OPEN A BANK ACCOUNT
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Switzerland is considered to be one of the world's premiere global banking centers due to its long earned history of political and economic stability. As a safe money haven, Switzerland is now ranked one of the world's largest wealth management center's in the world with 2 trillion USD in assets (year 2014) under management. This country is a magnet for international money as it beholds a long tradition of stability that is reflected in a sound banking system and currency. The Swiss franc is considered one of the world’s most stable sound currencies. With a population of 8.1 million (year 2015) of which 1.65 million are resident foreigners, this very mountainous and scenic nation is home to many of the world’s wealthiest citizens and their bank accounts.
Zurich is the international finance and banking centre of Switzerland as is currently ranked the ninth largest global banking centre in the world.
The city of Zurich is also a major trading centre for gold along with the Zurich Stock Exchange considered to be one of the most important in all of Europe.
The Swiss enjoy a very high standard of living as the economy is well managed. In fact, Switzerland is ranked number one in the world for having the highest average net wealth at approximately $561,000 USD (year 2015) equivalent per adult along with GDP per capita at $84,000 USD (year 2013).
Switzerland has a strong economy diversified into industries such as machinery, chemical products, pharmaceuticals, watches, banking & insurance, defense – military supplier, chocolates, tourism, etc. Well known Swiss corporations include Nestle`, Novartis, Swatch, Lindt, Xstrata, Roche, Glencore and UBS to name just a handful.
Politically, the country is very stable with efficient and responsible government. The country achieved independence in year 1291 with the founding of the Swiss Confederation. Last war Switzerland fought was in the 15th century, a foreign policy and history of neutrality. The country is made up of 26 Cantons each with their own powers for taxation, this decentralized direct democracy has helped keep Switzerland a stable country thus sustaining its multi-cultural and multi-lingual character.
The history of the country is rich and powerful considered to be on the world's wealthiest countries with the highest standard of living. Several Cantons offer extremely low corporate tax rates to encourage company formation. Switzerland is a top jurisdiction for both individuals and companies to consider establishing a banking relationship.
SWISS BANK SECRECY - NO LONGER THE DRIVER OR PURPOSE FOR ESTABLISHING A SWISS BANKING RELATIONSHIP
Swiss bank secrecy is no longer a key factor in whether or not to establish a Swiss banking relationship in our view. Over the last few years, there has been an international crack down in the area of banking secrecy whereby Switzerland has since relaxed its rules after hefty fines were levied against some Swiss banks from United States and European authorities.
Consequently, the Swiss now have some of the toughest money laundering laws and reporting rules within Europe and the world. Further, Switzerland has been forced by external pressure to modernize their banking system to relax Swiss secrecy guidelines
With relaxation in Swiss bank secrecy, why then consider Swiss banking opportunities?
In our view, several reasons which include the historical stability of the Swiss franc currency (CHF), overall Swiss bank safeness, well regulated banking system, political soundness, excellent sophisticated banking & financial products, very competitive corporate tax rates for those companies seeking a new domicile to Switzerland and of course, first class Swiss banking service.
SWISS FRANC (CHF) CURRENCY
HISTORY OF RELATIVE STABILITY
Historically low interest rates in Switzerland are compensated by the relative strength of the Swiss franc when compared to the majority of trading currencies including gold bullion. With that said, the Swiss franc can experience exchange price volatility. BankIntroductions.com can provide historical exchange valuation details and our best guess / estimate on where we think the Swiss franc is headed within our consulting reports and/or our bank introductions private services.
To show the importance of currency price variance, here are some snapshot highlights of the Swiss franc (CHF) currency valuation over the last 25 years when compared to the US-dollar (USD).
Value of one Swiss franc:
September 1992: 78.3 US cents
October 2010: $1.03 USD
August 2011: $1.28 USD
February 2017: par to the USD (1.0)
Even within one of the world's wealthiest banking regions - Switzerland, currency variance and understanding the volatility of currencies is vital to maintaining and growing the value of assets.
