Sure, but I already gave hints in other posts 😉
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Question Liechtenstein private banking
- Thread starter alextma
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Oh yes. Now I understand what you mean ”“ and I agree with you at this point.
(Remark: To make a judgement really enforceable abroad is IMO still not quite simple even between the countries engaged in Lugano Convention; but it is not the core.)
See this Question - Liechtenstein private banking post of @Konstanz...
Do you have in mind an accusation of money laundering, making a child pornography or similar wrongdoing that would be eagerly processed even by Liechtenstein institutions? (Because otherwise, it is true that it is not so cheap and simple to start a court case in Liechtenstein...)
None, I would say ”“ and I guess that this is what you mean 😉
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
I'm not talking of a formal accusation, just of a Google search result. All what it takes is someone who writes a defamatory article on you, and the bank will act without the need of a court order.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Well... yes, it might happen nowadays, unfortunately. Nevertheless, I still think that such an article should concern something like I have mentioned above, to trigger an action. But ”“ fortunately ”“ I have no personal experience with such an issue, so difficult to judge.
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
Remember that money laundering can be attached to just any kind of supposed wrongdoing. In fact, it's the usual trick used by state authorities to freeze accounts for whatever reason, including tax evasion, which is not a crime in many countries.
Whereas a defamatory article can claim about anything and then it will be up to you to prove it false in a court, which can take months or years. Meanwhile the bank (which might have been alerted - anonymously - by the author of the article) will freeze the account, or, in a best case scenario, close it because of “reputational risk”.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Horrible. But probably possible, at least in some cases. 🙁
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
I am not talking about AML, compliance , tax, criminal cases. I am talking about disputes between business partners and similar. When you have civil court decision in Romania enforceable in Germany for example 🙂
Yes, of course; I have understand what you meant. Further reaction of mine is to @JohnnyDoe's warning (that is, unfortunately, not just a paranoia...)
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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂
If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...
From your mentioned needs here the only Bank in Liechtenstein with some Retail Banking Offering means: Current Account, Debit Card an normal Wire Transfer Charges is LLB (Liechtensteinische Landesbank) - they onboard even FZCO with 500.000 EUR in Dubai DIFC Branch so I can imagine for Personal Account it could be even lower.
All the other mentioned banks are Private Banks charging you 100 CHF for a Wire Transfer sometimes even have a Credit Card / Debit Card only some EU Cards /Local Cards like Maestro and want to have at least 350.000 CHF in invested Assets like Bendura - they even have issues with being used for daily transaction purpose.
If it doesn't need to be a Liechtenstein Bank just use Swissquote in Switzerland like already mentioned here.
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Who do you bank with, if you don't mind to share?
What would be the purpose of using a private bank like LGT? Do you know if they offer self-directed accounts?
Some of you guys are doing serious money!
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The Bendura and all LI bank fees are crazy. Custody fees 0,35%, stock market purchase 1,90% and many other fees! No thanks.
0.35% is not high for PV if you have less than $5M but the transaction fee is extremely high.
But you receive a nice Xmas gift and you are invited to the annual polo event smi(&%
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
You get what you pay for. Pay peanuts, get monkeys.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
No need to pay high amounts for private banking if you choose the correct one.
DBS bank is one of the safest banks in the world with a credit rating of AA-. If you have $5M, they can easily offer you a 0.15% custodian and %0.10 transaction fee.
Exactly, which leads you to question what people would pay 1.90% on purchase and 0.35% custody - people with shitty structures from bad jurisdictions that DBS won't touch with a ten foot pole. Ask yourself if you want to be banking in the same bank as these people...
Rule of thumb: If some of the shadier people on this forum say that a bank accepted them, maybe best to avoid that bank
if you need to save 1% to be happy you have a sad life ki#¤%
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Actually it is not only 1%. Think bigger. It is 10% for ten years which means $1M fee for a $10M portfolio 😉
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