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VP Bank
Verwaltungs- und-Privat-Bank AG
Location Liechtenstein
National rank 3, World rank 923 |
Credit rating: |
S&G A/A-1 |
History: |
Established April 6, 1956 as Verwaltungs- und Privat-Bank Anstalt, was reorganized into a limited liability company on December 31, 1962 and since 1974 it is the first public-share company in Liechtenstein, being listed on Swiss Stock Exchange since 1983; Current Member of International Capital Market Association.
Foreign branches established in Switzerland, Luxembourg, Virgin Islands (British). Further exist an Asset Management Group in Munchen (Germany) and a Representative Office in Moscow (Russia). Overall, the Bank employs 565 people. |
Shareholders: |
The Bank has two major shareholders: Stiftung Furstlicher Kommerzienrat Guido Feger (the founder) holds 29% and Martin Hilti Familientreuhanderschaft holds 11% of shares. The rest of shares are traded through stock exchange. |
Types of Accounts: |
Corporate and private. The accounts can be booked in its branches in Liechtenstein, Switzerland, Luxembourg, British Virgin Islands (BVI). |
Opening balance: |
200, 000 USD, which can be reduced to 100,000 USD upon special agreement with opening officer. |
Minimum deposit: |
250, 000 USD, which has to be in place within 24 months since account opening. |
Service fees: |
Current account 40 USD; deposit 0,25-0,5% quarterly; currency remittance 10-20 SFR; portfolio management 0,6-2,2% p.a. of assets value; sale of funds – free. |
Execution of payments: |
Valuation date – next day for urgent transactions and third day for ordinary payments. |
Account management: |
Teller Transactions, e-banking. |
Timing of opening a bank account: |
1 to 3 days. |
Credit Cards: |
Visa, Visa Gold, Visa Platinum; MasterCard; Service fee 75 USD; Limit of transactions […]; Minimum insurance coverage […] |
Other Products: |
Asset Management Equity Investments, Foreign Exchange, Guarantees, Funds of Funds; Mutual Funds; Share Funds; Fiduciary Time Deposits; Hypothec; Safe Deposits. |
Profitability/reliability of investment products: |
The Bank has over 150 investment share funds with various levels of profitability/reliability. Capital deposit portfolio up to 22% is said to be the most profitable investment product. |
Visit to the Bank: |
Not required. |
The procedure of opening a bank account: |
Interview with a bank officer within VPB Group, where questions on companies activity, expected turnover, number of transactions per month, source of assets, personality of beneficiary, will be asked. |
Requirement: |
Passport; abbreviation from official register for corporate clients. |
Nature of the accounts: |
Current-savings. |
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Another Solid Year For The DIFC
2/22/2012 11:27:00 AM
Despite the impact of the European debt crisis, the global economic downturn and political turmoil in certain parts of the region, the Dubai International Financial Centre continues to strengthen its position as the leading international financial centre in the region.
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| FAQ |
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What is offshore?
The word "offshore" has no precise legal dictionary definition, it simply means "situated or operating in a foreign country or at some distance from the shore" and reflects the fact that most low tax jurisdictions are islands.
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| Portfolio of Laws |
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- BVI - Trustee (Amendment) Act, 2003
- Cayman Islands - The Companies Law (CAP.22) - (2002 Revision)
- Cyprus - The Income Tax Law of 2002
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| Comparison Table >> |
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