Swiss Private Banking – Exploring Offshore Banking Services

“Swiss Private Banking” is a term always used with reference to a specialized group of financial institutions based in Switzerland that are entirely dedicated towards managing taiwanc portfolios of private clients.

Supported by a politically and socially stable economy and a dependable legal system, Switzerland is one of those few countries having a long history of economic prosperity. However, the country has always been recognized as a global leader in banking providing reliable, secure and confidential providing sophisticated, discreet and professional banking services to customers.

How to Open a Swiss Bank Account? – “Opening an account in a Swiss Bank is only possible if you are a millionaire” – This statement doesn’t hold any truth. Anybody chakrock can open a bank account with a Swiss bank, provided he/she meets the specified eligibility criteria.

Opening an account with any Swiss bank is almost similar to that of opening a bank account in your own country. At present, there are more than 400 authorized banking institutions and securities firms in this country serving millions of customers across the globe. Prominent among these are UBS AG and Credit Suisse, each of them having an extensive branch network within the country and in many parts of the world. All that one needs to do is to find out a good banking institution that allows a non-resident savings account but doesn’t require huge amount of money towards minimal deposit. There are some banks, mytaggys where customers can open an account with a minimum initial deposit of Fr. 5,000 only. Information on such banking firms in Switzerland can be obtained on the internet. In fact there are several websites providing unlimited reviews of Swiss banks. Just contact them and get the conditions required for opening an account.

How to open a Swiss bank account? – There are three ways of opening an account with a Swiss Bank. Just pay a brokerage amount ranging from $400 to $1000 depending on the account type to any online brokerage firm and they can open a bank account on your behalf. However, this method is being strictly regulated under Swiss laws so as to prevent any fraudulent activities. Hence, Swiss banks are ensuring that they are completely aware about the customer’s background before approving any account, bmblotto opening form from non-resident customers. Second method of opening a Swiss bank account is to pay a personal visit. Lastly, one can even opt for opening an account through mail, where the customer needs to contact the local Swiss Consulate, submit a requisition, get the required forms, fill them up, get the signature verified at the Consulate and send across all the documents along with the initial deposit money to the bank via mail.

Why Swiss Private Banks Are Highly Reputed? – The concept of Swiss private banking services originated for the first time in St. Gallen and Geneva during mid 1700s with the objective of helping customers with aspects such as wealth management, asset protection and investment so that they can pass on their assets to the next generation. Since then, these private banks have been an integral part of Swiss culture.

The most remarkable aspect about private banking sector in Switzerland is its adherence to aspects such as confidentiality and privacy. Due to these reasons, Swiss banks have long been a safe haven for criminals and offenders for preserving their money. In fact, it is, canbioca not even possible to know that an individual owns a Swiss private bank account until the details are revealed by the individual himself. However, banking secrecy code doesn’t exist on accounts in circumstances where the account holder is undergoing legal proceedings for crimes such as illegal drug trafficking, smuggling, terrorist activities, or money laundering.

Secondly, Swiss banks offer an extensive range of services to customers depending on the needs and requirements of the customer. These services include checking accounts, savings accounts, custodial accounts, investment options, Swiss bank certificates of deposit and stock certificates. For selected customers, these banks even provide specialized services such as estate planning, wealth management and trust companies.

Thirdly, the interest earned on money deposits present in Swiss Bank accounts is exempted from tax.  Accessing money is easier as most of these banks conduct Swiss online bank operations and provide complete internet banking services. Also, these banks facilitate a variety of withdrawal methods such as credit cards, direct cash withdrawals, travelers’ checks and online bank transfers. In addition, they allow customers to make withdrawals in any currency of their choice.


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