Many businessmen, and even just private individuals, knowing about the reliability of Swiss banks, would like to open an account in one of them in order to keep their savings. But in order to do this, it is important to know some conditions. Swiss banking system works a little differently than, for example, the Russian version.
Who is eligible to open an account in Switzerland
Any person, both legal and natural, has the right to perform this procedure. Banks offer many options for the currency in which it is possible to open an account. In many countries there are branches, and if there is still no branch of the bank that is considered the most suitable, then many of the banks provide for the possibility of opening an account by fax or mail. In the latter case, the bank sends the future client all the requirements and forms of receipts necessary to open an account. But, in contrast to opening an account without prior notice, notarized copies of the documents provided will be required.
How to open an account
In order to open an account in a Swiss bank, you need not only the desire and money that you plan to deposit there, but also documents confirming the legal origin of the funds.
Among the required documents:
- the passport;
- documents confirming the existence of a legitimate source of income - certificates from the company, tax receipts, professional license;
- documents that certify the source of money deposited into the account - a receipt for receiving funds in the event of the sale of securities, an agreement on the sale of land, business, houses, etc.
- Here is an approximate list of required information when opening an individual account:
- client name - full;
- address of his permanent residence;
- Date and place of birth;
- occupation;
- nationality;
- notarized copies from the first to the fourth pages of the client's passport;
- certified copies of the latest utility bills, where the last name and address of residence are clearly read;
- phone number and (if any) fax number.
- In a private bank, when opening an account, a reference (certificate-recommendation) may be required from someone who is already a client of the bank.
Additional questions and services
The bank may inquire about the client's plans for the future - for example, whether serious purchases (real estate, etc.) or the opening of a business are planned. It's not at all a curiosity. Knowing the approximate plans, the client will be able to give qualified advice on a more correct allocation of funds.
You can instruct the bank to manage your investment portfolio, then the client will be asked about the acceptable risk for him. That is, the more information the bank has, the better advice and services it will be able to offer to its client according to his individual needs.
Reasons why a Swiss bank can refuse to open an account
Reasons for rejection can be divided into two categories:
The opening of an account may be denied to persons whose cooperation as clients may damage the reputation of the bank;
The bank may refuse to open an account, having doubts about the legality of the origin of funds intended for investment in the account. Swiss law prohibits banks from accepting funds even in cases where there is only reason to believe they were obtained by criminal or illegal means.
Bank selection
Swiss banks, depending on the specifics of the services offered, can be divided into several varieties:
- Universal service banks (eg Credit Suisse, Swiss Bank Corporation, Union Bank of Switzerland). In fact, these are conventional banks with which most of us have to deal. They carry out such operations: granting loans, opening current accounts, opening letters of credit, etc.
- Hi-class cans (Pictet & Cie, Lombard Odier & Cie). Their main function is to manage the client's funds without exposing them to the risks that are standard for banking operations. These banks do not take part in commercial transactions and do not issue loans.
- cantonal banks. There are twenty-four cantonal banks in the country, about as many as there are cantons and half-cantons. These banks are semi-governmental organizations and bearers of the state guarantee.
- In carrying out their activities, they are also subject to commercial principles, but a significant task for them is to support, develop and stimulate the economy of a particular canton. Typically, these banks carry out the full range of banking activities (with an emphasis on the provision of loans and credits).
There is evidence that 30% Money world are concentrated in Western European countries. Does this mean that you need to open a Swiss account? Below are questions and answers about why it is necessary to open an account in Switzerland.
Why open an account in Switzerland?
There are several options for why you should open a bank account in Switzerland:
- First, there is a bank secrecy law that bank employees must comply with. Employees who break the law will be fined. Bank specialists individually approach the issues of each client. Swiss banks have a prestigious reputation and high professionalism, respect the funds of bank account holders and offer a large number of financial management tools. They also have many years of experience in money management.
- In Switzerland, there is stability both in terms of economy and currency, as well as political independence. The country is respected by international partners and colleagues.
Switzerland is a country with its own history. Don't expect to open an account in Switzerland quickly. But be sure to get such qualities and opportunities that are not available in most countries.
Who should open an account in Switzerland?
Switzerland is an accessible jurisdiction for investors. But at the same time, there are limitations.
To open an account in a Swiss bank, it is necessary that the client is not included in the list of unreliable persons, intruders, and so on. Russians, Ukrainians and Belarusians can open a corporate or personal account in a Swiss bank only if there is proof of legal origin of income. Switzerland does not cooperate with persons who have a dark past.
