Opportunity To Open A Corporate Account With A Monaco Bank Which Provides Multi Currency Accounts And Is Strongly Regulated
It is now possible for you to open a foreign corporate account at this Monaco bank with the assistance and guidance of the professionals at the Offshore Pro Group. The advantages of a corporate account with this bank are:
- Strongly regulated bank in Europe
- European Union Secured Deposit Scheme
- Investment product range is good
- Multi currency accounts access
- Focus on asset protection and growth
- Efficient and secure online banking
Start right away by making contact at firstname.lastname@example.org and our experienced non resident banking professionals will provide the advice required to open a non resident corporate account with this Monaco bank. Please read this information carefully and take the time to answer the questions thoroughly To Be Sure Of Choosing The Right Foreign Bank Account For Your Needs Please Read And Respond.
Monaco As A Jurisdiction For Your Corporate Account
Monaco or the Principality of Monaco, is a microstate sovereign city that is located on the French Rivera in Western Europe. Monaco has a population of about 38,000 people and its governance is through a constitutional monarchy.
The country has a politically stable regime and it has been governed by the dynasty of Grimaldi for over 700 years. The official language of the country is French but other languages such as Italian and English are also widely spoken. The economy of Monaco is largely service based and services contribute 95% of their GDP. There is a diverse range of economy sectors that include finance, construction, real estate and trade.
Monaco does not publish official figures but it is estimated It is estimated that the per capita income of the country is $188,400. Since the financial crisis of 2008/2009 the economy of Monaco has seen growth. There are no taxes on assets in Monaco and business revenues, landed property and direct transfers are also free of tax. The official currency of Monaco is the Euro (EUR) and it is included in the European Union (EU) through a special agreement with France. It is also a full United Nations voting member.
Monaco has very strict banking regulations to protect client bank accounts. There are prudent and stringent standards in place for the prevention of money laundering and other illegal activities. When it comes to international cooperation Monaco always follows the rules. The country operates a high degree of banking privacy and if any banks break the rules then they will face heavy penalties.
Monaco’s banking sector is focussed on asset protection, diversification and enhancement through the use of financial investments. The number of credit and financial activities is always increasing in the country and all of these things make Monaco a good choice of jurisdiction for your assets.
Monaco is now offering the Deposit Guarantee Scheme as it is a part of the EU. This scheme aims provide cover and protect bank deposits made by investors. In the unlikely event that a bank in Monaco was to go into default and couldn’t meet its obligations, the scheme will guarantee to cover up to 100,000 EUR in client deposits. You can obtain more information about the Deposit Guarantee Scheme from your professional international banking consultant at the Offshore Pro Group.
Monaco Private Bank For The Protection Of Your Assets
This bank is one of the biggest banks in Europe and can trace its roots back to 1930. It became a dedicated private bank in 2011 and is entirely focussed now on the requirements of its private banking clientele. The bank has assets of over 23 billion Euros (EUR).
The bank states in its mission that it will use the combined strengths of the banking group that it is a part of to provide the highest quality services that it can to its clients. When you open a corporate account the bank will want to know all about your business and financial aspirations. They believe in the establishment of long term relationships that are built on mutual trust.
After discussing your business and financial goals the bank will provide tailored services which will help you to achieve your aims. They will certainly want to ensure that your assets enjoy durability for the long term and that you experience growth.
Sharing the same core values as the Principality of Monaco the bank conducts its business based upon stable governance, stable growth, transparency to the international community and providing an attractive financial and banking environment.
When you have an account at this bank you will be offered a team of experienced financial specialists and private bankers will be willing to work with you. The professional management team at the bank of the bank will assist you with your requirements in a discreet and competent way.
What This Monaco Bank Can Offer For The Protection Of Your Assets
This bank will not allow you to open a non resident corporate account remotely, which means you will need to have a meeting with a representative of the bank in Monaco prior to opening an account. Once your corporate account has been opened, you will be able to take advantage of a range of investment products that will provide capital growth.
You can open an account that is multi currency with this Monaco bank, and with this you will be able to hold one currency or multiple currencies in your account. You can hold funds in Euros (EUR), Russian Rubles (RUB) and US Dollars (USD) as well as other major currencies.
Developing successful investment strategies has been going on for many years at this bank. It uses classic methodologies of investment and wealth management that avoids excessive risk taking and alleviates the clients from facing major challenges.
Although it uses a classic approach when it comes to investments, the bank uses up to date technology to make sure that they are in control of your investments through the use of innovative tools. The bank uses a strategic approach that has 5 steps when it comes to investments and these are firstly the understanding of client profiles and financial aspirations, secondly the definition of the objectives for management, next is developing the investment strategy, then the investment implementation and finally the control of the results.
