Open an offshore bank account in Liechtenstein
Liechtenstein, together with Switzerland, is one of the main financial European centers in attracting capital. Its banks are the most solvent in the world but at the same time the most expensive ones, mainly due to the professionalization and experience in its banking system. Banks in Liechtenstein are known for requesting high deposits to approve a bank account and its clientele line is mainly made of large estate owners.
International companies are leaning on Liechtenstein banks to offer its services in Europe. Many entrepreneurs from all over the world choose Liechtenstein to have their IBAN account and to facilitate the commercial procedures between European Union countries in their business activity. Liechtenstein is also characterized by accepting E-Commerce companies due to the flexibility in its legal and banking system.
Banking secrecy and automatic exchange of financial account information
By now Liechtenstein has signed 48 bilateral agreements of automatic exchange of financial account information. Liechtenstein together with other countries is committed to eliminate bank secrecy for individuals and companies that hold non-resident bank accounts in the banks of all participating countries. What does this mean? On 29th of October 2014, in Berlin an agreement was signed with the purpose to exchange automatically the information on bank accounts opened by non-residents in other countries. By now the automatic exchange of information agreement has been signed by more than 100 countries (the countries that have signed information exchange agreement), however it doesn´t mean that the bank account information will be exchanged between all of them. That is, if two countries do not show a mutual interest in sharing banking information of their citizens between them and therefore do not sign a bilateral agreement, the OECD cannot force them to proceed with the joint exchange of information. For example, Liechtenstein has signed the automatic exchange of information agreement but will not exchange financial account information with all other participants and will only do so with the countries with which it has signed an additional bilateral agreement. Currently Liechtenstein has signed this agreement with 48 countries. You can see the updated information following this link (bilateral automatic information agreements). The bilateral agreements signed by Liechtenstein will affect the citizens of 48 jurisdictions, in particular those who hold non-resident bank accounts, eliminating completely the idea of financial secrecy and anonymity. The banking confidentiality of the rest of the countries that have not signed the bilateral agreement with Liechtenstein will not be affected, that is, the foreign banks will never report their financial information to the tax authorities of their resident country. The new regulations for the exchange of information have created many problems for and between some of the countries. The intention of European Commonwealth countries such as Germany, Spain, France, Italy and Liechtenstein was that all countries signed bilateral agreements with each other, but after all things did not go that way. In a real world it is hard to imagine Israel signing a bilateral agreement for the automatic exchange of financial information with Lebanon, Saudi Arabia, Indonesia or the Arab Emirates. Due to the “non-fiscal conflicts” that exist between these countries it makes it very difficult or even impossible for them to work together on elimination of banking secrecy.
Advantages of opening a bank account in Liechtenstein
The main advantages of opening a bank account in Liechtenstein are the following:
- Opening an offshore bank account Liechtenstein is legal.
- Bank secrecy and anonymity are guaranteed for the citizens of those countries that did not sign a bilateral agreement with Liechtenstein.
- The possibility to open business and personal offshore bank account in Liechtenstein remotely.
- High expertise level, online banking platforms with the possibility to request any type of financial service: foreign currency accounts, credit cards, letters of credit, accounts to invest in the stock market, payment gateways, credits.
- Professional financial advises for great fortune owners.
- Banks in Liechtenstein are extremely regulated.
- Once the requirements are fulfilled it takes 15 days to open the account.
Bank commissions in Liechtenstein
Approximate bank commissions and minimum deposit
Maintenance of bank account: 350 EUR/year.
Wire Transfer IBAN/SEPA: 5 EUR.
Wire Transfer SWIFT: 40 EUR.
Debit or Credit card: 70 EUR/card.
Customer support in following languages: English, Italian, French, German, Russian.
Minimum deposit: 5.000 EUR.
Personal or corporate (business) bank account in Liechtenstein
Current or savings bank account with or without physical presence
Accounts in various currencies: EUR, US $, GBP, CHF, JPY, AUD or CAD with online banking 24/7 included
Visa, MasterCard or Maestro debit or credit card in the name of the individual or company
24/7 customer service in English
PIN and card delivery to any part of the world
Copy of Passport
Copy of Personal Identity Card
1 copy of a utility bill not older than 3 months electricity, water, gas, telephone or bank statement
Bank reference or bank certificate not older than 3 months in English
*For business accounts apostilled and certified by a notary copy of corporate documents Articles of incorporation of the company, memorandum of association, register of directors, registered shares certificates and for companies registered more than one calendar 1 year ago “Certificate of good standing”
*The customer can open a bank account in any international legal currency they want, (Euro, Dollar, Canadian Dollar, Australian Dollar, British Pound, Japanese Yen, Swiss Franc etc)
*All the management at the opening of bank account do not need a physical presence in the country, all efforts will be made through e-mail and / or registered mail.