The next constraint is investment capital. If you plan to receive more funds, then you will need to deposit a large amount of investment capital for a designated period.
What kind of accounts are opened in Switzerland?
Swiss banks have the opportunity to open various types of accounts, such as:
- Current account in Switzerland
One of the most common, the main purpose of which is local activity and the provision of the company.
In order to register a current account in a Swiss bank, you need to have a real physical office and business partners in the country. Such an account is less designed for international cooperation. Basically, at least 50% of financial transactions must be made between local companies.
There are two types of banking institutions in Switzerland. These are federal - for those who are engaged in business activities throughout Switzerland, and cantonal - for those who are going to do business within the same canton.
Bank accounts are opened in official currency Switzerland. Transfers and withdrawals of cash in euros are possible.
- Deposit account in Switzerland
Deposit accounts in Switzerland are among the most popular, as there are the fewest restrictions. Anyone can open an account both in the official currency and in USD, EUR and so on.
Please note that the deposit account is less relevant for companies and more designed for individuals.
The main difference is in the percentage of the rate. Due to the stability of the CHF, many people opened an account in this currency and, as a result, the franc has risen in price greatly. The government has decided to untie the dependence of the currency on the euro and set negative rates on deposits. At the same time, this decision did not affect zero and positive rates for the euro, dollar and other currencies.
Despite the existence of negative rates, depositors continue to hold accounts in CHF.
And the fact is that Switzerland has the most stable and predictable economy, unlike many other countries where the consequences of bank failures are worse than negative Swiss franc accounts.
- Investment account in Switzerland
Investment accounts in Switzerland have a significant advantage. The purpose of investment accounts is to increase capital.
Switzerland has investment funds, trusts, etc., which offer the most affordable choice of instruments. At the same time, investment accounts are more demanding than settlement and deposit accounts. So, private banks require deposits with the presence of 500 thousand euros.
If you want to cooperate with a Swiss bank, we recommend that you pay attention to opening an investment account in Switzerland. This offer will allow you to open not one, but two accounts at once, since bank customers who open an investment account have the opportunity to immediately open a current account too.
How to choose a bank in Switzerland?
To open an account in Switzerland, you need to decide on the purpose of the application. This may be protecting your own assets from loss, increasing wealth, etc.
The second step is to determine the amount. Banks do not accept if you plan to manage an amount less than 5 thousand EUR. The best offers for depositors from 500 thousand EUR.
After going through the above steps, you can start searching desired bank. You need to focus only on banks that operate in Switzerland, since branches operate according to the laws of the country where they are located.
Some Swiss banks do not use advertising. To find the right bank for you and your needs, you need to contact us for advice. IQ Decision specialists will help you choose the best option for you and accompany at all stages of this procedure.
You can open an account with CIM Bank without a personal visit with our help. This is one of the most affordable banks and its investment capital is 10,000 euros. CIM Bank has convenient internet banking with international online transfers and payments.
Is there bank secrecy of accounts in Switzerland?
To open an account in Switzerland, you need to deal with controversial issues of bank secrecy.
Once upon a time, there was a banking secrecy in Switzerland that hid information about depositors from everyone, including tax authorities. Such behavior raised pressure on Switzerland from countries such as the United States, Germany, France and the United Kingdom, and it had to amend the legislation.
Now banking secrecy has remained at the level of state law, for violation of which, workers and banks receive severe punishment. The secret, as before, is not transmitted tax authorities. At the same time, there is an automatic exchange with America under FATCA.
In order to open accounts in Switzerland without problems, you need to prove the legality of the origin of the company's funds, as well as the fact that the company pays taxes in its country.
How to open an account in Switzerland?
As you already know, before opening an account, you need to know what is the minimum deposit, what is the balance, whether a personal visit is necessary and whether it is possible to open an account without a personal visit.
What is the minimum deposit in Switzerland?
The minimum deposit in Switzerland sometimes complicates the decision to open an account. So, a Swiss bank requires a deposit of at least 500,000 euros. It does not depend on the account type. At the same time, the minimum balance must not be less than 250 thousand euros.
This rule does not work everywhere. The general thing is that the larger the deposit amount, the lower the minimum balance amount.
Personal visit or remote account opening in Switzerland?
There are banks that can open an account in Switzerland without a personal visit. But this strengthens the verification of documents of the company for which the account is opened. It is possible to meet with a representative of the bank using such means of communication as Skype.
Therefore, to find out which bank offers opening an account without a personal visit to Switzerland, you need to contact IQ Decision specialists for advice. To do this, contact us using the contacts that are listed on the site.