The bank is very likely to recommend a mixed portfolio of investments which will have flexibility. Any stocks held will be adjusted to match the profile of the investor and the overall strategy will be a combination of mixed, fixed income deposits and trading on the stock market. As an investor you can choose from a moderate, medium or a high profile. The bank will also analyse investments in emerging markets and utilize its trading capabilities on your behalf.
Other services are offered by the bank and these include wealth planning services which concerns asset and property protection as well as tax and inheritance planning and life insurance which can be used to protect your assets and there are unit linked and dedicated policies available.
Debit and credit cards are also available from this bank and they are branded by American Express and Visa. Each card will have your personal photograph on the back of it which will help to prevent crime. With these cards you can use ATM’s all over the world for withdrawing cash and use them to buy products and services.
There are six different cards that you can apply for and they are called the Visa Classic, Visa Travel, Visa Gold, Visa Somnis, Visa Gold Somnis and Visa Platinum. Every card has a different credit limit and can offer different services such as the granting of loans that have payback terms which are flexible.
Using the banks efficient and secure online banking system you will have 24 hour a day access to your corporate account. The service is very modern and the interface is friendly and intuitive. You will be able to access your multi currency account as well as manage cash payments. Balances can be checked as can recent transactions and full statements can be obtained.
If you hold any of the bank’s credit cards then these can be managed using the online banking system. You will also be able to make stock market transactions and request the assistance of an independent financial advisor if you require this.
This bank in Monaco will insist on a corporate account minimum deposit required of 1,000,000 (one million) Euros (EUR). A minimum account balance of 500,000 Euros (EUR) must also be maintained. No transit accounts will be accepted.
This Monaco bank will charge for the account and transactions and these can change, contact your professional at the Offshore Pro Group to get details on the latest charges. It is likely that you will want to take advantage of the best rates possible, so please state this intention when you are filling out the international bank selection form.
Important Note: This bank will open corporate accounts for offshore companies but there are some restrictions. Please contact your Offshore Pro Group international banking consultant to discuss this.
Please Follow These Steps Carefully To Open A Corporate Account With This Bank In Monaco
Be successful in getting your corporate account opened with this Monaco bank by going through this list in order:
- The first step is to email us email@example.com so that we can start working on your behalf to open your offshore corporate account with this Monaco bank. Second, it is a good idea for you to go through this page and send us complete answers to the questions Free Advice From International Banking Experts On Choosing A Foreign Bank Account.
Having a second foreign bank account opened will be beneficial to you and help to mitigate the risk of only having one account. Please see reduce your risks with a second offshore bank account.
- We will provide all of our “know how” and experience to you so that your new corporate account at this Monaco bank can be opened and you will need to provide us with a payment of 3999 EUR for this. It is possible for you to pay with a credit card or via Western Union, Web Money, Bitcoin, Money Gram or with a direct bank transfer.
- In order for a corporate account to be opened you must provide notarized and apostilled documentaion in English for the beneficial owner and signatories (or English translation). Each officer, ditrector, trustee, manager, member, shareholder and the beneficial owner will need to supply:
- A notarized passport page copy or ID card that is valid (passport page must have photo and signature)
- A utility bill original or notarized copy or a bank statement that proves your address (not older than 60 days please)
- A fully descriptive biography for the beneficial owner and account signatories which discusses backgrounds of the individuals, their business interests, locations and income sources
- Please explain the reasons why you want an account opened and any operations planned
- Origin of funds confirmation
If any trustee, settlor, director, officer, shareholder, manager or member of the company is itself a legal entity (e.g. a trust, corporation, LLC or IBC), please submit the above requested documentation as if it were applying for an account.
The following corporate documentation is also required:
- Copy of Certificate of Incorporation / Registration
- Certificate of good standing (if the company is older than 12 months)
- Copy of the minutes of the general meeting, Articles and Memorandum of Association or By Laws
- Registers of Directors and Shareholders
- Copy of share certificates
- Copy of the resolution appointing directors
- Sample of company owners signatures
- Letter of Undertaking (in the case of bearer shares)
- A power of attorney for opening and managing the account, if the person’s right to open / close an account is not clear from the constituent documents of the company
- Copy of the Deed of Trust (in the case of Nominal Shareholders)
Important Note: A meeting in Monaco with a representative of the bank will be necessary before your corporate account will be opened.
When you have all your documents together please send them to us where they will be checked and rapidly passed on to the Monaco bank. As soon as your meeting with the bank has concluded you will need to give the bank 20 business days for your non resident corporate account in Monaco to be operational.
Start to open your non resident corporate account at this Monaco bank by making an initial contact via firstname.lastname@example.org