How to open an account with an Austrian bank?

It is profitable to open an account with an Austrian bank - the state has a high standard of living and is respectable. The Austrian banking system is one of the oldest in Europe. At the legislative level, the non-disclosure of banking secrecy is protected. The country provides good conditions for doing business.

Features of opening an account

Opening an account with a bank in Austria is relevant for individuals and companies. The country's banks provide an opportunity to create accounts for institutional investors as well. It is possible to open multicurrency and settlement accounts, as well as investment accounts.

The advantages of creating an account are the following:

• Opportunity to increase the capital;
• Ensuring the safety of funds;
• Registration of debit and credit accounts;
• Respect for bank secrecy.

To open a personal bank account with an Austrian bank, you will need to submit an application form. The form should be filled in according to the requirements of the bank. In addition, you will need to provide a copy of the foreign passport of the account holder and managers. It is necessary to confirm the address of residence.

Business owners will be required to provide a description of activities. It is possible that data on the source of origin of funds and bank recommendations will be asked for as well. Documents are translated into English or German. Passport data must be notarized.

TOP-5 banks for opening an account in Austria

One of the well-known banks where you can open an account is LGT bank. You can open personal and corporate accounts. There is a staff that speaks Russian. You can remotely manage your account using the application. On average, the opening time is 5 days after submission of documents.

It is possible to open an account at Meinl bank. It is possible to open personal, corporate and offshore accounts. There is a staff that speaks Russian, English, and German. You can manage your account remotely using Internet banking. The opening time is 1-2 weeks.

Alternative option - Wiener Privatbank. It is possible to open an account for an individual and a company, an investment account, and a current account. There is a staff that speaks Russian. The time of opening is on average about a month.

You can also create an account in Euram bank. It offers corporate, personal, and numbered accounts. You can manage your account by fax or mobile device.

A popular bank in Austria is Katherein Privatbank. You can open an investment or current account. There is a staff that speaks English, Russian, and German. The period of the opening is on average 10 days from the date of filing of all required documents.