Non-residents do not have to plan a trip to open a personal account to Liechtenstein. All local licensed banking institutions provide remote customer services. All you need is professional advice to choose the right bank in this jurisdiction for setting up a suitable bank account. Then you can send your papers via email and appoint an authorized legal agent (if you are not able to go in person to the bank of your choice) to submit the notarized copies of documents and sign the documents on your behalf.
E-banking has become part of classical banking in Liechtenstein. Bankers accept the scanned copies of application documents online. Applicants wishing to open a personal account to Liechtenstein are interviewed via video conferencing. Customers are able to make electronic payments, control their assets via internet banking, and use customer web support. With a mobile application, you can enjoy round-the-clock access to your bank account from wherever you have access to the internet.
You will find that it is relatively easy to open a bank account in Liechtenstein if you know and follow all requirements and recommendations. However, please remember that online applications are normally not accepted from individuals for security reasons, to protect your private data and bank secrecy. That is why you or your authorized agent will need to visit the bank personally.
Our experts specializing in opening customers’ accounts are ready to consult you for free and provide services (for a fee starting from 2999 EUR) to help you successfully choose the bank, fill in the application, compile the required set of documents, issue the POA if needed, and get the application appropriately signed and submitted. Your account will be available within three weeks. You can send us your questions to info@offshore-pro.info.
How can a non-resident benefit from opening a personal account in Liechtenstein?
The Liechtenstein banks are considered among the most reliable in the world. A holder of a personal account in Liechtenstein, having deposited savings there, does not have to worry any longer about the safety of his/her funds, and can be sure of being able to maximize them. Public banks guarantee to their private clients the full coverage of their savings deposits in Swiss francs.
Liechtenstein is recognized internationally as the best ‘safe haven’.
The main advantages of banking services in this jurisdiction rely on guarantees of absolute confidentiality of private data. Liechtenstein, with its largest share of GDP generated from banking revenues, does not share personal data upon request and does not collaborate with virtually no other countries. The exception is the United States, with which the Principality has a special legal agreement.
However, the secrecy laws in Liechtenstein are waived in the case of criminal intents. Moreover, Liechtenstein does not welcome illegal and criminal money-laundering operations. In that regard, bankers prefer to cooperate with persons whose income is legal and whose business is straightforward.
With a personal account in Liechtenstein, you get top-class service and access to a wide range of banking and financial services. Your individual bank consultant will offer you many tools to increase your income and advise you on all matters of interest.
As a compelling example, we recommend LGT Bank – the largest bank in the jurisdiction. It is owned and managed by the Princely House of Liechtenstein and offers a wide variety of services in private banking and asset management and acting as a universal bank.
We can recommend and help you contact other reputable banks too when we know your needs in opening a personal account in Liechtenstein. Please contact us at info@offshore-pro.info for more information.
What restrictions should be considered when you open a personal account in Liechtenstein?
Liechtenstein banks guarantee 100% confidentiality and non-submission of information to other states. In order to avoid the risks of assisting terrorists and criminal offenders, they are therefore selective in their choice of clients for whom they would open a personal account in Liechtenstein. There are a number of restrictions concerning the individual’s country of origin and type of business activity (origin of income).
Limitations by country
Individuals from the following countries will not be allowed by banks to open a personal account in Liechtenstein:
- the United States residents or registered taxpayers
- the so-called hotspots such as Afghanistan, Iraq, Iran, Libya, the Central African Republic, the Republic of the Congo or North Korea.
Please note: The above-mentioned list is subject to possible updates, due to the changing global geopolitical situation and COVID-19 pandemic. For most up-to-date information, please refer to our experts at info@offshore-pro.info.
The most desirable customers of Liechtenstein bankers are applicants from certain countries and regions that are considered by banks very attractive for different reasons. They particularly welcome clients from Europe, CIS, China, Turkey, and South America (some countries).
Limitations by type of activity
Liechtenstein banks choose to cooperate with businessmen and private investors whose business is clear and consistent. Criminals and those who launder illegally obtained funds are not accepted by banks in this jurisdiction.
Non-resident individuals who generate income from the following activities will definitely not be able to open a personal account in Liechtenstein:
- financial services
- cryptocurrency trade
- online marketing
- online gambling (betting, casino, lotteries, etc.)
- legal arms trade
- trade in art objects and precious metals in large quantities.
Entrepreneurs who trade commodities can cooperate with banking institutions in this jurisdiction without any problems at all. There will also be no obstacles for those individuals who receive income from holdings or work in the IT sector and do not participate in dubious and non-transparent business or transactions.
Terms of cooperation
Eligible customers will need to maintain an annual turnover of at least USD 3-5 million to be allowed to open a personal account in Liechtenstein. To begin with, the bank will require a deposit of $300,000 (or the equivalent in another currency), or a portfolio of securities worth that amount as collateral. This will need to be done within the first half of the year after signing the contract.
If the annual turnover exceeds 250 payments, the bank will demand an increase of the deposit amount. Reliability is an important prerequisite for cooperation with Liechtenstein banks. The permanent balance must not be less than 5,000 in the selected currency.
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Non-resident personal accounts in Liechtenstein for foreigners
When you open a personal account in Liechtenstein, you get access to multi-currency bank transactions, fixed deposits, SWIFT money transfers – all within the framework of one agreement.
