Marc Schippke: So these suspicious activity reports should be avoided?
Enzo Caputo: It’s very important.
Marc Schippke: They are like computers. They behave like computers. They have a checklist.
Enzo Caputo: According to the books.
Marc Schippke: … according to the books. It’s like, “All right.” So they just follow the rules. And these people working with the banks, they don’t own the bank, they don’t manage the bank, they’re working for the bank. So they just have a manual to follow. They just have rules and a checklist to follow.
And we have this material, we know what they want. So together with you, we will help you to do this right, and to avoid any costly mistakes, so that you do it right in the first place.
And I can really not highlight enough, that it is extremely important to have a super experienced partner supporting you. In my past experience, I had three, or four agents and consultants working with me that seemed to be very experienced. They seemed to be very professional, but they were not. And that cost me a lot of money, a lot of headaches, a lot of pain, and wasted time. So here you have the strongest potential partner to do this right.
Enzo Caputo: Thank you very much. That’s true. And what I have to say to you, you will also, if you work with us… If we introduce you to the right bank, to the right asset manager, you will obtain a much better price and first of all much better return. If you go directly, you will have a higher price, for sure. This is guaranteed because the asset manager we work with has many clients with the banks. You will pay less.
Marc Schippke: So without you, it’s higher?
Enzo Caputo: Without me, it’s higher because, with our asset manager, they have a package price because they have many clients. One client has 20 million, the other client has five million, the other client has 30 million, and the other 10 million.
So they have many assets under management and they can negotiate a much better price, a package price with the bank. So, if you come to us, what we do is we will prepare all the documentation to be tax-compliant.
We will go together, with the estimate actually, we will go to the bank and we know exactly the price you will pay. We can negotiate a very good price, much cheaper. For our clients, we always agree to a very transparent all-inclusive pricing..
Marc Schippke: So it’s going to be very effective, not time-consuming for them because you do all the hard work. They just have to get prepared. They have to prepare the documents you need. If they follow your advice, it’s going to be a success, because you know which banks to address for which type of clients.
Some might be older, some might be younger, some might be very wealthy, and some start out. Having the first million that has been made, they want to grow it in the next years and decades. So these are different kinds of clients, and you know which client to send to which bank. And then with your support, it would take how long to get this open?
Enzo Caputo: Normally an account opening procedure, it takes from two weeks to two months, this is the range. Depends on the bank. A Credit Suisse account opening… With Credit Suisse or with UBS, it will take two months. There is no-
Marc Schippke: Because they got a lot of fines in the past.
Enzo Caputo: That is also the reason we don’t advise you to open an account at Pegasus or UBS because these are very big banks and over-regulated banks. And the procedure and decision-making process is very long and sophisticated. So we like to work, not with the smallest banks, but also not with the biggest banks.
Marc Schippke: Like medium, experienced?
Enzo Caputo: Medium-sized bank with experienced people. And what we do is, we check the bank.
What we check, also the people working for the bank. So we want to work with professionals, with people who are not making mistakes, because bad mistakes will cost a lot of money for everybody involved. So we will avoid these mistakes, and we will get them at the prices at the end of the day, and successful asset management for the long-term.
Opening a Swiss bank account, even as an American, it’s a long-term project. It’s a long-term project including the next generation to come. The average duration of a Swiss bank account is 17 years. So it’s longer than a marriage. So a bank account normally takes… The duration is 17 years. So it’s a long-term project.
You have to do it for a long time. It’s an important decision. With which bank do you work with, and which asset manager do you work with. So that’s why we don’t advise you to work directly with the bank, we always advise you to take an external manager because the internal manager of the bank can change the job. He will be with the bank for a half year, a year, then he changed the job-
Marc Schippke: They’re changing banks quite often, right?
Enzo Caputo: They’re changing banks very often. Swiss private banks, because they are under tremendous pressure anymore. And now these times, because the Swiss bank secrecy is not as strong as it was before. So they have to really fight for new money. It doesn’t come automatically as it was before. They have to fight, but there are still successful Swiss banks, and they are increasing.
So there are a record amount of new assets coming into Switzerland. So just to give you a figure, 30% of all bankable assets in the world in offshore banking are managed by Swiss banks. 30% of all offshore money is managed by Swiss banks. So this speaks for itself that Swiss banks are the best in the world. I cannot say different, that’s the truth.
