EFG International

Bank Overview

EFG International AG, a Swiss private banking and asset management group headquartered at Bleicherweg 8 in Zurich, traces its roots to 1980 when the Latsis family acquired Banque de Dépôts in Geneva, expanding through Luxembourg (1986), London (1989), Monaco (1990), and establishing in Zurich in 1995; the EFG brand was launched in 1997, and the company went public on the SIX Swiss Exchange in 2005. Founded formally in 1995 by Jean‑Pierre Cuoni, Lawrence D. Howell, Baron Corso von Habsburg, and others, EFG now operates in over 40 locations worldwide—including Zurich, London, Singapore, Hong Kong, Miami, Dubai, and Bahrain—and employs about 3,025 staff as of December 2023. The current Executive Committee is led by Giorgio Pradelli (CEO), with Dimitris Politis (CFO & Deputy CEO), Demis Stucki (COO), Vassiliki Dimitrakopoulou (Global Head of Legal & Compliance), Enrico Piotto (CRO), Andre Portelli (Head of Investment & Client Solutions), and Ioanna Archimandriti (Chief People Officer). General inquiries can be directed to +41 44 226 18 50 (general), +41 44 226 17 17 (Zurich head office), and support services include dedicated lines/emails for Media, Investor Relations, eBanking for private clients and IAMs, and Asset Management. Branch-specific phone numbers and support emails—for example, +44 207 491 9111 for London; +852 2298 3000 and [email protected] for Hong Kong; +65 6595 4888 for Singapore; +1 305 482 8000 for Miami; +971 4 527 6444 for Dubai; and +973 17 155 155 for Manama—are all listed in the bank’s International Directory on its website.

Services Offered

• Private Banking & Wealth Management – Tailored investment strategies for high-net-worth individuals.
• Independent Asset Management – Custody services and investment solutions for external asset managers.
• Investment Advisory & Portfolio Management – Expert guidance on global markets and asset allocation.
• Tax & Estate Planning – Structuring wealth for long-term security and tax efficiency.
• Multi-Currency Accounts & International Transactions – Seamless global banking solutions.
• Lombard Loans & Structured Finance – Flexible financing options for investments and real estate.
• Digital Banking & eBanking Pro – Secure online access to accounts and investment portfolios.

Commission & Fees

EFG International offers flexible pricing models, including:

• All-in Fee Model – Brokerage & administration charges calculated on the average portfolio value.
• Individual Pricing Model – Fees based on specific services and products.
• Discounted Commissions – Special conditions for independent asset managers. Custody Fees – Charges for safekeeping securities and investment portfolios.

Account Opening & Maintenance

• Account opening (standard individual/legal entity)
• Numbered account setup: CHF 4,400
• Ongoing annual fees: CHF 2,400 per year (CHF 600 quarterly)

Custody & Management Fees

• Custody (holding cash/securities):30% per annum on assets held
• Portfolio Management (discretionary): ~1% per annum on invested assets (minimum CHF 1 million)

Transaction & Transfer Fees

Securities Transactions

• Trading commissions:4% on the transaction amount

Bank Transfers

• Outgoing payments (via e-banking):
  • CHF/EUR SEPA: CHF 10
  • USD to Europe: CHF 20
  • Other currencies: CHF 30
• Outgoing payments (non-e-banking):
  • CHF/EUR: CHF 20
  • USD to Europe: CHF 30
  • Other currencies: CHF 40
• Foreign exchange transfers (FX fees):
  • Up to CHF 99,999: 0.80%
  • CHF 100,000–249,999: 0.40%
  • CHF 250,000–499,999: 0.20%
  • CHF 500,000–999,999: 0.10%
  • Over CHF 1 million: 0.05%

Minimum Deposits

Personal (Individual / Joint) Accounts

• No initial deposit required to open a standard personal account
• However, within 12 months of opening, you must accumulate a minimum of USD/EUR/CHF 1 million—this must be held continuously (can be invested) and cannot be withdrawn

Business (Corporate) Accounts

• Similar structure applies: no upfront minimum at opening, but you must build the balance to USD/EUR/CHF 1 million within a year.

Numbered / International Accounts

• Same general requirement: no initial cash required to open a numbered or “international” account, but a CHF 1 million (or equivalent) balance must be reached within 12 months and remain in the account.
• There’s an additional CHF 4,400 setup fee for numbered accounts.

Why Choose EFG International?

