HYPO Landesbank Vorarlberg AG

Beginning of cooperation Last contact Last update
June, 2004 December, 2017 August, 2014

GSL reference about the bank

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The bank opens accounts for classic offshore companies such as BVI, Belize, Panama etc only if such companies are holding ones. If such company is a trading one, a corporate account is opened together with beneficial owner’s personal account

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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
    721 16 A+
    Year of foundation 1897
    History A joint-stock company Vorarlberger Landes- und Hypothekenbank Aktiengesellschaft (The Bank of the federal land Vorarlberg) was established in 1897. The bank is the biggest universal financial institution in Vorarlberg.
    Personnel There are Russian-speaking personnel in the bank
    Bank’s shareholders The bank’s shareholders since 1996, have been Vorarlberger Landesbank-Holding (76,0308%) and the bank consortium of Baden-Württemberg, Germany (about 23,9692%) - consisting, correspondingly, of the bank of the federal land Baden-Württemberg and Landeskreditbank Baden-Württemberg
    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

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    100 000 N/A N/A N/A N/A
    Minimum balance, € the minimum balance is 100 000 EUR
    How fast payments are executed Standard payment before11.30 a.m. (CET) – next day value. Express payment before 11.30 a.m. (CET) – same date value

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    63 63 40 N/A N/A
    Outcoming transfer, € For current accounts: 0,125% for all outgoing payments (the minimum of EUR 5,20; the maximum of EUR 500). All outgoing payments up to EUR 50 000 made in EUR throughout the Eurozone (EU Standard Regulation) are free of charge. For savings accounts: (the minimum number of outgoing payment): 0, 05% for outgoing payments (the minimum of EUR 7,00; the maximum of EUR 200). All outgoing payments up to EUR 50 000 made in EUR throughout the Eurozone (EU Standard Regulation) are free of charge.
    Incoming transfer, € For current accounts: 0,125% for all outgoing payments (the minimum of EUR 5,20; the maximum of EUR 500). All outgoing payments up to EUR 50 000 made in EUR throughout the Eurozone (EU Standard Regulation) are free of charge. For savings accounts: (the minimum number of outgoing payment): all incoming payments are not charged. All incoming payments up to EUR 50 000 made in EUR throughout the Eurozone (EU Standard Regulation) are free of charge.
    Account maintenance, €/year The quarterly fee for account maintenance is EUR 10. Account opening fee is EUR 350 for corporate bodies and individuals.
    Distant access to the account There is remote account management in place, carried via online banking system. You can make payments and manage your portfolio online, free of charge.
    Financial products Current and savings accounts; Cash Management (payments and exchange transactions); credit cards; Asset & Wealth Management (investment portfolios); deposits; safe deposit box rent; remote account management.
    Credit/debit cards VISA, MasterCard (credit cards) и Maestro (debit cards). Annual servcie is 59,20 EUR for credit cards and 20,70 EUR for debit cards, correspondingly.

    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 & current
    Visit to the bank The bank decides whether to open an account within two - three days from the date of the meeting with the bank's representative in Vienna (in some special cases, after a phone interview).
    Required Apostilled Incorporation Certificate (Articles), confirming the Company’s registration with the state; the Memorandum and Articles of Association of the company; an authorization document issued to a person for the purpose of managing the company’s affairs or opening accounts with the banks: a Power of Attorney, Minutes, or any other document signed by the company’s officers; an apostilled Certificate of Good Standing or any other document confirming the company’s legal capacity (if the company was registered more than two years ago); a Trust Deed; original passport of a signatory on the account or a certified copy thereof (for each applicant).
    Types of accounts Personal; Corporate; Savings; Current
    Chances to open an account Predictable
    Business description The bank has standard requirements towards the business description: you should tell about the establishment and current sttus of your business; disclose the source of financing and provide the beneficiary's CV and contact information
     
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