Instruction
Swiss banks check the reputation of their potential clients very carefully. Serious requirements are put forward for potential clients - both regarding their personality and the amount of funds that need to be invested. The sources of these funds are also being seriously checked.
The first thing to do in order to open an account in Swiss is to go to the inspectorate at your place of residence and get permission to open an account. This authorization must be mailed to swiss bank. In response, the bank will send a receipt for payment for opening an account and a list of documents that need to be provided. Depending on the bank, the list of documents may vary.
As a rule, you will need to provide the following documents:
1. copies of the passport (all pages, with translation).
2. documents confirming the legitimacy of your (certificate from the place of work, documents confirming the sale of securities, commercial contracts with contractors, etc.). These documents will also need to be translated.
In addition to all this, it is also good to provide feedback about you to your business partner or a friend who already has an account with this bank.
Upon receipt of the documents, the Swiss bank will start the procedure due diligence- so called due diligence documents. An account will be opened only for those who pass it successfully. You can not pass this check for various reasons - it all depends on the bank. For example, Swiss bankers may be alerted not a large number of funds on your account, too many small transactions on the account, etc.
For opening an account in Swiss bank you will have to pay somewhere around 500 euros. The amount of the deposit that the client will have to deposit into the account varies depending on the bank and can be up to half a million euros. However, most banks still put forward more modest requirements. Interest rates on deposits are also different from 3% to 15% per annum.
Related videos
Most people are concerned about money. At the same time, those who have free financial resources are concerned about their safety. Of course, you can keep money at home, but opening an account would be a more effective option. Here, too, there are problems, because. choose reliable bank happens to be difficult. The most reliable is considered to be a Swiss bank.
Instruction
Back in the 1990s, all of Russia learned about the reliability of a Swiss bank. At that time, a rare businessman could have access to this organization. Now the number of Russians who have become clients of the Swiss bank has increased. However, this procedure is still fraught with difficult moments.
If you want to open a bank account, take care of your reputation. The fact is that such organizations are very sensitive to their customers, so they do not allow unscrupulous businessmen to join their ranks. In order not to, Swiss banks verify the identity potential client, Availability material resources and their source.
In order to put in a Swiss bank, go straight to the tax office, which is assigned to your area. Here you should be given permission to open this account. Send the received document to the selected Swiss bank and wait for the receipt for the account opening payment. You will also be sent a list of documents that are required for this operation.
Swiss banks are the benchmark for banks around the world. It is here that the world's largest corporations keep their savings, and the banking system itself is distinguished by the highest level of security. Our company Law&Trust cooperates with more than 20 banks countries, so customers can choose the most profitable terms for myself.
Our specialists know everything about how to open a savings, settlement or any other account in a Swiss bank, the service includes the collection of a full package of documents, negotiations with representatives of a foreign financial institution, legal support for the client, translation of documents and forms into a language understandable to the customer of the account.
Requirements for opening a Swiss bank account
Each bank submits own requirements to investors, in view of which to list a specific and full list services is not possible. You will find out the cost of opening an account and the list of powers of our lawyers after you decide on the bank.
Banks in Switzerland: choosing a bank when opening an account
We have a lot of partner banks and detailed information about each can be clarified with specialists by phone, below we give several banks with their features and conditions for general familiarization with financial system Switzerland.
BCGE (Banque Cantonale de Geneve)
A bank with a high level of data secrecy. The staff speaks many European languages. It takes to open an account up to 10 days and a detailed description of the activity is required. To open an account, you will need a standard package of documents.
CBH Compagnie Bancaire Helvetique S.A.
The main advantages: there is a Russian-speaking staff and no personal visit is required. You can send all documents through a trusted lawyer from our company. Packet review takes 2 weeks, a description of the activity is required, but recommendations are not needed.
Swiss account: documents
What documents are needed to open an account in Switzerland also depends on the chosen financial institution. Most often the list is standard:
- passports (domestic and international) and proof of address of residence;
- confirmation of well-being;
- a full package of documents for the company (charter, sample signatures of directors).
