Bank Account Opening

Setting up a bank account can be a time-consuming and complicated endeavor, especially for bank accounts in sought-after jurisdictions such as Switzerland, Liechtenstein or Malta. At Citizen Lane, we have well-established relationships with banks and e-money institutions in several jurisdictions and are able to facilitate the process for your convenience.

You have the choice

Depending on your needs we can choose the right bank or e-money service provider for you. We can offer bank account opening services even for citizens or companies from high-risk countries.

Citizen Lane can manage and  assist clients with the opening of:

  • Personal bank accounts,

  • Private banking accounts,

  • Corporate bank accounts,

  • E-money accounts,

  • Bank accounts in Switzerland,

  • Bank accounts in Liechtenstein,

  • Bank accounts in Austria,

  • Bank accounts in Malta,

  • Bank accounts in selected other European jurisdictions.

Due Diligence

In recent years financial institutions have increased their diligence on background checks, and source of funds and wealth information. A bank’s due diligence procedure can take several months to complete; rest assured that with Citizen Lane you will be able to get your bank account opened, typically within a few days to a few weeks.

Benefits of setting up a bank account with Citizen Lane

 

Easy

We’ll make the application process as easy as possible.

 

Fast

Thanks to our established working relationships we have fast access to banks and e-money providers.

 

Access to reputable Private Banks

We work with selected reputable private banks in Switzerland, Liechtenstein and Austria.

 
 

FAQs About Opening a Bank Account

Saving money jar

  • To open a bank account, an applicant typically needs the following documents:

    - certified passport copy

    - certified recent utility bill showing home address

    - in the case of a company bank account, a certified copy of certificate of registration and a recent excerpt from the business registry showing all the directors with signing powers (alternatively certificate of good standing)

    - the source of wealth and source of funds documentation

    - detailed description of the business or business plan

  • Depending on risk profile and bank institution it might be possible to open a bank account without any funds, but typically a minimum amount is requested. This number may vary, however it is usually suggested to have a minimum of EUR 3,000-5,000 transferred to the new account upon opening. For accounts with Swiss private bank assets (cash or financial assets such as stocks or ETFs) at least CHF 1,000,000 (ca USD 1,000,000) is required.

  • Opening procedures (bank due diligence) may be as quick as one week, but may take several weeks or months in complex situations.

  • Generally, a bank account can only be opened for oneself. Nevertheless, we can act as an agent with a power of attorney on your behalf to ensure that you can get your bank account.

    Depending on your needs and personal situation (the overall risk profile, as certain countries are considered by certain banks as high risk), we do work with several institutions some of them even may under the right conditions (passed due diligence, clear source of wealth and funds) open bank accounts for medium and high-risk country nationals. Nevertheless, there are certain nationalities which are non-eligible.

  • There are multiple benefits for opening a bank account in a different jurisdiction, but the main two advantages for doing so are for:

    - enabling or easing business across Europe and the western world

    - asset protection

    In the case of opening a bank account with a Swiss private bank:

    - professional wealth management

    - banking privacy

    - other private client perks

Our Guidance & Assistance

Through our dedicated experience in the field and building our dependable network over the years, we are confident in our abilities to successfully guide and support you through Citizenship and Residency programs.

Citizen Lane respects every client’s unique situation and will be able to discuss details in confidence. We will provide you with comprehensive advice and find the appropriate solution for you and/or your family. Visit us at our offices located in Malta, Austria, Germany, and Switzerland, or contact us by phone/email/contact form. Our team is ready to arrange a WhatsApp, Skype, or Zoom call with you.