How to open a bank account in Liechtenstein

One of richest principalities in the world, nested in one of the world's richest financial corridors bordering Switzerland and Austria, Liechtenstein is a small German speaking jewel inside the alps that attract plenty of workers from its neighboring countries all of which live there seeking its riches, ultra high standard of living, interesting cultural landscape and a place to practice some winter sports.

If you are thinking of making Liechtenstein your home, you will need a bank account to move money around, to send money back home and to live day to day. Here is our guide on how to open a bank account in Liechtenstein.

Documents needed to open a bank account in Liechtenstein

To protect itself against money laundering and fraud, the country has a rather strict policy for opening bank accounts and generally speaking it will require that you deposit a rather large initial amount in order to open an account for you. These requirements may change so we think it is best to contact the bank directly.

Passport
Income statements
Income statements

We suggest you call ahead to setup an account as that will make things a bit easier for you and you will be able to find out all the correct documentation beforehand.

Can I open a bank account in Liechtenstein as a non-resident?

Yes it is possible to open a bank account as a non-resident in Liechtenstein but you are likely to be required to have a large initial deposit and you will be paying large fees. We recommend it is best to call the banks and rather information directly as most banking in the country is a rather private affair despite the presence of at least 3 large retail banks in the country.

Best banks in Liechtenstein

There are few banks in the country, different to other small but wealthy principalities. The banks that are available are mostly interested and focusing their energy on high networth investors and business accounts but there is room for individual banking needs such as current accounts with debit cards.

Raiffeisen Privatbank: elsewhere in the world, this is a retail bank and in Liechtenstein it is a private bank with a focus on private banking and institutional clients. They have all traditional investment and portfolio management options, expert networks to help in a variety of business fields, a wide range of funds to choose from and stellar customer service.
Banque Havilland: this is a small family owned bank tailored for high networth individuals and private investor groups. They have accounts, credit cards, foreign exchange services and plenty of finance and asset management options.
LGT: a highly rated private bank with individual advice and a comprehensive set of service offers. According to them, they have exclusive access to investments, a passion for wealth preservation and a full service wealth management and financial planning personnel to help you make financial decisions.
Liechtensteinische Landesbank: this is more of a retail bank and if you need a regular bank account chances are you will be able to get one here. They have a full service investment and private bank, essentially, which happens to also work with retail offering accounts for retirees, youths, workers that need a place to deposit their salaries and a full set of credit card offers.
VP Bank: manage your investment from your fingertips with VP Bank which offers an online banking application with your full investment portfolio including current and securities. They are a full service business and private banking firm which include investment advice.
Volksbank: another option if you require a normal bank account, they go beyond private banking and private label funds. Volksbank has savings and current accounts, financing options, insurance and business loans and mortgages too.

This is mostly banking for the wealthy and it makes sense. However if you work or are planning to relocate there, opening a bank account in Liechtenstein without much hassle or expense is important. We recommend you call the bank of your choice or contact them via email to make sure you are aware of the costs of keeping a bank account in Liechtenstein. Fees will vary quite dramatically, so be aware.

The virtual bank account alternative

Transferring money abroad from Liechtenstein is expensive through a bank

Say you need to move 10 thousand euros to India. Did you know that because of currency conversion charges you could get only about 9 thousand euros worth of rupees bank in India yet a bank will say it only cost you 50 euros or so in a SWIFT charge? This is true. Banks need to cover their high operations costs so they charge a lot above the mid market rate.

With B2B Pay, you don't have to. You get 9900 euros worth of rupees, which saves you 900 euros or so and the money gets there faster. We do this because our operational costs are much lower and because we got better deals for our international currency conversion corridors.

You also get a virtual bank account with an European IBAN that you can use to send and receive money within the EU and abroad to 200 or so countries in 30+ currencies.

Page content

1. How to open a bank account in Liechtenstein
2. Documents needed to open a bank account in Liechtenstein
3. Can I open a bank account in Liechtenstein as a non-resident?
4. Best banks in Liechtenstein
5. The virtual bank account alternative
6. Transferring money abroad from Liechtenstein is expensive through a bank

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