Swiss Bank Account
Banking in SwitzerlandSwitzerland is the most well-known country when it comes to offshore banking. You do not need to visit to set up – a Swiss bank account can be opened via email. Their bank accounts are kept secret. Particularly, many legal matters like divorce, tax, and bankruptcy are all regarded as very private issues. Their method of operation is similar to that of American banks. However, unlike many other countries, this country does not change their policy under the pressure of the United States.
Contact banks around Switzerland to see how they can accommodate you. The tailored banking services offered here are the most professional available. You can talk to Swiss banks in confidence about what you require. Private banking services are available to more wealthy clientèle. Try to ensure that the bank you choose is not a global bank as this will mean it’s bound by international law.
Check to see whether the bank has services such as: online banking, investments, asset management and personalised banking. Most Swiss banks provide clients with a professional banker who can guide you through the process of opening your bank account. Your personal banker can find out what your savings goals are, what type of investment strategy you are looking for and help you every step of the way.
Investing through a Swiss bank is easy. You can set up an investment fund account in most banks whereby a portion of your funds are automatically invested for you.
Swiss Bank Account Minimum Investment
Each bank has a minimum investment needed in order to open the account. Some accounts will automatically invest a part of your deposit automatically, ensuring your account starts to grow from day one. Certain banks offer a broad diversification of investment funds which you can benefit from, ask to see their track record.
Are you one of those lucky individuals that just happen to have wads of cash hanging around doing nothing? There’s certainly an abundance of spare money around these days and more folks than ever before are finding themselves in a position of wealth they never dreamed possible. They call this ‘New Money’. All the ‘Old Money’ that’s been accumulated, saved, and invested by generations of families, are experts in money management! These guys know all the legal loop holes that enable them to keep a lot of their hard earned income out of the coffers of the federal government. One such method is to open a Swiss bank account.
Who am I?
I’m no multi millionaire you understand, but I’ve done a lot better for myself than I ever thought I would do. Even at the tender age of just 40 years I’ve managed to accumulate a fair amount of personal income, and have been looking into opening an off-shore account of some sorts. During a bit of research, I saw there were some benefits if I were to open a Swiss bank account. Swiss bank accounts are notorious for being safe and secure places to invest money for genuine investors.
Now don’t get me wrong here, I’m not into tax evasion as I think it’s just and proper to contribute taxes to the society in which you live. But by golly, doesn’t the tax man get a bit greedy sometimes! I’m all for paying my fair share, but the government treasury department would have the shirt of your back given half the chance. Now if they managed their money a little better, perhaps we wouldn’t need to pay so much tax in the first place!
Swiss Bank Account for the Rich & Famous
Hmm! I wonder if the likes of Britain’s Richard Branson and America’s Bill Gates have any cash stashed away in a Swiss bank account. Although you don’t need to go to Switzerland in person to open a Swiss Bank account, it is actually the preferred procedure. However, many busy professionals get a trusted agency to open one on their behalf.
Hollywood would have us believe that the only people to open a Swiss Bank account are the super rich, criminals, crooked government officials, or sneaky greedy folks trying to hide their ill gotten gains, but this really is a misconception. In actual fact, the Swiss Banks welcome accounts from the world over, and especially the West. I’ve since discovered that there are hoards of average Americans with accounts all over Switzerland. And despite what the movies would have us believe, the main reason folks open a Swiss bank account is because of the top level of Privacy & Security.
Swiss Bank Account for US Residents
Its getting much harder for US citizens to open Swiss bank accounts, because of US suspicions that their wealthy only use Swiss bank accounts to dodge tax. Of course Swiss bank accounts aren?t just used to hide money. Switzerland has around $2.5 trillion in assets under management and is one of the biggest wealth management markets in the world. The country is so popular with the affluent because it provides excellent financial services, and solid banks that don?t vanish into thin air.
Nevertheless, the days where you could just walk into a Swiss bank with a suitcase full of cash are over. With international rules governing money-laundering and tax evasion getting tighter ? Switzerland can no longer operate quite as secretly as it once did.
Some Swiss banks can offer more confidentiality than others, especially the smaller private banks that limit their operations to Switzerland. These have less motivation to hand over client records because foreign governments cannot blackmail them.
By contrast, large international banks that have operations in Switzerland, or Swiss banks that have operations in your country will be the first to hand over secret information. We have seen this with the huge international banking groups like Credit Suisse and UBS.
When foreigners try to open a Swiss offshore bank account it is usually through one of two routes.
1) Flying to Switzerland, and setting up a meeting with a bank.
2) Arranging for an agent to facilitate the account opening process remotely.
In both of these cases it is not guaranteed that the account will be opened. The likelihood of success increases exponentially when the bank thinks the applicant will deposit a very large amount.
Either option will cost several thousand dollars. Holders of Swiss work permits may not have to worry. Others are introduced by lawyers or friends with Swiss bank accounts. But for the majority who fear wasting thousands of dollars unsuccesfully there are better alternatives.