Marc Schippke: Because-
Enzo Caputo: There is no alternative.
Marc Schippke: … it’s also the reason that I moved from Germany to Switzerland because there’s reliability. Forget about the money, forget about the banks, you can just trust the government. The government gives you a rule; it’s transparent, direct, democracy.
So this law has been implemented because the people want it to be implemented. So it’s not something the government puts upon the people, and then there might be some rebels and some uproar against it. And then you have thousands of people demonstrating. You don’t see this really, very rarely in Switzerland, because people are interacting with the government, with the system. That’s one of the main reasons why I have moved to Switzerland.
Enzo Caputo: That is a direct democracy.
Marc Schippke: Direct democracy. They are also directly responsible, the people, for these kinds of regulations things. If they want something to be really regulated, then it happens because the people want it. They don’t just do it against the people. That is very important to me because I’m a liberal philosopher. I really love liberal entrepreneurship.
So I want to have a country that supports this idea of free trade or free banking. But still, on the other side, everything is secure, everything is reliable. You just know that if you follow the rules, everything is going to be fine. You can know the rules. In many other countries, with corruption, with non-transparency, there’s always a big risk involved, because you don’t know what might happen.
Enzo Caputo: Corruption is very… Let me give you an example. Can I give you a real example of corruption? I had a client in Russia, a very successful real estate entrepreneur. And what they did to not spend too much money, instead of taking a Swiss company to hold the supermarket, the Russian supermarket was held by a BVI company.
Marc Schippke: British Virgin Islands?
Enzo Caputo: … British Virgin Island company, and not by a Swiss company, because of cost reasons. Obviously, the BVI company is cheaper than a Swiss company.
But the value of the supermarket was 80 million. So the supermarket had a market value of 80 million. So then what happened? Some fraudsters were corrupted, sent some people to the BVI, changed the people in the company register, and put different directors in these BVI companies.
These directors changed the ownership in Russia, in the land registry. And suddenly the supermarket was stolen and then it was sold to other people. So these clients lost the supermarket.
Marc Schippke: And then-
Enzo Caputo: … lost the supermarket, just because they used a cheap BVI company instead to take a Swiss company to hold the supermarket. They made a big mistake taking a cheap BVI, just for a couple of 1,000 dollars, paying less.
But this is not the right way to do business. So if you hold such valuable assets, you should take a Swiss company located in a stable nation, in a stable country without corruption. You can rely on a proper commercial register. In Switzerland, it will never happen that you can go to the commercial register, and giving money to the guy there… Corruption will not work in Switzerland.
Marc Schippke: It’s impossible.
Enzo Caputo: … to the officer, bribing them, paying money. This will not happen.
Marc Schippke: There are two things. Many times in life, if you choose the cheap solution, it’s going to cost you way more. In many ways of life. And on the other hand, how would you sue anybody on the British Virgin Island? How would you find a lawyer? You can find a UK-based lawyer that helps you there-
Enzo Caputo: They spent a lot of money on lawyers, and in the end they were not successful. They failed. After two years they have not recovered at the supermarket. They lost the supermarket. It was incredible for me, itself, to see, wow, how this is possible. But in Russia, many things are possible.
Marc Schippke: And even if they are frauds… Obviously, frauds are everywhere, private people doing fraud-
Enzo Caputo: Criminals, these are criminals.
Marc Schippke: … Criminals. You also have criminals in Switzerland, obviously. But there is a system against these people. Switzerland doesn’t care where these people are flying to. They get these people, they find these people, for sure, working with Interpol, et cetera. And then they bring them to jail. They bring them to justice.
So even if there are some cases of criminal activities, also from Switzerland, they have a very strong legal system protecting your interests. And this is definitely not going to happen again in this industry if it ever happens in the industry. So that’s why I can really suggest that you just make up your mind if this is interesting to you.
Thank you again for watching the interview with Enzo.
Enzo Caputo: Thank you.
Marc Schippke: And if you’re interested, just fill in the form. Apply for a free consultation. So we just get in touch and we talk about your interest and your plans for future asset protection. So thank you so much for taking the time.
Enzo Caputo: Thank you, it was a great pleasure to inform your audience. Thank you very much
Marc Schippke: And looking forward to working with you guys. Have a wonderful day.
Enzo Caputo: Thank you. Bye-bye.