Private Bank Recommendations

[Forester]

I think Capital Security Bank seems OK based on what I’ve read about them here, but I would say that the option mentioned above seems like a safer solution – if we can even talk about bank security at all these days.

Yes, I agree with your last thought in full .
Just adding – I forgot to mention it above – that even when there (I mean at British Crown Dependencies) is a possible problem with mutual communication (as of very different timezones) as @Sols has pointed out here https://www.offshorecorptalk.com/threads/private-bank-recommendations.46161/post-321840; the bankers there will not (IMO) look at the Vanuatu citizen and resident with the same prejudice as e.g. their CH/LI colleagues, they are more accustomed to clients from “exotic” jurisdictions (of course, Vanuatu seems exotic perhaps for Europeans as well as Monaco can be exotic for Vanuatuans).

 

[bountymounty]

I suggest you to try OCBC, their private banking has a minimum of 5M AUM (it’s most likely the best private bank I’ve experienced). Until you reach that amount they give you good service anyways.

They are very open to non residents and open the accounts remotely. They have also the lowest fees in SG.

I have a fortune of just under 1 million euros , is it possible to deposit the funds remotely into OCBC? The money is fully documented and completely legitimate. If I later want to have a meeting with them in person, does anyone know if that would be possible?

 

[Clank]

I have a fortune of just under 1 million euros , is it possible to deposit the funds remotely into OCBC? The money is fully documented and completely legitimate. If I later want to have a meeting with them in person, does anyone know if that would be possible?

I think you won't qualify for private banking but you can open an OCBC premier account remotely.

I would also have a look at Standard Chartered SG, this one needs to be in person but a bank representative travels to your country and you can meet at a hotel.

I can also recommend Capital Security Bank in the Cook Islands, nevertheless it's not as cheap as OCBC, but you get better asset protection, and it's a full reserve bank (they use OCBC as correspondent).

 

[linusAG]

I have a fortune of just under 1 million euros , is it possible to deposit the funds remotely into OCBC? The money is fully documented and completely legitimate. If I later want to have a meeting with them in person, does anyone know if that would be possible?

Hi,

You are not eligible for OCBC Private Bank (aka the Bank of Singapore), but you can open an account with OCBC Premier Private Bank. It's a low-end private bank with low requirements.

 

[bountymounty]

Hi,

You are not eligible for OCBC Private Bank (aka the Bank of Singapore), but you can open an account with OCBC Premier Private Bank. It's a low-end private bank with low requirements.

You sure it can be done remote all of it? I read somewhere that you need a local guy in Singapore to help you with the account opening ?

 

[linusAG]

You sure it can be done remote all of it? I read somewhere that you need a local guy in Singapore to help you with the account opening ?

Yes, but it also depends on your tax residence and citizenship. If you are a US tax resident, I think it will be impossible.

 

[Frankie]

I can also recommend Capital Security Bank in the Cook Islands, nevertheless it's not as cheap as OCBC, but you get better asset protection, and it's a full reserve bank (they use OCBC as correspondent).

I would avoid this bank, I don't think it counts as a "private bank" and not as solid as OCBC.

With 1 million EUR, especially if you're willing to invest it in the bank's products or pay custody fee every year, plenty of Swiss or Liechtenstein banks will be happy to have you.

 

[AndyAresa]

I would avoid this bank, I don't think it counts as a "private bank" and not as solid as OCBC.

With 1 million EUR, especially if you're willing to invest it in the bank's products or pay custody fee every year, plenty of Swiss or Liechtenstein banks will be happy to have you.

do you know the annual custody fee of these banks for 1mln EUR?

 

[Clank]

do you know the annual custody fee of these banks for 1mln EUR?

I would avoid any bank that charges custody fee.

 

[Nigital Domad]

Yes, but it also depends on your tax residence and citizenship. If you are a US tax resident, I think it will be impossible.

Is OCBC Premier Private Bank part of OCBC, or its own institution (and thats why lower requirements, etc)?

 

[Frankie]

do you know the annual custody fee of these banks for 1mln EUR?

There is a site but I posted it once here and my msg got deleted. You can google Swiss bank offshore account custody fee, or just google "filetypedf swiss custody fee" and you will find plenty of pricing tables of banks.

 

[linusAG]

Is OCBC Premier Private Bank part of OCBC, or its own institution (and thats why lower requirements, etc)?

It's not a really private bank, it's some kind of VIP bank account with access to about 80% of private bank's products.

 

[CyprusLawyer101]

Guys
If there is interest for private banking with Cyprus banks I can help !

 

[Houdini]

Guys
If there is interest for private banking with Cyprus banks I can help !

What's the minimum amount to have to deposit?

 

[CyprusLawyer101]

What's the minimum amount to have to deposit?

Depends on the risk profile of the client, so for a low risk client banks are ready to accept amounts in the area of 500k.