After providing the list of documents, our lawyers will issue banking documents, bring all forms into proper form (translate them and notarize them) and send them to the bank. If you need your presence, it is possible to be accompanied by an interpreter or a legal specialist.
WHY SERVICES FROM LAW AND TRUST INTERNATIONAL?
- Full range of related services: Providing a full range of legal, corporate, official and business analysis services.
- Legal specialists: registration and legal support of companies around the world, accounting services and audit, tax planning and optimization, registration of trademarks and patents and much more. Our best professionals are always ready to help your business.
- First free consultation: Law and Trust lawyers provide a free initial consultation, as well as analysis and strategizing services to achieve a positive result.
- Fast and safe: Law & Trust International provides high level the security of each client's data.
- Efficiency and performance: strategic delivery of modern services for each client to help your business become profitable and successful.
It is worth opening an account with a Swiss bank not only because of the high level of confidentiality or guaranteed reliability, but also because of the reference banking service. An account in Switzerland for a foreign company is an access to one of the most developed banking sectors in the world. Individuals, including foreigners - citizens and residents of other countries, will also find the benefits of jurisdiction. You will not be left alone with the question of how to open a bank account in Switzerland if you contact our company. On this moment we offer the following:
- Opening an account with CIM Banque – cost from 600€;
- Other banks - individually.
7 benefits of opening an account in Switzerland
The word "Switzerland" for many people is almost synonymous with the word "Reliability". As a rule, the task is to open an account in Switzerland, either independently or with professional help, appears simultaneously with understanding why it is necessary. If the latter is not yet available, then our article will help you. Key facts about jurisdiction are summarized in the video:The amazing fact is that being between large and powerful states, and practically not having their own natural resources, the country could become one of the most prosperous in the world. This was made possible thanks to the competent public administration and investments in the following sectors of the economy:
- mechanical engineering;
- watch industry;
- Agriculture;
- Energy;
- Education and labor market;
The banking sector is also the hallmark of the jurisdiction. Deciding to open a deposit, get bank card or open another product, you can count on the following 7 benefits:
- Stability banking system;
- High level of service;
- Very strict observance of banking secrecy;
- Minimum financial risks;
- Ability to open multi-currency accounts, including in rubles;
- Individual approach to each client of the bank;
- A wide range of banking institutions with a long history and a high status in the international arena.
In which Swiss bank to open an account for a foreigner or a company
When opening, you may encounter various problems:- The Bank does not cooperate with foreigners or non-residents;
- Too high minimum deposit requirements;
- Long opening procedure associated with the global verification of the client;
- Lack of support in Russian.
CIM combines high customer requirements with maximum flexibility at the same time. This allows:
- Collaborate with foreigners, including citizens of Russia, Ukraine, Kazakhstan and other countries;
- Offer a wide range of services to individuals and legal entities;
- Have low deposit requirements and affordable prices for services.
Criteria for choosing a Swiss bank
There are 261 banks operating in the jurisdiction. TOP-5 largest assets in terms of assets:- Credit Suisse AG;
- UBS AG;
- UBS Switzerland AG;
- Raiffeisen-Gruppe excl. Notenstein Privatbank AG;
- Credit Suisse (Schweiz).
- Works with foreigners;
- Support in English or other foreign language;
- Serves onshore and offshore companies;
- Does not impose or has low requirements for a minimum deposit;
- Possible remote or urgent opening;
- Works with various currencies, including rubles;
- Provides remote access;
- controlled government bodies and is included in the main associations.
Participation in associations is one of the indicators of the development of the organization. Successful companies are controlled by the state FINMA and are included in:
- Swiss Bankers Association (SBA);
- Swiss Exchange;
4 languages are officially used in the country, but many foreign-oriented banks have employees who speak various foreign languages. Sometimes even Russian speakers. Their task is to make banking services and products as convenient and accessible as possible for any client, including a foreigner.
