(33) Why are Swiss bank accounts illegal?
Swiss bank accounts are not illegal. If the tax reporting obligations in the country of residence are accomplished a Swiss bank account is 100% legal.
(34) Why use Swiss bank accounts?
Global asset protection, multi-currency account, strong Swiss franc, political and economic stability, reliable and fast legal system, global investment diversification skills of Swiss bankers and asset managers. Classic Swiss asset management is globally appreciated due to the constant growth of assets for the long-term.
(35) Why criminals use Swiss bank accounts?
Between 20 and 40 fraudsters from all over the world are sitting always in the luxury hotels in Zurich’s financial centre waiting for the next financial victim. Based on the Swiss criminal legislation fraudulent activities are very difficult to be proven. 5 conditions must be accomplished before fraudulent activities are considered as a criminal offence. In Switzerland, it will be very difficult to bring a fraudster to justice for fraud and white-collar crimes. They take specific advice from a financial lawyer on how to place fraudulent private equity investment products. Give me a call before you invest money with an investment product you do not fully understand. I will check it for you within a few minutes.
(36) Can Swiss bank accounts be traced?
If Swiss bank accounts are maintained within a corporate structure it will be difficult to trace it. Banking secrecy is strong. There are some strategies for tracing accounts. If you have a specific case I will be more than happy to discuss some ideas.
(37) Can Swiss bank accounts be frozen?
Yes, there are many accounts frozen as a consequence of an international request for legal assistance for criminal procedures. If there is a suspicion for money laundering activities Swiss bank accounts can immediately be frozen.
(38) How does Swiss bank account work?
A Swiss bank account is the best asset protection for a global investor. The scope will be a long-term bank account relationship. Investors are looking for a constant growth in value, global investment diversification with strong currencies and as a reserve for rainy days.
(39) What does Swiss bank account?
A Swiss bank account will protect your money. Turbulent years are coming for sure within the near future. Wealthy people desperately need an experienced asset manager with globally diversified investment strategies. Such a global investment know-how is available in Switzerland only.
(40) Opening a Swiss bank account from Canada?
Account opening for residents in Canada can be done with Swiss banks who are licensed by the regulators in Canada. Only several banks having an appropriate license are accepting clients from Canada. If you are a resident in Canada just give me a call. I will introduce you to the best bank serving clients in Canada.
(41) Canadian opening Swiss bank account?
Selected banks only are in a position to serve clients from Canada.
(42) Can American open Swiss bank account?
Swiss banks and asset managers with an SEC licence are authorised accepting American clients. Specific licenses are imperative.
(43) Swiss bank account for non residents?
Swiss banks are very familiar with non-resident investors. Compared to other banks, Swiss banks are very skilled in dealing with non-resident clients. They have desks tailor-made to the needs and expectations of clients with a specific residence. Many Swiss banks have increased the staff to better serve non-resident clients.
(44) Swiss bank account for UK citizens?
No problem. As long the assets are disclosed to Her Majesty’s Revenue & Customs (HMRC) Swiss bank account opening will not be a problem.
(45) Swiss bank account for UK resident?
If the account will be tax-complaint it will be easy to open it.
(46) Swiss bank account for US citizens?
US citizens are tax-liable despite their place of residence. They have to accomplish their FBAR filing obligations. Because of the global tax obligations many US citizens have given back the USA passport to eliminate their tax liabilities.
(47) Swiss bank account for expats?
There are special departments with big Swiss banks dedicated to serving expats.
(48) Swiss bank account for foreigners?
Swiss banks are very familiar with the needs and expectations of non-resident aliens.
(49) Swiss bank account for EU citizens?
Due to the turbulence in some EU countries, example Italy, hundreds of accounts are activated at this very moment. EU citizens are investing with Swiss banks for asset protection, diversification, strong currency etc.
(50) Swiss bank account for cryptocurrency?
There are 2 banks specialized with cryptocurrency: Kaiser & Partner, Bank Frick. You can do asset management with cryptocurrencies in Switzerland starting with a minimum amount of five million.
