Why should you establish an offshore
company and hold the account in your company
name rather than your personal name?
Wire transfers, check deposits, etc. leave
electronic and/or paper trails. If someone held
the account in his or her own name, the transactions
would leave trails right back to himself or
herself. Whereas, when the account is held in
the name of a privately owned company, and wire
transfers and checks are sent in the company
name, the chance of finding the human being
behind the transaction is substantially lessened.
This is especially the case when the company
is formed in a private jurisdiction such as
the Caribbean island of Nevis.
Why should the bank not have a branch
in the country in which you live?
If your foreign bank has branches in the United States, for example and you live in the US, the court in which you are being sued could force the US branch to reveal normally secret information about your foreign account. There have been cases where US civil, tax and criminal courts have forced local US branches to reveal information or forfeit assets of the depositors. Whereas, when there is no US bank branch, that option is taken off of the table for your enemies-at-law.
So, that is why it is best to establish bank
accounts that do not have branches back home.
Credit Suisse and UBS may be well-known. However,
for the US, UK or Canadian customer, there are
much better choices in order to achieve maximum
protection of assets. For recommended choices,
call 1-800-830-1055 or +1-661-253-3303 and ask
for a free consultation.
It goes without saying that it is essential to comply with US and international laws, including, but not limited to, securities and tax laws. Our company will not knowingly assist individuals who intend to evade taxes or utilize our services for illicit activity. So, this discussion assumes that the reader is utilizing the services exclusively for legal means.
When banking in Switzerland you will find a
wide variety of investment options. The most
profitable is the “managed” bank
account. The managed account will tend to give
you your best rate of return on your money.
The bank conservatively invests your money in
securities, bonds and interest-bearing vehicles.
The very conservative bank investing tendencies
of the Swiss provide substantial safety. While,
at the same time the bank account will often
show an annual 8-15% return in the long-term.
Naturally, with the managed account, the bank
does not guarantee a specific return. The plus
side is that your overall long-term return is
typically quite respectable.
Swiss banks also offer the standard interest-bearing
accounts and CDs. These typically produce a
very low rate of interest, as is typical in
other countries of the world. Therefore, the
managed account is the most strongly recommended
type of account offered by Swiss financial institutions.
Swiss
Bank Account - Privacy
For decades, the Swiss have polished the image
of their banking industry. Swiss banks are some
of the strongest and safest in the world. The
Swiss also take bank privacy and secrecy very
seriously.
Naturally, to keep a reputable image, the Swiss
will not accept bank accounts to launder the
proceeds of criminal activity. Therefore the
Swiss have a test to determine if Bank activity
shall be revealed to an outside government.
If someone has been convicted of a crime in
the US, for example and the US government requests
information about a bank in Swiss territory,
the case will be brought before a Swiss court.
If the crime for which the US courts have convicted
the individual is also a crime according the
Swiss law, the information may then be revealed.
In Switzerland, tax evasion is not a crime.
Therefore, if an individual is solely convicted
of a tax crime in one’s country of residence,
the bank on Swiss soil will not be obligated
to reveal information.
In spite of this, it is recommended in the
strongest terms to obey the law of the land
where you are legally obligated to pay taxes.
The purpose of this article is to offer helpful
hints and information about the financial strength
and privacy of banking in Switzerland. It is
not meant by any stretch of the imagination
to give advice about avoiding taxes that are
legally due. People in the US, UK and Canada
are taxed on their worldwide income.
If one’s tax returns in the US are subpoenaed,
attorney Dr. Arnold S. Goldstein asserts, the
taxpayer may refuse to reveal his or her returns
by invoking his 5th amendment privilege. Therefore,
being honest on one’s tax returns does
not need to jeopardize the strength of one’s
civil asset protection desires.
Switzerland
Bank Information -
More tips and hints
Many institutions in Switzerland require a
minimum opening balance of US $500,000 to US
$2.5 million (as of this writing that is about
UK£300,000 or €420,000 to UK£1.4
million or €2.1 million). However, if one
has less than this available, there are institutions
that will accept lower initial deposits. Some
will want to see that there is potential for
the balance to grow to the minimum amounts.
Moreover, setting up an account here is not
a quick in and out type of transaction. The
banks desire a very strong, long-term relationship.
They like to know their customers and tailor
their investment strategies to best suit the
customer's long-term financial growth objectives.
Companies Incorporated has been in
business since 1977. Our executives
have visited Switzerland on numerous occasions
and have strong relationships with many financial
institutions based in Geneva and Zurich.
For more free information or to open
an account in Switzerland, call 1-800-830-1055
or +1-661-253-3303. To apply online,
please click
here. To order an offshore company plus
account, please click
here.
Swiss
Bank Information
The
Most Frequently Asked Questions
Maximum
Asset Protection for your Swiss Account
Swiss
Bank Tips and Information
Information
about Switzerlandand and Swiss Bank History
Swiss
Privacy Laws