Absolutely universal proposals do not exist, but it is ideal if banking organization offers services in the following areas:
- Accounts for individuals and legal entities;
- Debit and credit cards;
- Investment products;
- Professional advice;
- Lending.
Can I open an account remotely or online?
Only a few have this opportunity. major players in the banking sector. If we are talking about CIM, then yes, such a possibility exists.
With all the apparent simplicity of filling out the application form for opening an account, in fact, the process without qualified assistance threatens to turn into a complicated one. Firstly, the bank may have transparent service conditions (download the current ones for February 2019 from this link), but even before submitting an application, you need to thoroughly understand them. Secondly, remote opening is not available to everyone and not always. Thirdly, the correct filling out of the application affects not only the positive / negative decision on the part of the bank, but also the future fate of your funds.
Remote opening requires Internet access and a webcam. bank manager in without fail contact you to complete the registration process. This will allow you to access banking services without leaving the motherland.
In addition to remote opening, a personal visit is also available. Ideally, before the visit, you make an appointment at one of the offices, which are located in three cities: Geneva, Wollerau and Lugano.
How to open a bank account in Switzerland
As a rule, banks request the following package of documents from the client:- A copy of an identity document;
- A document confirming the official address of residence;
- Documents for the company (if a corporate account is opened);
- Confirmation of the origin of funds;
Opening dates
Without professional help, the terms are not only stretched, but there is not even any guarantee that the account will eventually be opened. With professional help, all procedures usually take about 2 weeks. Of which 4-5 days are required for consideration of the application, and 2-3 days for express delivery of documents to the address of the bank. Of course, if the package of documents is not collected, then the required time for preparation must be added to the estimated time.What is an activation payment
This occurs only in jurisdictions with increased interest from clients and strict control. In this case, this means that in order to open, you will be required to deposit a certain amount into the account. For example 5,000 (private account) or 10,000 (company account) Swiss francs. After opening an account, the deposit is only 1000 francs, you can use the rest of the amount at your discretion.In practice, it looks like this:
- The bank approves the client;
- Issues a temporary or permanent IBAN;
- The client transfers the initial (activation) payment;
- The customer gets access to all products and services.
Opening an account in Switzerland is not as difficult as it might seem. Justification of the opening goals, initial payments and other features - all this is inextricably linked with the reliability of the system, as it ensures its stability. Ultimately, this is good for you.
Our company will help you become the owner of a Swiss account. Contact us for an initial consultation, and together we will select The best decision personally for you. Use any contact to get in touch. convenient way from the Contacts page or the form below.
Swiss accounts are recognized as one of the most reliable and respected in the world. The richest and most wealthy keep their money in Switzerland. famous people planets. However, you can also open a Swiss bank account ordinary entrepreneurs, capital holders who need reliability and a high degree of confidentiality.
Swiss accounts and Swiss banks offer a high level of service, security and comfort for the client. And at the same time provide wide functionality for those who are looking for various ways to invest, save and increase their own capital.
In this article we will talk about all the nuances associated with Swiss accounts. After reading this material, you will be able not only to understand whether you need an account in Switzerland, but also to open an account in a Swiss bank.
Why open a Swiss bank account?
First of all, let's figure out why, in general, investors from all over the world tend to get to Switzerland and open their own bank account here. There are at least 4 reasons for this that were relevant earlier and continue to be so to this day.
Of course, there are some changes, there are new international requirements, and even Switzerland has to adjust. But in general, experts identify 4 reasons why it is worth opening a Swiss bank account: reputation, service, range of services and confidentiality.
Let's go in order.
Swiss accounts: reputation
The first reason why the richest choose Switzerland is the reputation of the jurisdiction and its banking sector. For centuries, Switzerland has not been involved in wars (more than 500 years), takes a neutral position, serves the financial interests of clients around the world.
The Swiss franc remains one of the most stable currencies of the world and instead of the usual depreciation, on the contrary, it only becomes more expensive. This attracts investors, although it entails some negative points.
