We offer you the opportunity to open a corporate account in Monaco with one of the most respectable banks in the jurisdiction.
Opening of an account is our made-to-order service, but the current strict compliance requirements prescribe that every customer of the Bank should meet with their banker in person within one month after opening the account. The meeting can take place either in or outside of Monaco. If you decide to deposit over €5 million, the banker will visit you in person.
To open a corporate account in Monaco, you need to guarantee a minimum account balance of EUR 500,000. At the same time, the Bank does not consider financial operations with the account as its main area of activity, but rather as a consulting service of financial asset management.
The Bank recommended by us for opening your corporate account is a reliable credit and financial institution with more than 85-year experience in Private Banking. In 2001, after many years since its foundation, the Bank was incorporated anew through the merger of two family banks. Over time, this allowed the Bank to become one of the largest and most sustainable European banks. Its solid growth has been particularly impressive since the internationalization initiative undertaken in 2008 that now allows the Bank to operate on two continents in 12 countries, including Monaco (since 2011). This international scope is its main key to success. As of July 2020, its total net assets were nearly €26.53 billion, up almost 10% on the previous year.
Unlike many Banks that suffered a serious blow from the financial crisis of 2008, the Bank developed rapidly and confidently even in post-crisis times.
In 2020, Banks across the world have faced negative rating momentum as a result of the coronavirus pandemic, oil shock, and market volatility. However, as of April 2020, Fitch confirms the Bank’s BBB rating. The current high level of capitalization and liquidity is a guarantee that the Bank’s clients can feel relaxed and the Bank can work steadily in many of its branches.
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Investment with the Bank
The success of tailored investment strategies offered and developed by the Bank individually for each client has earned respect and trust.
The Bank adheres to the classical principles in wealth management and investment. This approach protects against many risks and problems. However, it is not too conservative when it comes to the application of innovative tools.
The process of strategic investments involves five steps:
- analysis of the customer profile and needs
- focus on the management objectives
- development of the investment strategy
- execution of the investment
- monitoring of the progress and control of the results.
The Bank works in close cooperation with its customers, and only on an individual basis. This enables it to focus on the three main principles of successful capital growth in the future:
- trust (discretionary management)
- knowledge and advice (consulting)
- custody (protections of the client’s wealth).
Discretionary Management
A dedicated team of financial market professionals manages the clients’ portfolios. This team involves international experts who manage the clients’ assets according to the chosen strategies, continuously adjusting and monitoring risk levels and projected returns.
Absolute return fund management
Absolute return fund management is aimed at the protection of the clients’ capital under the harshest conditions of the market volatility. This strategy also implies more flexible solutions when the Bank’s analysts find it absolutely necessary to adapt the investments according to the market situation in order to obtain the best returns.
Directional or traditional management
As part of the directional management approach, clients’ portfolios are managed according to dynamic allocation, using all asset classes, across every geographic zone and sector. One or more market indicators are taken for the main reference points. The assets thus invested in the portfolios are highly sensitive to financial and market fluctuations. So, here too, it is important to be guided by a sensible approach and understanding of the market. And this is exactly what the Bank’s experts offer.
In this strategy, it is vital to maintain the best possible balance in the investment choices, according to the investor’s risk profile, in order to maximize the risk/return ratio over the long term. This is the only way to growing future profit.
Personalized management
This method of investment management is intended for major investors who need constant assistance and professional advice. Maximum return on investment is achieved through close cooperation with the client and understanding of their goals and needs. Portfolio allocations are adapted and adjusted on a continuous basis, based on market conditions.
Inheritance planning
Solid capital and assets require timely inheritance planning. This takes much more than just a will writing. The strategic design of future capital management takes time and is absolutely essential.
The Bank focuses on in-depth study and analysis of the family strategy, while attracting not only the Bank’s consultants but also the corporate professionals to designing the adequate protection and stable growth approaches for the future capital growth – after the next generations inherit it.
Family offices
Besides the asset management and inheritance planning tasks, the Bank focuses on the family business development, which often is the foundation for building the capital to be managed.
Financial strategies designed for families allow for the smooth preservation and growth of capital in the long term. All solutions are under the careful monitoring and control by the best experts, professionals, and analysts of the Bank.
The Bank helps family offices invest not only in classic investment products, but also in the most diverse sectors of the economy, charity and arts.
Charity with the Bank
In addition to investment services, the Bank offers its assistance in charity activities. This service is meant for certain categories of clients who wish to diversify their investments and invest in socially meaningful projects or activities.
The main charity services involve the following activities:
- creation and strategic planning of funds
- donation planning
- fostering of the philanthropic traditions among members of the same family
- income investments in support of a good cause
- optimization of tax payments.
