GSL / Offshore and International Law / Offshore Banking / Bank J. Safra Sarasin Ltd

How to open a bank account in Bank J. Safra Sarasin Ltd

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

March, 2015

Last contact

October, 2022

Last update

October, 2022
  • the bank opens savings (investment) accounts;
  • an account is possible without going to the bank, a representative of the Bank visits Moscow once a month;
  • requirements for the minimum account balance - 1,000,000 EUR;
  • the term for opening an account - case by case (check with the consultant);
  • the bank does not consider the Russian direction as a priority
GSL rating
Beginning of cooperation
March, 2015
Last contact
October, 2022
Last update
October, 2022
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General information and rating

Not rated
Global rating
22
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
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.
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    Minimum requirements

    1 000 000
    Minimum balance, €
    2
    Transactions permitted per month
    200 000
    Initial deposit of funds, €
    12
    Deadline for the initial deposit, month
    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

    20
    Outcoming transfer, €
    0
    Incoming transfer, €
    150
    Account maintenance, €/year
    5 000
    Payment limit for credit cards, €/day
    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
    case by case
    Days to open for outcoming transfers
    case by case
    References
    Not necessary
    Purpose of the account
    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
    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

    Banks of Switzerland

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
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