Offshore Banking Switzerland

Traditionally, Switzerland is considered a secure haven with years of stable offshore banking history. The strong secrecy law remains in place and it is considered a relatively neutral territory.

Offshore banking in Switzerland is strictly governed by the federal banking commission and the Swiss banking Law of 1934. Offshore banks adhere to the requirements set in the Money Laundering Law of 1998 in order to maintain their integrity and avoid penalties,

Anyone holding an offshore bank account in Switzerland must be aware that Switzerland has accepted and signed the EU Savings Tax Directive of 2005, with the option to withhold taxes rather than disclose account information, while maintaining their secrecy policies.

The banking services in Switzerland have some of the most Multilanguage speaking institutions, and the banks in Switzerland offer the full range of offshore banking services and accounts. One setback to banking in Switzerland is that in most cases, the required initial deposits for personal accounts in Swiss offshore banks or offshore private banks can be nominally high, starting at US200, 000 or higher in most cases. Fees and services tend to cost more than most of the offshore banks in other jurisdictions, but at the end of the day, anyone considering offshore bank account in Switzerland has the peace of mind that their assets and wealth is as safe as it could ever be.

A Swiss offshore bank account is for anyone who can meet the application requirements Applications can be made for individuals or for companies, registered anywhere in the world. It is recommended that anyone wishing to open a Swiss bank account, seek the professional services of intermediaries who have experience in opening offshore bank accounts in Switzerland.

The amount of time it takes to open a Swiss offshore bank account is varied often affected by the results of the KYC policy and the due diligence conducted on each applicant. Bear in mind, some banks will not open accounts for non-residents, so by using an agent with offshore banking experience may save much delays and headaches.

In order to open a Swiss offshore bank account the following is required:

• proof of identity of the owner of the assets.
• company documentation (if the account is opened in a company name) the identity of beneficial holders must be revealed
• proof of source of funds.
• evidence of your profession and your typical financial transactions.
• A minimum deposit of from $500,000 US to $2.5 million US. Some banks will open the account for $100,000 US or less.

Swiss offshore banks provide customized and premium services to their clients. A wide suite of private banking services is offered by offshore banks in Switzerland. A personal manager, investment advisors, and 24 hour access to a bank officials are just some of the high end specialized offshore banking services offered. Uniquely, the Swiss offshore banks prefer a face-to-face meeting with their clients and this is unlike most other offshore jurisdictions where an offshore bank account may be opened remotely.

If you satisfy the qualifying criteria as a potential bank customer (normally of high net worth) the bank will arrange to have a bank representative meet the client at the convenience of the client. The main objective of this face to face meeting is to meet regulation requirements wherein the bank must confirm the identity of their clients.

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