| GLOBAL
BANKING AUSTRIAN
BANK ACCOUNTS Setting
up an account in Austria is a fairly straightforward operation. It is much easier
in person but can be done through the mail if your ID copy is certified by an
Austrian consulate or public notary in the country where you live. Once
you have opened the account, the bank will issue you a card which will be Maestro,
Visa or MasterCard depending on the bank. You can use it to get cash or statements
around the clock from the automatic teller machines (ATMs) or make payments in
shops etc. Credit
cards are widely accepted. There are many ATMs that will accept them for cash
advances and they are accepted at boutiques, department stores, hotels, airports,
many restaurants and other places often frequented by foreigners. They can be
used at the T-Punkt telecom shops to buy equipment and are accepted by the Bahn
for the purchase of train tickets as well. There
are four different types of banks in Austria: public sector commercial banks (Private
Geschäftsbanken), savings banks (Sparkassen), credit cooperatives (Kreditgenossenschaften)
and the Postbank. The
distinctions between these are of little interest to most depositors. The rules
for a standard checking account (Girokonto) are identical. The one important thing
is the free use of the ATMs. If you are a commercial bank depositor, for example,
there's no charge at the ATM of any other commercial bank, even if it is in a
distant city, but there is a substantial fee (€3 to €6) if you use the ATM of
one of the other three bank types so you need to know which type of bank you are
with. We
deal with a number of banks but charge a standard fee. Personal
Account Opening Fee $550 ⁄ €425 ⁄ £295 For
more information click here back
to top CARIBBEAN
BANK ACCOUNTS We
deal with the following Caribbean Locations although the bulk of accounts which
we open are in the locations described in detail, these location are bold and
will direct you to the location. For
more information click here back
to top CANADIAN
BANK ACCOUNTS Most
people are unaware that Canada offers very high levels of banking secrecy. We
deal with several large Canadian banks which all have branches in every major
city. The opening procedures are not particularly complex and, as soon as the
bank receives the documents duly signed, you will be allocated an account number.
Once the account number is issued the account will be activated. The
personal account is ideal for internet and eBay traders who receive funds in US
or Canadian dollars. Our
setup fee is $375 ⁄ €275 ⁄ £195 back
to top CYPRIOT
BANK ACCOUNTS Cyprus
(in Greek: Κύπρος/Kýpros or in Turkish: Kibris)
is a Eurasian island in the eastern part of the Mediterranean Sea south of Turkey.
Cyprus is the third largest island in the Mediterranean after Sicily and Sardinia.
Cyprus has been a member state of the European Union since May 1, 2004. Cyprus
offers a number of significant advantages over many other banking centres. Firstly,
the banks are always conversant with English as the language is in regular use
on the island. Our favourite bank has a wide range of employees from various parts
of Europe which makes banking straightforward in most major European languages.
In the main Nicosia branch are a high number of native English speaking staff
and the bank operates in a way where you can generally deal with the same people
on a regular basis so they get to know your banking needs. Secondly, the bank
offers a wide range of cards which make day-to-day access to funds very straightforward.
The accounts themselves are very simple to operate and the bank provides a very
high level of customer care with access to your Account Manager quickly and easily.
If you decide to set up a Cypriot account through us we will be able to provide
an account number prior to completing all the formalities. This is ideal if you
are expecting an urgent payment as it is possible to remit funds prior to the
account being formally opened. The
documents required to open a bank account in Cyprus will include bank application
form, signature cards, certified copy of a picture ID, references on the signatories
and verification of residential address (utility bill, credit card statement).
Minor variations in the requirements will occur depending on the choice of bank.
All the banks that we represent provide internet banking, wire transfers and debit
cards. We tend to work with one specific bank wherever possible but have contact
with several others to cover virtually any requirements our clients might have.
