A bank account can be opened in one of Liechtenstein banks. This procedure is quite simple and will take about two weeks. To open an account the business owner needs the following documents:
- the passport;
- documents verifying the place of residence;
- registration documents of the company;
- a number of additional documents depending on peculiarities of the registration procedure.
If the company was registered earlier than 180 days before opening the account, the owner of the company must provide documents concerning the present state of the company. If necessary, bank officials can enquire for details of company activity. It is impossible to open an anonymous account in Liechtenstein banks.
Such practice existed until recently, but Liechtenstein banks had to abandon it because of public pressure. Anonymous accounts attracted a lot of dirty money, and Liechtenstein was on the black list of organizations standing up against money laundering. To save the reputation of the country the authorities had to improve banking legislation.