Union Bank

FACTS & INFO

• Requirements

  REQUIREMENTS FOR ACCOUNT SETUP:

  • Personal presence for account opening is not required; however, it is necessary to meet with the bank after the account opening in Liechtenstein, Vienna or Moscow. If held in Liechtenstein, the meeting will need to be arranged within 6 months of the account opening, and within 3 months if arranged in Vienna or Moscow.
  • No initial deposit is required; however, it is advisable to deposit US$480 as an annual account maintenance fee. There is also an offshore fee of CHF3,600 for all domiciliary companies.
  • No minimum balance requirements (the amount will depend on the overall business case and potential for future development. This will be assessed and reviewed on a case-by-case basis. However, all legal entities should have an annual turnover of at least €7m).
  • The account will be activated within 7-10 business days (upon receipt by the bank of all duly completed forms and relevant information).

  DOCUMENTS REQUIRED:

  For the Company:

  A set of legalised company documents consisting of:

  • Certificate of incorporation
  • Memorandum and articles of association
  • Documents confirming the appointment of company directors and secretary (if any)
  • Document confirming the location of the registered office
  • Share certificate(s)
  • Certificate of good standing if the company is more than 12 months old
  • Copy of the corporate structure, identifying the ultimate beneficial owner(s)
  • Valid license (if applicable)

  For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:

  • Notarized copy of a valid passport. The passport must be signed and the signature must match the signature in the application form. The photograph must be clear and of good quality.
  • Original or notarized copy of a utility bill / bank statement dated within 3 months as verification of residential address.
  • Original or notarized copy of a bank reference letter, dated within 3 months.
  • Power of attorney (where applicable).
  • Personal CV.

  For each corporate officer (where the company directors or shareholders are legal entities), please provide:

  A set of legalised company documents consisting of:

  • Copies of constitutional documents (certificate of incorporation, articles, etc.).
  • Copy of the corporate register (which shall include register of shareholders, directors and secretary).
  • Copy of the corporate structure.
  • Certificate of good standing.

  PLEASE NOTE:

  • Documents that are not in English must be accompanied by a certified translation.
  • Once all documentation is available please email electronic copies to our representative for review; incomplete or unexecuted forms can create delays in the account opening process.

  IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES

  If you conduct any activity without the required license or authorisation granted by a relevant authority in any jurisdiction, New Company will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.

  Licensable activities include, but are not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

  Please contact us if you need assistance in the licensing of your financial, Forex brokerage or gambling company.

  SHIPPING COSTS

  Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.

• About the Bank

  Purchased in 2013 by a Liechtenstein Family Foundation, Union Bank has been focused on corporate and private banking services for CEE and CIS-based clients ever since.

  Based in Liechtenstein, it is well-known for its financial stability (it received a AAA rating from Standard & Poor's in 2016) and its business friendly regulatory environment. The bank's staff is local and international, highly acquainted with Eastern European clients, and has a deep understanding of the bank target markets.

  This combination of solid expertise in corporate banking and wealth management allows Union Bank to position itself as a premier Family Office for Entrepreneurs - with a bank licence.

• Facilities

  WHAT UNION BANK OFFERS:

  Private Banking and Wealth Management – Products and Services:

  • Accounts for private persons in various currencies (note: USD accounts are not available)
  • Various credit, debit and prepaid cards (Visa and MasterCard)
  • E-banking including payments
  • SWIFT confirmations available on demand
  • Accelerated payments in case of urgency
  • Placement of fiduciary deposits at third party banks
  • Lombard loans
  • Depository of shares, bonds and structured products
  • Metal accounts
  • Trading facilities for international securities
  • Investment advisory services
  • Discretionary asset management

  Corporate Banking – Products and Services:

  • Accounts for legal entities in various currencies (note: USD accounts are not available)
  • Transactional accounts for commercial activities
  • SWIFT confirmations available on demand
  • Accelerated payments in case of urgency
  • Credit facilities on request
  • Advisory services

  General:

  • Customer support in German, English and Russian
  • 24-hour multi-lingual customer service center
  • Secure online banking with digipass.
  • Visa or MasterCard debit cards
  • Account allocation timeframe of 7 to 10 business days (upon receipt of the original documents by the bank)

  BANK TARIFFS AND CHARGES

  Union Bank can be considered as a medium-cost bank with respect to incoming/outgoing payments and account maintenance. Incoming payments are free of charge. Depending on the type of account, outgoing payments will vary from CHF0.50 to CHF30, and the account maintenance fee will vary from CHF0 to CHF40 per month.
  

  PLEASE NOTE: Bank tariffs may be changed anytime at the sole discretion of the bank. Therefore, we suggest that you contact us or visit the bank’s website for updated details on specific fees and charges.

  The New Company professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit, or minimum balance.