The accounts can also be operated via phone, fax or the internet. You are free
to choose whether your account is maintained in one specific currency or several
difference major currencies for example USD, EUR, CHF, GBP or JPY. We find our
favourite Cypriot bank to be really first rate because, when the friendly customer
service is combined with first rate internet banking and a wide range of cards,
it is a certain recipe for a successful banking relationship. Most of our clients
tend to agree and many have referred their friends and business associates to
the bank and, as a result, this bank rates in our top three for service and efficiency.
1.
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Non Resident Accounts |
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1. External Accounts held in Cyprus Pounds in the form of current, notice, fixed
or savings account. |
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2. Foreign Currency Accounts held in any freely convertible currency as current,
notice, fixed or multicurrency accounts with competitive interest rates. |
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3. Multicurrency Accounts in any of the following currencies: GBP, USD, CHF, EUR
and other leading currencies. |
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| 2.
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Personal Banking Services |
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1. Bank Cards |
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2. Issue and purchase of travellers cheques in all major denominations | | | |
3. International money transfers and issue of bankers drafts | | | |
4. Direct Debits | | | | Bank
Cards | | | | Bank
Cards | | | | Bank
Cards | | | | | 3.
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Specialised Products & Services | | | |
1. Investment Banking | | | | 2.
International Factoring | | | | 3.
Private Banking | | | | 4.
Dealing Services | | | | 5.
Investment Advisory Services | | | | 6.
Trustee Services | | | | 7.
Internet Banking | | | | | 4.
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Account Opening Requirements | | | | Corporate
Clients | | | |
Once we have checked the application you need to send the following items directly
to the Bank with the completed forms: | | | |
1. Verification of a permanent address (example an electricity or phone bill,
other utility bill or a bank statement/credit card bill). | | | |
2. The bank account opening forms duly filled in and signed (we provide them).
| | | |
3. A certified copy of the Certificate of Incorporation. | | | |
4. A certified copy of the Memorandum and Articles of Association. | | | |
5. Identification; a picture ID such as a certified copy of the passport or drivers
licence for all signatories to the account. | | | |
6. A bank reference, i.e. a letter confirming that you hold a personal account
in any bank, for all signatories. | | | |
7. A board resolution which appoints the authorised signatories (we can prepare
this). | | | | Individual
Clients for personal or joint accounts | | | | Non-Resident
Individual | | | | 8.
Verification of a permanent address (example an electricity or phone bill, other
utility bill or a bank statement/credit card bill). | | | | 9.
The bank account opening forms duly filled in and signed (we provide them). | | | | 10.
Identification; a picture ID such as a certified copy of the passport or drivers
licence for all signatories to the account. (The identification document of preference
for the bank is a passport although a certified national identity card can often
be used instead. This copy must be certified by a lawyer or notarised). |
Once
the account is open you initial deposit should be not less than - US$1,000 - or
- €1,000 - or - £500. You pay the deposit directly to your bank account,
NOT to us Our
setup fee is $375 ⁄ €275 ⁄ £195 back
to top GERMAN
BANK ACCOUNTS Setting
up an account in Germany is a fairly straightforward operation. It is much easier
in person but can be done through the mail if your ID copy is certified by a German
consulate in the country where you live. Once
you have opened the account the bank will issue you a card which will be Maestro,
Visa or MasterCard depending on the bank. You can use it to get cash or statements
around the clock from the automatic teller machines (ATMs) or make payments in
shops etc. Credit
cards are widely accepted. There are many ATMs that will accept them for cash
advances and they are accepted at most boutiques, department stores, hotels, airports,
many restaurants and other places you are likely to make payments. They can be
used at the T-Punkt telecom shops to buy equipment and are accepted by the Bahn
for the purchase of train tickets as well. There are four different types of banks
