GSL / Offshore and International Law. Offshore companies registration. / Offshore Banking / Union Bancaire Privée, UBP SA

How to open a bank account in Union Bancaire Privée, UBP SA

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

January, 2002

Last contact

December, 2024

Last update

August, 2024
  • the bank opens savings (investment) accounts;
  • a personal meeting with a bank representative is mandatory;
  • Requirements for the minimum account balance – from CHF 500 000;
  • the term for opening an account – case by case (check with the consultant);
  • the bank is sensitive to mentioning the client in the media

 

GSL rating
rating
Beginning of cooperation
January, 2002
Last contact
December, 2024
Last update
August, 2024
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General information and rating
General information and rating

697
Global rating
13
Countrywide rating
—
Countrywide rating of the head bank
—
Global rating of the head bank
Year of foundation
1969
History
Founded in 1969 by financier Edgar de Picciotto. The de Picciotto family has headed the bank’s management for 40 years now. The bank is an active market player and over the years acquired a number of existing Swiss financial institutions, the most recent acquisition being that of the Swiss subsidiary of ABN AMRO. It has over CHF 60 billion under management. As Union Bancaire Privée, UBP was established in March 1990 following the merger of TDB American Express Bank (founded in 1956) and Compagnie de Banque et d'Investissements (founded in 1969). It changed its name to Union Bancaire Privée in April 1992. In June 1993 it acquired Cambio + Valoren Bank and in December that year – Nordfinanzbank. It took over Nordfinanz Bank Zürich in June 2001 and Discount Bank and Trust Company (founded in 1952) in June 2002. The bank changed its name to the current one in December 2009 and took over ABN AMRO Bank (Switzerland) AG in December 2011
Personnel
The bank has over 1 400 staff. There are English-speaking employees
Bank’s shareholders
CBI Holding SA (Geneva Switzerland) - 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
    Minimum requirements

    400 000
    Minimum balance, €
    5
    Transactions permitted per month
    400 000
    Initial deposit of funds, €
    3
    Deadline for the initial deposit, month
    Minimum balance, €
    The minimum balance is CHF 500 000
    Transactions permitted per month
    5 transactions per month are permitted. Commercial activity in the account is undesirable
    Initial deposit of funds, €
    The initial deposit is CHF 500 000, however the bank does not set strict requirements for this
    Deadline for the initial deposit, month
    If no transfer is made within three months, the bank blocks the account
    How fast payments are executed
    1-2 days

    Tariffs and services
    Tariffs and services

    22
    Outcoming transfer, €
    0
    Incoming transfer, €
    500
    Account maintenance, €/year
    10 000
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    CHF 30 (not including correspondent bank fees)
    Incoming transfer, €
    0,5% - cash withdrawal fee
    Account maintenance, €/year
    CHF 500 per year
    Payment limit for credit cards, €/day
    The payment limit is set by clients themselves. It is normally from CHF 10 000, but Switzerland has a restriction on cash withdrawals – not more than CHF 1 000 per day
    Funds to be blocked for CC issue, €
    The bank blocks an amount equal to the monthly payment limit. The insurance coverage fee – 1% per year. Credit cards are only issued if the balance of account is over 300 000
    Distant access to the account
    The account can be viewed (via internet), but cannot be operated. There is no fee for the internet system though
    Financial products
    The entire range of investment banking products (from deposits to hedge funds). The issue of commercial banking products is limited
    Credit/debit cards
    All major payment systems, including Travel Cash Card (TCC) (anonymous card for cash withdrawals and restricted non-cash payments)

    Account opening procedure
    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 personal meeting with a bank representative is mandatory
    Required
    A set of corporate documents, passport copy. Reference letters are not obligatory, but preferable
    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; It is possible to open an account without meeting the banker
    Chances to open an account
    Predictable
    Business description
    The bank needs the answer to the question about economic justification of the origin of funds. The bank is sensitive about the client’s being mentioned in mass media
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