Liechtenstein private banking

[alextma]

Dear Member,

Israeli passport holder & tax resident is looking to open private bank account‌ in Lichtenstein to transfer his large savings from his EU / Israeli banks and use‍ its facilities such as credit card etc. Also, potentially for his EU/UK businesses. Would you⁠ kindly recommend friendly bank that can facilitate this either online or in person. Many thanks,⁤ gentlemen !

 

[Sols]

Cards can be a little tricky with some of them. Excluding banks that don't issue‌ cards (directly or through partner banks), sorted by roughly what minimum deposit range they expect:‍

500,000 EUR to 1,000,000 EUR: Bank Frick, Alpinum Bank.

1 – 10 million EUR: LLB,⁠ VP Bank.

10+ million EUR: LGT.

They might open corporate accounts as well, if your⁤ overall portfolio size is interesting enough and there is profit for them to be made⁣ from the business (commensurate with the risk of the business activities).

 

[alextma]

Thank you so so much, how do I start the process. Can I just walk‌ in to the bank with copy of passport,proof of ID & source of funds.

 

[JohnnyDoe]

Avoid Frick, they are not serious.
LGT is fine. Bendura too.
Israeli citizens are most‌ welcome, just take an appointment and go there in person.

 

[Sols]

Forgot about Bendura. I think they are in the 500,000 , 1,000,000 EUR range. Back‌ when they were called Valartis, they used to open personal and corporate accounts left and‍ right, including for offshore companies. Things have tightened since then but they are still quite⁠ friendly.

Yes, pretty much. Some let you start the process online,⁢ but they don't always follow up on emails.

 

[alextma]

Thanks, gents.

Which one is most straightforward, even in person ? Also do 500K have‌ to stay in permanently, ie what’s the minimu balance to stay 24/7

 

[JohnnyDoe]

Bendura is the most straightforward. You definitely need to leave some money on‍ the account and invest it with their products, probably 500k-1m min but you can discuss.⁠

 

[Sols]

I don't remember any recent experiences of new applicants showing up in person. The cases I've‌ seen have been arranged through introductions or setting appointments in advance. I would say Bendura,‍ VP Bank, and LLB.

They want to make money⁤ off of you. As long as they have a way of doing that, the minimum⁣ balance isn't strictly enforced. But if you dip and stay under 500,000 for too long,⁢ they may lose interest in you and close the account if you don't go back︀ up to the minimum.

 

[alextma]

Thanks so much guys again

 

[Marios]

Bendura is a good choice. I suggest that you go through an approved introducer with‌ success track record for peace of mind.

 

[Gediminas]

Hey,

Happy to help you with that. We⁣ are partnered with couple banks in Liechtenstein. Drop me an email and let's schedule a⁢ call to speak it through.

 

[Forester]

Just a question, motivated by curiosity (i.e. not⁣ of necessity to be answered 🙂 ) – why did you choose Lichtenstein and not, for⁢ example, Switzerland? (I do not think that this was a bad decision, I am just︀ asking.)
Otherwise, I am convinced that @Sols and @JohnnyDoe gave well-founded answers.

 

[alextma]

We were told it’s Cheaper⁤ and less beurocratic than Switzerland

 

[Forester]

Well, I cannot tell much about the level of bureaucracy, except for that in Switzerland‍ it is really rising; but – IMO – Lichtenstein is not cheaper than Switzerland... maybe⁠ just the opposite. But it depends on the particular bank and the solution offered, of⁤ course.

 

[nobel]

Liechteinstein is definitely too expensive! Custody fees at least 0,40%, calculate what you have to‌ pay. At 1 million euros, that's 4.000€ fee for nothing.
At Swissquote you pay a‍ maximum of 200 CHF no matter how many millions or billions you have, lol. 😎

 

[alextma]

Thanks for that.

What’s the minimum balance required at Swissquote ?⁤

 

[nobel]

1€/$

 

[alextma]

Swissquote can open bank account remotely for non-Europeans and give them full banking facilities with‌ credit cards? Any other banks

 

[nobel]

Yes, i live also non-EU‍ and bank account remotely open with credit card.

 

[alextma]

Any other Swiss banks that offer bank accounts for non-EU residents without €500K deposit requirements?‌ I meant more like real banks or wise.com style banks