About LGT Bank Osterreich

LGT Bank Österreich (hereinafter referred to as LGT Austria) is a relatively young branch of one of the veteran banks. This branch of Liechtenstein's largest bank LGT Bank, founded back in 1920 by the princely family of the mini-state, was opened in 2007.

In a short period of its existence, LGT Austria managed to gain a reputation as one of the most reliable and stable private banks not only in Europe but throughout the world. As a result of the activities of the employees of this financial institution, the official owner of which is the Prince of Liechtenstein, LGT Austria was assigned an A + rating in 2011, which is a rather rare occurrence for private banking structures.

Bank services

It should be noted that the Bank does not work with operational accounts, but is an investment and savings bank offering private banking services.

The LGT Group is one of the leading asset managers for private and institutional clients among private banks offering private banking services. The LGT Group has operating banks (booking centers) in Austria, Switzerland, Liechtenstein, Hong Kong and Singapore. As part of its private banking services, the LGT Group offers a range of mutual funds for traditional and alternative asset classes. LGT can also structure products for clients, and offer "trust management" services.

According to numerous customers, LGT Austria is quite reliable, as it adheres to a policy that avoids engaging in risky transactions. Therefore, all the services that are provided to customers here are of a classic nature. Among them are the following:

• Investment instruments that allow stabilizing the situation in markets with an unstable financial and economic situation.
• Trading in securities on behalf of the client.
• Issuance of Master Card, Visa and Maestro payment cards of personal and non-personal nature.
• Professional asset management.
• Provision of pawnshop loans.
• Regular monitoring of client assets with recommendations to increase profits.

Advantages

• The presence of 29 representative offices in various countries of Europe and Asia.
• The possibility of opening an account without a visit to the bank. Foreign investors will only need to meet with a bank representative within 6 months after opening an account.
• Short terms for issuing an account (the whole procedure takes from 3 to 5 days).
• The presence of Russian-speaking staff, which simplifies communication with bank managers.

Documents required for account opening

One of the most demanded services provided by Finance Business Service is the opening of accounts in foreign banks. Our employees help quickly, accurately and reliably go through the entire procedure, for which we inform clients in advance about the necessary documentation that needs to be prepared before issuing invoices. Below is a list of documents required when registering such an account for legal entities:

• charter of a legal entity,
• certificate of incorporation,
• extract from the register of the state of registration of the legal entity,
• Certificate of Incumbency (Certificate of Incumbency)
• Certificate of Good Standing (this document will be required for companies and organizations over 1 year old),
• certificates of each officer, shareholders of the company, secretary and address of registration of a legal entity,
• registers of officials, shareholders and shares.

Separately, packages of documents from all officials of the legal entity and from the beneficiary will be required. Below is a list of the required documentation, confirming the identity of the reliability and professional suitability of each of them:

• international and national passports (copies of all pages are required),
• a professional resume written in a free form, but with the obligatory indication of data on education and places of work,
• certificate from the last place of work (original, according to the provided form) or a certificate of a private entrepreneur,
• a questionnaire filled out according to the documents provided by the agent and signed by the beneficiary.

Some overseas banks may also require a range of additional documentation. Most often, this includes the following certificates, statements and certificates:

• original bank statement on the state of the account to confirm non-bankruptcy,
• original certificate of non-conviction,
• the original statement of political non-involvement, written on the provided form,
• the original description of the source of wealth, written in the form provided,
• copy of one of your recent utility bills clearly showing your name and address.

All documents, if it is specified in the requirements, must be translated, apostilled and certified by a notary.

Additional Information

In Austria, LGT Bank offers Master Card and Visa credit cards, currency transfers and conversions, pawn loans and residential mortgages in Austria, Germany, Switzerland, Monaco, France and the UK. Mortgages are offered as additional services to private banking. At LGT Austria, the minimum threshold for a client starts at around $700,000. If the client has the potential and opens a private account, then you can start with $300,000. Of course, each request can be considered separately.

We list other conditions that are of high importance when working with LGT Austria:

• During the first year of using the account, a minimum balance of EUR 300,000-500,000 must accumulate on the balance sheet. The exact amount is set on an individual basis.
• The bank uses only corporate and investment savings accounts in the main "hard" currencies. At the same time, LGT Austria does not conduct settlement and cash transactions.
• Account management is carried out by phone with payment notifications sent by fax. Internet banking is used only to view information, which greatly increases the level of asset security.

Austria's Corporate Law