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Question Liechtenstein private banking

#25
alextma said:
How is it like a bank ? Ie to pay into and out of and. Use its credit card etc? I mean if I don’t want to trade just to use it as a bank
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It works; but frankly, it is not the use case that Swissquote (SQ, commonly) is meant for. SQ is mainly a (reputable) trading platform – and it is mostly used this way.
And especially, if the intention is like descibed below
alextma said:
Israeli passport holder & tax resident is looking to open private bank account in Lichtenstein to transfer his large savings from his EU / Israeli banks and use its facilities such as credit card etc. Also, potentially for his EU/UK businesses. Would you kindly recommend friendly bank that can facilitate this either online or in person. Many thanks, gentlemen !
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such a person will be remarkably more comfortable with any reputable Swiss private bank (and, probably, with a support from some Family Wealth Office). Yes, there is usually ~500k-1m (sometimes more, for example for Rothschild 5m) first deposit requirement but if it concerns large savings, it should not matter... (furthermore, it is usually possible to open a discussion about it).
alextma said:
Any other Swiss banks that offer bank accounts for non-EU residents without €500K deposit requirements? I meant more like real banks or wise.com style banks
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I am afraid, not much. It is possible to open with Dukascopy but it has a sense only for amounts less than 50k, otherwise it is unnecessarily expensive. Especially for business accounts, CIM Banque can be used.
 
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#29
Konstanz said:
Liechtenstein advantage is that they are not a part of "Lugano" convention. So, your money is more protected in Liechtenstein under local law.
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Yes, it is true that Liechtenstein is not a signatory neither of Lugano Convention 1988 nor of Lugano Convention 2007; but I must admit I do not see what advantage it brings... how the money are more protected.
@Konstanz, could I ask you for some clarification?
alextma said:
You mean Lugano jurisdiction enforcements
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I presume, @Konstanz means The Convention on Jurisdiction and The Recognition and Enforcement of Judgments in Civil and Commercial Matters that was concluded in Lugano on 30 October 2007 (and before it on 16 September 1988, commonly called Lugano Convention). This is probably the document that you have in mind.
 
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#30
Forester said:
Yes, it is true that Liechtenstein is not a signatory neither of Lugano Convention 1988 nor of Lugano Convention 2007; but I must admit I do not see what advantage it brings... how the money are more protected.
@Konstanz, could I ask you for some clarification?

I presume, @Konstanz means The Convention on Jurisdiction And The Recognition And Enforcement of Judgments in Civil And Commercial Matters that was concluded in Lugano on 30 October 2007 (and before it on 16 September 1988, commonly called Lugano Convention). This is probably the document that you have in mind.
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If you have dispute some place in EU (for example your EU nationality country).
In EU your funds can be easily frozen for some wife/business partner dispute and the court decision is enforceable in all Lugano Convention countries.
So, let's say if you keep assets in Liechtenstein, they cannot be frozen without going to courts in Liechtenstein. Good luck to person trying coming to Liechtenstein to take someones property.
All Liechtenstein country is based on protecting assets, privacy and etc. In EU countries there are crazy laws and assets can be frozen easily
Also it would be way more expensive for someone to try false court claim in Liechtenstein than local EU country were they can get "state" attorney :)
 
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#31
A bit unrelated, but is Liechtenstein better when it comes to safe deposit boxes? SwissGoldSafe for example offers them in both CH and LI so I'm wondering if there's a difference?
 
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#32
Konstanz said:
If you have dispute some place in EU (for example your EU nationality country).
In EU your funds can be easily frozen for some wife/business partner dispute and the court decision is enforceable in all Lugano Convention countries.
So, let's say if you keep assets in Liechtenstein, they cannot be frozen without going to courts in Liechtenstein. Good luck to person trying coming to Liechtenstein to take someones property.
All Liechtenstein country is based on protecting assets, privacy and etc. In EU countries there are crazy laws and assets can be frozen easily
Also it would be way more expensive for someone to try false court claim in Liechtenstein than local EU country were they can get "state" attorney :)
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i guess you live in the past
 
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#34
In Liechtenstein like anywhere else you are just a Google search away from having your assets frozen. All what it takes, for example, is a false and defamatory article written by your spouse/competitor/stalker.
 
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#35
Liechtenstein belongs to EEA! Switzerland is not, so I find Switzerland better, because completely away from the EU and EEA.
(Monaco, Gibraltar, UK, Andorra, San Marino...the same, no EU, no EEA)
 
#37
nobel said:
Liechtenstein belongs to EEA! Switzerland is not, so I find Switzerland better, because completely away from the EU and EEA.
(Monaco, Gibraltar, UK, Andorra, San Marino...the same, no EU, no EEA)
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They are not "completely away" in any form from eu.

Google the lugano convention which has been brought up before already.
 
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#38
JohnnyDoe said:
In Liechtenstein like anywhere else you are just a Google search away from having your assets frozen. All what it takes, for example, is a false and defamatory article written by your spouse/competitor/stalker.
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What are you suggesting? Should we keep everything in Monero and physical gold?

Not trying to come off as rude, I'm just asking...
 
#39
Jerry1911 said:
What are you suggesting? Should we keep everything in Monero and physical gold?

Not trying to come off as rude, I'm just asking...
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Don’t keep all your eggs in one basket and don’t trust banks.

Since I am still forced to use banks, I split between several jurisdictions and use a few tricks which I can’t disclose publicly or the forum police will slap me. I am conscious that money in the bank is not my money (like crypto without your keys is not your crypto) and can be taken away in many ways, so I govern myself accordingly.

As far as crypto is concerned, I do index investing and by doing so I have made good money on coins that I would never have touched otherwise. Sure enough I also lost money on shitcoins that disappeared, but that’s part of the game.

Physical gold is nice to handle but of little practical use if you really need to do something with it. If things get so ugly that you must think about selling gold to survive, most probably a good rifle and plenty of ammo will be more useful.

Try to invest in startups, where you can understand the books better than listed stocks.

And whenever you see an investment opportunity go for it, as long as you understand what you are investing in.
 
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#40
JohnnyDoe said:
Don’t keep all your eggs in one basket and don’t trust banks.

Since I am still forced to use banks, I split between several jurisdictions and use a few tricks which I can’t disclose publicly or the forum police will slap me.
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Can you share that "trick" in DM ?
Can I DM you?
 
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