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

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

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

November, 2011

Last contact

October, 2022

Last update

September, 2022
  • 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

GSL rating
Beginning of cooperation
November, 2011
Last contact
October, 2022
Last update
September, 2022
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General information and rating

Not rated
Global rating
50
Countrywide rating
2
Countrywide rating of the head bank
622
Global rating of the head bank
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
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

    1 000 000
    Minimum balance, €
    10
    Transactions permitted per month
    1 000 000
    Initial deposit of funds, €
    2
    Deadline for the initial deposit, month
    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

    125
    Outcoming transfer, €
    0
    Incoming transfer, €
    200
    Account maintenance, €/year
    7 500
    Payment limit for credit cards, €/day
    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

    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 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
    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

    Banks of Austria

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