Why Switzerland?
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Switzerland enjoys a strong reputation as a financial center. Capital has been flowing into the country for centuries, attracted by its stable political, economic and legal system and a proven record as a safe haven for investments. Switzerland hosts more than CHF6'500bn assets or 25% of the world's total cross border assets.
Supported by a long tradition in private banking dating back to the 16th century and a business friendly environment, Switzerland also offers competent labor and a skilled web of financial, legal and tax experts.
Swiss bank accounts remain protected by Swiss banking secrecy and they guarantee a higher degree of discretion than most of their competitors.
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Who Can Open a Bank Account in Switzerland?
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Anyone can in principle open a Swiss bank account in Swiss francs and/or other currencies. Each bank will have its minimum deposit amount for opening a relationship with non Swiss domiciled clients ranging from CHF50k to CHF250k. Banks will require clients to prove their identity with a passport or an ID card. Banks in Switzerland are not allowed to onboard funds which they know are either suspect or have been obtained through criminal activities. As a result, prior to opening an account, banks will ask for the documents proving the origin of the funds. This could be a bank statement with salary payments or documents establishing the sale of a property, a business, a pension or inheritance capital. Some restrictions may apply on certain nationalities and vary from bank to bank depending on the current political environment.
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Banking secrecy laws remain in place in Switzerland and Switzerland keeps excellent levels of services and a high level of privacy protection for their tax compliant assets.
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