GSL / Offshore and International Law / Offshore Banking / East-West United Bank (EWUB)

How to open a bank account in East-West United Bank (EWUB)

GSL reference about the bank What is it?

Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.

GSL rating

Beginning of cooperation

April, 2016

Last contact

December, 2022

Last update

September, 2022
  • the bank opens savings and settlement accounts;
  • an account can be opened by meeting with a representative of the Bank in Moscow (an interview with the beneficiary is required);
  • there are no minimum balance requirements for current accounts, the minimum account balance for savings accounts is from EUR 500,000;
  • account maintenance fee is 1,000 EUR per month, if there are no active movements on the account, if 30-40 transactions are carried out per month, the fee may be reduced to 50 EUR per month;
  • the bank is focused on clients from Russia and Eastern Europe: investment products are sold taking into account the Russian tax and currency legislation, the bank also works with Kazakhstan, the United Arab Emirates;
  • the bank does not work with Uzbekistan, Azerbaijan, Belize, Seychelles, Panama, Caymans;
  • the bank does not work with crypto and EMI;
  • the company needs a substance in the country of registration, CFC (for Russia);
  • it is possible to open an account for forex brokers, funds with European licenses, startups;
  • the term for opening an account - case by case (check with the consultant)
GSL rating
Beginning of cooperation
April, 2016
Last contact
December, 2022
Last update
September, 2022
Your Consultant
Поиск консультанта...

Поиск консультанта...

General information and rating

Not rated
Global rating
Not rated
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
1974
History
Established in Luxembourg on June 12, 1974 as East West United Bank. From 1974 to 1992, the main shareholders of the Bank were the State Bank of the USSR (later the Central Bank of Russia) and Vneshtorgbank (the Russian Bank for Foreign Trade). From 1992 to 2000 Private Bank Imperial became one of the main shareholders. From 2000 to 2007, Vneshtorgbank is the main shareholder of EWUB. In 2001, AFK Sistema bought the first block of shares in the Bank. From 2007 to the present, AFK Sistema has been the majority shareholder: it directly controls 34% of the bank's capital and indirectly, through MTS Bank, the remaining 66%
Personnel
The bank is focused on serving Russian clients; each department has Russian-speaking employees. In addition, the Bank's employees speak English, French, German, Greek and Dutch.
Bank’s shareholders
Today 34% of shares are owned by AFK Sistema (the largest public diversified financial company in Russia and the CIS) directly and 66% through MTS-Bank. More than 64% of Sistema's shares are owned by Russian businessman Vladimir Yevtushenkov, known in the highest circles of Luxembourg society as one of the honorary consuls of the Grand Duchy in Russia
Confidentiality
Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.
Compare banks

    Minimum requirements

    0
    Minimum balance, €
    N/A
    Transactions permitted per month
    0
    Initial deposit of funds, €
    1
    Deadline for the initial deposit, month
    Minimum balance, €
    Minimum balance for savings accounts - from EUR 500,000. There are no minimum balance requirements for current accounts.
    Transactions permitted per month
    There are no restrictions for current accounts
    Initial deposit of funds, €
    The initial payment is equal to the minimum account balance - EUR 500,000 (for savings accounts)
    Minimum turnover, €/year
    from 10,000 USD
    How fast payments are executed
    Day to day or next day

    Tariffs and services

    50
    Outcoming transfer, €
    0
    Incoming transfer, €
    600
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Transfer fee (international payments via e-banking) is 0.1% (minimum EUR 25, maximum EUR 100)
    Incoming transfer, €
    The bank does not charge for incoming payments
    Account maintenance, €/year
    Account maintenance fee is 1,000 EUR per month, if there are no active movements on the account, if 30-40 transactions are carried out per month, the fee may be reduced to 50 EUR monthly
    Distant access to the account
    There is an Internet Bank
    Financial products
    Opening a full-fledged bank account in Luxembourg for Russian clients, buying / selling securities on the local and international markets, legal support in Luxembourg, including support in obtaining a residence permit, accounts for legal entities. The Bank's investment products are sold subject to Russian tax and foreign exchange legislation

    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 & current
    Visit to the bank
    Not required, but advisable to meet with the banker during his next visit to Russia
    Required
    A photocopy of the passport, a standard set of corporate documents for the company and other documents proving the source of the funds
    Types of accounts
    Savings; Current
    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
    Moderately detailed: along with the description of the business, it is necessary to provide information on the sources of origin of funds

    Banks of Luxembourg

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    Need a consultation from a specialist?
    Share on social media:

    Add a comment

    By clicking the «Send» button, you agree to the processing of personal data in accordance with the terms of our privacy policy

    RU EN