How to Open an Account with CIM Banque SA

Parameter;Details

Year of Establishment;1990 History;Established in 1990 under the name Unibank (Suisse) SA. Renamed CIM Banque SA in September 1993. Staff;Includes Russian-speaking employees Bank Shareholders;Cofisi SA – 87.17%, Aurocofisi SA – 12.83% Confidentiality;Legal assistance treaty with Russia concluded. Double taxation agreement concluded. Strict compliance with AML legislation. Active member of OECD, FATF, Basel Committee, Egmont Group, etc.

Parameter;Details

Minimum Balance;Common bank practice is to maintain a minimum balance of 10,000 CHF Permitted Number of Transfers;No limit on the number of transfers Initial Deposit;10,000 CHF or equivalent in USD/EUR Deposit Deadline;The initial deposit must be made within 1 month Minimum Annual Turnover;Any turnover is welcome Payment Execution Time; Standard: value date T+3. Express: same day (double fee applies)

Parameter;Details

Transfer, € (for amount €50,000); Outgoing EUR payment fees (for transfers outside the EU and Switzerland via online banking) depend on the amount: 0 – 1,999 EUR – 10 EUR. 2,000 – 4,999 EUR – 15 EUR. 5,000 – 19,999 EUR – 25 EUR. 20,000 – 49,999 EUR – 50 EUR. 50,000 – 99,999 EUR – 100 EUR. 100,000 – 199,999 EUR – 150 EUR. 200,000 – 499,999 EUR – 250 EUR. 250,000 – 999,999 EUR – 350 CHF. 1,000,000 – 1,499,999 EUR – 450 EUR, over 1,500,000 EUR – 0.030% Incoming payment, € (for amount €50,000);Incoming transfer fees (for payments from outside the EU and Switzerland via online banking) depend on the amount: 0 – 1,999 CHF – 15 CHF. 2,000 – 4,999 CHF – 30 CHF. 5,000 – 19,999 CHF – 50 CHF. 20,000 – 49,999 CHF – 100 CHF. 50,000 – 99,999 CHF – 150 CHF. 100,000 – 199,999 CHF – 250 CHF. 200,000 – 499,999 CHF – 350 CHF. 500,000 – 999,999 CHF – 450 CHF. 1,000,000 – 1,499,999 CHF – 550 CHF, over 1,500,000 CHF – 0.035% Account maintenance, €/year;Account opening fee (if initial deposit is less than 20,000 CHF): 150 CHF. Quarterly maintenance fee: 120 CHF for legal entities, 90 CHF for individuals. Account closing fee: 300 CHF. No opening fee if initial deposit exceeds 20,000 CHF. Credit card payment limit, €/day;Minimum payment limit is 5,000 EUR/day. Credit card insurance coverage, €;Insurance coverage equals 100% of the payment limit. For a minimum limit of 5,000 EUR, the coverage is 10,000 EUR. Account management;Online banking available via Digipass (issued for 100 CHF). The Digipass fee is included in the maintenance fee. Users can execute transactions, view account statements, make transfers, trade online on Forex and futures markets, and manage securities portfolios. Banking products;Financial and investment advisory. Trust management. Lombard loans. Dedicated “International Trade Services” department offering bank guarantees and full-collateralized trade finance. Credit cards;Visa, Mastercard, American Express. Issuance of MasterCard and Visa Gold – 200 CHF + annual fee of 400 CHF, guarantee of 1% annually (minimum 120 CHF). Prepaid cards by Swiss Bankers, Visa, MasterCard – free issuance and annual service, activation fee – 45 CHF, usage fee – from 1 EUR per transaction. Debit cards available (spending limited to card account balance). Swiss Bankers Travel Cash cards also available. Statement storage;Mailing costs: 100 CHF annually + 25 CHF monthly. If online banking is used, mailing costs can be excluded.

Parameter;Details

Bank Visit;A physical visit to the bank is not required, however, a meeting with a bank representative is mandatory and may take place remotely via video conference. Required documents;Originals or apostilled copies of corporate documents, company balance sheet, apostilled copies of passports of shareholders, directors, and account manager. Preference is given to simple ownership structures. In addition to the standard corporate document package, as of August 1, 2019, the bank requires: Proof of physical presence in the company’s country of registration (e.g., office lease or sublease agreement). Proof of effective management in the country of registration (e.g., employment contracts with staff — not including directors or shareholders). Proof of accounting/reporting activity.If the company fails to provide documentation confirming its actual presence in the country of registration, it will be classified as a passive entity, and its information will be reported to tax authorities at year-end under the automatic exchange of information (AEOI). Types of accounts;Savings, Current Account opening procedure and due diligence;Account opening is possible without traveling to the country where the bank is located. A meeting with a banker is also not required. Likelihood of account opening;Assessable / Predictable Business activity description;Moderately detailed: in addition to a general business description, information must be provided on the source of funds.