Offer of Bank Account Opening with
VP Bank (Singapore)
||9 Raffles Place #42-01, Republic Plaza, Singapore 048619|
|General Description||The head bank of VP Bank Group was founded in Lichtenstein on April 6, 1956 as Verwaltungs-und Privat-Bank AG (VP Bank AG). This is the first open joint-stock company whose shares have been quoted on the Swiss Stock Exchange since 1988. It has 10 offices all over the world including those in Switzerland, Liechtenstein, Luxembourg, Germany, Dubai, Hong Kong, Singapore, the British Virgin Islands, and Russia (with a representative office in Moscow). The basic sphere of activity is rendering services to private, solvent clients.|
||S&P:A-; Moody`s: Aaa|
|Methods of Account Management
||Internet-bank, telephone, fax, and electronic messages|
|Types of Accounts
||Commercial, settlement, and saving and investment|
|Currencies of Account
||SGD, CHF, EUR, USD, GBP, and RUR|
|Minimum Average Monthly Balance and Other Bank Requirements for its Clients
||EUR 200 000 (or the equivalent in another currency)|
||Rates stated below are charged in the equivalent of the currency in which an account has been opened:
Current account servicing: CHF 60 annually;
Fiduciary deposits: 0.125-0.5% of deposit amount;
Securities deposit servicing: 0.35% of amount;
Bank guarantees: 1% (annually);
Cost of funds transfer: CHF 10;
Fiduciary management of the fund: CHF 0.6-2.2% (annually) of amount of investment depending on the amount of investment of capital and investment strategy.
|Language of Communication
||English, German, French, and Chinese|
||MasterCard, Visа, American Express, and Travel Cash Card;
Insurance coverage, with a credit limit from USD 10 000 plus.
||Fiduciary assets management, investment consulting and structural investment products|
|Brief Description of Account Opening Procedure
||A meeting with the bank's representative, who visits Moscow once every three months, is necessary to open an account.
Filling in the forms necessary to open an account and the signing of such forms, together with all other formalities required to open an account, shall be carried out in our company office with the support of the bank's representative and our specialists.
A client can also visit the country of the bank's office seat at his discretion.
The following information and documents are necessary to open an account:
- original constituent documents of the company (when opening a corporate account);
- originals and copies of documents of identification confirming the account holder's residential address;
- it is obligatory to provide details of the address at which business is actually conducted;
- CV of the company beneficiary (for corporate clients) in free format.
|Period of Account Opening (approximately)
||1 month or more from the date of the bank's receipt of all the stated documents and information|
|Fees for account opening assistance||USD 1950