How to open a bank account in VP Bank Liechtenstein

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

November, 1996

Last contact

November, 2024

Last update

June, 2024

the bank opens savings (deposit) accounts;
to open an account, a personal meeting with a potential client is mandatory;
minimum balance – EUR 1 000 000;
the term for opening an account – case by case (check with the consultant);
at present the Bank does not process payments to Latvian banks: the correspondent bank in dollars does not work with Latvian banks due to the increased risk

GSL rating

Beginning of cooperation

November, 1996

Last contact

November, 2024

Last update

June, 2024

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

978

Global rating

3

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1956

History

The bank was founded in April 1956 as Verwaltungs- und Privat-Bank Anstalt. It was later converted into a limited liability company in December 1962, and in 1974 it became Liechtenstein’s first public company, listed on the Swiss Stock Exchange (since 1983). The bank has 10 offices all over the world (Switzerland, Liechtenstein, Luxembourg, Germany, Hong Kong, Singapore, British Virgin Islands)

Personnel

The bank has over 700 staff who speak English, German, French, Italian, Spanish, Hungarian, Czech, and Slovak

Bank’s shareholders

The bank’s major shareholders are two charitable societies: Foundation named after Guido Feger, Commercial Councilor to the Princely House - Stiftung Fürstlicher Kommerzienrat Guido Feger (Vaduz, Liechtenstein), which owns 48,4% of shares, and Martin Hilti Company - U.M.M. Hilti Stiftung (Schaan, Liechtenstein), which owns 10,6% of shares. The rest of the shares are traded at the stock exchange

Confidentiality

AML legislation is strictly observed

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Minimum requirements

1 000 000

Minimum balance, €

No restrictions

Transactions permitted per month

1 000 000

Initial deposit of funds, €

3

Deadline for the initial deposit, month

Minimum balance, €

The minimum balance is EUR 1 000 000, provided there is a substantial turnover in the account

Transactions permitted per month

There are no restrictions as to the number of transfers per month, however the bank imposes a CHF 20 000 per month limit (or equivalent amount) on cash withdrawals

Initial deposit of funds, €

There are no restrictions as to the initial deposit

Minimum turnover, €/year

There are no restrictions as to the minimum turnover

How fast payments are executed

Depending on the urgency of payment, the value date is the same day or the next following day

Tariffs and services

20

Outcoming transfer, €

0

Incoming transfer, €

150

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Payments with payment instruction – free of charge; payments without payment instruction and by phone – EUR 3

Incoming transfer, €

The bank does not charge any fees on incoming transfers

Distant access to the account

By phone and fax. Free-of-charge Internet banking system. Private banker – ‘personally known’ system

Financial products

Securities trading and forex trading; fiduciary deposits; asset management, investment advice, tailor-made asset engineering with capital guarantee; custodial bank services; secured loans, bank guarantees, letters of credit

Credit/debit cards

The bank offers two types of bank cards: Maestro and VP Bank ATM Card. There is no annual maintenance fee for a VP Bank ATM Card, or any fee for cash withdrawals or making payments. The annual fee for Maestro is EUR 20, the charge for payments made abroad is EUR 1, the charge for cash withdrawal at another bank is EUR 3,5

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 & current

Visit to the bank

To open an account, a personal meeting with a potential client is mandatory

Required

Passports. For corporate accounts also: notarized and apostilled corporate documents (extract from the trade register, articles, list of directors with their specimen signatures, and other documents depending on the jurisdiction where the company is incorporated)

Types of accounts

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

Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed

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