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open bank account personal EU not resident

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lonizzita

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Sep 19, 2019
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#1
Hello
I am an Italian citizen and a resident of Malta.
I am looking for a personal bank account in a physical bank in Western Europe (Austria, United Kingdom, Switzerland, Luxembourg, Belgium etc.)

I have already gone to Switzerland and many banks do not accept Maltese residents.

please, where can you recommend, to open bank account? or even an introducer who can help me ..

thank you
 
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#2
I made a list a while back in another thread. This is a bit updated.

Some are online only. Some are for trading only and don't like (or even allow) third-party transfers. The British ones or the ones based in British territories usually ask for 25-100,000 GBP minimum.
With an introducer, banks in Cyprus might be an option. If you work in igaming and plan to have your salary deposited, that might be a problem. Banks in Cyprus don't like payments to and from igaming companies.

I'm not actually recommending any of these banks. It's just a list of banks that have been known to and/or currently seem to allow remote opening, relatively easily for EU residents/nationals with medium to high income (but not millions as required for private banking/wealth management) and who can undergo proper compliance checks.
 
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#3
Sols said:
I made a list a while back in another thread. This is a bit updated.

Some are online only. Some are for trading only and don't like (or even allow) third-party transfers. The British ones or the ones based in British territories usually ask for 25-100,000 GBP minimum.
With an introducer, banks in Cyprus might be an option. If you work in igaming and plan to have your salary deposited, that might be a problem. Banks in Cyprus don't like payments to and from igaming companies.

I'm not actually recommending any of these banks. It's just a list of banks that have been known to and/or currently seem to allow remote opening, relatively easily for EU residents/nationals with medium to high income (but not millions as required for private banking/wealth management) and who can undergo proper compliance checks.
Click to expand...
All of these German banks require EU resident
 
#6
1. Austria, Belgium, Suissse, Lux - When you approach a top3 high street, you'll run into a wall: "what is your connection to the country of our bank?"

Just being a EU resident and living in Malta isn't quite enough. But what is enough, is collecting rent from a local rental unit, especially in Lux, Belgium, and Austria.

Known private banking brands in Suisse do not care about the connections much. Botswana residency and no local ties will suffice, but you'll need to maintain 7 figures.

2. The UK.

RBS opens personal accounts to non-residents of the UK who are residents of the EU. Perhaps one of the best options for the Maltese considering the lack of minimum balance requirements. But due to Brexit, IDK for how long this will last. Maybe for a few months, maybe for a little longer.

Citibank opens accounts to residents of most countries, including but not limited to residents of the EU. Minimum relationship balance to maintain an account is 250k. But you do not need to collect rental income to justify your need for an account to the compliance officer as with options on the mainland.

If you have 250K, go straight to a branch of Citi London. This account will last whatever the outcome of Brexit negotiations. Should the UK banks be allowed to continue participating in the SEPA payments system, they'll keep their competitive advantage (CHAPS, FASTER, SWIFT, SEPA) vs just (SWIFT, SEPA) from a bank in Luxembourg.

Regards,
 
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#7
xzars said:
1. Austria, Belgium, Suissse, Lux - When you approach a top3 high street, you'll run into a wall: "what is your connection to the country of our bank?"

Just being a EU resident and living in Malta isn't quite enough. But what is enough, is collecting rent from a local rental unit, especially in Lux, Belgium, and Austria.
Click to expand...

sorry what you mean: ''collecting rent from a local rental unit''
you could explain to me?

thanks
 
#8
lonizzita said:
sorry what you mean: ''collecting rent from a local rental unit''
you could explain to me?

thanks
Click to expand...

Purchase an apartment in the country where you want to bank (as an investment). You don't need to lie that you live there. Just say that you need an account to collect rent payments.

Job/project/school are the alternative justifications for having a non-resident account in the EU.
 
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#10
xzars said:
Purchase an apartment in the country where you want to bank (as an investment). You don't need to lie that you live there. Just say that you need an account to collect rent payments.

Job/project/school are the alternative justifications for having a non-resident account in the EU.
Click to expand...
Actually this is an awesome idea. Do you think it would work with Germany?
 
#13
xzars said:
If you have 250K, go straight to a branch of Citi London. This account will last whatever the outcome of Brexit negotiations. Should the UK banks be allowed to continue participating in the SEPA payments system, they'll keep their competitive advantage (CHAPS, FASTER, SWIFT, SEPA) vs just (SWIFT, SEPA) from a bank in Luxembourg.
Click to expand...

The problem with Citi London is that it is very costly to keep EUR there. They apply negative EUR rates in a form of fixed fees depending on the amount held.
 
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#16
Since you are resident in an European country, you will be able to open one basic bank account in many countries.
It is set by EU law, but not all countries are following this regulation.

If you'd go for Ireland (for example AIB), you can get an account for free, if you do not receive more than approx. 19.000 € per year.
In Austria it is usually quite expensive.

You are also able to use very exclusive banks for that. But be aware of the fees then.
 
#18
Looks like an interesting list as well, unfortunately only in German
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#20
@luta I have seen a few people mention this. How does it work?

Can you give your address of residence in a territorial tax country like Georgia and then give a correspondence address in the EU? So they ship the card to the EU but you're also on record with your correct location?
 
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