Private Banking Guide

Private banking is not just opening an account. It is usually for higher balances and cleaner wealth profiles.

When it fits

  • High net worth individuals.
  • Investment portfolios.
  • Family wealth planning.
  • International residents needing multi-currency service.

What banks check

  • Source of wealth.
  • Source of funds.
  • Tax residency.
  • Political exposure and sanctions risk.
  • Investment experience and expected activity.

Not good for

  • Small operating companies needing simple payment processing.
  • Unclear income sources.
  • People trying to avoid tax reporting.
  • High-risk business activities without strong documentation.

Alternatives

  • Fintech/EMI account for operating payments.
  • Local business bank account.
  • Corporate bank in the same jurisdiction as the company.
  • Brokerage account for investments where suitable.

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