Overview:

In Monaco we only work with one bank, that is the private banking subsidiary of a bank from another European country. Monaco is suitable only for private banking clients with high net worth.

 

Target clients:

Eastern European and African clients.

 

Languages:

English, Russian, Spanish, French etc.

 

Specific features:

  • Account managers travel frequently.

Plastic cards:

Full Visa and Mastercard range. Available either as debit cards, secured credit card, or unsecured credit card for larger investors. EUR only.

 

Documents and Account Opening Process:

  • Standard set of documents with apostille, plus proof of address.
  • Proof of source of funds.
  • Bank reference is preferred, but account may be opened without depending on the risk and transaction profile.
  • Personal meeting: can take place at the bank’s offices in Monaco, or we can arrange for the banker to travel to meet the client, but in this case the account must be pre-approved first.

 

Deposit requirements:

EUR 500k, could start at EUR 300k.

For further information on procedures and fees for opening your Monegasque offshore bank account, contact Offshore Pro Group today!