The banking system as a whole has also earned a reputation as a reliable partner: security, confidentiality, speed are the hallmarks of Swiss banks.
Plus the opportunity to get an individual approach to service and work directly with your assets. Read more in the section on Switzerland.
Swiss accounts: maintenance
Another feature of Switzerland is the level of service. Especially if you decide to use the services of a historic bank or a boutique bank. Bankers are ready to work with you individually, provided that you invest on a deposit or current account from 500,000 dollars.
For those who are ready to invest smaller amounts, banks of a wide profile are suitable. But the quality of service will not suffer: a respectful attitude towards the client and concern for his interests are hallmark Swiss bankers and banks.
Swiss accounts: range of services
Swiss accounts are the center financial life for several centuries, without exaggeration. During this time, not only a clear privacy policy, a service system, but also a wide range of services have been developed.
Here you are free to choose the scheme of work, whether it is a regular current account for daily needs or a deposit account for savings, or an investment account for playing on the stock exchange and looking for new opportunities to earn money.
Not to mention the various financial instruments in which you are free to invest your money. You can start with the usual currencies, whether it be dollars or francs, and finish securities English companies that are owned by Australian holdings.
Depending on the type of assets, you, as a non-resident of Switzerland, will be able to remove excess taxes. For example, according to the law, interest earned on deposits in francs must be taxed at 35%. Even though franc rates are now negative, there are potential taxes. However, if you have a deposit in other currencies, there is no mandatory requirement to pay taxes in Switzerland - only where you are a tax resident.
Swiss accounts: privacy
Separately, those who are going to open an account in a Swiss bank are interested in privacy in Switzerland. A few clarifications need to be made here:
- Banking secrecy still exists in Switzerland;
- The confidentiality of data of depositors, including non-residents, is protected by law;
- For the disclosure of data, punishment is threatened, up to imprisonment;
- However, due to modern requirements for the exchange of information and interaction in the framework of administrative and criminal cases, Switzerland is forced to share information.
In other words, there is no complete anonymity or complete confidentiality. It was destroyed first by the United States, which imposed huge fines on Swiss banks, which led to the closure of several establishments. Then the neighbors on the continent - France and Germany, who demanded information about their citizens who invested money in Switzerland, helped.
Switzerland still protects information from prying eyes, primarily from paparazzi, envious people, and relatives. But it can no longer protect it from law enforcement agencies, which have the right to request.
Therefore, it is here that it is worth making a reservation right away: in order to get a Swiss account, you must not just have money on hand. It is necessary that this money be legal, and you should not have problems with the law. Only in this case, you can count not only on confidentiality, but also on the very possibility of opening an account.
Swiss banks are just as paranoid as banks in other countries when it comes to depositors from Russia and the CIS. Even despite the long history of cooperation with residents from the former USSR.
Therefore, the item "confidentiality" has a place to be, but not in the sense in which we are accustomed to consider and see in the movies. There is no more total protection. Transparency for the tax authorities has also come to Switzerland. The authorities of the Alpine Republic are even negotiating with Russia on the automatic exchange of tax information.
Consider this.
But, as you noticed, the list does not include the item “huge profits”. The reason is simple: Switzerland offers the safety of money, not multiplication, as on the stock exchange. In addition, due to the rising franc, the country's authorities were forced to introduce negative rates on deposits in francs.
Despite the fact that deposits do not bring tangible profits, investors still choose Switzerland for reliability, reputation, a wide range of financial instruments. And the latter allows you to level the losses.
Who should open a Swiss bank account?
There is a myth that only millionaires and billionaires can open an account in Switzerland. This is not entirely true: investors with different incomes can open an account. But the price will be higher than in a regular bank that stands in front of your house.
Depending on the particular bank, the investor will need to deposit from several thousand to several million euros, dollars or francs. Often you will have to not only open a deposit or current account, but also maintain a minimum amount.
Who should not open a Swiss bank account?
