/ / East-West United Bank (EWUB)

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

Beginning of cooperation Last contact Last update
April, 2016 June, 2021 April, 2021

GSL reference about the bank

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

Primary requirements:
- the bank opens savings (deposit) accounts;
- an account can be opened by meeting with a representative of the Bank in Moscow;
- minimum account balance - from EUR 500,000;
- the term for opening an account - case by case (check with the consultant);
- the bank is focused on clients from Russia: investment products are sold taking into account Russian tax and currency legislation

25 views 0
    Expand all Сollapse all

    Bank's characteristics

    General information and rating

    Двигайте таблицу
    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    Not rated Not rated AAA
    Двигайте таблицу
    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.

    Minimum requirements

    Двигайте таблицу
    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    500 000 N/A 500 000 N/A
    Двигайте таблицу
    Minimum balance, € The minimum balance is EUR 500,000
    Initial deposit of funds, € The initial payment is equal to the minimum account balance - EUR 500,000

    Tariffs and services

    Двигайте таблицу
    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    N/A N/A N/A N/A N/A
    Двигайте таблицу
    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

    Двигайте таблицу
    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    case by case case by case Not necessary Detailed Savings
    Двигайте таблицу
    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 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 Moderately detailed: along with the description of the business, it is necessary to provide information on the sources of origin of funds
     
    RU EN