(51) Swiss bank account for UK company?
If there are no connections to Switzerland it will be difficult to open A Swiss bank account for a UK company. Such a request must be analysed on a case-by-case basis.
(52) Swiss bank account for company?
A Swiss bank account opening for a company will not be an easy task. The company has to show some substance in terms of own offices, staff and operative activities. Accounts for paper-companies are a problem. Very difficult with Swiss banks.
(53) Swiss bank account for BVI company?
Opening a Swiss bank account for a BVI company is possible. The formalities are time-consuming.
(54) Swiss bank account to avoid tax?
Swiss banks are not supporting tax evasion anymore. According to Swiss law, a Swiss bank account with an amount exceeding CHF 300’000 with evaded tax substrate during the relevant tax year will be considered as a serious crime. If a Swiss bank will see tax evasion for an amount exceeding CHF 300’000 the client will be reported to the Money Laundering Reporting Office Switzerland (MROS). Tax evasion with that amount is considered money laundering according to new Swiss law.
(55) Swiss bank account and divorce?
Swiss bank accounts have been used for hiding money from the spouse. If a client has a dispute with his wife who is linked to a divorce he should give me a call. We will discuss the issue on a case by case basis.
(56) Swiss bank account in UK?
Having a Swiss bank account in GBP is a normal situation. Multi-currency accounts are business as usual here in Switzerland.
(57) Swiss bank account in US dollars?
Multi-currency accounts are established in USD and other currencies.
(58) Swiss bank account in Australia?
Swiss bank accounts can be in Aussie Dollars.
(59) Swiss bank account and taxes?
Swiss bank accounts must be tax-compliant. There is no exception. Time has changed. We are living in a transparent world.
(60) Swiss bank account in GBP?
GBP is a very frequent currency for a Swiss bank account. It’s nothing to write home about.
(61) Swiss bank account terms and conditions?
The terms and conditions can be very different from bank to bank. The pricing is not transparent. I can negotiate the pricing for you. Everything is negotiable. If you don’t care about the pricing, the bank will offer the standard pricing. There is a list of the terms and conditions. We know the pricing standards in the Swiss private banking industry very well.
Therefore, for my clients, I always negotiate an All-In Fee, including custodian, banking and asset management fee and I eliminate all pricing structures allowing kick-backs or hidden fees. The All-In fee is much more transparent and subject to the amounts of assets under management. The target should be an All-In Fee ranging between 1% up to 1,5% of the assets under management per year. Investment strategy and amount of assets are influencing the pricing.
(62) Swiss bank account no minimum deposit?
Usually, a Swiss bank account should start with 1 million. Classic Swiss asset management needs a certain amount allowing a global diversification of investments. Smaller amounts can be invested only with expensive investment funds.
(63) Swiss bank account no longer safe?
Swiss bank accounts are safe. More than ever, investors from all over the world are looking for asset protection with Swiss banks.
(64) Swiss bank account to avoid tax?
Tax evasion is not possible anymore with Swiss banks. Legal tax optimization is the solution.
(65) Swiss bank account with debit card?
No problem. Swiss bank accounts are offered in combination with a debit or credit card.
(66) Open Swiss bank account from abroad?
No problem. Swiss banks are used to deal with international clients from abroad.
(67) Open Swiss bank account with no minimum balance?
You can open a Swiss bank account with no money but substantial assets should arrive within the coming months.
(68) Swiss bank account benefits?
The benefits: asset protection, multi-currency accounts, globally diversified investments, stable political and economic environment, strong currency, asset management skills, privacy and secrecy.
(69) Swiss bank account bitcoin?
There are 2 Swiss banks dealing with cryptocurrency.
(70) Swiss bank account minimum balance?
The minimum balance should be 1 million. Less is possible. Globally diversified investments are impossible with small amounts.
(71) Swiss bank account open minimum balance?
It’s possible to open a Swiss bank account with lower amounts but there is no diversification of global investments. Smaller amounts are diversified with investment funds. Investments funds are much more expensive compared to direct investments.