How to open a bank account in Bank J. Safra Sarasin Ltd

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Year Established;1941 History;The origins of Bank J. Safra Sarasin Ltd, a prominent Swiss bank, date back to the mid-19th century. In 1941, Johannes Riggenbach founded a firm specialising in financial operations and logistics. By 1900, the bank was named A. Sarasin & Cie. In late 2011, it was acquired by the renowned Safra banking group. Staff;The bank's team is fluent in Russian and English. A dedicated Russian Desk operates in Zurich (3 employees) and Geneva (8 employees). Bank Shareholders;The majority shareholder is the Safra Group, a leading international private banking institution. Confidentiality and Compliance;Mutual Legal Assistance Treaty with Russia: In place. Double Taxation Agreement: Active. AML Compliance: Strict adherence. Member of key global regulatory bodies: OECD, FATF, Basel Committee, Egmont Group, among others.

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Minimum Balance Requirement;EUR 1,000,000 – This is the mandatory minimum account balance set by Bank J. Safra Sarasin Ltd, a respected Swiss bank based in Zurich. Permitted Number of Transfers (per month);Commercial transactions are not permitted. However, intra-group transfers (e.g. financing of group-affiliated companies) are allowed, subject to proper documentary evidence. Initial Deposit;A progressive funding schedule applies: EUR 200,000 in the first month, another EUR 200,000 in the second month, continuing monthly until the EUR 1,000,000 balance is reached within one year. Timeframe to Reach Minimum Balance;The required minimum balance must be fully deposited within 12 months from account opening. Payment Execution Time;Value date is typically set for the next business day following the instruction.

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Outgoing Transfer Fee (EUR 50,000);Approximate cost: EUR 20 per transaction Incoming Transfer Fee (EUR 50,000);No fee is charged by Bank J. Safra Sarasin Ltd for incoming transfers Annual Account Maintenance Fee;EUR 150 per year for personal accounts. Corporate and numbered accounts are subject to higher fees, depending on the account balance Account Closure Fee;Up to CHF 2,500 may apply when closing an account Credit Card Payment Limit (per day);Minimum daily spending limit: EUR 5,000 Credit Card Insurance Coverage;Minimum coverage: EUR 20,000 per card Account Management;Internet banking is available in both passive mode (view-only) and active mode (transactional access) Investment Products;The bank offers a comprehensive range of investment products, with a focus on proprietary instruments but also includes selected third-party solutions Credit Cards;Available card brands: VISA and MasterCard Statement Storage;Annual fee for physical or secure statement archiving: EUR 600

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Visit to the Bank;A personal meeting with the prospective client is mandatory for account opening. Required Documentation;Copy of valid passport. Standard corporate document set. Preferably, publicly available information on the beneficial owner. If unavailable, a bank officer may visit the company’s office. Account Type;Savings Account Account Opening Procedure & Due Diligence;Account opening is possible without travelling to Switzerland, depending on circumstances. Probability of Account Opening;Predictable, provided all documents and compliance checks are satisfactory. Business Activity Description;A reasonably detailed overview is required, including both the nature of the business and a clear declaration of the source of funds.