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

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

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January, 2006 December, 2021 April, 2021

GSL reference about the bank

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Primary requirements:
- the bank opens savings (investment) accounts;
- an account can be opened without leaving Switzerland, a bank representative regularly visits Moscow;
- requirements for the minimum account balance - 2,000,000 EUR;
- the term for opening an account - case by case (check with the consultant);
- 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 at a personal meeting.

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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
    Not rated Not rated N/R
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    Year of foundation 1844
    History It was founded in the mid-19th century as a family banking business and remains such to date. For the past 150 years the bank’s shares have belonged to the same family
    Personnel The bank has English- and Russian-speaking staff. In Switzerland it has 175 employees, of whom 7 speak Russian, all Swiss citizens. It also has a subsidiary bank in Singapore and representative offices in London, Paris, Montevideo, and Turks & Caicos
    Bank’s shareholders A private bank. It belongs to the fifth generation of the bank’s ‘founding fathers’: Mr Pierre Poncet, Mr Gaétan Bordier and Mr Grégoire Bordier
    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
    2 000 000 10 2 000 000 1
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    Minimum balance, € 2,000,000 EUR as a figure that is optimally necessary for the formation of a high-quality investment portfolio. The amount can be reached within a year
    Transactions permitted per month The bank does not open current accounts (i.e. it is not possible to carry out transactions on a daily basis), however, 8-10 per month are permissible, and it is desirable that they relate to the service of private interests, rather than to entrepreneurial activity
    Initial deposit of funds, € The initial deposit is USD 500 000
    Deadline for the initial deposit, month The initial deposit needs to be made within 1 month
    How fast payments are executed The cut-off time is 15.00 CET. The payment is executed on the third day

    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, €
    40 0 500 20 000 60 000
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    Outcoming transfer, € Transfer fee is CHF 40
    Incoming transfer, € There is no charge on incoming transfers
    Account maintenance, €/year The maintenance fee is currently at least CHF 500. Below CHF 1 000 000 – 0.35%; from CHF 1 000 000 to 2 000 000 – 0.30%; from CHF 2 000 000 to 4 000 000 – 0.275%; over CHF 4 000 000 – 0.25%. Minimum CHF 500, maximum CHF 15 000
    Payment limit for credit cards, €/day Payment limit depends on the amount deposited at the bank (from EUR 20 000 to 50 000)
    Funds to be blocked for CC issue, € Three times as much as the payment limit
    Distant access to the account Internet banking – monitoring of account (not to make transactions, just view the account), e-mail, fax (with further confirmation by telephone), telephone
    Financial products The bank is a classic example of a family service bank and, in addition to banking services, it also offers private services (tax, legal etc). The bank does not have its own products and therefore is independent in the choice of optimal instruments. Broker activity. Fiduciary Management. Securities. Options. Rouble accounts are available. Through fiduciary deposit it is possible to open accounts at Russian banks (Alfa Bank, GazpromBank)
    Credit/debit cards Visa и MasterCard - Platinum, Gold, Classic. Fees for Platinum – CHF 7 500
    Hold mail Bank statement hold fee ranges from CHF 200 to 400 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 Sketchy Savings
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    Visit to the bank No visit to the bank is required. But it is still necessary to meet the bank’s representative who visits Russia every month
    Required Completed bank forms, copy of client’s passport, company documents (for corporate accounts)
    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 Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed
     
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