Swiss Bank Account - Switzerland Banks
A Swiss bank account is sought after because
of the strength and privacy of Banks in Switzerland.
Here is a bit of history about Swiss bank accounts
and the country in general.
Fast Facts
Population
7,489,370 (July 2005 est.)
Capital
Bern, 122,500 (July 2003 est.)
Commercial Center & Largest City
Zurich, 366,145 (July 2004 est.)
Location
In Central Europe, touches the Eastern border
of France, the Northern border of Italy, the
Southern border of Germany and the westernmost
border of Austria.
Languages
Four national languages, the first three of
which are official languages:
German 64%
French 20%
Italian 6.5%
Romansch 0.5%
Businesspeople use English and French.
Size
About twice the size of New Jersey.
Weather
Very similar to the Northeastern United States
Currency
The Swiss Franc
Religion
Roman Catholic 42%, Protestant 35%, Muslim 4%
Literacy Rate
99.5%
Country Subdivisions
Divided into 26 cantons as follows:
1) Aargau, 2) Appenzell Ausser-Rhoden, 3) Appenzell
Inner-Rhoden, 4) Basel-Landschaft, 5) Basel-Stadt,
6) Bern, 7) Fribourg, 8) Geneve, 9) Glarus,
10) Graubunden, 11) Jura, 12) Luzern, 13) Neuchatel,
14) Nidwalden, 15) Obwalden, 16) Sankt Gallen,
17) Schaffhausen, 18) Schwyz, 19) Solothurn,
20) Thurgau, 21) Ticino, 22) Uri, 23) Valais,
24) Vaud, 25) Zug, and 26) Zurich.
Communications
The Swiss boast a modern communication system
with approximately 6 million telephones, 7 million
mobile cellular telephones and over 3.5 million
Internet users.
Transportation
71,212 km (44,249 mi) of paved roadway, including
1,706 km (1,060 mi) of expressway. Daily flights
to Zurich and Geneva. Extensive waterways that
are accessible by boat and river barge directly
from the Sea.
Country Background
The Swiss Confederation was started in 1291.
Its original purpose was to provide for the
common defense of three cantons. (Cantons are
roughly equivalent to states or provinces.)
In later years, other cantons joined the initial
three. In 1499, Switzerland acquired its independence
from the Holy Roman Empire. The sovereignty
and independence of the country have been well
respected by European countries. The country
was not involved in either World War one or
two. Became a member of the UN in 2002. Country
remains committed to neutrality and has not,
as of this writing, become a member of the EU.
Switzerland is a peaceful, stable and wealthy
country with a modern economy and low unemployment.
The per capita incomes of its workers are larger
than the big Western European nations. Establishing
a Swiss bank account remains common for many
individuals and companies worldwide because
of the Swiss bank secrecy laws and the long-term
stability and value of the Swiss franc. Unemployment
remains less than one half the average in the
EU.
Banking
Because of the peace, stability, financial strength
and conservative business nature of the Swiss,
the country has been a respectable banking center
for many years. Very strict privacy laws were
put into place in 1934 making it a crime to
reveal information about a client’s bank
account. The only exception to this is if the
accountholder has committed a crime that is
also a crime in Switzerland and the proceeds
of the crime are in the bank. It first must
be brought before a Swiss judge and ruled upon
by a Swiss court. Tax evasion is not a crime
in Switzerland and account information is not
revealed in the event of a tax crime conviction.
However, as a responsible company, we highly
recommend that you follow the tax laws of the
jurisdictions in which you are legally required.
Swiss banks do not accept small deposits or
those to intend to quickly open and close their
accounts. Most banks have deposit requirements
of $1 million (US) or more. Some banks will
accept as little as $200,000. If less than this
amount is available, there are some very strong,
safe banks in the Caribbean that will accept
less than this amount.
For privacy, all Swiss accounts should be opened
in an offshore company name and not a personal
name. So, first establish and offshore company.
Then open an offshore account. A company in
the Caribbean Island of Nevis offers the best
privacy. A Nevis limited liability company (LLC)
offers both privacy of ownership and legal asset
protection.
In a personal account, all wire transfers and
checks would leave an indelible paper and/or
electronic trail. In a corporate account, on
the other hand, the wire transfers and checks
are in the name of the privately owned company.
So there is significantly more privacy when
a Swiss account is opened in an offshore company
name (such as a Nevis LLC) than making the privacy-penetrating
mistake of opening an account in one’s
own name. So, open the account in the name of
a Nevis LLC, not your name.
I’m Ready. What Do I Do Now?
To open a Swiss bank account and offshore company
or for more free information call Companies
Incorporated, at 1-800-830-1055
or internationally at +1-661-253-3303.
To apply online, please click
here. To order an offshore company plus
account, please click
here.