Why EFG International is a Safe and Trusted Bank

1. Swiss Regulatory Oversight
   • EFG is headquartered in Zurich and regulated by FINMA (Swiss Financial Market Supervisory Authority)—one of the most rigorous and respected regulators in the world.
   • Swiss banking laws enforce strict capital requirements, anti-money laundering (AML) standards, and client asset protection.

2. Strong Capital Base and Liquidity
   • EFG maintains a Tier 1 capital ratio significantly above international norms—this means it has more than enough reserves to protect client funds in difficult times.
   • With over CHF 160 billion in client assets, EFG is a financially solid institution.

3. Client Asset Segregation
   • Your money and investments are legally separated from the bank’s own assets. This ensures:
     • Your deposits are not used for bank operations or loans.
     • Even if EFG were to face financial distress, your assets remain safe and retrievable.

4. Transparent and Compliant
   • EFG adheres to global standards:
     • OECD Common Reporting Standard (CRS)
     • FATCA ( Foreign Account Tax Compliance Act) (for U.S. persons)
     • MiFID II (EU investor protection)
   • You receive clear documentation on fees, risks, and portfolio performance.

5. Cybersecurity and Digital Protection
   • Advanced multi-layer cybersecurity systems and two-factor authentication for online banking.
   • Continuous monitoring against fraud, phishing, and hacking attempts.

6. Dedicated Relationship Managers You Can Trust
   • EFG builds long-term relationships based on loyalty, transparency, and ethical conduct.
   • Your relationship manager is bound by a fiduciary duty to act in your best interest—not to push products for commission.

7. Independent Advisory and Risk Culture
   • Investment solutions are built around your goals, not bank sales targets.
   • EFG uses robust risk frameworks to safeguard your capital from unnecessary exposure.

Requirements:

PERSONAL ACCOUNT – EFG INTERNATIONAL

For Non-Residents

Minimum Deposit:

• Typically $550,000+, depending on profile and services required.

Required Documents:

1. Valid Passport
    – Must be current and clearly legible.
2. Proof of Address
    – Utility bill or bank statement (dated within 3 months).
3. Proof of Source of Funds / Wealth
    – Income statements, tax returns, company ownership papers, asset sale documents, etc.
4. Tax Identification Number (TIN)
    – From your home country.
5. Bank Reference Letter (optional but encouraged)
    – From your existing bank.
6. KYC (Know Your Customer) Forms
    – Provided by EFG and must be completed in full.
7. Video or In-Person Verification
    – May be required for compliance.

Note: EFG performs enhanced due diligence on non-residents, especially from politically exposed or high-risk countries.

For Swiss Residents

Minimum Deposit:

• More flexible; generally $550,000+ depending on account type.

Required Documents:

1. Swiss Passport or Residence Permit + Foreign Passport
   
2. Proof of Swiss Address
    – Utility bill, lease, or official correspondence.
3. Proof of Income or Net Worth
    – Payslips, employment contract, or wealth documentation.
4. Swiss Tax ID Number
   
5. Completed Application and KYC Forms
   

Benefits for Residents:

• Simpler onboarding
• More personalized financial planning and investment services
• Access to local wealth advisors

BUSINESS ACCOUNT – EFG INTERNATIONAL

For Non-Resident Corporate Clients

Minimum Deposit:

• Usually starts at $1,000,000+, varies by business profile and risk level.

Required Documents:

1. Company Registration Documents
    – Certificate of incorporation, company registry extract, articles of association.
2. Identification of Shareholders and Directors
    – Valid passports or IDs.
3. Ultimate Beneficial Owner (UBO) Declaration
   
4. Business Description and Purpose
    – Nature of the business, target markets, and revenue model.
5. Proof of Source of Funds
    – Company bank statements, client contracts, audited financials.
6. Tax Identification Numbers
   
7. Completed KYC & Compliance Documents
   

Important Note:
EFG is selective with international corporate accounts. Businesses in sensitive or high-risk sectors may be declined.

For Swiss-Registered Businesses

Minimum Deposit:

• Typically $550,000+, flexible for established companies with a solid profile.

Required Documents:

1. Swiss Commercial Register Extract
   
2. Company BylRecent Financial Statements or Projections
   
3. aws or Statutes
   
4. IDs of Directors and UBOs
   
5. Swiss Business Address
   
6. Business Description and Revenue Sources
   
7. Tax ID Numbers
   
8. KYC Compliance Forms