in Germany: public sector commercial banks (Private Geschäftsbanken),
savings banks (Sparkassen), credit cooperatives (Kreditgenossenschaften)
and the Postbank. The
distinctions between these are of little interest to most depositors. The rules
for a standard checking account (Girokonto) are identical. The one important
thing is the free use of the ATMs. If you're a commercial bank depositor, for
example, there is no charge at the ATM of any other commercial bank, even if it
is in a distant city, but there is a substantial fee (€3 to €6) if you use the
ATM of one of the other three bank types so you need to know which type of bank
you are with. We
deal with a number of banks but charge a standard fee. Our
setup fee is $550 ⁄ €425 ⁄ £295 back
to top GIBRALTAR
BANK ACCOUNTS Currently
22 banks are either represented in Gibraltar or actually authorised or licensed
to provide full banking services. Gibraltar's banking sector controls more than
4.5 billion pounds sterling in assets. Banks
in Gibraltar fall into three main categories: LICENSED
Approximately 10 of the banks in current operation are licensed by Gibraltar's
Financial Services Commission (FSC). These banks are fully regulated and supervised
by the Gibraltar Government via the FSC. AUTHORISED
Some banks are authorised by the EEA (European Economic Area) but not
licensed by the FSC. Therefore, they are regulated by the laws in their home country
which, in turn, would be regulated by European legislation. Gibraltar's FSC has
limited responsibility for these institutions. OVERSEAS
Some of the names in Gibraltar's banking sector are merely representing
home offices. These banks can promote services from their home institutions but
nothing more. They receive somewhat closer regulation from Gibraltar's Financial
Services Commission than do banks authorised solely by the EEA. Examples of overseas
banks (in the year 2006) are one institution from Jersey, one from the Isle of
Man and another from Morocco. We
deal with three banks in Gibraltar. The facilities include Credit and Debit cards,
full online access, Standing Orders and Direct Debits, cash and cheque clearing. This
is the ideal account for people who want to monitor their account entirely via
the Internet using one of the best Internet banking systems in the world. The
accounts provide a payment card and all the usual banking benefits and, although
Gibraltar is within the Sterling area, accounts are available in multi-currency
format. Minimum
deposit varies from £1,000 up to £50,000. Requirements:
Certified
Passport
Copy Proof of Residence
Some Banks Require a Reference For
Corporate Accounts the bank will require copies of the company documents and a
basic business plan Our
setup fee is $375 ⁄ €275 ⁄ £195 back
to top LATVIAN
BANK ACCOUNTS Banking
Secrecy
One of the major advantages of the Latvia banking system is its
secrecy. This issue is given much attention in the Law on the Credit Institutions:
the clients' account information is protected against actions from third parties
or civil institutions, apart from those stipulated (ex. criminal investigation).
In addition, as an EU member state, Latvian legislation does not have any limitations
on currency import or export. Latvian
Banks offer: - Low
overhead costs
- Quick
and efficient wire transfers
- Operations
with multiple currencies
- Internet
access
- High
interest rates on term deposits
- Visa,
MasterCard and American Express credit cards
Since
2005, all bank account numbers comply with the IBAN standard meaning that transfers
from all other EU countries are fast and hassle free. High
Standards; Low Fees
Banking sector in Latvia is relatively saturated in traditional banking services
such as account maintenance and settlements as a result corporate and personal
accounts are generally free of many banking charges encountered elsewhere. The
bank responsible for the development and execution of monetary policy - Bank of
Latvia - oversees the financial standing of every bank. Being well regulated,
Latvian banks are very competitive in terms of service standards and general fees.
How
to open a bank account in Latvia?
Opening a bank account through ORCA
with a Latvian bank is easy for private individuals as well as for the companies.
A private person needs a passport. For a company, you require an opening package
and the company documents (registration certificate, statutes, documents certifying
the account owner's right to run the company). The whole procedure can be dealt
with through the mail and the account is usually up and running in 10 to 14 days.
If the account is needed within a day or two, we can arrange for you to visit
the bank personally. Direct flights from major European cities are available.
