How to bring capital into Singapore

[johnleung23]

Hi,

I'm a first time entrepreneur and also from a foreign country. I would like to start a business in Singapore. What's the most affordable (lowest exchange rate and lowest commision) way to get my capital, +$100,000SGD, into Singapore?

Do I just do this crudely (as in a money transfer, cashier cheque, personal cheque, travellar's cheque) or is there a more elegant way?

-j

[startofthejourney]

Hi J

Its best to do a telegraphic transfer. Just make sure that the bank through whom you send the money does not gyp you on the exchange rate. H**C for example is one who really tries to gyp you.

Negotiate with the bank. For a transfer of 100k they will put you onto a forex dealer within the bank.

Should be no more than 5-7 points over the interbank rate. Worst case 10 points.

Cheers