EFG Private Bank

Beginning of cooperation Last contact Last update
May, 2014 October, 2017 August, 2014

GSL reference about the bank

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EFG Private Bank is a UK branch of the Banking Group EFG International, headquartered in Switzerland.
Account opening process requires a visit to either London or, if agreed with the banker, any other European country 

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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 Not rated A
    Year of foundation 1996
    History EFG Private Bank Limited is a UK division of EFG International, a banking group which is headquartered in Zurich, Switzerland and operates in around 30 locations worldwide, including Hong Kong, Singapore, Monaco, Luxembourg, Liechtenstein, Guernsey, Jersey etc)
    Personnel The bank has over 2300 staff, including Russian-speaking officers
    Bank’s shareholders The bank’s major shareholder is EFG Bank European Financial Group (EFG Group) - 56%. The shares in EFG International are listed on the SIX Swiss Exchange
    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 8 1 000 000 1
    Minimum balance, € The minimum balance is EUR 1 000 000
    Transactions permitted per month The account cannot be used as a transactional one, but 2 or 3 transactions per week are permitted if the nature of transactions is clear
    Initial deposit of funds, € The initial deposit equals the minimum balance
    Deadline for the initial deposit, month Within one month of the account being opened
    How fast payments are executed The value date is normally the second day

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    N/A 0 N/A N/A N/A
    Incoming transfer, € No fee is charged on incoming transfers
    Distant access to the account eBanking
    Financial products The bank offers asset management, fiduciary services and loans
    Credit/debit cards American Express, MasterCard

    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 Account opening process requires a visit to either London or, if agreed with the banker, any other European country. The bank officer does visit Moscow, but only a couple of times a year
    Required Passport and standard set of corporate documents. Both the company and its beneficial owner also need to produce a tax return covering the last three years
    Types of accounts Personal; Corporate; Savings
    Chances to open an account Predictable
    Business description The bank asks to disclose the origin of wealth of the beneficial owner, which information the bank will then check through its own channels
     
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