Swiss Offshore Bank Account
Swiss bank accounts are made legendary by action films, but they also hold around one quarter of the world's offshore wealth. Switzerland is a huge financial centre in its own right, and hosts a thriving wealth management industry. While you can't get a real numbered bank account anymore, for High Net Worth Individuals there are still many reasons to open a swiss offshore bank account..
Swiss bank accounts are perceived as highly secretive. Specialists can create webs of trusts companies and offshore bank accounts to disguise beneficial ownership of an account. Having said that, Switzerland has now agreed to comply with "international standards" for the exchange of information so people looking to overtly evade taxes should look elsewhere.
Switzerland has two very large financial centers in Geneva and Zurich with highly developed financial services. As a developed banking centre in its own right Switzerland is less open to financial pressure from larger countries. It would be very difficult for example for the US to investigate all wires leaving Switzerland, or otherwise blacklist them, since so many large US companies are incorporated or have operations there. The country has reliable communications and is easy to reach with regular flights from anywhere in Europe or the US.
Lastly, but equally important, English is widely spoken in Switzerland, and even banks that do not specifically cater to English-speaking clients are likely to have staff who can attend you.
Types of Swiss Bank Account
Swiss Post Office accounts require low minimum deposits. In almost all cases you will have to visit a post office bank branch to open an account, and provide full identification. May be resistant if you haven't got a good reason to open the account (e.g. Swiss residency).
Cantonal account - Each canton (mini-state) has its own bank. Requirements will be similar to the post office account.
Private Swiss bank account - High deposit requirement (around U$S1M). As standard you will receive access to a very wide range of financial services, and personal attention from a relationship manager who knows you by name.
Swiss Bank Secrecy & Confidentiality
The Swiss are famous for their bank secrecy, and the tradition of financial privacy was legally established by the 1934 Swiss Banking Act. Breaking Swiss bank secrecy carries a jail term but there are exceptions (this list is not exclusice):
EU Savings Tax Initiative
Since 2004 the EU Savings Tax Initiative requires EU residents to pay tax on their savings interest - even in Swiss bank accounts. Swiss banks can pay a "withholding tax" direct to the foreign authority without having to reveal the account owner.
Alternatives to Swiss Offshore Bank Accounts
Ultimately, many find it difficult to wire huge initial deposits to Switzerland or to visit the country in person. Capital Conservator can offer an alternative that is equally or even more confidential. Through our associated financial services companies you can open offshore banking accounts for a fraction of the cost of flying to Switzerland. Sign up now, and you could be in possession of your account today! Click the link to open an offshore bank account.
- CCG DOES NOT PROVIDE TAX ADVICE OF ANY KIND. IT IS THE CUSTOMER'S RESPONSIBILITY TO COMPLY WITH THEIR COUNTRY'S TAX LAWS.
NEITHER CCG NOR ANY CCG SUBSIDIARY IS A REGISTERED BANK. THE CCG ARBITRATION CENTRE IS NASSAU, THE BAHAMAS.
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