GSL / Offshore and International Law / Offshore Banking / Liechtensteinische Landesbank (Österreich) AG

How to open a bank account in Liechtensteinische Landesbank (Österreich) AG

Beginning of cooperation Last contact Last update
November, 2011 December, 2021 March, 2021

GSL reference about the bank

Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.

Primary requirements:
- the bank opens savings (deposit) accounts;
- an account can be opened by meeting with a representative of the Bank in Moscow (without leaving for Austria);
- minimum balance on the account - from EUR 1,000,000;
- the term for opening an account - case by case (check with the consultant).

We have not been in cooperation with this bank for very long, but we know some  employees of the Austrian branch, who came to work there from other Austrian financial institutions

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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 50 2 622 AAA
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    Year of foundation 2009
    History It is the Liechtenstein oldest bank, owned by the state since 1861. The Bank has its representative offices in Hong Kong, Abu Dhabi and the Cayman Islands. Liechtensteinische Landesbank (Austria) AG established November 25, 2009
    Personnel Fourteen Russian-speaking people work in the Bank's Russian desk.
    Bank’s shareholders Liechtensteinische Landesbank AG (Vaduz Liechtenstein) - 100%
    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 10 1 000 000 2
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    Minimum balance, € EUR 1 000.000
    Transactions permitted per month The clients, meeting the Bank's requirements, are giving preferences in the form of 10 business transactios per month
    Initial deposit of funds, € The acceptable initial deposit to initiate the account opening is EUR 1.000.000
    Deadline for the initial deposit, month The initial deposit shall enter the account within two months
    How fast payments are executed Payments are processed within 3 days

    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, €
    125 0 200 7 500 15 000
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    Outcoming transfer, € Outcoming transfer fee is 0.25% from the amount of payment (no more than EUR 500 and no less than EUR 50)
    Incoming transfer, € There is no incoming transfer fee
    Account maintenance, €/year Account maintenance fee is EUR 200 per year
    Payment limit for credit cards, €/day Both minimum and recommended limit is EUR 7.500, however, this limit may be increased on additional request
    Funds to be blocked for CC issue, € Insurance coverage shall be twice the size of the payment limit; it is blocked on the account
    Distant access to the account Internet banking will only allow you to monitor the transactions on your account
    Financial products Investment programs, sometimes - trade financing programs (such as letters of credit). The rates are applied on individual basis
    Credit/debit cards The Bank issues credit cards of main payment systems
    Hold mail The Bank will charge EUR 200 per year for keeping statements on the account

    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 A visit to the bank is not required, but a meeting with a bank employee who is in Moscow is required
    Required Standard corporate set and documents confirming the source of funds (declarations, contracts, invoices, or a written statement on the origin of funds)
    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 requires a full business description signed by the client
     
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