How to open a bank account in Incognito Bank (Switzerland) 003

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

November, 2005

Last contact

October, 2024

Last update

June, 2024
  • the bank opens savings (investment) accounts, focused on clients interested in investments and ready to purchase investment products of the bank;
  • minimum deposit on the account – from CHF 2 000 000;
  • the bank has a branch in Dubai (UAE);
  • minimum deposit in the Emirati branch – about USD 20 000 000;
  • it is possible to open a corporate account, including the UAE company, offshore company, but only a savings account and further purchase of investment products of the bank;
  • terms of account opening – case by case (check with a consultant);
  • before opening an account, a preliminary check and then a meeting with a representative of the bank at any of its offices

 

GSL rating
rating
Beginning of cooperation
November, 2005
Last contact
October, 2024
Last update
June, 2024
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General information and rating
General information and rating

Not rated
Global rating
78
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
1819
History
The Bank was founded in 1819. It is one of Switzerland's oldest banks and at the present time it has 12 offices worldwide (Montreal, London, Paris, Luxemburg, Hong Kong, Perth, Dubai, Geneva, Zurich, Basel, Madrid, Barcelona). Since 1931 it has been a member of Swiss Private Bankers Association and the co-founder of the Geneva Private Bankers Association. In 1857 it became one of the founders of Switzerland's first ever securities exchange in Geneva. Today it is a member of the SIX Swiss Exchange
Personnel
The Bank employs about 650 employees around the world, 50% of whom are located in Switzerland, the rest - in foreign branches of the Bank. There era English-speaking staff
Bank’s shareholders
The bank used to be a partnership with unlimited liability of their own wealth and was owned by seven partners, two of whom are descended from the founder family (2012). As of 1 January 2014, this private bank was transformed into a société anonyme. Changes took place in the bank’s Board of Directors as well
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.
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    Minimum requirements
    Minimum requirements

    2 000 000
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    1 000 000
    Initial deposit of funds, €
    6
    Deadline for the initial deposit, month
    Minimum balance, €
    CHF 2 000 000. Generally looking for larger portfolios to manage on a discretionary basis
    Transactions permitted per month
    No restrictions, but transactions have to be justified for due diligence purposes and should not be "in&out". The overall purpose of savings and investment is important
    Initial deposit of funds, €
    CHF 1 000 000 with additions to the CHF 2 000 000 within a year
    Deadline for the initial deposit, month
    Within a few months of the opening, max 6 months
    How fast payments are executed
    Same day if investments and international correspondent banks permit

    Tariffs and services
    Tariffs and services

    30
    Outcoming transfer, €
    0
    Incoming transfer, €
    1 200
    Account maintenance, €/year
    2 500
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Fixed charges of approx. CHF 30 - CHF 50 (EUR 25 - EUR 41)
    Incoming transfer, €
    Incoming transfer is free of charge
    Account maintenance, €/year
    There are three service options for investment products:
    - independent (where the client does not need any support / accompaniment from the bank);
    - (in this case the bank undertakes partial management of the investments, but does not perform any actions without the consent of the client);
    - full accompaniment (the bank supervises the Client's investment portfolio in full).
    Any accompaniment is paid additionally as annual service (payment is charged twice a year)
    Payment limit for credit cards, €/day
    No specific max. limit. Depends on the balance in the portfolio of investments
    Funds to be blocked for CC issue, €
    The Bank issues a Guarantee to the card company. The portfolio of savings and investments have to cover the Guarantee
    Distant access to the account
    "Read only" access on internet basis with personal codes
    Financial products
    Personalised Portfolio Management with six different standard portfolio strategies that can be adapted to the personal requirements with restrictions and favorite themes, Direct Investments in Equities, Bonds, Commodities, as well as Traditional Funds, Hedge Funds, Funds of Hedge Funds, Personalised Fund Selection, Lombard loans, Guarantees, Trusts, Foundations, Personal Companies. There is a specialised fund analysis department keeping track of more than 500 funds and investing in about 100 of the best quartile
    Credit/debit cards
    Visa, Mastercard, Amex, Maestro, Swiss Travelers
    Hold mail
    Possible

    Account opening procedure
    Account opening procedure

    Days to open for incoming transfers
    case by case
    Days to open for outcoming transfers
    case by case
    References
    Not necessary
    Purpose of the account
    Savings
    Visit to the bank
    A personal meeting necessary. This can take place either at the bank’s offices
    Required
    Copy of passport; completed set of due diligence documents depending on each specific case (for example, bank reference, company’s annual financial statements, sale or commission agreement, etc)
    Types of accounts
    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
    Written and certified proof of the origin of the funds must be provided. These are: legal documents (contracts, etc.), bank statements, confirmation certified by a lawyer, auditor or accountant. A documentary form of confirmation of the origin of funds can always be negotiated with the banker

    Banks of Switzerland

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
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