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How to open a bank account in MBaer Merchant Bank AG

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March, 2021 December, 2021 April, 2021

GSL reference about the bank

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Primary requirements:
- the bank opens checking and savings accounts;
- it is possible to open an account for companies from offshore jurisdictions (conditions can be checked with a consultant);
- bank commission for opening an account varies from CHF 5.000;
- Requirements for the minimum account balance (Private Banking) - from 200,000 to 500,000 CHF;
- the bank gives preference to clients who are engaged in trade, production; does not accept crypt, but allows the client's own funds to be transferred to brokers for the purchase of crypt;
- there is an active Online Banking;
- before opening an account, the bank conducts a preliminary assessment, announces tariffs and its decision on this client;
- opening an account and identification is possible remotely (Zoom), but in this case it is necessary to meet with a bank representative (regularly visits Moscow) in the next 6 months;
- the term for opening an account - case by case (check with the consultant)

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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 2018
    History Michael Bär is the great-grandson of the founder of the Julius Bär private bank in Zürich. The MBaer Merchant Bank's heritage dates back to 1890, when Julius Bär laid the foundations for a long tradition of banking in Zurich, in partnership with Hirschhorn & Grob. Michael Bär was a member of the Group Executive Board of Julius Bär Group AG for many years but in 2015 he decided to set up a new merchant bank. In December 2018, the Swiss Financial Supervisory Authority FINMA granted MBaer Merchant Bank AG the Swiss Banking License
    Personnel There are Russian-speaking staff
    Bank’s shareholders MBaer Merchant Bank AG is majority-owned by Swiss investors, while other groups of shareholders are based in Asia and the Middle East. The shareholders include numerous private investors, above all entrepreneurs who are also bank`s clients and are themselves widely connected
    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
    0 No restrictions 0 0 No restrictions
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    Minimum balance, € There are no minimum account balance requirements for current accounts. For Private Banking, the minimum balance requirement is from 200 to 500 thousand CHF
    Transactions permitted per month The bank gives preference to clients who carry out 15-20 large commercial transactions per month
    Initial deposit of funds, € There are no down payment requirements for current accounts. For Private Banking, the initial payment is equal to the minimum account balance
    Minimum turnover, €/year No restrictions
    How fast payments are executed Day to day or next 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, €
    230 0 7 000 N/A N/A
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    Outcoming transfer, € Transfer fee is approximately 0.5% -0.1%, depending on the amount (max 2.500 CHF)
    Incoming transfer, € The bank does not charge a fee for incoming
    Account maintenance, €/year Account maintenance fee is approximately CHF 7.000
    Distant access to the account Online Banking
    Financial products The bank provides a full range of banking services: Wealth management, Wealth planning, Financing, Private office services, Corporate banking, Asset management, Mergers and acquisitions, Banking operations, EAM's & Family offices, Portfolio management, Financial consulting, etc.
    Credit/debit cards Wank issues credit cards

    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 No visit to the bank is required: account opening and identification are possible remotely (Zoom). But a meeting with a bank representative is required in the next 6 months after opening an account. Bank representatives regularly visit Moscow
    Required In addition to standard due diligence documents (a copy of a passport, proof of residence address, an apostilled set of corporate documents), the bank asks to provide audited statements for the last 3 years (if the company is NOT new), and if a new one, you can submit statements to other companies of the group or detailed business plan. Also, in the future, the bank asks to confirm payments with invoices and agreements.
    Types of accounts Personal; Corporate; Savings; Current
    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 Moderately detailed: along with a description of the business, it is necessary to provide information on the sources of origin of funds
     
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