Most banks require evidence of substance: a physical office, local directors, etc.
At the same time, some banks in countries like Switzerland, Liechtenstein, Austria, and Luxembourg are still prepared to serve non-resident companies. These banks fall into two categories:
- banks focused on asset management: such banks expect the client to place assets under management with the bank of at least 500 thousand EUR;
- banks focused on payment services that do not require the assets under management. Since these fewer banks bear higher risks serving non-residents, the cost of their payment services is higher.