How to open a bank account in UBS AG

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

August, 1996

Last contact

October, 2023

Last update

July, 2023

the bank opens savings (investment) accounts;
an account can be opened at a representative office of the Bank in Moscow;
requirements for the minimum account balance – 5,000,000 USD;
open accounts for offshore companies;
it is possible to carry out commercial transactions on condition of a large deposit;
the term for opening an account – case by case (check with the consultant);
it is possible to open an operating account for the company in addition to the investment account for the beneficiary (the conditions can be clarified with the consultant)

On March 19, 2023, the two largest and oldest Swiss banks UBS and Credit Suisse merged under UBS

GSL rating

Beginning of cooperation

August, 1996

Last contact

October, 2023

Last update

July, 2023

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+44 0 207 822 85 90

General information and rating

Global rating

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1998

History

UBS AG is a leading Swiss bank formed from the merger in June 1998 of Union Bank of Switzerland (founded in 1912) and Swiss Bank Corporation (founded in 1872). In November 2008 it merged with UBS Capital AG. The Swiss bank UBS is one of the 28 largest banks, which, according to the definition of the Financial Stability Board (FSB), fall into the category of “systemically important financial institutions”. As of 2015, the largest Swiss bank is represented in 56 countries and in all important financial centers with 893 branches. Assets under management in the amount of CHF 2 690 billion (2017). On March 19, 2023, the two largest and oldest Swiss banks UBS and Credit Suisse merged under UBS

Personnel

The bank employs over 60,000 employees. Russian-speaking, English-speaking, German-speaking, etc.

Bank’s shareholders

The Bank is an Open Joint Stock Company and its shares are quoted on leading stock exchanges. More than 127,000,000 shares were issued in total. The largest block of shares does not exceed 5%. More than 80% of shareholders are Swiss residents. Shareholders with 3% or more shares: Chase Norminee Ltd (London) - 11.94%; The Depository Trust Company DTC (Cede & Co.), New York (a US clearing organization) - 5.28%; Government of Singapore Investment Corp. (Singapore) - 6.40%; Nortrust Nominees Ltd (London) - 3.84%

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

5 000 000

Minimum balance, €

Transactions permitted per month

5 000 000

Initial deposit of funds, €

Deadline for the initial deposit, month

Minimum balance, €

The minimum balance is USD 5,000,000

Transactions permitted per month

The maximum of 5-10 transactions per month is the requirement for a typical Private Banking client

Initial deposit of funds, €

Down payment is equal to the minimum balance

Deadline for the initial deposit, month

Terms of introduction are discussed - 1 year by written agreement with the management

How fast payments are executed

On the next day

Tariffs and services

Outcoming transfer, €

Incoming transfer, €

240

Account maintenance, €/year

16 000

Payment limit for credit cards, €/day

Outcoming transfer, €

20 CHF

Incoming transfer, €

Payments to the account are free of charge

Account maintenance, €/year

For the accounts with balances of up to 50 000 CHF - 600 CHF per year; for the accounts with minimum balances above 50 000 CHF - 300 CHF per year. The total cost of account servicing (including investment transactions tariffs etc.) is less than 1%

Payment limit for credit cards, €/day

20 000 CHF per month is the recommended withdrawal limit

Funds to be blocked for CC issue, €

Credit cards are opened on condition of blocking over 250 000 CHF on the account

Distant access to the account

UBS e-banking services are available right upon opening of the account. However, it is only possible to operate an account via e-banking system if it is opened in Switzerland or Singapore. For London-based accounts, e-banking is for looking up movements on the account

Financial products

Full range of first-class banking services (loans, guarantees, letters of credit, etc.). Service: “Your private banker in Moscow”. Bank guarantee: 70-95% of the amount, 2.5% per year (US dollars). Forex transactions with the leverage of 1:10

Credit/debit cards

Priority is given to VISA cards, since VISA payment system is the bank’s subsidiary

Hold mail

600 CHF per year

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

The meeting with a bank officer is required. The bank has a representative office in Moscow

Required

A copy of the national passport or the passport for traveling abroad. If the company uses nominee services, it will be necessary to have some additional bank forms signed by the Director

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

It will suffice to give an adequate verbal description of the company’s business to the bank’s representative

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Comments

11.05.2022 13:41:56 Sreekanth

I would like to open offshore business account

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