GSL / Offshore and International Law / Offshore Banking / Incognito Bank 001 (Liechtenstein)

How to open a bank account in Incognito Bank 001 (Liechtenstein)

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May, 2000 December, 2021 September, 2021

GSL reference about the bank

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Primary requirements:
- the bank opens savings (investment) accounts;
- no visit to the bank is required, but the client must meet with the banker either in Moscow or in Liechtenstein;
- the minimum balance is CHF 100,000;
- the term for opening an account - case by case (check with the consultant);
- since 2015, for clients outside continental Europe (including from Russia), the Bank has set an annual payment (Cross-Boarder Fee) in the amount of CHF 500, clients who have more than 10,000,000 on their account are exempted from this payment USD.

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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
    3 140 5 AAA
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    Year of foundation 1992
    History Bank was established in 1992 in Vaduz, the capital of Liechtenstein, as a classic private bank for individual management of private capital. The bank currently employs 50 highly qualified specialists, of whom many have worked in the bank since its foundation
    Personnel There is one Russian-speaking officer at present
    Bank’s shareholders Bank is an owner-managed banking establishment with an entrepreneurial orientation
    Confidentiality 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
    100 000 5 10 000 3 No restrictions
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    Minimum balance, € The recommended minimum balance is CHF 100 000. Ideally, the bank would like to see 50-60% of the client’s funds deposited as a portfolio managed by the bank. In this case the remaining 40-50% may be used for payment transactions.
    Transactions permitted per month The permitted number of transactions depends on the sum of deposit, but anyway will be no more than 5. For substantial clients special arrangements may be possible.
    Initial deposit of funds, € Initial deposit should be not less than 10000 CHF.
    Deadline for the initial deposit, month The initial deposit should be credited to the account not later than in 3 months, if not - the account will be closed.
    Minimum turnover, €/year As the bank is involved in asset-protection business the commercial accounts are not allowed. For bigger deposits special arrangements are possible.
    How fast payments are executed The value date is the second day, for express payments (the same dayvalue) an additional 30 CHF are required.

    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, €
    8 0 150 5 000 5 500
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    Outcoming transfer, € Domestic transfers in CHF – free of charge. Outgoing transfers in CHF – CHF 10. Outgoing transfers in other currencies – CHF 10. Express transfers – CHF 30
    Incoming transfer, € Free of charges
    Account maintenance, €/year Account closure – CHF 5. Numbered account fee – CHF 200 per year. Confirmation of transaction by fax – CHF 30. Cancellation of payment order – CHF 25. Investigation of payment – CHF 30, "no-paper" service is free of charge.
    Payment limit for credit cards, €/day Minimum monthly payment limit is 5 000 CHF.
    Funds to be blocked for CC issue, € For monthly payment limit of 5000 CHF, an additional 5500 should be blocked in the account. (which is equal to 110% insurance coverage for credit cards).
    Distant access to the account fax; full range of internet banking is available. Both passive monitoring and active transactions (transfers) are available through internet system. The transfers below 250 000 CHF go automatically without pre-approval. The bigger amounts are subject to authorisation of the banker.
    Financial products The bank offers high-quality private banking services: private capital advice and management. Investment advice and asset management. Loans and financing. Estate planning.
    Credit/debit cards VISA, Mastercard and "traveller cash card" (TCC).
    Hold mail Quarterly statements – CHF 5. Monthly statements – CHF 5. Retained mail fee – CHF 100 per year

    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 & current
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    Visit to the bank The account may be opened by correspondence with the assistance of GSL lawyers. The bankers visit Moscow once in a quarter. The client should definately meet the bankers either in Moscow or in Liechtenstein in next 12 months.
    Required Completed bank forms. Copy of client’s passport. Standard set of corporate documents (not older than 3 months)
    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; It is possible to open an account without meeting the banker
    Chances to open an account Predictable
    Business description Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed
     
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