Falcon Private BankCorporate Account

Falcon Private Bank is a Swiss private banking boutique with 50 years of expertise in wealth management. The bank provides first-class financial services to private clients and wealthy families from its headquarters in Zurich, and branches and representative offices in Geneva, London, Singapore, Abu Dhabi and Dubai.

Founded in Zurich in 1965 as Ueberseebank, the Bank was renamed AIG Private Bank in 1998 and following a change of ownership, the name Falcon Private Bank was launched in 2009. Since 2009, Falcon Private Bank is owned by International Petroleum Investment Company (IPIC), one of the world’s leading sovereign wealth funds from Abu Dhabi.

In 2014, total assets of Falcon Private Bank AG were 3 467.67 mio CHF and the gross profit - 19.00 mio CHF.

All credit institutions operating in Switzerland are obliged to participate in Swiss deposit guarantee scheme, which compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations. In the case of Falcon Private Bank AG failure, eligible depositors having covered accounts in this bank will be paid out the maximum protected amount of 100,000 CHF compensation.

WHAT FALCON PRIVATE BANK OFFERS:

The bank offers easy execution of transactions, comprehensive portfolio administration and transparent reporting. Clients get direct access to Emerging Markets and exclusive investment opportunities:

• Corporate and personal accounts (cash accounts and precious metal accounts in all major currencies).
• Master or Visa Credit Cards
• Full Internet Banking
• Multilingual customer support
• Custody
• Cash Management: escrow accounts, fiduciary-deposits
• Lending
• Exclusive investment opportunities
• Direct Trading Access
• Investment Advisory Services
• Portfolio management

The approximate time-frame for account allocation is 2- 3 weeks upon receipt of the required documentation by the bank and a face-to-face meeting.

BANK TARIFFS AND CHARGES

The Falcon Private Bank can be considered as a high-cost bank with respect to service fee and account maintenance. Depending on the banking package chosen the annual account maintenance fee can range from CHF 1,200 to CHF 2,200; dormant account fee is CHF 1,500. Charges of international payments excluding 3rd party charges are CHF 85.
Custody fees are calculated on a cumulative basis and charged on the portfolio value excluding cash, fixed-term deposits and fiduciary deposits.
The execution all-in fee and management fee are charged on the total portfolio value and available to clients with a regular trading volume.
The minimum advisory fee is CHF 6,000 (p.a.).

PLEASE NOTE that bank tariffs may be changed anytime at the sole discretion of the bank, we therefore suggest to contact us or visit the bank’s website for updated details on specific fees and charges.

Agent Legal professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit or minimum balance.

REQUIREMENTS FOR CORPORATE ACCOUNT SET UP WITH FALCON PRIVATE BANK

• Client's personal presence in the bank is not necessary, however this will depend on the case. The bank can organize the meeting in Switzerland or in client's home country.
• The initial balance required is CHF 500,000 or equivalent in another currency. The assets must increase to CHF 1 mio. within 12 months
• Required account balance is CHF 1 - 3 mio depending on business activity.
• The private banking relations in form of investments in securities or asset management are obligatory.
• Account opening timeframe. The account will be activated within 2-3 weeks, upon receipt by the bank of all duly completed forms and relevant information.
• Confirmation of source of funds of the client will be required (e.g. salary confirmation, confirmation of dividend distribution including balance sheet of the company, contracts, etc.)
• U.S. citizens (including persons with dual citizenship), U.S. residents, entities incorporated or organized in the U.S.A will not be accepted for account opening.

DOCUMENTS REQUIRED

For the Company:

A set of legalized company documents consisting of:

• Certificate of Incorporation
• Memorandum and Articles of Associations
• Documents confirming the appointment of company directors and secretary (if any)
• document confirming the location of the registered office
• Share Certificate(s)
• Certificate of Good Standing if the company is more than 12 months old
• Copy of the Corporate Structure, identifying the ultimate beneficial owner(s)
• Valid License (if applicable)

For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:

• Notarized copy of valid passport.
  The passport must be signed and signature must match the signature in the application form. The photograph must be clear and of good quality.
• Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
• Original or notarized copy of Banker's reference letter, dated within 3 months
• Power of Attorney (where applicable)
• Personal CV

For each corporate officer (where the company directors or shareholders are legal entities), please provide:

A set of legalized company documents consisting of:

• Copy of constitutional documents (Certificate of Incorporation, Articles, etc.).
• Copy of Corporate Register (which shall include Register of Shareholders, Directors and Secretary).
• Copy of the Corporate Structure.
• Certificate of Good Standing.

IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES

If you conduct any activity without required license or authorization granted by a relevant authority in any jurisdiction, Agent Legal will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.

Licensable activities include, but not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking business; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

Please contact us if you need our assistance in licensing of your financial, Forex brokerage or gambling company.