On the other hand, it is contraindicated to use Swiss accounts for the following persons:
- Which launder criminal proceeds;
- Who cannot prove the legality of the origin of funds;
- Which cannot maintain the specified minimum on the account.
Despite strict confidentiality and historical heritage, Switzerland no longer looks only at money. The jurisdiction's reputation has come under serious attack for last years, especially from the US and European neighbors.
Today, Swiss accounts are reliability, respect, management, but not secrecy for criminals, violations, laundering. Among the requested documents there is even proof of payment of taxes and participation in the CFC program - so do not count on an easy walk to the bank.
Despite the ability to work with big money, local banks and bankers are not ready to sacrifice their reputation and, frankly, their own future, for the sake of suspicious money.
What documents are required to open a Swiss bank account?
Properly executed and submitted documents are a decisive step on the way to Swiss accounts. Mistakes, carelessness, inaccuracies can lead to rejection faster than bad breath on a first date.
There are documents that require everything and be sure, but there are those that are requested on an individual basis.
The general documents for opening a Swiss bank account are:
- For account beneficiaries, signatories and other trustees:
- Copy of passport and ID;
- Original documents that confirm the residence and address of residence (most often these are paid utility bills - electricity, gas, water);
- If we are talking about a corporate account (this is possible on a par with personal accounts), then the following are added:
- Copy of the passport of the directors of the company;
- A copy of the certificate of incorporation;
- If companies more than a year, then Good Standing certificate;
- A copy of the certificate of the memorandum of association, articles of association, etc.;
- Register of directors and shareholders.
All documents must be translated into English and notarized. In this case, the bank reserves the right to demand additional documents and it is in your interests to fulfill the requirements as quickly and efficiently as possible.
Collection and preparation of documents is the most important stage. To minimize the risks of refusal, we suggest which documents are needed, plus we check them before sending them to the bank. To sign up for a free consultation on opening an account in Switzerland, write to e-mail [email protected].
Reliability of deposits in Swiss accounts?
But before preparing documents for opening an account in Switzerland, you will probably be interested in the answer to the question: are Swiss accounts reliable at all?
In short: yes, reliable. Especially if you avoid giants and choose medium-sized pots that work for results. You will learn how to choose such a bank at a free consultation.
In general, the following facts speak for the reliability of banks and the banking sector:
- The banking sector has been actively used for at least 5 hundred years;
- Over the years has accumulated vast experience in asset management;
- IN different time 20-40% of Swiss francs are backed by gold;
- Deposits are guaranteed security;
- The law protects depositors;
- The only way to quickly bankrupt a Swiss bank is to impose a couple of billion dollars in fines on it (which was the practice of the US and why banks are now keeping a close eye on new clients).
Of particular interest are the cells in the bank. As you know, in some banks, in the event of a crisis, the contents of the cells are frozen along with the accounts and are used to cover debts. In Switzerland, the cells remain free and the owners can withdraw their property from them at any time. Not to mention that you can store anything in the cells, including cash, unlike JPMorgan.
If Swiss accounts were not reliable, then wealthy people from all over the world would not seek to open them. You can stand in line with the richest people and open a bank account in Switzerland.
Is there a minimum deposit and minimum balance required for Swiss accounts?
Yes I need it. It can be minimal, but most banks require non-resident depositors to deposit first a certain amount, and then maintain a balance not lower than a given level.
As mentioned above, there are banks that require an investment of 500,000 dollars and with a minimum balance of 250,000. But there are banks that ask for an investment of only 5,000 euros and not lower the account balance below the equivalent of 1,000 francs.
By the way, last bank not only offers a minimum entry threshold, but is also the only bank that allows you to open an account remotely!
Can I open a Swiss bank account remotely?
In general, remote account opening is not welcome in Switzerland. One way or another, you will have to interact with bank employees. The only difference is that sometimes you have to go to Switzerland itself to confirm your identity, or contact the foreign branches of a Swiss bank.
