Reason No 3:
Asset protection. The Legal Resource Network reports that 15 million lawsuits are filed in the USA every year. A foreign bank account can help make you a less attractive target for aggressive lawyers. Swiss data protection law and Swiss bank secrecy laws will make the access to your money very difficult if not impossible.
Reason No 4:
Currency Diversification. Having bank accounts with multiple currencies is a great way to diversify your portfolio risk, protect your purchasing power and internationalize your savings. An offshore bank commonly offers an online platform with multiple currencies and international investment opportunities. Let me give you an example for multi-currency diversification. When the EUR has been introduced for 1 EUR you had to pay 1,72 CHF. Today, the same 1 EUR you can buy for 1.14 CHF only. The EUR lost more than 30% of his value against the CHF. We have the same scenario with the USD. The value of the USD came down substantially. A 1 million Dollar question to you: it is a good idea to have a Swiss bank account in CHF?
Reason No 5:
More income for your money. A good Swiss banker offers access to exclusive Club Deals, hedge-funds, private equity, off-market real estate and other investment opportunities. Swiss bankers are very familiar with an international diversification of investments. That’s only one of the reasons why American clients are attracted by Swiss bank accounts again. A very exclusive and one of the best Swiss banks, hired new staff members to satisfy the increasing demand of clients from the USA.
Let me give you an examples. I know an independent asset manager managing the funds of well-known people and celebrities making between 6 and 9% performance since years with 30 Swiss blue chips only. Just to give you an example. Upon request, they are in a position to document every single transaction. The performance is traceable. Upon request, I will give you a premium access to the best family owned hedge funds managed by the best assets managers on this planet.
Reason No 6:
Ensure immediate access to medical care abroad. If you have difficulties to access medical care at home, for example, because of the disastrous effects of Obamacare, you may want access to medical care abroad, for example in Switzerland. In the worst case scenario, this could mean the difference between life and death. Let’s assume you need medical care from a specialist abroad. You would have transfer money outside your country to pay for the treatment. In case your country has imposed capital control measures over-night you are unable to pay for the surgery. If you have an offshore bank account you can always pay your invoices for medical treatment.
I had a client with his daughter having a very rare illness. All his bank accounts have been frozen in his country of residence due to a pending investigation against him. He was unable to pay for the surgeon responsible for the operation. He started negotiations with the prosecutor in charge for the investigation. The prosecutor told him that this is not his problem. Not one cent has been made accessible. Fortunately, he found 2 friends who supported him paying the invoice. Without the generous support of his 2 friends, the daughter would not be alive today and she would not be a happy mother of 2 children today.
Reason No 7:
Having the option to act immediately. When it comes to international confiscation, it is better to be a year early than a minute too late. In the case of new capital control measures or confiscation of savings become applicable overnight, it will be too late. It will be too late to protect your money. It must be arranged before. It is one of the most common and underestimated mistake. Most of the people think that a situation like that will never take place until they will be confronted with the reality. Sometimes, reality can be harder than fiction.
Reason No 8:
Financial kidnapping. In South America, it can be very dangerous to deposit money with a local bank. Local bankers can cooperate with criminal elements and put you and your family in danger. Swiss banks have many clients from South America because they appreciate the strict Swiss privacy and Swiss bank secrecy rules. Due to the Automatic Exchange of Information with the Tax Agencies in South America many South American clients of Swiss banks are scared of financial kidnapping. Some of them already relocated to more secure residential areas to prevent financial kidnapping.
We helped them to solve their issue with financial kidnapping. Other clients transferred their assets to countries not being part of the AEOI like Georgia. There are some excellent banks in Tbilisi, Georgia. The bankers in Georgia are more than happy to accept new clients in Tbilisi. Swiss bankers and asset managers are educating local staff members to increase their private banking skills. Some Swiss asset managers have transferred their business to Tbilisi following the depository banks of their clients.
Reason No 9:
Peace of mind. Having an offshore bank account is like an insurance policy. It gives you peace of mind. You are prepared for unpleasant surprises. An offshore bank account is 100% legal if you accomplish your tax filing obligations. We are experienced with the international tax reporting requirements in many different tax systems in many countries.
Reason No 10:
Maximize your personal freedom and privacy. Having an offshore bank account gives you more options. More options mean more freedom. It will be tough for any government to control your future plans. In case you want to buy a second passport with the Citizenship by Investment program, you can use your new passport and open a new offshore bank account with the new passport. Such passport is known as the banking passport. More countries than ever are offering Golden Visa and Citizenship by Investment Programs.
In certain countries, it’s straightforward to change your name. A new name with a new passport of a new country can be used to open a new offshore bank account based on the different personal information. If you need more confidentiality to protect your assets, we can help you with legal solutions to protect your privacy. Obviously, every single case is different and we are here to consider your specific situation on a case by case basis. We know all countries offering such programs.
An offshore bank account with a second passport legally obtained in combination with a new residence can be the perfect combination to maximize asset protection or to solve a sophisticated tax problem with undeclared assets making them tax-compliant. If you like this information show it to us and give us a like, now. Press the like button now.
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If you have a very confidential question you would like to discuss with me grab your mobile phone now and dial +41 44 212 44 04. It’s never too early to protect and diversify your assets, transferring a big part of your assets to Switzerland. Bring your money out of your country before your country will take your money out of you. Be rich and stay rich. Have a wonderful day.