Kathrein & Co. Private Bank
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Vienna, Austria
National rank 3, World rank 171
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Credit Rating: |
AA+ |
History: |
Founded in 1923 as a small commercial bank. After 1945 Raiffeisen Zentralbank Austria took a minority stake in Kathrein & Co. In 1996 Kathrein & Co. became a 100% daughter bank of Raiffeisen Zentralbank Austria and from then on was a private bank for High Net Worth Individuals without corporate and investment banking. |
Shareholders: |
Raiffeisen Zentralbank Austria AG – 100%. We are a merely Austrian bank without foreign shareholders. |
Type of Accounts: |
Private accounts, codeword accounts, offshore company accounts |
Opening Balance: |
USD 500.000 or EUR 500.000 with the potential to reach 1 million within one year. |
Minimum Deposit: |
USD 1 million or EUR 1 million |
Service Fees: |
EUR 65 per year |
Execution of payments: |
Two days for USD transactions and one day for EURO transactions |
Account management: |
Every customer has his personal manager with knowledge of Russian language, meetings are possible in Vienna, in Moscow (presence of the manager there minimum once a month), or in any other place upon agreement |
Timing of opening a bank account: |
Opening of accounts within one week after signature of documents |
Personnel: |
The bank has a total staff number of about 60, from whom 5 are Russian speaking |
Credit Cards: |
VISA, Mastercard/Eurocard, American Express; the insurance deposit is double monthly card limit; Visa na Mastercard charge 105 USD per annum and Amex charges 100-1000 USD per annum depending on the card class |
Bank Secrecy:
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Austrian Bank Secrecy is, together with Bank Secrecy in Switzerland, the strongest and highest developed in the world |
Depositor Protection: |
Dddddfffkkjkffgfgfgffgfgfgfg Risks are low, as the Bank does not issue loans or finances commercial projects |
Taxation: |
Zero tax on interest and dividends and increase of value for residents of Russia. |
Other Banking Products: |
A great variety of investment funds managed by Kathrein, from conservative to progressive, special funds with capital guarantee, insurance products etc. |
Profitability/reliability of investment products: |
Can be compared with that of first class banks |
Visit to the Bank: |
Bank officer visits Moscow once a month |
Required Documents: |
International passport, documents giving an overview about the professional activities of the individual, copies of contracts a.s.o. to prove the source of the funds (every client has to undergo the usual “know your customer” procedure by the bank). |
Nature of Accounts: |
Saving, corporate |