It is important to note here: open an account with a Swiss bank in Switzerland. The fact is that branches are subject to the requirements of local legislation. Therefore, if you open an account with a Russian or German branch of a Swiss bank, you will be subject to Russian or German regulations. Together with full transparency and accountability.
However, there is one bank that cooperates with our portal and which will allow immigrants from the CIS to open an account in Switzerland remotely. This does not mean that it becomes easier to open. In this case, you save time and resources on the trip. And preparation, sending and verification of documents are still necessary.
Banking secrecy in Switzerland: does it exist?
Another important point One thing to pay close attention to is bank secrecy in Switzerland. For what? Then, that the prevailing opinion and historical memory make it difficult to recognize the real situation in this area.
Switzerland has always offered reliable data protection. Bank secrecy rules are spelled out in the law, and disclosure of information about depositors is punishable.
But due to new rules and new times, modern banking secrecy is not the same as 10-20-100 years ago.
It is widely believed that Bank Secrecy protects information from any external request. And so it was: even Swiss law enforcement agencies, not to mention foreign ones, could not immediately obtain data from banks. Privacy protection was higher.
However, in connection with the scandals in the field of money laundering, after a hard fight with the United States and Germany with France, Switzerland had to make concessions. Bank secrecy rules have changed.
From whom does banking secrecy now protect? From curious journalists, from envious people, from relatives who were not informed, from all people who were not involved without special powers.
From whom does she not protect? from the tax authorities. Plus from other law enforcement agencies if it was shown that a person committed a serious offense.
In addition, Switzerland has joined the automatic exchange of information and has been ready to share data with its neighbors in Europe since this year. In addition, it is preparing for an exchange with other countries, including Russia, if the Russian Federation fulfills its obligations.
Banks transmit information about American depositors automatically because of the fear of incurring fines that have ruined or damaged other banks. So far, the OECD Single Standard is not as scary as the American FATCA, but data will be exchanged, so it is impossible to talk about banking secrecy in the old sense.
Banking secrecy in Switzerland ensures that no one will just talk about your accounts, money and you. And the more serious the bank, the larger the deposits, the more interested in silence, both you and the bankers.
After all, this is an element of reliability in the operation of the bank.
How to open a Swiss bank account: step by step instructions
When you decide it's time to open a Swiss bank account, follow these instructions:
- Write a letter with a request to the postal address [email protected]– you sign up for a personal consultation and get answers to those questions that remain unresolved;
- The specialist will help you choose a specific bank and issue an invoice for the services of opening an account with a Swiss bank. It is possible to pay for the service via PayPal, Webmoney, Western Union, using a card or bank transfer;
- You prepare documents for submission to the bank - a complete list, which depends on the bank and your goals (corporate or personal account), will be provided by a consultant;
- When you collect a complete package of documents, we will send it to the bank. Application processing takes approximately 10 business days. In some cases, the bank has the right to request additional documents;
- If you want to increase your chance of opening a Swiss bank account, then apply to several banks at once using a special pre-approval service;
- The need for a personal meeting with a banker, a deposit and a minimum balance is agreed in advance.
Many are sure that a Swiss bank may be of interest only to millionaires, officials or criminals who need to hide their illegally obtained wealth. Or famous and public figures who do not want to advertise their income for one reason or another. But in fact, every adult can open an account in one of the banks in Switzerland.
What do you need to open a Swiss bank account?
More recently, Russian citizens could make a deposit in a Swiss bank only after receiving special permission Central Bank. The only exceptions were those citizens who temporarily resided abroad. But since 2003, Russians have been able to open an account in Swiss banks, regardless of where they live. Since this year, the instruction of the Central Bank No. 100-I “On accounts individuals-residents in banks outside the Russian Federation. According to it, they have the right to open accounts in banks of foreign states or branches located on the territory of states included in the Organization. economic cooperation and development.
Entered into force in June 2004 new law O currency regulation, thanks to which Russian citizens got the opportunity to use banks of other states. It is worth noting that you can open an account in a Swiss bank and keep money on it only after obtaining permission from tax office at the place of residence.