In addition, Swiss banks may refuse to open an account without a personal visit, for the reason that the confidence in clients from post-Soviet countries is low. We can offer you a pre-approval service. This is when you bring us documents once, and we submit applications to several banks.
Please note that the application process takes a long time.
What documents are needed to open an account in Switzerland?
To open a Swiss bank account, you will need a number of documents that must be submitted to the bank. Also, please note that each bank has the right to request additional documentation, at its discretion.
To open an account for a company in a bank in Switzerland, you need confirmation of the registration of the company, confirmation of the competence of the director of the company and mandatory proof of the legality of income.
For more detailed information, contact IQ Decision lawyers. Our staff will help to collect a personal package of documents that will be required for your company.
How to open a Swiss bank account?
To open an account in Switzerland as quickly as possible, use the services of experienced lawyers. We provide support services in opening accounts not only in Switzerland, but also in any other jurisdiction you are interested in. In order to order a consultation with IQ Decision lawyers, please contact us using the contacts listed on the website.
Professional service, respectability, high level of capitalization and liquidity make Alpiysky Krai the best place to place and store the savings of foreign citizens. Wanting to open a Swiss bank account, to an individual from Russia, you must personally visit the country (or meet with a representative on the territory of the Russian Federation), make a minimum deposit into the account and confirm the legality of the origin of income. Capital management is carried out by fax or telephone, payment transactions require coordination with bank managers.
The legislative framework
In 2016, article 305 bis of the Criminal Code of the Swiss Confederation was legalized, which includes the concept of "qualified tax evasion". The law provides for administrative liability for bankers who suspect that clients have illegally attracted capital, but neglected measures to suspend operations. This contributed to an increase in the level of compliance control when opening an account abroad. Financiers seek to protect their companies from scandals and punishments.
It's important to know! It will not be possible to open an account in a Swiss bank for individuals who make up a list of intruders, government officials, spouses and minor children of officials.
Types of Swiss accounts: settlement
The most common option used for household purposes, such as shopping for groceries in supermarkets. Registration of a current account is available to non-residents of the country, permanently residing or employed in Switzerland, as well as travelers. More than 300 banks and 3000 branches are at the service of clients.
- Three financial giants: UBS AG, Credit Suisse Group Raiffeisen Group dealing with the opening of standard bank accounts for permanent residents travelers.
- 24 cantonal banks subordinate to certain administrative divisions(remember, there are 26 cantons in Switzerland). If a resident moves to another subject of the federation, he is forced to transfer the account to the new canton. Bank accounts are opened in the official currency, cash transfers and withdrawals in euros are not possible.
- 13 private banks.
Deposit
Deposit programs of Swiss banks are characterized by minimal restrictions, allowing a private person to open an account in euros, dollars and francs. When opening an account in foreign bank fee is not charged. And the maintenance costs 100 to 500 francs annually. The cost of additional banking operations (statements, transfers) is set by banks individually.
Dividends on deposits are close to zero:
- savings account - 0.15%;
- private - 0.01%;
- pension accumulative - 1.125%.
The negative refinancing rate (-0.25…-1.25%) was set by the Central Bank of Switzerland. A negative percentage means that companies that maintain correspondent accounts are required to pay 0.75% annually of the amount in excess of the established limit. New law does not affect deposits of less than 10 million francs, as well as investments of banks below 20 times the minimum allowable reserve. The established refinancing rate reduces income from savings accounts, forcing banks' money to work for the country's economy. As the press service of the Central Bank of Switzerland explained, this measure is a penalty for saving liquid funds (they should not be “dead weight”).
An additional factor that influenced the rate cut was the appreciation of the Swiss franc. The government is forced to set negative rates on CHF deposits. Zero or positive rates remained on dollar and euro accounts. However, depositors rely on the stability and reliability of the francs, allowing them to save their savings.
Investment
Investment funds and trusts operate in Switzerland, offering a wide range of instruments for increasing capital. Maximum profitable terms investment accounts are provided by private companies that deposit more than 250,000 euros, large bankers require less, but the result is lower.
Anonymous account - a tool that ensures the confidentiality of banking transactions and placed amounts. The identification of the deposit owner is based on a numerical value, the rest of the information is hidden. The measure taken previously made it possible to hide the identity of the client from government agencies (especially tax service). With increasing financial reporting requirements, anonymous accounts are rare and costly.
banking secrecy
Previously, Switzerland hid information about depositors from government agencies, which caused pressure from the United States, Germany, France, and Great Britain. In 2015 the government Altai Territory amended the legislation to prohibit the transfer of information to tax authorities within the state, but allow for automatic exchange with the United States under FATXA.
