Financial security for your business and family

Financial security for your business and family
19.04.2022

Recently, some of the most common questions we’ve received from our clients include: “What does it take to open a bank account in one of the safe financial hubs, e.g. Switzerland, Liechtenstein, or Luxembourg?”; “How can I protect my assets and keep a number of eggs in different baskets?”; and, “How to buy gold straight to my bank account?”.

The answer to all of these questions is simple: diversification. Diversification between asset classes as well as jurisdictions is a cornerstone of sound financial planning.

1st STEP works with several private banks in international financial hubs, also known as “safe havens”. We can assist you with banking introductions and account openings. Keeping some assets abroad and having an additional bank or brokerage account provides extra financial security for your business and family. Private banking in Switzerland, Liechtenstein and Luxembourg provides an excellent opportunity for diversification.

Most of the banks we work with accept Malta corporate structures as well as Malta Private Foundations. Why Malta Foundation? You can read a deep dive article on this here.

Your Benefits:

  • Access to banking in Switzerland, Liechtenstein, or Luxembourg
  • Deposit guarantee of up to EUR/ CHF 100,000
  • Debit or credit cards for your business
  • Debit or credit cards for you and your family members
  • Multi-currency accounts
  • International payments and transactions
  • Asset and wealth management
  • Access to global financial instruments
  • Holding precious metals (gold etc.) on your account
  • Financial advisory, and tailor-made banking services
  • Lombard loan facilities
  • Security and safety, peace of mind for people in politically/financially unstable countries
  • Well-regulated and safe banking jurisdictions
  • Possibility of opening an account remotely
  • Instant access to your money through online banking
  • Tax efficiency for Malta corporate structures
  • Tax transparency option for Malta Private Foundations
  • Obtaining tax residency in EU
  • Diversification of your assets and wealth, keeping some money abroad

Requirements of private banking for non-residents:

  • Compliance with minimum Assets Under Management (AUM) requirements.
  • A clean record and background of beneficial owners and source of funds.
  • Minimum initial deposit and Assets Under Management varies from bank to bank.
  • Most private banks require at least €100k deposit to open an account for non-residents.
  • You are required to keep the minimum required amount invested in order to maintain the account.

Transaction costs and administrative fees are usually higher for non-residents. Upon request, we can provide you with a complete list of fees prior to opening an account for your business or family. Switzerland, Liechtenstein, and Luxembourg are reliable financial hubs with a good reputation and history, and have high quality of banking services.

Transaction costs and administrative fees are usually higher for non-residents. Upon request, we can provide you with a complete list of fees prior to opening an account for your business or family. Switzerland, Liechtenstein, and Luxembourg are reliable financial hubs with a good reputation and history, and have high quality of banking services.

Key takeaway: history has consistently shown us that keeping your eggs in different baskets is a wise decision. During periods of crisis the seemingly “extra steps” taken to protect your assets may well pay off in the long-run. It keeps us — as leaders of our families and businesses, as investors and protectors of our wealth — on track for great and successful long-term outcomes.

What would it take to keep your eggs in different baskets and protect your assets?

Hint: Keeping some of those assets in a financial safe haven!

We’re here to help and guide you.

Why 1st Step?

Opening a corporate bank account abroad is a procedure that requires knowledge of laws and regulations.

This is a competence that we have curated over many years in business.

It’s not easy to open a foreign account without the help of professionals and 1st STEP’s expert team has many years of combined experience — understanding the specifics, laws, and regulations of each jurisdiction.

We will support you at all stages of the procedure, from choosing a bank that suits you best, to making an introduction and submitting the required documents as well as giving you ongoing assistance for further maintenance of your account.

We are so confident in our competence that we guarantee our clients a refund of our service fee if we don’t succeed.

Latest:

Menu