Account currencies
It is possible to conduct banking transactions in the following currencies:
- Swiss francs (CHF) is the official currency of the Principality;
- US dollars (USD);
- euro (EUR);
- pounds sterling (GBP);
- other currencies upon client’s request
Types of bank accounts in Liechtenstein
- Current accounts are usually non-interest bearing deposit accounts that are designated to perform day-to-day banking transactions via internet or other secure channels of data transfer.
- Trading accounts are used to execute trade transactions involving buying and selling financial instruments, for example, stocks, bonds, futures, and options. Trading accounts can hold both cash and securities. Holders are given secure access to securities. Bankers can provide advice on investment and trading matters.
- Metal accounts. For operations with precious metals – clients get access to channels for the sale and purchase of such values. The bank provides services not only for storage of such valuables but also ensures their delivery to another place of storage.
- Investment account enables clients to manage their investments professionally.
Bank cards
Banks in Liechtenstein do not emit payment cards themselves. However, they do issue cards to their customers through cooperation with Swiss providers. It is possible to order the following cards:
- Credit cards (VISA, Mastercard)
- Debit cards (Swiss Travel Cash).
To get a credit card, the client needs to submit an application with an order for the issuance of the bank guarantee and sign the Deed of Pledge. The bank will deposit 110% of the requested limit on the client’s separate account as collateral. Your access to this deposit will be blocked by the bank for the duration of the card use, and the bank will pay from your account the monthly credit card bill according to the Swiss provider’s statement of the transactions of the previous period. It is in your personal interest to examine the credit card statement regularly. Please note that your credit card application can only be approved if you keep a minimum balance agreed with the bank in Liechtenstein on your account with it.
The Swiss Travel Cash debit bank card can be obtained in Liechtenstein if you need to withdraw cash from ATMs, and it can also be used to pay for goods or services wherever Mastercard is accepted.
According to the established privacy policy of banks in Liechtenstein, the cards are anonymous, bearing no information except for the card number. The maximum card limit is 10 000 currency units (in the chosen currency), the maximum annual card payment turnover is 100 000 currency units. One client is allowed to obtain a maximum of two cards.
Card fees:
- Processing fee – CHF 300.00
- Guarantee Issuing fee – CHF 500.00
- Annual fee – CHF 200.00
- ATM transaction fee – CHF/EUR/USD 5.00
- Direct deposit fee -1.5%
- Cashless payment fee – CHF/EUR/USD 1.00.
Internet banking
Remote management of funds is performed via Internet banking. This convenient service is widely popular. To use it, the client will have to pay only CHF 500 per year. The fee will be deducted quarterly in installments.
Banks’ tariffs
Bank commission depends on the type, urgency, and amount of the transaction. Standard services are paid at approximately the same rates:
- opening — CHF 500
- closure — CHF 1 000
- service — CHF 500 / year
- transaction cancellation and retrieval — CHF 50
- payment (incoming/outbound) — 0.125% of the payment amount (min CHF 125; max CHF 1 250)
- immediate payment— 0.25% of the payment amount (min CHF 250; max CHF 2 500)
- capital flows fee for intangible transactions — 0.125% of the payment amount (min CHF 250)
- custody and management of client assets – 2.5% for Swiss securities and 3.5% for others (min CHF 100)
- storage of precious metals and coins – 5% per year
- transactions with precious metals – 1%.
Fees for stock exchange transactions, management of client’s securities and other assets differ for each bank.
Retail clients can also use other services provided by banking institutions, such as mail storage, the order of bank statements, etc.
Please note: All prices mentioned in this article are subject to possible revision by the banks in Liechtenstein. Therefore, when deciding to open a personal account in Liechtenstein please refer to our experts at info@offshore-pro.info for an up-to-date schedule of rates and fees.
How to open a personal account in Liechtenstein for a foreigner?
If you are a foreigner wishing to open a personal account in Liechtenstein without any difficulty, you should contact a company specializing in such services. Professionals will advise you on the requirements of a particular bank and provide you with a list of necessary forms and papers. You will only need to hand over scans of the collected documents and send certified copies by post directly to the bank. The consultant will check your application before the submission and help you prepare for the online interview with the bank, which is an essential part of the decision-making process on the bank’s part.
Procedure for opening a personal account in Liechtenstein:
1. Please contact us for a bank account opening service in this jurisdiction by writing to info@offshore-pro.info.
2. Pay for our services. We will accept payment in any form: bank transfer or Western Union, payment card, PayPal, WebMoney. The cost of our services starts at 2999 EUR.
3. Prepare a package of documents. If you do not plan to open a personal account in Liechtenstein remotely, please, be sure to certify the documents before you visit the bank.
Documents required to open a personal account with a bank in Liechtenstein
You will need to fill out the forms provided by the bank. We will check and scan them, then send them directly to the bank. After receiving a preliminary confirmation from the bank, we will consult you about sending the package of documents by mail.
Set of documents:
- A copy of a foreign passport certified by an apostille. If you visit in person, submit the originals to the bank and they will be copied on-site. If you act remotely, submit to the bank notarized copies.
- Proof of address (the original of the utility bill received by mail, statement of your personal bank account may become such a document).
- Statement of the origin of your funds.
Note: The bank may also request other documents. All submitted documents must be translated into English and certified.
How long will it take you to open a personal account in Liechtenstein?
Banks in Liechtenstein normally make a decision and inform non-resident applicants about opening an account within three weeks after the application.
If you are interested in our service of helping you to seamlessly apply remotely, please contact us today by e-mail info@offshore-pro.info.
