Head of practice
Head of Corporate Law and Fintech Practice. Expert in the creation and reorganization of companies, support of M&A transactions, as well as legal support for opening and running a business in the EU, Asia, and North America.
Opening a premium private banking account abroad
For wealthy individuals, entrepreneurs, investors, and owners of international businesses, a bank account has long ceased to be just a tool for payments. Modern private banking combines wealth management, investment solutions, international tax planning, asset protection, and personal banking service.
That is why opening a premium or private banking account abroad requires significantly more preparation than opening a standard personal account. The bank analyzes not only the identity of the client but also the structure of their assets, sources of wealth, tax residency, and long-term financial goals.
In practice, a correctly chosen private bank can become a key element of the international wealth and investment management structure.
Who is private banking suitable for
Contrary to popular belief, private banking is not only intended for billionaires or owners of large corporations. Most often, such services are used by:
- business owners;
- investors and traders;
- partners of legal and consulting companies;
- shareholders of international groups of companies;
- founders of IT and fintech businesses;
- family offices;
- individuals who have sold a business or received a significant income from investments.
Each bank independently determines the minimum asset threshold for entering private banking. In Europe, it often starts at 250,000–500,000 euros, while leading Swiss banks may set significantly higher requirements. In addition to the amount of assets, banks assess the structure of the client’s wealth and the prospects for long-term cooperation.
What documents do private banks request
Modern private banking is under the same AML control as the corporate sector. In many cases, the verification of a wealthy client is even more thorough.
During onboarding, banks usually analyze:
- sources of wealth origin (Source of Wealth);
- sources of funds origin (Source of Funds);
- tax residency;
- asset structure;
- corporate assets and shares in companies;
- history of receiving income;
- investment experience of the client.
Particular attention is required for entrepreneurs who own companies in different countries, work with digital assets, or have complex holding structures. That is why document preparation often takes more time than the actual opening of the account.
| Client Type | Main Object of Verification | Most Important Document |
|---|---|---|
| Entrepreneur | Sale of business and dividends | Corporate documentation |
| Investor | Investment portfolio | Confirmation of assets |
| Family Office | Capital structure | Source of Wealth |
| IT entrepreneur | Income from companies | Financial reporting |
Why banks refuse even wealthy clients
Having significant assets does not guarantee the successful opening of an account. On the contrary, the larger the capital, the more questions arise for the compliance department. The most common reasons for refusals are:
- inability to confirm the origin of wealth;
- complex international ownership structures;
- tax risks;
- use of nominee owners;
- connection with high-risk jurisdictions.
Banks analyze with particular care funds received from cryptocurrency transactions, the sale of a business, investment funds, and international trade. In practice, success depends on how well the client can documentarily explain the history of the formation of their assets.
How “Prikhodko & Partners” helps to open a private banking account
The “Prikhodko & Partners” team provides support for opening premium and private banking accounts in leading banks in Europe, Switzerland, the UK, the UAE, and other international financial centers.
We start work by analyzing the structure of the client’s assets, their tax residency, sources of income, and future financial goals. This allows us to determine not only the appropriate bank but also the optimal model of interaction with it.
“Prikhodko & Partners” specialists help to prepare Source of Wealth and Source of Funds documentation, structure corporate assets, confirm the source of funds, and accompany communication with the bank at all stages of verification.
Our expertise at the intersection of international corporate law, tax structuring, and bank compliance is of particular value to clients. Thanks to this, we can assess risks even before submitting documents and form a package that meets the expectations of a specific bank.
For many clients, private banking is only a part of a broader asset management strategy. That is why we also advise on international holding structures, family offices, tax residency, and capital protection in an international environment.
Do you want to open a premium or private banking account abroad? Our team will ensure the competent preparation of documents to confirm wealth, select a reliable financial institution, and accompany you at all stages of passing bank compliance.
Calculate the cost of services
1 question
Are you interested in a private banking or premium banking service?
2 question
Do you own an international business or corporate assets?
3 question
Are you planning to open an account in a foreign bank?
What is the minimum amount required to open a private banking account?
Requirements depend on the bank. In most cases, the threshold starts at 250,000–500,000 euros of assets under management, but some banks work with larger or smaller amounts.
Can I open a private banking account for cryptocurrency assets?
Yes, however, the bank will require detailed confirmation of the origin of the assets and the history of their formation.
Is it necessary to be a tax resident of the bank's country?
No. Most international private banks work with non-residents if the client can confirm their tax residence and the legal origin of their wealth.
You may also need:
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Read moreREGISTRATION OF A BUSINESS (FIRM) IN THE CZECH REPUBLIC
Read moreBANK REGISTRATION IN CYPRUS
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Read moreBrand name registration
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Read morecall back
during the day
Compensation for moral, material damage
Protection of honour, dignity, and business reputationContract Development for Business and Legal Entities
Licensing of business activities
Compensation for moral, material damage
Legal services in the field of cryptocurrency and blockchain
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European Court of Human Rights (ECHR)
