Swiss Bank Accounts

Swiss Bank Accounts Might Not Be Your Best Choice

Swiss bank accounts: Benefits & disadvantages for corporate entities looking for a better way to avoid paying higher taxes

Please invest 2 minutes of your time to watch the Swiss bank accounts video below. It spells out how you can benefit. Or if you prefer to read, then feel free to skip the video and go straight to the text below:

 

 

Swiss bank accounts: Get a free quote now by filling in the box on the right and know why this might not be your best choice

What is the secret of the Swiss banking industry?

Swiss bank accounts carry an air of prestige, exclusivity, and protection. Swiss private banking accounts usually require a minimum of US $1 million to have one opened. Many Americans have opened accounts here for tax savings reasons.

You may find that many customers can open an account in a traditional bank for less than the US $1000. Switzerland has over US $2.5 trillion in assets and is considered to be one of the largest money management markets in the world. Many customers have generally invested their funds in this type of account.

Switzerland’s banking prowess is world renowned because of the excellent financial services they provide. Their neutrality and avoidance of political issues have allowed them to become stable entities in the world financial markets.

Insured banks don’t just disappear into thin air. Swiss bank accounts also offer confidentiality and security that smaller banks cannot. This makes customers feel more confident in doing business with them. A controlled environment such as this lends an air of authority.

Swiss Bank Accounts Might Not Be Your Best Choice

Varal Managing Director

Swiss bank accounts: Get a free quote now by filling in the box on the right and know why this might not be your best choice

Large international corporate bank accounts can entail various transactions in Switzerland

For 70 years there was less motivation for the Swiss government to hand over banking records to any foreign governments because there is no fear of retribution from another country. No one is investigating your accounts because they do not have jurisdiction or legal rights to do so.

With the attack by US authorities and the advent of the Foreign Account Tax Compliance Act (FATCA), the Swiss secrecy doors have opened.

By contrast, international bank accounts entail various funds transactions in Switzerland or in the Swiss offshore banking system. This requires various transactions in the nation that will first be sharing any confidential information. Globally recognized rules are beginning to be applied here.

Swiss bank accounts: Get a free quote now by filling in the box on the right and know why this might not be your best choice

Swiss bank accounts: Examine them closely before sealing the deal

Usually, these practices are applicable to larger international banking account groups such as UBS and Credit Suisse. When various foreign entities will try to gain access to information of a certain Swiss offshore bank account, it usually happens through one of two routes:

1. Flying to Switzerland and conducting a face-to-face meeting with a banker

2. Via a remote process

3. Government to government requests

More often than not, the first 2 cases won’t guarantee the success of disclosing information of a bank account especially an offshore Swiss account. The allure of hiding income and capital makes this hardship worth it for some people.

The likelihood of opening a bank account increases exponentially when an applicant has more capital to deposit. Either option entails large expenses and a lot of personal planning for months at a time on your part.

Swiss Bank Accounts Might Not Be Your Best Choice

Swiss bank accounts: Get a free quote now by filling in the box on the right and know why this might not be your best choice

Swiss bank accounts for financial investors

The Swiss trust company will usually open offshore banking accounts intended for various businessmen or ordinary individuals who simply plan on using their account as an international source of investment either located in Switzerland or another foreign location.

As such, this allows the Swiss trust company to avoid Swiss banking regulations. However, they are held accountable by the law for all currencies that they manage.

Furthermore, sending and receiving funds through the Swiss trust company allow larger wire transfers. Also, the ability to open a brokerage banking account and being able to access certain low tax funds is an advantage.

The only necessary requirements to open a bank account are proof of residency and your passport.

Swiss Bank Accounts Might Not Be Your Best Choice

Swiss bank accounts: Get a free quote now by filling in the box on the right and know why this might not be your best choice

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Swiss Bank Accounts was last modified: June 17th, 2019 by Manu Raj

Manu Raj

Has a positive attitude towards the job, is friendly and a team player.

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