Bank J. Safra Sarasin Ltd

Beginning of cooperation Last contact Last update
March, 2015 October, 2017 March, 2015

GSL reference about the bank

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    Bank's characteristics

    General information and rating

    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    Not rated 6 N/R
    Year of foundation 1841
    History The bank’s history dates back to the mid-19th century: in 1841 Johannes Riggenbach established a firm that performed financial transactions and provided transportation services. In 1900, the bank was named А. Sarasin & Cie. The bank was acquired by Safra banking group at the end of 2011
    Personnel The staff speak Russian and English. The Russian Desk in Zurich has 3 staff and the Geneva’s Russian Desk has 8
    Bank’s shareholders The majority shareholder is Safra banking group
    Confidentiality Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

    Minimum requirements

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    1 000 000 2 200 000 12
    Minimum balance, € Bank requests the minimum balance of EUR 1 000 000
    Transactions permitted per month No trading transactions are allowed. The bank permits intra-group transactions (financing of companies of the group) with documentary proof to be provided
    Initial deposit of funds, € The initial deposit of EUR 200 000 should be made within the first month, with another EUR 200 000 to be made within the following month etc to achieve the minimum balance within one year
    Deadline for the initial deposit, month The minimum balance should be achieved within one year
    How fast payments are executed The value date is the following day

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    20 0 150 5 000 20 000
    Outcoming transfer, € The transfer fee is approximately EUR 20
    Incoming transfer, € No fees are charged on incoming transfers
    Account maintenance, €/year The annual maintenance fee for a personal account is EUR 150. The fee for a corporate and numbered account is higher and depends on the balance of account
    Payment limit for credit cards, €/day The minimum card payment limit is EUR 5 000
    Funds to be blocked for CC issue, € The minimum insurance coverage is EUR 20 000
    Distant access to the account Internet banking is available: both passive (view the transactions only) and active (make transactions)
    Financial products The bank offers a great range of investment products: both its own (priority) and others available on the market
    Credit/debit cards The bank offers VISA and MasterCard payment cards
    Hold mail Hold mail fee is EUR 600 per year

    Account opening procedure

    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    14 14 Not necessary Detailed Savings
    Visit to the bank No visit to the bank is required. The bank’s representatives come to Moscow once a month
    Required Passport copy. A standard set of corporate documents. It is good if some information about the beneficial owner is available on the Internet, otherwise the banker will need to visit the office of the company
    Types of accounts Personal; Corporate; Savings
    Opening procedure and Due Diligence It is possible to open an account without visiting the country where the bank is located
    Chances to open an account Predictable
    Business description Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed
     
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