Luxembourg is a stable and reliable jurisdiction, one of the most popular financial centers in Europe and in the world. Luxembourg’s success as a financial center is based on social and political stability, as well as on a modern regulatory framework that is continuously being updated as a result of regular negotiations between the Government, legislators and the private sector. Luxembourg’s financial sector can offer corporate clients a wide range of services and the highest level of quality. In this regard, we are ready to offer you the opportunity to remotely open a corporate account with the East West United Bank (Luxembourg).
Luxembourg’s differentiating feature as a financial center is the strong investor protection culture and strict anti-money laundering policy. Specialists of the Luxembourg financial sector speak many languages, are conventional financial experts and have extensive knowledge of the clients’ needs.
The East West United Bank is ready to open accounts to individuals and businesses, including trading companies. The bank works with beneficiaries from different countries (except those under the international embargo), including post-Soviet states (Kazakhstan, Azerbaijan, Tajikistan, Uzbekistan, etc.).
The minimum required account balance is 500,000 EUR cumulatively for all accounts of the beneficiary. The bank may ask for a larger minimum balance if the beneficiary’s background proves to be very complicated.
The origin of the funds should be clear and legal. The company’s beneficiary must be appropriately reflected in the company’s incorporation and corporate governance documents.
East West United Bank
The East West United Bank was founded in 1974, after a meeting of the ministers of the Soviet Union and Luxembourg which resulted in the establishing of a Soviet bank in Luxembourg. Luxembourg as a financial center was growing rapidly, and the Soviet Union sought to expand its banking presence in Europe. The East West United Bank was one of the first foreign banks in Luxembourg to promote trade relations between the Soviet Union and the Benelux countries.
A special advantage of the East West United Bank for our clients is that in addition to the conventional foreign languages this bank speaks Russian and is focused on ensuring that the proposed solutions are correct both in terms of Luxembourg law and in terms of the legislation of other jurisdictions. Strengthening its position in the Eastern European markets, the bank is also working to expand its client base in Western Europe.
The East West United Bank is an excellent option for those looking for a reliable financial partner in Europe. A reliable and stable jurisdiction with up-to-date legislation together with forty years of professionalism in the banking sector shape the necessary conditions for long-term and productive cooperation.
Corporate Client Services at the East West United Bank
The East West United Bank offers its corporate clients a full range of corporate banking services, ranging from transactional products and services to comprehensive structured solutions at the holding level of multinational companies.
The bank’s clients are medium-sized companies as well as large corporations and financial institutions. Qualified and experienced specialists of the East West United Bank provide comprehensive assistance in selecting customized solutions for corporate clients of all dimensions, focusing on their individual priorities and goals.
Corporate Lending at the East West United Bank
The use of a large set of instruments, as well as various types of lending, trading and structured financing services, gives the East West United Bank specialists the opportunity to meet the needs of your business both at the operational and holding level.
The bank’s experts propose the development of individual solutions in the field of corporate financing, i.e. the acquisition of assets, securities, and other operations both in Europe and in the CIS.
Using the international experience of its team, the East West United Bank offers flexible lending opportunities to the companies that conduct international trading activities or own assets abroad.
The East West United Bank Payments and Liquidity Products
Clients of the East West United Bank can enjoy a wide range of payment technologies available to them, including:
- Services of opening and maintaining accounts of legal entities and individuals in major currencies (US dollar, euro, pound sterling, ruble), as well as in other currencies;
- Bank transfers providing support to the business operations;
- Use of payment instructions, such as transfers with a given frequency, cross-border transfers, direct debit (non-acceptance write-off) and etc.;
- A wide choice of trade financing and payment instruments;
- Opportunities for optimizing working capital: term deposits in any convertible currencies, the possibility of prolongation on a personal or fiduciary basis; conversions (all major currencies), forward and spot;
- E-banking as a pro-active and efficient account management instrument used remotely.
Global Markets and Financial Management
The East West United Bank offers its clients from both Europe and the CIS countries both standard and innovative financial management mechanisms:
- Brokerage services;
- Hedging;
- Asset management;
- Structured products.
Procedure of Opening a Corporate Account with the East West United Bank Remotely
- First of all, you need to decide to open a corporate account with the Luxembourg-based East West United Bank and contact us for a professional advice and assistance in opening your account by email to: info@offshore-pro.info.
- After that we will ask you to pay for the support and assistance in opening a corporate account with the East West United Bank in accordance with the service agreement. The payment can be made by bank transaction, card, via PayPal, WebMoney, Western Union. The fee for the service to be provided will be 2999 EUR.
Additional expenses for trading companies include the account maintenance fee of 800 EUR per month (this amount can be reduced if a significant savings account is opened along with the corporate account).
- And finally you will collect and present the documents necessary for opening a corporate bank account with the East West United Bank.
In order to open a corporate account, any and all beneficiaries and signatories of the account will need the following:
- Notarized copy of your travel document (pages with your photo and signature).
- Proofs of residence (utility bills);
- Notarized copy of your utility bill, or an original of your utility bill, or a bank account statement to confirm your residence address.
Note: This document must be no older than 3 months by the time the account-opening package is submitted, and it must be translated into English and notarized. –
- Proof of non-criminal origin of funds: tax declaration or certificate of earned income from your employer, etc.
Companies must have the following documents (At the initial stage you can simply provide their scanned copies without apostilles and notarization. These copies will be used for the initial due diligence check):
- Depending on the jurisdiction: Original copy or an apostilled and notarized copy of extract from the Commercial Register / Certificates of Good Standing and Incumbency (no older than 1 year).
- For all interim shareholder levels between the ultimate beneficiary owner and the company opening the account (Reviewing these documents EWUB can verify who exactly is the beneficiary owner of the company opening an account with EWUB):
- Documents similar to those mentioned in clause 1 (no older than 1 year old);
- Trust Agreement / Fiduciary Agreement;
- The latest version of the Articles of Association or its equivalent as a notarized and apostilled copy;
- Certificate of Incorporation as a notarized and apostilled copy;
- Powers of Attorney (if applicable);
- Notarized copies of passports: beneficiary owner (owners), directors and trustees (if applicable).
- The company’s financial statements for the last two years.
Note: To open an account, you must deposit a minimum required balance of EUR 500,000. These funds will not be blocked, but they will be placed in banking instruments.
How Do I Get My Documents Certified Under the Law of Luxembourg?
EWUB can only accept clients’ documents if they are certified in any of the following ways:
- Copies certified by a notary or registration agent and apostilled accordingly;
- Copies certified by an agency under the financial supervision of a regulator in the country that has reached the necessary level of development in terms of anti-money laundering procedures;
- Copies of the original documents that must be made and certified in the presence of an EWUB employee.
The KYC Procedure
The Know Your Customer (KYC) procedure requires basic information about the nature of business that the company is going to carry out with EWUB:
- What kind of business does the company plan to do with EWUB?
- What is the nature, volume and frequency of payments, both outgoing and incoming?
- Where will the funds come from and to whom will they be transferred (the main counterparties)?
- How were the beneficiary’s funds earned, what is their source?
Should you have any additional questions related to opening a corporate account with the East West United Bank (Luxembourg), please feel free to contact our experts by email to: info@offshore-pro.info.
