Private Bank Recommendations

[Forester]

Yes, I agree with your last thought in full 🙂 🙁.
Just adding –⁠ I forgot to mention it above – that even when there (I mean at British⁤ Crown Dependencies) is a possible problem with mutual communication (as of very different timezones) as⁣ @Sols has pointed out here https://www.offshorecorptalk.com/threads/private-bank-recommendations.46161/post-321840; the bankers there will not (IMO) look at the⁢ Vanuatu citizen and resident with the same prejudice as e.g. their CH/LI colleagues, they are︀ more accustomed to clients from “exotic” jurisdictions (of course, Vanuatu seems exotic perhaps for Europeans︁ as well as Monaco can be exotic for Vanuatuans).

 

[bountymounty]

I have a fortune of just under 1 million euros , is it possible to⁣ deposit the funds remotely into OCBC? The money is fully documented and completely legitimate. If⁢ I later want to have a meeting with them in person, does anyone know if︀ that would be possible?

 

[Clank]

I think you won't qualify for⁤ private banking but you can open an OCBC premier account remotely.

I would also have⁣ a look at Standard Chartered SG, this one needs to be in person but a⁢ bank representative travels to your country and you can meet at a hotel.

I can︀ also recommend Capital Security Bank in the Cook Islands, nevertheless it's not as cheap as︁ OCBC, but you get better asset protection, and it's a full reserve bank (they use︂ OCBC as correspondent).

 

[linusAG]

Hi,

You are not eligible for⁤ OCBC Private Bank (aka the Bank of Singapore), but you can open an account with⁣ OCBC Premier Private Bank. It's a low-end private bank with low requirements.

 

[bountymounty]

You sure it can be done remote⁠ all of it? I read somewhere that you need a local guy in Singapore to⁤ help you with the account opening ?

 

[linusAG]

Yes, but it also depends on your tax residence and citizenship.⁠ If you are a US tax resident, I think it will be impossible.

 

[Frankie]

I would avoid this bank,⁠ I don't think it counts as a "private bank" and not as solid as OCBC.⁤

With 1 million EUR, especially if you're willing to invest it in the bank's products⁣ or pay custody fee every year, plenty of Swiss or Liechtenstein banks will be happy⁢ to have you.

 

[AndyAresa]

do you⁤ know the annual custody fee of these banks for 1mln EUR?

 

[Clank]

I would avoid any bank that charges custody fee.

 

[Nigital Domad]

Is OCBC Premier Private Bank part of OCBC, or its own institution (and thats why lower‍ requirements, etc)?

 

[Frankie]

There is a site but I posted it once here and my‍ msg got deleted. You can google Swiss bank offshore account custody fee, or just google⁠ "filetype😛df swiss custody fee" and you will find plenty of pricing tables of banks.⁤

 

[linusAG]

It's not a really private bank,‍ it's some kind of VIP bank account with access to about 80% of private bank's⁠ products.

 

[CyprusLawyer101]

Guys
If there is interest for private banking with Cyprus banks I can help !‌

 

[Houdini]

What's the minimum amount to have to deposit?

 

[CyprusLawyer101]

Depends on‌ the risk profile of the client, so for a low risk client banks are ready‍ to accept amounts in the area of 500k.