Yes, I’ve registered two businesses in Singapore using this type of service, although I am resident in Singapore.
-
Fine. They will supply a corporate secretary and office address. If you aren’t resident in Singapore you’ll have to pay them extra for a resident director. You’ll pay extra for accounting. These are legal services a lot of people use, not scams.
-
I signed up for a Wise business account without a problem, but I am resident in Singapore so I don’t know how you will get on. The big three banks in Singapore are old fashioned and typically require you to open the account in person. OCBC made us provide a print out of our website to prove we were a legitimate business! You will probably have more luck with a neobank like Wise (which actually uses DBS accounts behind the scenes anyway).
-
I’ve used Osome and BlueMeg. BlueMeg made every mistake possible, avoid at all costs. Osome’s website is basically a front-end to email, you can’t do much with it except send them messages. They generally do an okay job. I’ve heard Sleek recommended a lot but have no personal experience.
-
BlueMeg got our share split between founders wrong; they handed out our postal mail containing debit cards without checking ID; they left placeholder text in our constitution instead of putting our names in; and a bunch of other mistakes. They made similar mistakes with half a dozen other startups I know of too. Fortunately we caught them all because we checked everything, but I regard them as actively hazardous to your business. I don’t think there was a single thing they did for us that didn’t have a big, important, obvious mistake made. As far as I am aware, this isn’t the norm. Osome hasn’t done anything like that and I haven’t heard Sleek doing things like that either.
I’ve used Osome for three years. I can’t recommend Sleek because I haven’t used them, but if I were to set up a new company then I would probably give them a shot.