Instructions for opening a Swiss bank account
To place capital in a foreign bank, a potential investor uses the services of a subsidiary (issuer, representative office, branch). If the financial institution of interest does not operate in the territory of the Russian Federation, you will have to contact directly or choose law firm acting as an intermediary between the depositor and the banker. The cost of services will be 500-1000 dollars.
Before opening a Swiss bank account, a citizen of Russia should prepare copies and originals of documents:
- foreign passport;
- passports of a citizen of the Russian Federation;
- proof of income, for example, a real estate sale agreement, a cash withdrawal statement from another bank, a receipt for receiving money from the sale of securities.
It's important to know! The amount of investment (in dollars, euros, francs or pounds sterling) must not exceed the amount of net income for the last five years.
You should also prepare documentation on education, professional activities, salary, family composition. It is advisable to get recommendations from acquaintances who are clients of Swiss banks. Personal information transferred to the manager of the company responsible for the disclosure of bank secrecy.
After collecting the documents and transferring the information to the bank representative, it remains to wait for a letter from Switzerland confirming the successful registration of the account. The procedure for reviewing papers and making a decision takes 1-30 days. Account details are provided in the account opening confirmation letter. To fully activate your account, you must transfer to the deposit an amount exceeding the limit.
The minimum deposit amount for non-residents of Switzerland is 10,000–2,000,000 €, the minimum balance is 1,000–2,000,000 €. Restrictions do not apply to foreigners residing in the country or staying periodically for work purposes.
Remote account opening online
As part of Due Diligence(procedures for drawing up an objective view of the investment object), Swiss bankers conduct a mandatory verification of the client's identity, guided by an identity document.
It is impossible to open a deposit on the territory of a foreign state through remote access channels (Internet, mail, telephone, e-mail or fax). However, the bank has the right to accept an electronic application, which is subject to re-processing as soon as the identity is confirmed by a passport and identification card. If there is a representative office, branch or subsidiary of the selected company in Russia, the identity card is carried out on the spot. Otherwise, confirmation of the procedure on the territory of the bank will be required. Foreign financiers also check the authenticity of the new client's address by registered mail or by requesting utility bills.
Providing reports to the Federal Tax Service
Within one month from the date of opening a foreign account, a written notification must be sent to the regional branch of the Federal Tax Service. Next in personal account taxpayer, the client generates a cash flow report for the previous period (quarter, year). According to the information of the Moscow Inspectorate No. 13, holders of foreign accounts must provide the Federal Tax Service with notarized account statements in the most convenient way: by registered mail or by the client's personal presentation.
Information for completing the report:
- Full name, TIN of the account holder, date of birth, address of residence of the client, passport data.
- Name of the Swiss organization (in Latin letters), BIC or SWIFT Code of the bank.
- Switzerland code (use the "All-Russian classifier of the states of the world").
- Open deposit/card number.
- The foreign currency code of the account corresponding to "OKV".
- Co-owners of the deposit (if any).
- The amount at the beginning and end of the year, the amount of incoming and outgoing transactions.
Note! Rare foreign companies will provide the opportunity to make transfers. A Swiss account is usually opened for the management and preservation of capital. Representatives of the Alpine countries prefer to keep confidentiality, the less money movement, the better.
It is also important to take into account the restrictions on replenishing foreign accounts under currency regulation RF. Allowable items of income include wages, wills, dividends, coupon yields, rentals.
The amount of taxes and fines
When making a deposit in a Swiss bank, a Russian citizen is required to notify the Federal Tax Service about opening, closing, changing details and cash flow (FZ No. 173 of 06/28/2014). Income from foreign bank accounts is subject to a single tax rate- 13%. Russians permanently residing outside the Russian Federation pay taxes at the place of residence, where the rate is determined by state policy. Settlements are made in ruble currency.
In case of violation of legislative acts, the client faces fines:
Sanctions for late filing notifications
How to open a Swiss bank account: step by step
How to open a Swiss bank account - we offer step by step instructions: types of accounts, what documents are needed, questions asked and misconceptions of people.
How to open a Swiss bank account is of interest to many.
After all, everyone at least once heard a mention in films that it is in Switzerland that it is worth keeping hard-earned money.
At the same time, without worrying about their safety.
In real life, things are not so simple.
Nevertheless, anyone who wants to open an account with a reliable bank should know about the features of the Swiss banking system and the registration procedure.
Who can open a Swiss bank account?
It really is available to everyone.
But still, there are certain reasons why bank representatives may refuse. For example:
Swiss banks carefully monitor their reputation.
