Bendura Bank account opening requirements

[libicap]

Hello all!

We are in e-Commerce and would like to open an account with Bendura Bank in Liechtenstein. I am a newbie! I communicated with Bendura over emails and I have some questions, that I do not understand their response:

1. They mentioned that the investment portfolio has to be at least 500k CHF. I do not quite understand this, can anyone help here? What does he mean by "investment portfolio", does it mean security deposit? When I asked more, he answered:

Well if it will be bonds, shares at company’s account, you can sell them, but whole amount of investment should not be less than 500 000 CHF.

And his answer about my question related to minimum required first deposit amount:

After account opening in one month period we will ask to invest 250 000 CHF and in half year after opening increasing till 500 000 CHF. It also should be mentioned that if you need liquid assets, we can provide Lombard loan against investment product collateral. It depends on investment products and can reach up to 90%. If this will suit you, we can proceed with opening.

2. I have also talked to some introducer who works with Bendura Bank, but on their website it mentioned that the account opening deposit is 5000 CHF, so I am not sure if I understood the 1st question correctly.


I hope I made the questions clear and thank you all in advanced!

 

[BlueMist]

It means you need to invest this amount with the bank in some of the investment products offered by the bank. This bank is not interested in your cash sitting on their account. I had a similar communication with them. And they don't have SEPA, only SWIFT I think and will slap you with high incoming and outgoing charges.

 

[libicap]

It means you need to invest this amount with the bank in some of the investment products offered by the bank. This bank is not interested in your cash sitting on their account. I had a similar communication with them. And they don't have SEPA, only SWIFT I think and will slap you with high incoming and outgoing charges.

Hey BlueMist! Thank you for the explanation!

Alright, now it seems like it's not what we wanted. We are an e-Commerce company and is not interested in investing in anything. We just need an account that we can use to transfer money in and out frequently. I was very clear about what we need but they went ahead to send me these.

 

[BlueMist]

Hey BlueMist! Thank you for the explanation!

Alright, now it seems like it's not what we wanted. We are an e-Commerce company and is not interested in investing in anything. We just need an account that we can use to transfer money in and out frequently. I was very clear about what we need but they went ahead to send me these.

Yes I know, this bank is not suitable for in/out frequent payments. This is more like investment bank, perhaps more suitable towards holding or trading companies which want to have excess cash invested.

 

[Alex Fr]

Fugures have lifted after they got Chinese owners or co-owners. Before that they asked for $300k.

 

[libicap]

Fugures have lifted after they got Chinese owners or co-owners. Before that they asked for $300k.

Hey Alex, thank you for the update! Do you have any idea what's the new deposit terms? And if they are suitable for e-Commerce business? Or is it still as what BlueMist mentioned that they are not suitable for in/out frequent payments?

Thank you!

 

[Alex Fr]

We used their services 1.5 years ago for several years. They were okay with frequent payments. Have to close the account because of our own reasons.
New deposit terms are mentioned above I believe.

 

[Art for Tree]

libicap in addition to the requirements described above, they also request confirmation of the presence of an office in the country of registration (not just registration address), confirmation of the presence of employees and payments to them from the company’s account as well as payment of taxes in the country of registration or in the country from which the business is actually running

 

[eastern]

when you bank in Liechtenstein there is certain costs and that cost is for you to invest 500k with them. mind you the transactions fee there is quite high and compliance obligation is stringent.