What can I use a Swiss bank account for?
According to Instruction No. 100-I, a bank account in foreign countries can be opened to save money. For purposes related to the implementation entrepreneurial activity and for servicing business, you can only use the services of banks in the Russian Federation.
How to open a bank account in Switzerland
This can be done by any individual or entity. Your account will be serviced in almost any currency in the world, although many prefer the euro, US dollar, Swiss franc or British pound. In some banking institutions, an account can be opened by mail. The bank will send you all required receipts and conditions. Essentially, the processes for opening an account in person or by mail are almost identical. The only difference is that when registering an account by mail, you need to first certify the copies of documents provided to the bank by a notary.
An approximate list of data that you need to provide to open an account in Switzerland
The Swiss bank requires the following information from its potential depositors:
- Client's personal data, namely last name, first name, fatherland, residential address, place and date of birth, nationality.
- Activity data.
- Copies of the first four pages of the passport.
- Copies of recent payment receipts utilities with your name on it. Receipts must also be notarized.
- Documents confirming the source of funds in the account.
Where can I open an account in Switzerland
The Swiss bank offers customers big choice services, while fully guaranteeing confidentiality. Each banking institution, however, has its own characteristics of opening an account. First of all, you need to decide for what purpose you open it. Choosing which bank to give preference to, in any case, you will have to balance between the possibility trust management account and privacy.
Banks in this country are guided by fairly strict rules regarding the procedure for opening accounts. If the Swiss bank you have chosen has a branch or subsidiary in Russia, then you are better off contacting these institutions. If there is no representative office of this bank in Russia, then you need to contact the Swiss bank directly, which will guide the further direction of your actions.
How much does it cost to open a bank account in Switzerland
To keep money in a Swiss bank, 350-550 dollars plus the amount of the initial deposit is enough. Commissions of banks in this country are quite acceptable, and the interest in Swiss banks is usually higher than in other countries. Accounts opened under the trust management system annually bring to their owner from 8 to 15% of profit. For the convenience of control, many banks use technological innovations, in particular, investment strategies and Internet banking.
Quite often, when opening an account, a minimum deposit threshold of one hundred or two hundred thousand dollars is set. But there are also banks that are ready to open active accounts with much smaller amounts. This also applies to bank charges and payments. How more contribution, the more flexible the bank offers regarding requirements and minimum restrictions. It is worth noting that any financial institution located in Switzerland that pays dividends and interest according to the law is required to withhold income tax at a rate of 35%.
The tax is paid at the place of receipt of funds. Citizens of foreign countries have the right to claim compensation for the tax they have paid if the country in which they are located has concluded an agreement with Switzerland to avoid
What are the reasons you may be denied an account opening?
In most cases, a Swiss bank in Moscow accepts applications for opening an account, but there are separate category customers who are still denied. For example, banking institution may not allow the opening of an account by persons who, as customers, may adversely affect the reputation of the bank. Also, opening an account may be refused in case of doubts about the veracity of information about the origin of the potential client's funds. The legislation of this country prohibits banks from accepting funds if they know or even only assume that the money was obtained illegally or criminally. In many private banks, a recommendation or a special invitation from a current client is required to open a depositary account.
Private Banking
The service "Private banking" (Private Banking) is available to persons who keep exceptionally large assets in a bank in Switzerland. This service is called private because customers receive a personalized, higher level of service than that provided in a mass retail establishment. As a rule, Private Banking is available to people who plan to make a deposit of one million dollars, but there are also such private financial institutions, which provide this service to customers who invest more modest amounts - 50-100 thousand dollars. Private Banking services include advisory information on the specifics of asset management, including investments and their planning, and all kinds of tax measures. Many private financial institutions refuse to work with people without a special invitation from a person who is already their client. It is worth noting that Swiss retail banks also offer investment services, but they are often quite far from the level noted in the service of private financial institutions.
