Liechtensteinische Landesbank (Österreich) AG
Personal Account Opening in Austria
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FACTS & INFO
About the Bank
The Liechtensteinische Landesbank (Österreich) AG is a 100 % subsidiary of the Liechtensteinische Landesbank AG in Vaduz and independent banking institution to Austria law. Liechtensteinishe Landesbank was established in 1861 in Liechtenstein, currently has its branches in Austria, Switzerland and United Arab Emirates (Abu Dhabi and Dubai).
The State of Lieachtenstein (AAA rating by Standard & Poor's) is the main shareholder of the bank, holding 57,5% of shares, group performance is CHF 72,6 million with CHF 50,2 billion of customer assets, Tier 1 ration 18,3 per cent and shareholders' equity of CHF 1,8 billion. The LLB Group increased its annual profit in 2015 by 19.7% to CHF 86.3 million. With the StepUp2020 strategy, the focus over the next five years will be on sustainably profitable growth.
LLB bank has an outstanding overall rank in the Fuchsbriefe Test and ranked 10 out of 84 banks tested, belongs to top 3 banking institutions in Austria with the category 'absolutely recommendable asset manager in the German speaking countries'.
REQUIREMENTS FOR CORPORATE ACCOUNT SET UP WITH LIECHTENSTEINISHE LANDESBANK (ÖSTERREICH) AG
- Client's personal presence in the bank is necessary. The bank can organize the meeting in Vienna, in client's home country or in third-party country.
- The minimum required balance is EUR 500,000 or equivalent in another currency. The minimum balance must be transferred to the account within 1 year.
- The private banking relations in form of investments in securities or asset management mandate are obligatory.
- Confirmation of source of funds of the client will be required (e.g. tax declaration, salary confirmation, confirmation of dividend distribution including balance sheet of the company, contracts, etc.)
- Notarized copy of valid passport.
The passport must be signed and signature must match the signature in the application form. The photograph must be clear and of good quality.
- Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
- Original or notarized copy of Banker's reference letter, dated within 3 months
- Personal CV
WHAT LIECHTENSTEINISHE LANDESBANK (ÖSTERREICH) AG OFFERS:
LLB (Österreich) AG has created a unique and pioneering pricing model for investments with retrocession-free asset management and investment advice that started in 1 April 2015.
As part of the new pricing structure, the bank waived retrocession fees on its own funds as well as those of third parties, therefore clients of the bank benefit from more transparency, a highly simplified fee structure and significant reductions in overall costs for all of clients' LLB funds.
- Current accounts for individuals and legal entities
- Numbered accounts
- Master or Visa Credit Cards
- View only Internet Banking (view only)
- Multilingual customer support
- Asset Management
- Investment & strategy advice
- Investment Advisory Services
- Financial planning
- Portfolio management (execution only)
- Settlement platform for external asset managers
- Fund services
- Stock and foreign exchange trading
- Mortgage and Lombard loans
- Multi family office
- Transfer of residence
- Consulting for foundations
- Consolidated portfolio analysis and reporting system
The approximate timeframe for account allocation is 7 to 14 business days upon receipt of the required documentation by the bank and a face-to-face meeting.BANK TARIFFS AND CHARGES
LLB (Österreich) AG can be considered as a medium-cost bank with respect to account maintenance and bank transfers. LLB (Österreich) AG charge 0,25% of the amount (min. EUR 15) for SEPA money transfers of more than EUR 20'000 and Non-SEPA money transfer in all currencies. Outgoing transfers for SEPA money transfers of up to EUR 20'000 are free of charge.There are no fees for incoming transfers. The account maintenance cost is EUR 50 per quarter.
- PLEASE NOTE that bank tariffs may be changed anytime at the sole discretion of the bank, we therefore suggest to contact us or visit the bank’s website for updated details on specific fees and charges.
- STARTING BUSINESS professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit or minimum balance.