Open a corporate bank account in Lichtenstein – from 3,999 EUR
It is quite surprising to find an absolute monarchy in contemporary Europe but the Principality of Lichtenstein located between Austria and Switzerland is an independent state where the Prince has almost absolute powers. Hans-Adam II, the current Prince of Lichtenstein, appoints judges and ministers, he can dissolve the Parliament, or veto any law that it passes, and so on.
Undemocratic? Probably. But Lichtenstein has the highest GDP per capita in the world. Thus, the richest country on the planet is an absolute hereditary monarchy. This is some food for thought, we believe.
Why open a corporate account in a Lichtenstein bank?
Joking aside, opening a foreign bank account in Lichtenstein would certainly take your company to a higher level. Keeping your financial assets in a country of unparalleled political and economic stability and utmost prosperity would help you minimize entrepreneurial risks and increase the degree of your certainty about doing business. Another nice thing to know is that you can set up an account with the bank whose services we are offering from the comfort of your home. That is, you do not have to visit Lichtenstein in order to open a bank account in this country.
The financial sector of Lichtenstein economy and its banking system in particular is one of the most advanced in the world. We are used to thinking about Switzerland as the reference pattern for banking but time goes on and things change. Lichtenstein has been closely associated with neighboring Switzerland for years and it certainly applies the Swiss banking system but it has managed to improve and surpass it in certain respects. Specifically, this concerns financial security guarantees and confidentiality of personal information.
Beginning 2016, Standard & Poor’s consistently assigns an AAA rating to Lichtenstein. This is as high as this rating can be and it means that the country is in more than favorable financial conditions. A jurisdiction with the top credit quality, one that is able to easily meet its financial commitments and that is running the lowest possible risk of default should be attractive to any business company.
Lichtenstein is an EU and Schengen Treaty member state but it is not a Euro zone country. The Swiss franc is the official currency in Lichtenstein.
The average capitalization of Lichtenstein banks is 21.3%, which puts them among the best-capitalized banks in Europe and in the world. Standard & Poor’s also lists Lichtenstein among the countries with the lowest banking risks.
The banking sector in the country is focused on offering reasonable business strategies and personalization of capital management. Its 150-year experience in providing banking services and consultations will be of great economic help to you and it will let you avoid making risky investments.
Beginning 2017, Lichtenstein implements all the OECD reporting standards including automatic exchange of financial information with EU countries. At the same time, you have to realize that your financial information is not going to be revealed unless your company is suspected of money laundering or some other criminal activities. If you do honest legal business, your financial secrets will remain safe in Lichtenstein.
In summary, the following aspects make opening a foreign bank account in Lichtenstein advantageous:
- Security (the lowest financial risks);
- Confidentiality guarantee (on the condition that your business is legal);
- Stable economy overall (it is safe to keep money in the country);
- Low taxes in Lichtenstein (lucrative investment options).
In addition to that, the bank we are offering for your consideration is a member of the Deposit Guarantee and Investor Compensation scheme, which means that your deposit in this bank is going to be as safe as a bank deposit can only be.
A corporate account in the Lichtenstein bank: the ‘beyond banking’ approach
The bank that we are offering exercises the ‘beyond banking’ approach that is becoming more and more popular among modern banks. (‘Beyond Banking’ is actually the bank’s motto.) This approach means that the bank goes beyond providing the traditional list of banking services and offers multiple additional financial instruments that its clients can use.
You can open a corporate account in two alternative currencies with this bank: the Euro or the Swiss Franc.
The minimum deposit required to open the account is 25,000 EUR (or equivalent in CHF). On a special note, we would like to inform you that the bank we are offering for your consideration here is not among large Lichtenstein banks. Major banks in this country require much more considerable initial deposits of those who wish to open accounts with them.
The account opening fee that includes the new client’s compliance check is 10,000 EUR.
Monthly account maintenance fee that includes compliance fee is 500 EUR.
Commission for incoming and outgoing transactions is 0.25% of the amount of payment. The minimum commission is 50 EUR with electronic banking and 100 EUR with manual payment orders.
Negative interest rates are applied in case the balance goes beyond the minimum amount specified above or in case the account is inactive: 0.5% for Euro deposits and 0.8% for Franc deposits.
The bank does not open US dollar accounts.
