13 Aug 2003 - Bank accounts in Monaco
MONACO CORPORATE
SECRETARIAT
International tax planning
Protecting your assets is our mission
we can stop governments taking your money
Bank accounts
- Opening of a Monaco bank account for both individuals and companies is part of the service M.C.S. can offer you.
- We have working relationships with banks who will under most circumstances open an account for an offshore company or individual, provide a credit card and an international access pin to allow you to monitor your cash movements from anywhere in the world by internet.
Current 'know your own client' due diligence means that the banks require certain conditions as follows:
- they will want references on you from at least one internationally known major bank,
- they will want details of any criminal conviction or bankruptcy,
- they want a minimum of € 50,000.- deposited at their bank before they will issue an account number,
- they will need a letter of comfort from you informing them of the purpose of the bank account, where funds that will be credited to the account are coming from and how you intend to invest the funds (they obviously prefer that you invest some of these funds with them).
- they will issue a corporate VISA charge card (which you can use to take cash out) providing you block € 10,000.- as a guarantee into a separate account with them, which earns interest. This is security against any fraudulent misuse of the card.
- notarised copies of passport(s) of the beneficial owner(s) of the company, and beneficial owner(s) utility bill copies.
- the bank requires to meet the beneficial owner in Monaco before opening the personal or company account.
Monaco banks will not open accounts (or accept money from) individuals or companies who are from the following jurisdictions: Nigeria, Russia, the Ukraine, Cook Islands, Nuie, Egypt, the Sudan and Indonesia.
We at M.C.S. can facilitate the smooth protocol of opening bank accounts locally by ensuring the proper introductions are made and the bank procedures are followed correctly and the paperwork completed.
Because of the lengthy procedure involved in the opening of a bank account for an individual/offshore company we charge €1,000 for this introduction and follow through work.
For further information
Please contact :
Derek R. SMITH of M.C.S
Email: assetprotect@libello.com
Tel +377 9797 6230
Fax +377 9797 6233
While every effort has been made to ensure that this information sheet is accurate and up-to-date we cannot be held responsible for any errors or omissions.
International tax planning
Protecting your assets is our mission
we can stop governments taking your money
Bank accounts
- Opening of a Monaco bank account for both individuals and companies is part of the service M.C.S. can offer you.
- We have working relationships with banks who will under most circumstances open an account for an offshore company or individual, provide a credit card and an international access pin to allow you to monitor your cash movements from anywhere in the world by internet.
Current 'know your own client' due diligence means that the banks require certain conditions as follows:
- they will want references on you from at least one internationally known major bank,
- they will want details of any criminal conviction or bankruptcy,
- they want a minimum of € 50,000.- deposited at their bank before they will issue an account number,
- they will need a letter of comfort from you informing them of the purpose of the bank account, where funds that will be credited to the account are coming from and how you intend to invest the funds (they obviously prefer that you invest some of these funds with them).
- they will issue a corporate VISA charge card (which you can use to take cash out) providing you block € 10,000.- as a guarantee into a separate account with them, which earns interest. This is security against any fraudulent misuse of the card.
- notarised copies of passport(s) of the beneficial owner(s) of the company, and beneficial owner(s) utility bill copies.
- the bank requires to meet the beneficial owner in Monaco before opening the personal or company account.
Monaco banks will not open accounts (or accept money from) individuals or companies who are from the following jurisdictions: Nigeria, Russia, the Ukraine, Cook Islands, Nuie, Egypt, the Sudan and Indonesia.
We at M.C.S. can facilitate the smooth protocol of opening bank accounts locally by ensuring the proper introductions are made and the bank procedures are followed correctly and the paperwork completed.
Because of the lengthy procedure involved in the opening of a bank account for an individual/offshore company we charge €1,000 for this introduction and follow through work.
For further information
Please contact :
Derek R. SMITH of M.C.S
Email: assetprotect@libello.com
Tel +377 9797 6230
Fax +377 9797 6233
While every effort has been made to ensure that this information sheet is accurate and up-to-date we cannot be held responsible for any errors or omissions.