GSL / Offshore and International Law / Offshore Banking / Incognito Bank (Switzerland) 002

How to open a bank account in Incognito Bank (Switzerland) 002

Beginning of cooperation Last contact Last update
August, 1997 December, 2021 April, 2021

GSL reference about the bank

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Primary requirements:
- savings (investment) accounts;
- Requirements for the minimum account balance - USD 1,000,000;
- translation cost - 30 CHF;
- it is possible to open an account for an operating company in conjunction with Private Banking (with transaction activity up to 5 transactions per month);
- an account can be opened without leaving Switzerland, but a meeting with a banker who regularly visits Moscow is required;
- The bank accepts funds from ABLV (case by case).
This bank is a classic example of a low-profile bank. This Bank does not seek to advertise itself. And, following the wishes of the Bank, we post information about it anonymously. We will inform you about the name of the Bank in person

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    Bank's characteristics

    General information and rating

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    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    752 17 A
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    Year of foundation 1983
    History Founded in 1983 and headquartered in Zurich, the Bank has an international network which spreads over Europe, the Middle East, Asia Pacific region, North and South Americas. It belongs to a global family of private banking businesses, which covers 30 countries and has around 2500 employees
    Personnel Mainly English-speaking and French-speaking. There are also Russian-speaking staff of non-Russian origin
    Bank’s shareholders 100% shareholder is a Luxembourg-based financial group controlled by the family of South European shipowners
    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

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    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    1 000 000 5 1 000 000 No restrictions
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    Minimum balance, € The minimum account balance requirement is USD 1,000,000. For high risk accounts and for PEP - 5,000,000 USD
    Transactions permitted per month The account should not be used as a checking account, transactional activity is not allowed (only for personal needs). However, transactional activity is allowed for operating companies (5 transfers per month), opening an account for which is possible in conjunction with Private Banking
    Initial deposit of funds, € Down payment is equal to the minimum account balance
    Deadline for the initial deposit, month The down payment can be made at any time - by prior arrangement with the bank officer
    How fast payments are executed Usual value date is the second day. The same day transfers are possible but not guaranteed (especially with large transaction amounts). Cut-off time is 15.00 (Central European Time)

    Tariffs and services

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    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    80 0 2 000 7 600 22 800
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    Outcoming transfer, € Outgoing transfers in CHF – CHF 20, transfers in European currencies – CHF 30, transfers in other currencies – CHF 40 (up to CHF 100 per transfer including all additional charges)
    Incoming transfer, € All incoming transfers are free of charge
    Account maintenance, €/year CHF 2500 per year. Account closing fee is CHF 1000
    Payment limit for credit cards, €/day Minimum payment limit set by a client is USD 10 000
    Funds to be blocked for CC issue, € Minimum amount to be blocked for the issue of credit cards is three times as much as the payment limit (USD 30 000)
    Distant access to the account Fax plus phone call, in rare cases code tables are permitted. E-banking is also available for CHF 1000 per year
    Financial products The bank does not work with main banking products and offers traditional financial instruments: fixed-term deposits, shares, bonds and their combinations. The minimum fixed-term deposit is CHF 50 000, the rates on deposits are linked to market rates
    Credit/debit cards VISA, Mastercard

    Account opening procedure

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    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
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    Visit to the bank No visit to Switzerland is required but it is necessary to meet the banker on his next visit to Moscow or to any European country. The bank forms can be signed at the office of a professional introducer
    Required Photocopy of passport, business card, standard set of corporate documents
    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 The bank asks for information on the source of the funds of the beneficial owner of the company. This information is subsequently verified by the bank through its own channels.
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