The arrival of discount airlines such as EasyJet and RyanAir has made travelling
to the Latvian Capital, Riga, much cheaper than many other locations. In addition,
the flight time from most northern European cities is well under 2 hours making
it possible to visit Riga as and when needed. It is a good city for a weekend
too; excellent beer and night life! Latvia,
like Switzerland, requires either a trip to the bank or an Apostilled copy of
your passport, which can be obtained in most countries very easily. If you need
an Apostille but do not know where to get one, email us at Apostilles and we can
advise you where to go in your country. Alternatively check out www.apostille.com;
this company is not particularly cheap but, if you are unsure what to do and in
a hurry, we are informed that they are fast and efficient. Our
setup fee is $375 ⁄ €275 ⁄ £195 back
to top LUXEMBOURG
BANK ACCOUNTS Banking
in Luxembourg
We
can introduce you to a bank that has branches in both Luxembourg and Switzerland
making it potentially possible to have the best of both worlds; an EU account
in one of the European Union's premier banking centres combined with an account
in Zurich, which is outside of the EU. The opening procedures are quite easy to
deal with. Once the bank receives the documents duly signed, you will be allocated
an account number; this is required before you can pay the initial funds into
the account. Both
of these countries have an impeccable reputation as leading world class banking
centres. This has come about due to a combination of favourable legislation, political
and economic stability and long standing expertise. Very
strict banking secrecy, combined with favourable tax legislation covering certain
investment vehicles, has had a very positive impact on the Private Banking and
Investment Fund business conducted in these banking centres. They are also ideal
for corporate banking although it must be noted that both Luxembourg and Switzerland
tend to require quite large deposits and minimum balances. Our
setup fee is $1150 ⁄ €850 ⁄ £595 LUXEMBOURG
ACCOUNT OPTIONS
Personal Current Accounts
A Personal Account in Luxembourg
provides all of the latest facilities; secure online banking and a wide selection
of both debit and credit cards linked to the account. If
you have regular amounts of money coming in and out, either in Euros or other
currencies, then a current account in the relevant currency is the easiest way
of handling such movements. The banks also offer multi currency accounts, if preferred,
as well as handling international standing orders, SWIFT and IBAN payments. In
our experience, the service in Luxembourg is first rate, probably because the
bank is located in a small country meaning the volume of these transactions is
likely to be high and hence significant amounts are spent ensuring the departments
dealing with this aspect of the bank's operations operates with the highest standards
of efficiency. Account
Types (Private Banking)
You can choose between either a named or numbered
account. Numbered accounts provide you with higher levels of discretion and ensure
that only a limited number of the bank's staff is aware of your identity. The
banks offer accounts in all of the worlds main currencies such as Euros, USD,
GBP, CHF, YEN and CAD and, in addition, all accounts are interest bearing. The
minimum deposit required to open an account with the bank is €50,000 ⁄ £29,000
⁄ $42,000 or the equivalent in another currency. Credits can be made in
cash, by bank transfer or in securities.
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A list of the facilities: |
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1. Straightforward account opening |
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2. Gold Visa or MasterCard |
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3. Safekeeping of securities sent by post on the Bank's own premises |
| | 4.
No entry charges or account management fees |
| | 5.
No postal charges |
| | 6.
Free profit statement |
| | 7.
Interest on selected currencies |
| | 8.
Free secondary foreign currency accounts |
| | 9.
Cost-effective foreign cash withdrawals directly from the appropriate foreign
currency accounts |
| | 10.
