Ben Todd | Apr 16, 2017 | 3
How To Open An Offshore Bank Account In Lichtenstein
Liechtenstein is no longer a tax haven, so forget hiding your money there. Nevertheless, there are still plenty of reasons to open an account in Liechtenstein, but it has become a lot harder these days. Liechtenstein banks operate the same way that banks in Switzerland operate, but they have paid millions in fines to the US, which is why they have mostly closed their doors to US citizens. Here is a quick rundown of what you can do and what you can try in order to open an offshore bank account in Liechtenstein.
You Need A Lot Of Money
If you wish to stand any chance of getting an account in Liechtenstein, you will need a lot of money and the ability to prove where you got it from. Ideally, you should also have a large, provable and legitimate income.
Liechtenstein banks have paid millions in fines, which has scared them away from opening accounts for US citizens, but on the flip side, the same banks need fresh money more than ever. If you can go out of your way to prove your money is legitimately earned and that you pay all your taxes, you may stand a slim chance of convincing them to open an account for you.
Become A Permanent Resident Of Liechtenstein
It may seem like a long way to go to open an account, but if they are only offering accounts to locals–then become a local. You may also try becoming a student or working in the country temporarily. If you can ally that with a recommendation from the local company you are working for, then you may stand a chance of opening an account.
Do Not Use An OSP (Offshore Service Provider)
Liechtenstein’s old reputation for being a tax haven is still lingering around, which is why so many online companies offer to be an intermediary. We strongly suggest you do not try any OSP because there is nothing they can do that you cannot do yourself. In addition, many of them are still selling Liechtenstein as a secret tax haven–and it simply isn’t!
Contact The Banks Personally Over The Internet And Phone
They each have their own rules and attitudes. It is incredibly difficult for a US citizen to get an account in Liechtenstein, and this article can only go so far as to helping you. Once you know more about banking in Liechtenstein, we suggest you contact each one personally and ask them what you have to do to apply and what you have to do to improve your chances of acceptance.
[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][+] Verwaltungs- und Privat-Bank
[+] Kaiser Partner Privatbank
[+] Centrum Bank
[+] EFG Bank von Ernst
[+] Liechtensteinische Landesbank
[+] Bank Vontobel (Liechtenstein)
[+] Lamda Privatbank
[+] Bank Frick & Co.
[+] Banque Pasche (Liechtenstein)
[+] LGT Bank in Liechtenstein
[+] Raiffeisen Privatbank Liechtenstein
[+] Bank Alpinum
[+] Valartis Bank (Liechtenstein)
[+] Neue Bank
Nagging Them And Trying Again
In our experience, your level of success is determined by your opening pitch. Simply asking for information, or asking where you may get more information, is usually the safest way to avoid having them hang up on you.
Starting out by asking if you can open an account will often get you the reply, “Sorry, we are not currently opening offshore accounts” or some variation on that excuse. We had moderate success by asking for details because we were writing an article about it. There is also anecdotal evidence that they will talk to you for longer on the phone if you speak German.
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If your first phone call is unsuccessful, then give it a few days, call from a different number, and try a different pitch. If you know people that have accounts with the bank, then you could try name-dropping or having them write you a letter of recommendation. Even if you become frustrated, do not consider an intermediary OSP because it is not worth the risk.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]