Visa Credit Cards are soon to be issued by the bank.
IMPORTANT: The amounts and rates given above are effective at the moment this text is written. They may be subject to change in the future.
This bank will be loyal to you and attentive to the needs of your business. Its priorities are the client’s financial security and growth.
The ‘Beyond Banking’ model gives access to a package of services that involves a number of different providers.
You will be able to use a wide spectrum of business solutions:
- The classic products such as Letters of Credit, Standby Letters of Credit, and Bank Guarantees;
- Structured trade and export financing;
- Structured financing of raw materials trade;
- Bank partnership in trade.
If you are engaged in international trade especially, having an account with this bank will certainly come in handy. It will let you minimize risks with new ‘unknown territories’, accelerate money flows, and optimize your business processes.
Apart from assistance in trade, the Lichtenstein bank will help you raise additional capital, provide consultations and analytics for the stock market, as well as assist you with deposits, clearing, and cash concentration.
You can learn more about the services that his bank provides if you write to the experts of Offshore Pro Group at the following address: [email protected]. We maintain direct contact with the bank administration and we are informed about all their services and the changes in requirements that happen from time to time.
Documents required for opening a corporate bank account in Lichtenstein
The bank requires a standard pack of documents to be submitted for account opening. All the company beneficiaries, directors, nominees, and other signatories shall supply the following documents to the bank:
- Notarized copies of passports (with notarization less than six months old);
- Proofs of addresses such as utility bills, for example, less than three months old (also notarized);
- CVs that shall be signed;
- Corporate documents package:
- Company Charter;
- Articles of association or shareholders’ agreement;
- Company registration certificate;
- Directors appointment protocol;
- Share certificate;
- Good Standing Certificate (for companies in operation for over one year).
Important: If the original documents are made in a language other than English, they have to be translated into this language and translations apostilled.
You will also have to fill out a questionnaire that will describe your company activities to the bank administration. There you will have to provide the following information:
- The official registered name of your company;
- A detailed description of the goods your company produces or the services it provides;
- A history of your company;
- The geographic location(s) where your business is conducted;
- The number of employees that the company has;
- The company website;
- The company structure or organogram;
- If you company is listed in any exchange, you will have to indicate which one(s);
- The source the initial deposit will come from;
- The name and the location of the bank where the initial funds will come from;
- The usual purpose(s) of payments that are going to be made to your Lichtenstein bank account;
- The total assets (worth) of your company;
- The most recent tax report or contracts/ invoices indicating business activities;
- An estimation of the overall company turnover for the next year;
- An estimation of the bank account turnover for the next year;
- An estimation of the number of prospective transactions and their monthly and yearly amounts;
- The complete list of your business collaborates with the counties where these companies are incorporated;
- Names of the banks that you are currently being serviced at.
Why you need our assistance in establishing a bank account in Lichtenstein
We work closely with this bank and we know in depth all the requirements that it puts forward. Besides, we have the questionnaire mentioned above and all other bank forms at hand. When you apply for our services, we will send these forms to you for completion. Moreover, we are not going to leave you on your own in completing the forms! With our expertise, you will be able to fill them out exactly the way the bank wants to see them filled out.
This is a very important point to make. Today the all banks are strictly regulated by European and global financial authorities. If they service clients that may appear suspicious in a certain respect, they will face huge fines and other sanctions. Naturally, they do not desire to run these risks and thus they implement very strict due diligence procedures on their part. It may be unsettling to know that but as things stand for now, the banks will service only the clients that look most reliable.
With our help, your application is going to sound as trustworthy as is can be. We cannot guarantee that the bank will open the account for you but we do promise to do our best to improve your chances of being accepted as much as possible.
Before we launch the process of establishing a corporate bank account for your company in Lichtenstein, we have to obtain two things from you. First, it is the service payment of 3,999 Euros. You can make the payment by a bank transfer, with your credit card, by use of such payment systems as MoneyGram, Western Union, Web Money, or even Bitcoin.
Second, you have to send us the complete set of documents that the bank requires for corporate account opening. We will carefully inspect each and every one of them before sending them to the bank. It is going to take between two and three weeks to set up a bank account in Lichtenstein from the date of document submission.
Please place a service request with us by writing to [email protected] and protect your financial assets simultaneously enhancing the image of your company!