Automatic transfer of foreign currency interest into Euros on request |
The
set up fee to arrange this account is $950 ⁄ €710 ⁄ £495 Luxembourg
Standard Personal Account with Internet Access Opening
deposit £2,000 ⁄
$3,500 ⁄
€2,860 Facilities
available include a Debit Card, full online access, Standing Orders and Direct
Debit facilities as well as cash and cheque clearing. This
is the ideal account for people who want to monitor their account entirely from
the Internet, using one of the best Internet banking systems in the world. The
account provides a payment card and all of the usual banking benefits you would
expect in a leading financial centre. Our
setup fee is $375 ⁄ €275 ⁄ £195 back
to top SPANSIH
BANK ACCOUNTS This
account is denominated in Euros although other currencies are available once the
EURO account is open. Spain is straightforward to deal with and accounts can be
opened in person or by mail. A full range of facilities is available such as Visa/MasterCard
and a cheque book. In
Spain there are two types of bank accounts which are suitable for foreigners:
A.
| | If
you live in Spain over 183 days per annum apply for a Resident bank account: |
| | You
can open an account in Euros or in a foreign currency (depending on what the bank
offers). |
| | | B.
| |
If you spend less than 183 days a year in Spain apply for a Non-Resident bank
account: |
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This account is ideal if you do not have an NIE (foreigner's Identity Number or,
in Spanish, Numero de Identificacion de Extranjeros) and you come from another
country spending under 6 months of the year in Spain. In these circumstances,
you are considered non-resident. Based on the regulations of the Bank of Spain,
non-residents can hold bank accounts in Euros or any other foreign currency. As
identification, you must have a valid passport or the ID card from your country
of origin. If you become tax resident in Spain after opening the account, you
must inform the bank immediately because a non-resident account receives interest
gross and failure to notify the bank could lead to problems with Hacienda, who
are the Spanish tax authority. |
In
general, the Spanish banking system is up to international standards. It was recently
pointed out that, because the system works so well, it facilitates the continued
success of the Spanish black market in Spain. Undeclared money is called dinero
negro or dinero en B - it is fairly common in Spain for business to be transacted
in cash and most Spaniards never seem to have trouble putting their hands on thousands
of Euros hence the huge number and variety of safes for sale in the shops! Almost
all banks offer online banking, transfers between banks happen fast and relative
anonymity is assured for now. Cheques can be made out to "Al Portador" which,
literally translated, means the carrier or the bearer. Spanish cheque books are
not crossed so care must be taken and, if you mail a cheque, you cross it by drawing
two vertical lines and writing "y Cia" between them. Facilities
with a Spanish Account | The
accounts offer the following facilities: | 1.
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Cheque Book | 2.
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Direct Debits | 3.
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Comprehensive Internet Access | 4.
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International Payment Access | 5.
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Maestro, MasterCard or ATM cards (The MasterCard is issued if you deposit €1500
or more) |
Our
fee for setting up a personal or corporate account is $375 ⁄ €275 ⁄
£195 back
to top TANZANIAN
BANK ACCOUNTS Many
clients are surprised when we recommend Tanzania as a banking centre but it has
a lot to commend it. It was only in 1993 that the first private banks opened their
doors. These were Meridien BIAO and Standard Chartered, the latter being among
the UK-owned banks that were nationalised in 1967. Also, in early 1995, the only
private bank to be majority-owned by indigenous Tanzanians, First Adili Bank,
began business. We deal with a number of leading banks in Tanzania but specialise
in introducing clients to banks with substantial presence outside Africa. We can
recommend a first rate bank that has branches in both the EU and Tanzania making
it potentially possible to have the best of both worlds; an EU account in one
of the European Unions premier banking centres combined with an account in Africa.
The opening procedures are quite easy to deal with. As soon as the bank receives
the documents duly signed, you will be allocated an account number, which is required
for paying funds into your account. Both countries have an impeccable reputation
as reliable banking centres within Private Banking, Personal and Corporate Banking
Solutions. This has come about due to a combination of favourable legislation,
stability and longstanding expertise. A
further plus is that, the stable political situation in Tanzania combined with
the fact that the banks located there not in either the EU or USA, has contributed
to the growing popularity of this location. Set
up Fee for Personal or Corporate Accounts $550 ⁄ €420 ⁄ £295 back
to top | 
