In Singapore you need at least one director who is locally resident, a qualified company secretary, and a local business address. Companies exist that will file the paperwork and supply all that for you, but if you aren’t locally resident, you’ll pay extra for the local director. The local banks also tend to require your physical presence to open an account, although neobanks like Wise don’t.

I’m not saying it’s a terrible choice – I‘ve incorporated in Singapore and there are lots of advantages. But if you aren’t locally resident, there might be better options.