UBS Bank
Parent bank in Switzerland, wholly owned subsidiary
This is a wholly owned Bahamian subsidiary of one of the largest bank groups of the world. The parent bank is based in Switzerland. The bank provides a wide spectrum of private banking, portfolio management and international corporate & trust services. They offer custodian accounts for holding securities and precious metals, accept deposits in all major convertible currencies. Call accounts or term deposits could be set up as well. Loans are provided against acceptable collateral including securities, precious metals and deposits. Equity, bond, option, precious metal and spot or forward currency trades can be executed for the client in all major markets. Owing to the global presence of the bank group in all major exchanges the equity investments can be provided in different currencies. Portfolio management services are offered for portfolios between US$ 200,000 and US$ 1,000,000 in total assets or equivalent in other currencies. The minimum opening balance: US$500,000 (to be deposited and kept in the account). The maintenance fee is US$250 per quarter.
Due Diligence Requirements
For each account manager an original bank reference, client's resume, description of the business and sources of funds, and notarised copy of the passport will be required.
