of the MAA (Memorandum and Articles of Association).
  • A certificate of Incumbency that will make sure that the signatories are authorized to make transactions on behalf of the company.

You need to be physically present in Singapore for opening a  company bank account. However, in some cases, the banks might consider the documents signed in the presence of a notary or in any of their overseas branches.

How much time does it require to open a corporate bank account in Singapore?

It can take between three weeks and three months to open a corporate bank account in Singapore. It takes a longer time to process the opening of your new account if you are not physically present. 

This is because most banks follow some strict norms to comply with safety regulations. They may perform several investigations on your company before letting you open an account. The bank makes sure to take all the necessary precautions against any default of loans. Moreover, the government is also committed to stopping funding for terrorism and other dubious activities. So if you don’t have all the documents in place, it might not be easy to open a company account in Singapore.

It is better to be physically present when you are opening your first company bank account. This makes the process easier, smoother, and faster. However, if you cannot be present, make sure that you send them all the required documents so that there is no delay. So why are you waiting? Take your business forward by opening a company bank account in Singapore today.

For any help or query related to opening a bank accounting in Singapore, get in touch with the team of 3E Accounting who will help you. 3E Accounting also offers Singapore incorporation services in Singapore 

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quantum wormholes United Kingdom has potentially figured out

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United Kingdom has potentially figured out quantum wormholes

Vice reports that a physicist working at the University of Bristol in the UK has potentially discovered quantum wormholes. Researcher Hatim Salih has proposed an experiment that makes a type of teleportation called “counter-transportation” realistically feasible. However, this isn’t exactly the Star Trek transporter many sci-fi fans have dreamed of over the years. Here’s everything you need to know about Salih’s quantum wormhole experiment.

Salih’s quantum wormhole is a huge scientific breakthrough.

The general theory of relativity of the famous scientist Albert Einstein affirms that hypothetical “bridges” are possible between two points in space-time. However, since 1935, when Einstein presented his theory, the existence of wormholes has been purely hypothetical. However, Salih’s experiment paves the potential way to achieve the longstanding goal of traversing a rift in space-time.

Counterportation comes from “counterfactual” and “transportation” and while similar to teleportation, the two terms are not synonymous. “Counterportation gives you the end goal of recreating an object in space,” Salih said. “[B] but we can make sure nothing happened.”

Although unfortunately, for Salih to achieve true counterportation, they’ll have to wait a few years. The quantum computers necessary to perform the task don’t exist yet in 2023. “If counterportation is to be realized, an entirely new type of quantum computer has to be built,” Salih said. However, development is underway, and Salih hopes to complete it in three to four years.

Wormholes are a classic trope of science fiction in popular media, if only because they provide such a handy futuristic plot device to avoid the issue of violating relativity with faster-than-light travel. In reality, they are purely theoretical. Unlike black holes—also once thought to be purely theoretical—no evidence for an actual wormhole has ever been found, although they are fascinating from an abstract theoretical physics perceptive. You might be forgiven for thinking that undiscovered status had changed if you only read the headlines this week announcing that physicists had used a quantum computer to make a wormhole, reporting on a new paper published in Nature.

Let’s set the record straight right away: This isn’t a bona fide traversable wormhole—i.e., a bridge between two regions of spacetime connecting the mouth of one black hole to another, through which a physical object can pass—in any real, physical sense. “There’s a difference between something being possible in principle and possible in reality,” co-author Joseph Lykken of Fermilab said during a media briefing this week. “So don’t hold your breath about sending your dog through a wormhole.” But it’s still a pretty clever, nifty experiment in its own right that provides a tantalizing proof of principle to the kinds of quantum-scale physics experiments that might be possible as quantum computers continue to improve.

“It’s not the real thing; it’s not even close to the real thing; it’s barely even a simulation of something-not-close-to-the-real-thing,” physicist Matt Strassler wrote on his blog. “Could this method lead to a simulation of a real wormhole someday? Maybe in the distant future. Could it lead to making a real wormhole? Never. Don’t get me wrong. What they did is pretty cool! But the hype in the press? 

The success of this experiment could change the field of physics forever. 

Additionally, Salih posits that this work is tantamount to the particle acceleration work at the European Organisation for Nuclear Research (CERN). “This work will be in the spirit of the multi-billion ventures that exist to witness new physical phenomena,” Salih said. “[…] But at a fraction of the resources.” 

The ultimate goal of the quantum wormhole experiment is to “explore fundamental questions about the universe,” Salih says. And if successful, the experiment could allow scientists to research “higher dimensions.” 

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