Opening a corporate account in Liechtenstein Bank Bendura Bank

Reasons to open an account with Bendura Bank

BENDURA BANK was established in 1998 in the Principality of Liechtenstein and is a fully licensed bank. Since this country is considered one of the most stable and reliable jurisdictions, the bank, accordingly, can also be characterized as such. BENDURA BANK employs over 150 qualified employees and has assets of around CHF 3.5 billion, making it one of the largest in Liechtenstein. The main office is located in the Principality, and since 2018, a representative office has been opened in Hong Kong.

Bank location advantages

• Strong economic and legal spheres of the country;
• Stable Swiss franc;
• Reliable financial policy of government bodies;
• Operation of the Banking Law, which ensures a high degree of confidentiality;
• Financial products that meet European standards.

In addition to the above, Liechtenstein benefits in particular from access to two economic zones: the European Economic Area (EEA) and Switzerland. The principality is also a member of the European Free Trade Association (EFTA) and benefits from one of the largest free trade agreements in the world.

It is also important that all banks are controlled by the internationally recognized Financial Market Supervisory Authority (FMA).

Safety

BENDURA BANK is a member of the Deposit Insurance and Investor Compensation System. The body that carries out these functions in accordance with EU legal regulations is the "Deposit Insurance and Investor Compensation Fund".

Multiculturalism

First of all, BENDURA BANK treats each of its clients not as a “regular”, but as a “main” one, creating the most comfortable conditions for communication. That is why the service is conducted in 20 languages, which eliminates the "barrier" problem. That is, when communicating with a personal manager, you do not need to resort to the help of an interpreter, since all contacts are conducted exclusively in the client's native language.

Corporate principles of the bank

For the bank, reputation and culture are not just empty words. That is why in its work BENDURA BANK is guided by the invariable principles of the Code of Corporate Ethics:

• Compliance with good faith and confidentiality;
• Reputation preservation;
• Responsibility and reliability;
• Decency in relation to competitors;
• Continuous introduction of new and improvement of old financial services;
• Client-friendly way of communication;
• Transparent pricing, which the client can familiarize himself with at the very beginning.

The bank also supports and cooperates with the non-profit organization "Medical and Pedagogical Center of the Principality of Liechtenstein", which develops the idea of charity and assistance in the home country.

Which documents and information are required to open an account with Bendura Bank?

To open a corporate account

Company documents

• Original extract from the register of companies with the following information in English:

-Directors and their powers;

-Date of creation of the company;

-Address;

-Registration number;

-Shareholders;

-If the company has a structure, then documentation will be required before an individual;

• Scan of the charter in English;
• Original power of attorney, if the signatory is not the director;
• Scan of the director's passport;
• Notarized passport of the signatory (original);

Business activities of the company

• Description of the business;
• Agreements with partners for incoming / outgoing payments;
• Transport documents;

Taxation

• The last available balance sheet (scan);
• Tax number in the country of registration;
• Proof of the tax number where the current management of the company is located in English (scanned):

-If the place of effective management does not require the registration of a foreign company, a tax report will be required (our company will help with drawing up such an opinion) confirming this.

• Proof of physical presence (Substance) in the country of the current management:

-Lease contract;

-Employment agreements with employees;

Beneficial owner

• Summary;
• Notarized copy of the passport (original);
• Utility bill (scan) not older than 3 months;
• Scan of confirmation of ownership of assets (real estate, company property, balance sheets of a holding company);
• Source of income (employment contract, or dividends + balance sheet, or sale of assets, or tax return) (Scan);
• Scan of any document with a personal TIN.

The documentation must be translated into English or German.
The client can open an account remotely. To do this, it is necessary to send signed forms and originals of notarized copies of the director / beneficiary passports to Liechtenstein.

To open a personal account

• Summary;
• Original notarized copy of the passport;
• Utility bill (scan) not older than 3 months;
• Scan of confirmation of ownership of assets;
• Source of income (employment contract, or dividends + balance sheet, or sale of assets, or tax return) (Scan);
• Scan of any document with a personal TIN;
• Description of the purpose of opening an account.

Bendura Bank tariffs

The price varies and depends on the business profile of the company.

Companies from which jurisdictions can open an account?

Unlike other internationally renowned banks, BENDURA BANK does not have any jurisdictional restrictions. An account can be opened by both resident companies and non-EU residents (this also applies to individuals).

However, if the company is in a sanctioned jurisdiction, the bank will most likely have to refuse to open an account.

Bank account opening procedure in Liechtenstein Bendura Bank

BENDURA BANK is one of the few banks that allows remote account opening. Due to the worldwide epidemic of COVID19, physical presence in Liechtenstein is not necessary, it will be enough to send the manager a notarized scan of the beneficiary's / director's passport.

The Taxters team takes care of the entire process from collecting documents to opening an account directly. You will not need to waste time communicating with bank representatives or worry about additional manager requests and completeness of the package of documents.

You can find out more detailed information about the price by writing or calling us at any convenient time!

Additional services of Bendura Bank

In addition to opening corporate and individual accounts, credit financing and other basic financial services, the bank provides its clients with the opportunity to take advantage of a number of other benefits.

Asset Management

The main tasks of the bank are individual support of the client's assets, based on his needs and goals.

This service includes:

• Formation of a portfolio of securities;
• Assistance in asset management (the goal can be either to protect funds from inflation, or to invest in stocks to make a profit).

The investment consultant will analyze the market himself, suggest the most optimal options for investments, make purchases and sales of shares, provide monthly reports on the current state of the market and quarterly reports on the dynamics of the client's financial assets.

The Asset Management Department works with the world's leading financial institutions using the latest technology tools from agencies such as Bloomberg and Morningstar.

BENDURA BANK AG accepts mandates to manage assets of CHF 500,000 (or currency equivalent) and above.

The commission varies from 1.20% to 1.7% depending on the regional investment parameters, national currency and the degree of risk appetite.

Fund management

BENDURA BANK has a subsidiary company BENDURA FUND MANAGEMENT ALPHA, which is engaged in the registration of investment funds with the assignment of its own international code to identify the issue of securities (ISIN). The company has all the necessary licenses for preliminary consulting and fund creation, as well as for managing the day-to-day activities of funds

Ability to independently monitor financial markets

If the client wishes to independently monitor market trends and make investment decisions, the Bank opens access to the following products:

• stocks and exchange traded funds (ETFs);
• bonds;
• investment funds;
• precious metals;
• structured products;
• foreign exchange transactions;
• derivative financial instruments.

The client's orders are accepted by the bank manager and are executed as quickly as possible. Confirmation of the work performed is communicated by phone, e-mail or through the electronic banking system.

Benefits of opening an account with Taxters

Before submitting documents to the bank, our company will help you:

• fill out all the required forms;
• communicate with bank managers;
• will correct (if necessary) and submit for you the entire package of documents for preliminary verification by the bank;
• will help answer all the manager's questions in case of any such.

Among other things, our team has 10 years of experience in the field of consulting and will select the most optimal option for you and your company if an account with BENDURA BANK is not suitable.

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