A corporate account in Monaco with the Bank
The Bank offers its customers a corporate account, which will allow them to successfully invest and manage their assets. Since the Bank is an investment bank, the minimum balance of the account should be 500 thousand euros.
Internet Banking
To ensure the clients’ continuous access to their funds as well as full control of investments, the Bank provides a modern internet banking platform with a user-friendly interface.
The e-bank provides the 24/7 access to funds and also allows the following operations:
- financial transactions with assets on the account
- communication with an independent financial adviser on investment issues
- transactions on stock markets
- management of the bank cards
- control of the balance of accounts on credits and loans
- management of cash payments
- management of a multi-currency account.
A special offer
The Bank offers its customers a unique banking product (Odyssey) – tailor-made solutions from independent experts who consult the client and help in the account administration.
With this financial tool, clients will be able to optimize their portfolio of financial assets and implement an effective financial strategy.
VISA cards from the Bank
The Bank provides its customers the opportunity to purchase a VISA credit or debit card with the holder’s personal photo on the back of the card. Such VISA cards will ensure much better protection from unauthorized external attempts to get access to the assets.
The clients can obtain the bank cards of the following kinds: Visa Classic, Visa Travel, Visa Gold, Visa Somnis, Visa Platinum.
With any VISA bank card from the Bank, it is possible to request a service of notification of all transactions effected on the card. The cost of this service is only 50 euros.
| Products | Possible operations |
| Visa Classic | – safe payments over the Internet- a wide range of possibilities for making payments with fee-free financial support- personal accounting reports with the distribution of payments by different categories- access to a wide network of ATMs all over the world |
| Visa Travel | – discounts during travel and business trips- free use during the first six months after issuance of the Visa Travel card – SMS notification |
| Visa Gold | – enhanced security and convenience, as well as simplified cash withdrawal – safe shopping via the Internet- guaranteed seamless operation of the card when making transactions in any country, and excellent reputation and exclusivity of the Visa Gold brand- the credit limit can grow depending on your needs- detailed accounting reports with the distribution of payments by different categories- protection of the card against unauthorized use and hacking due to the electronic chip and photo of the owner on the backside of the card, plus the travel accident insurance and extended user support- the Visa Gold cardholder can count on additional preferences and more personalized service by the Bank employees- SMS notification service is available as an option |
| Visa Somnis | · loans are available through a flexible lending mechanism and the choice between two options of repayment of the commission on the granted debt (interest rate or fixed amount). In this case, the interest rate ranges from 4% to 50%, while the one-off fee will be at least €30 |
| Visa Gold Somnis | · availability of a loan at any time of day with a choice of two options for repayment of the commission on the granted amount (in case of choice of interest rate the minimum value is 5%, whereas in case of choice of fixed amounts the minimum value is 150 euros)- an optional SMS alert service is available |
| Visa Platinum | an even higher credit limit- optionally – a personal manager, as well as a unique bonus of the access to MS Global Service- card protection against unauthorized use and hacking: an electronic chip and photo of the owner on the backside, plus the travel accident insurance.· – detailed monthly reports covering all types of card transactions and separate statements by the country and sector- a global ATM network of more than 800 thousand devices worldwide – SMS-notification service is optional. |
How to open a corporate account in Monaco
- To get the Offshore Pro Group’s service of opening an account with the recommended BANK, you should contact us by e-mail at info@offshore-pro.info.
- Next, you need to pay a fee for assistance in opening an account with the Bank. The commission for services can be paid by card, via Western Union, WebMoney or by Bank transaction. The cost of the service is 3999 EUR.
After the commission is paid, we begin the process of filing your documents.
To open an account, the following documents will be required from individuals:
- A notarized copy of a valid international passport or another identification document, which needs to feature the pages with a signature and a photograph.
- Proof of residence, this must include copies of utility bills or Bank statements (credit cards) that show a valid residence address, which is necessary to confirm the address.
Note: the dates of the utility bills by the time of the documents’ submission should not exceed 2 months, the papers must be translated into English, be certified by a notary, and state clearly the address of the individual’s residence.
- professional CV of the account holder
- purpose of account opening and categories of the planned transactions
- proof of the wealth origin
- completed and signed forms – the Bank application form for opening a corporate account and the special FATCA form
- a complete set of corporate documents:
- Certificate of Incorporation
- Memorandum and Articles of Association
- Resolution on the appointment of the head of the company (resolution about the appointment of directors, the power of attorney or another document)
- Certificate of Good Standing if the company was incorporated more than one year ago
Additional documents may be requested by the Bank.
Note: All documents must be translated into English, notarized, and apostilled.
If you are the only natural person who will be the signee of the application for opening a corporate bank account and you are going to be the only beneficiary, you will need only one set of documents for the natural person.
To start the process of opening an account with the Bank in Monaco, please email your questions, needs, and requests to us at info@offshore-pro.info.
