GSL / Offshore and International Law / Offshore Banking / Société Générale Private Banking (Suisse) SA

How to open a bank account in Société Générale Private Banking (Suisse) SA

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

July, 2003

Last contact

October, 2022

Last update

October, 2022
  • savings (investment) accounts;
  • an account can be opened without leaving Switzerland, but a meeting with a banker who regularly visits Moscow is required;
  • minimum account balance - 1,000,000 EUR;
  • the term for opening an account - case by case (check with the consultant)
GSL rating
Beginning of cooperation
July, 2003
Last contact
October, 2022
Last update
October, 2022
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General information and rating

1 304
Global rating
51
Countrywide rating
39
Countrywide rating of the head bank
267
Global rating of the head bank
Year of foundation
1986
History
Established 1986 as Banque Cantrade Lausanne SA. On February 1, 1993 name changed to Cantrade Banque Privée Lausanne SA and on October 2, 1995, name changed to CBG Compagnie Bancaire Genève. The CBG, having acquired the Banque d'Investissements Privés (BIP), Geneva, in November 1997. Subsequently, it conducted a full integration of Fransad Investments et Gestion SA (FIG), Geneva, on December 31, 1997. On July 1, 1998 we siezed the opportunity to take control of Cantrade Banca Privata Lugano SA, the name changed to CBG Banca Privata Lugano, our majority stake being 70 p.c. On November 30, 2003 SG Rüegg Bank AG merged into CBG Compagnie Bancaire Genève and name changed as above
Personnel
The bank has Russian-speaking personnel
Bank’s shareholders
Société Générale Bank & Trust (Luxembourg) - 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.
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    Minimum requirements

    1 000 000
    Minimum balance, €
    N/A
    Transactions permitted per month
    500 000
    Initial deposit of funds, €
    3
    Deadline for the initial deposit, month
    Minimum balance, €
    The minimum deposit of 1 000 000 EUR needs to be made within two years
    Initial deposit of funds, €
    500 000 EUR. On agreement with the bank, the initial deposit can be reduced
    Deadline for the initial deposit, month
    First 2-3 months
    How fast payments are executed
    Payments are normally executed within two days of the date of value, but cannot be executed same day

    Tariffs and services

    40
    Outcoming transfer, €
    0
    Incoming transfer, €
    480
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    transfer fee is 36 EUR for payments made to EU countries including Switzerland and 42 EUR for payments to other countries.
    Incoming transfer, €
    no fee for incoming transfers
    Account maintenance, €/year
    Opening an account is free. Administrative commissions cover the costs of maintaining an account, managing numbered accounts, storing correspondence and other costs of processing an operation and amounts to 0.175% (minimum - 300 CHF every six months; maximum - 6,000 CHF every six months)
    Distant access to the account
    The account can be operated via fax (with client’s signature), phone, and E-banking
    Financial products
    The bank offers a great variety of classic products: deposits, bonds, funds, futures, credits, bank guarantees, loans etc.
    Credit/debit cards
    Visa, MasterCards, American Express (USD, EUR, CHF)
    Hold mail
    Keeping the client's mail is covered by the maintenance fee.

    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
    Visit to the bank is not required because the bank’s representatives often visit Russia. The client can meet the bank officer in Russia or visit the bank at any convenient time
    Required
    Client’s passport, certain forms allowing to gather the necessary information about the client. For companies – passports, copies of constitutive documents
    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
    Reasonably detailed: the client shall describe the nature of his/her business and disclose the source of funds.

    Banks of Switzerland

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