A WIDE SELECTION OF SWISS BANK OPPORTUNITES TO MEET ALL INDIVIDUAL AND CORPORATE NEEDS
SWISS COMMERCIAL BANKS
SWISS ASSET MANAGEMENT BANKS
SWISS PRIVATE BANKS
Swiss banks are considered among the safest in the world.
Switzerland’s Commercial Banks have the highest equity to asset ratios of any large banks in the world. Further, they have capital and disclosed reserves that amount to well over 5 percent of the total amount that they have lent. That is, Swiss banks maintain a very high ratio of deposits to cash or gold reserves compared to any other country banking system. Swiss banks have very conservative balance sheets, they are well capitalized and bankruptcy among Swiss banks are very rare. Swiss banks have earned a reputation around the world for providing sophisticated and discreet banking services.
Swiss Asset Management Banks have had a long reputation for managing investment portfolios for their clients while providing other services such as estate planning, wealth management and trust company formation to name just a few.
Swiss Private Banks are those banks that are not incorporated but rather rely on the assets of the partners involved to meet the liabilities of the bank. Quite simply, a bank introduction is usually required to invest with these smaller prestigious banks. It is difficult to walk in out of the blue and become a client. Swiss private banks tend to be focused on portfolio management services for wealthy individuals.
FIRST CLASS SERVICE FROM SWISS BANKERS
Swiss bankers are there to serve you, they are world renown for providing first class service to their clients. Switzerland is the world’s premiere money haven and international banking centre as the Swiss banking system is home to a significant percentage of the world’s offshore assets. If you are very wealthy, Swiss banks may send a bank representative to meet with you in person in your home country to commence a banking relationship. Swiss bankers wish to develop a long term relationship, they want to get to know their customers very well ‘know your client’ rule.
"Banking system stability is the backbone of Swiss prosperity"
Swiss bankers in addition to providing a wide array of bank accounts can also offer online banking, investments including gold, credit cards, debt instruments such as loans & mortgages, credit facilities, portfolio management and safekeeping.
Holding gold in Switzerland is very safe alternative to store your wealth, BankIntroductions.com can provide details on how best to do. Gold is a hedge against changes in the world monetary system and foreign exchange risks. Maintaining a storage vehicle can be a vital tool for many of the world's wealthy who may own art, gold & precious minerals and other physical assets.
WHAT’S REQUIRED TO OPEN A BANK ACCOUNT IN SWITZERLAND?
Swiss commercial banks are more middle of the road, they service all types of clients and they are multi-national. Minimum deposit amount usually required for a Swiss bank account for non-residents are 5000 CHF equivalent to 4,900 USD (approximate figures – February 2017).
Those foreigners who want extra discretion and money management services may wish to consider a Swiss Asset Management bank whereby one should have a net wealth in excess of 1 million USD and plan to deposit a minimum of 100,000 USD.
Minimum deposits in order to establish an account with a private Swiss bank are in the area of 500,000 USD to 2.5 million USD, a private bank introductions is often required in order to have your application declared / vetted prior to meeting with the banker.
For further details on the application process, please contact us directly.
FOR FURTHER INFORMATION ON SWISS BANKING - PLEASE CONTACT US HERE AT BankIntroductions.com
Swiss Commercial Banks - Bank Recommendations Services
Swiss Asset Management Banks - Bank Recommendations and Bank Introductions Services - Depends on Account Size - Email us for info.
Swiss Private Banks - Bank Introductions Services
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If you are interested in establishing a bank account, a banking relationship, other financial services, then please send us an email to the following address with a summary description of your request:
PLEASE NOTE: Each individual and/or business has their own specific banking requirements. Here at BankIntroductions.com, we will be delighted to assist you with bank recommendations, bank introduction services and/or names/contact info of other financial intermediaries who can help to facilitate your request.
These services are fee determined and each situation will be quoted a ‘USD’ consulting fee based on the complexity of the request. Our firm is dedicated to pointing you to sound, reputable global banks and other financial institutions and/or other intermediaries, financial conduits.
Bank Accounts, Business Accounts, Online / Internet Accounts, Credit / Debit Cards, Credit Facilities, Gold Accounts, Annuities, Investments, Wealth Management - Portfolio Management Referrals, Storage, Trusts, etc.
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