Personal Account Opening With A Monaco Bank Which Is Well Regulated And Offers Multi Currency Accounts.
The Offshore Pro Group offers you the ability to open a personal account in Monaco with a bank that offers the following benefits:
- Well regulated European bank
- EU Secured Deposit Scheme
- Wide range of investment products
- Multi currency accounts available
- Focus on private banking
- Good online banking
Contact us via email email@example.com for totally professional advice about opening a personal account with this bank in Monaco. It is highly recommended that you initially go through the steps on this page Free Professional Advice On Choosing A Foreign Or Offshore Bank Account.
The Jurisdiction Of Monaco
The Principality of Monaco, more commonly known as just Monaco, is a sovereign city micro state situated on the French Rivera in Western Europe. The population of Monaco is around 38,000 people and is governed by a constitutional monarchy. Monaco is a full United Nations voting member.
The regime in Monaco is politically stable and it has been ruled by the Grimaldi dynasty for over 700 years. French is the official language but English is also widely spoken. Services dominate Monaco’s economy and account for 95% of their GDP. The economy sectors are diverse and include finance, trade, construction and real estate.
It is estimated that the per capita income of the country is $188,400 and the economy has seen growth since the financial crisis of 2008/2009. There are no taxes on assets in Monaco and revenues, direct transfers and landed property are also tax free. Monaco uses the Euro (EUR) as its currency and it is a part of the European Union (EU) through an agreement with France.
The banking regulations in Monaco are very strict and the priority is to protect investors. Stringent standards are in place to prevent money laundering and to protect bank accounts. Monaco observes the rules when it comes to international cooperation and it maintains a high degree of banking privacy and banks can be heavily penalized if they break these rules.
The banking industry in Monaco is primarily focussed on financial investments and the protection, diversification and growth of assets. There is a continuous rise in financing and credit activities and the mutual funds of the country are continuously growing. It is a very safe jurisdiction for you to invest your money.
As it is a part of the EU, Monaco is able to offer the Deposit Guarantee Scheme. This scheme has an aim to cover investor’s bank deposits. It is unlikely that a bank in Monaco would end up in default and couldn’t meet its obligations; but if this was to happen then 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.
The Private Bank In Monaco To Protect Your Assets
This bank can trace its roots back to 1930 and it is one of the largest banks in Europe with assets in excess of 23 billion Euros (EUR). It became a private bank in 2011 and now focuses entirely on the needs of private banking clients.
It is the mission of this bank to utilize the banking group that it belongs to and provide the highest quality services possible to its clientele. The bank will want to establish a long term relationship with you which is based on mutual trust. They will want to discuss your financial goals and work together with you to achieve them.
After discussing your financial requirements the bank will adapt and tailor their management to provide the services that you need to achieve your asset objectives. Their purpose will be to ensure that your assets have long term durability and they are continuously growing.
The bank has adopted the core values of the Principality of Monaco which are characterized by stable growth, an attractive financial and banking environment, stable governance and transparency to the international community.
The employees at the bank are highly trained and qualified and there is a team of experienced private bankers and financial specialists at your disposal. The management of the bank will respond to your requirements in a competent and discreet manner.
Services Offered By This Monaco Bank For The Protection Of Your Assets
This bank will not allow you to open a non resident private account remotely, which means you will need to visit the bank in Monaco and meet with a bank representative. Once your personal account is open you will have access to a number of investment products that will provide growth of your capital.
This bank provides multi currency accounts, making it is possible for you to hold one currency or multiple currencies in your account. You can hold funds in US Dollars (USD), Euros (EUR), Russian Rubles (RUB) and a number of other currencies.
The bank has a rich history of successfully proposing and developing investment strategies. Using these classic methodologies of wealth management and investment avoids the need to take unnecessary risks and face major challenges.
Despite its classic approach to investment, the bank uses modern technology to ensure total control of any investment risks using a range of innovative tools. It uses a five step strategic approach to investments which starts with understanding the needs of clients and their profiles, defining management objectives, the development of the investment strategy, implementing the investment and monitoring and controlling the results.
The investments with the bank are flexible and will contain a mixed investment portfolio. The positions held in stocks will be adjusted according to the client’s investor profile and the strategies will include fixed income, mixed and the stock market. You will be able to agree on a moderate profile, a medium profile and a high profile. The bank will also utilize trading and emerging markets investments.
The bank is also able to offer other services such as life insurance that can be used as a protection tool for your assets and the policies can be dedicated or unit linked. Their wealth planning services include tax and inheritance planning as well as property and asset protection.
The bank can offer a debit and credit cards that are branded by Visa and American Express. These cards have a personal photograph on the back of the card to defend against fraud. You will be able to use the cards anywhere in the world and cash is obtainable from most ATM machines too.
There are different choices of credit card available from the bank and these are the Visa Classic, Visa Travel, Visa Gold, Visa Somnis, Visa Gold Somnis and Visa Platinum. Each one of these cards will have different credit limits and some will allow loans to be granted with flexible payback terms.
For 24/7 access to your private account you can use the highly efficient online banking service that is offered by this bank. The service has a modern and friendly interface and will allow you to fully manage your cash payments as well as your multi currency account. You can check balances and view recent transactions and obtain full statements for your account.
With the online banking service you will also be able to conduct financial transactions and manage any credit cards that you hold with the bank. You can request the services of an independent financial advisor using the online banking service and you can also make stock market transactions.
The minimum deposit required for a private bank account is one million Euros (EUR). You must maintain a minimum balance of 500,000 Euros (EUR) in your account at all times. This must not be a transit account.
The transaction fees that the bank charges can be subject to change, so it is important that you check the current fees with your Offshore Pro Group international banking consultant. If you are interested in receiving the very best rates, you can state that you require beneficial international banking fees when you complete the international bank selection form.
To Open A Private Account With This Bank In Monaco Please Follow This Process
In order to be successful in opening a non resident private account with this bank in Monaco it is essential that you follow this step by step process:
- Contact us via email firstname.lastname@example.org for totally professional advice about opening a private account with this bank in Monaco. It is highly recommended that you initially go through the steps on this page Free Professional Advice On Choosing A Foreign Or Offshore Bank Account.
It is vital that you fully understand the risks of non resident banking in today’s climate and strongly consider opening a second foreign bank account.
- We will provide total professional assistance to you in opening a private account at this bank in Monaco, and for this you will need to pay a fee of 2999 EUR. You can pay by credit card, bank transfer, Money Gram, Western Union, Web Money or even Bitcoin.
- The bank will require all proposed account signatories to supply notarized and apostilled documentaion in English (or translated into English) to open a private account. You will need to provide:
- A certified (notarized) copy of the passport (the page that has the photograph and signature) or a valid ID card
- An original utility bill (which is less than two months old) or a bank statement that provides proof of address.
- A complete biography for each account signatory that includes oersonal background, business interests, their location and sources of income
- The purpose of opening an account and information about planned operations
- Confirmation of the origin of your funds
Important Note: You will be required to attend a meeting in Monaco with a bank representative prior to opening an account.
Once you have submitted all of the required documents we will check them thoroughly and pass them on to the bank as quickly as possible. You will need to arrange to visit the bank and then wait for around 20 business days for your Monaco private foreign account to be opened at the bank.
To begin the process of opening a private account at this Monaco bank, please contact us by email email@example.com