Eternity Law International — News — Open a bank account in Liechtenstein

Open a bank account in Liechtenstein

Published:
October 8, 2020

Liechtenstein is a small European country, but it is known for its high standards of living among the population. It is also a good platform for business development. If you are going to move here or transfer your business in Liechtenstein, you need to open a bank account.

The procedure for opening an account is quite simple. But you should know that there is a very high level of data privacy in this country. After Swiss banks, Liechtenstein ranks second in the world in terms of personal information protection.

Bank account for non-residents

Do not worry if you are a non-resident. Liechtenstein will allow you to open an account. However, you need to think carefully about which bank to choose – not all of them provide services to non-residents. On the other hand, you will find a lot of financial programs for foreign business. So if you need a corporate account, there will be no problems.

The procedure to open bank account

The main feature of banking services in Liechtenstein is the lack of “package programs”. All bank products are made out separately with the conclusion of a contract. So, the bank operator will ask you about your plans and needs and then propose you a personal approach to your account management.

But there is a mandatory list of documents which you must submit to the bank:

  1. passport or ID card
  2. confirmation of your address (contract or utility bills for the last 3 months)
  3. contact information
  4. wishes regarding the account – current, deposit, savings and so on.

The process usually takes 1-2 weeks, and personal attendance is not required.

So, if you can not come in person, some banks have the option to open an account remotely. In this case, you need to send electronic copies of the documents, and then provide the originals.

What about the fees?

Although the banks of Liechtenstein are equal to the Swiss ones, there is a fairly moderate fee for servicing the account.

You will only come across the most common forms of commission – a cash withdrawal fee and a money transfer fee. The last one depends on the country you need to work with.

The bank will immediately inform you about all possible commissions while opening the account. You will know how much this or that transaction costs, therefore, a monthly commission withdrawal will not surprise you.

Among other popular services are remote account management, private banking and internet banking. They are available to individuals and legal entities and can be connected at any time.

Eternity Law international will gladly help you with opening a bank account  and our specialists will answer all your questions. Take advantage of our many years of practical experience – save your time and your money.

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