It is not for nothing that they have earned the title of the most reliable banking system all over the world!
Therefore, if the depositor is involved in any political scandal, he may be denied service.
The same can be said about the source of origin of the client's money.
If the bank representatives have doubts that they were received honestly, most likely they will not deal with you.
How to choose a Swiss bank in which to open an account?
In the minds of many, the "Swiss bank" is a specific institution.
Of course it isn't.
There are more than 300 banks in the country.
What is worth knowing in order to choose the one with whom it is worth cooperating?
UBSAG and CreditSuisseGroup are the choice for those who value stability.
These banks are considered the best in the field.
They are the largest, which means they give more guarantees.
An analogue of regions in Switzerland is called cantons (26 in total).
There are 24 cantonal banks in the country.
Each is tied to a specific area and acts according to its legislation.
These are private banks, recognized as the oldest financial institutions in the system.
There are 13 of them in the country.
They focus on the work of managing customer deposits.
While ordinary banks pay more attention to loans and deposits.
What account can I open in a Swiss bank?
- personal - allows you to use any bank services and personal funds on the account;
- savings - they are recognized as a particularly safe account option, and are used for ordinary accumulation and interest on the deposit amount;
- investment - should be opened to those who are engaged in investing and buying securities.
Can I open an account using the Internet?
It is not possible to open a bank account on your own using the Internet.
At least because of the security policy.
To become a bank customer, you need to accurately identify the person.
And the Internet does not provide such an opportunity, both from the legal side of the issue, and for banal technical reasons.
However, this does not mean that it is impossible to personalize the client in absentia.
This is possible due to the receipt by the representatives of the bank of a certified copy of any suitable identification document.
You can transfer documents to their destination through intermediaries: a branch of a banking institution, a representative office, financial specialist, consul, notary.
In the future, in addition to the document, you will need to confirm the address through correspondence.
How can I open an account while in my country?
For remote opening, as mentioned above, it will be necessary to confirm your identity using an official document (passport, driver's license).
You should not hope that they will not treat you so strictly and it will be easier to act just because you are a resident of another country.
In order to activate the process of opening an account in a Swiss bank, the client must contact its subsidiary "point".
This includes issuing banks, subsidiaries, representative offices and, of course, branches.
If none of the above is available in your country, and you want to open an account in a particular selected bank, you will have to contact them directly.
At the same time, keep in mind that each specific financial institution will have its own account registration system, rules for its use and the minimum amount for the contribution.
What documents are required at the bank to open an account?
The main point is, of course, any document that can officially confirm the identity of the applicant.
In addition to your personal integrity, the bank is also interested in the fate of the money that you will deposit into the account.
So you should be prepared that you will be required to provide documents that indicate the source of the money.
For example, a contract for a real estate transaction, data on the sale of shares or other securities, a certificate of your inheritance.
In addition to confirming the person directly, the bank will need documents with other basic information: date of birth, type of employment, contacts, data on the place of residence.
specific list required documents different for each individual bank.
One thing is for sure: all submitted documents will need to be certified.
Any notary from your city of residence can act as a witness.
What questions can be asked in a Swiss bank?
If you have already tried to open an account at least once, then you know about one of the mandatory components - questions from bank employees.
In this case, they may be more "deep" than the usual questions from the state banks in your country.
However, they should not be taken too seriously either.
Rather, it is a conversation from the category of "mandatory routine."
Questions asked may include:
- Do you open a deposit for yourself?
- How did you get the money that you plan to deposit in the bank?
- How would you characterize the current monetary situation?
- What business are you in?
- Have you experienced any problems transferring money?
Can I open an anonymous account in Switzerland?
One of the constant accompanying cinematic bank accounts in Switzerland is their supposedly complete anonymity.
However, any more or less legally savvy person understands that this is impossible.
It is possible to become a client only by confirming your identity. And this already contradicts the concept of anonymity.
However, there is a close concept - a numbered deposit account.
Its essence lies in the fact that in addition to "opening" your person to the bank, in the future you will not have to advertise it.
Instead of using a name, any transactions with your money will take place under the "heading" of a personal assigned number.
This is, in its way, the maximum anonymity.
But there is also a pitfall here.
Do not use a numbered deposit account for international transfers.
After all, when performing this operation, you are required to provide personal information.
Is it safe to open Swiss bank accounts?
Where did the rumors about the absolute reliability and safety of Swiss banks come from?
The fact is that any such organization in Sweden must undergo a licensing procedure.
And all this according to the highest quality standards of the Basel Commission.
They regulate the issue of liquidity, the size authorized capital and many other banking issues.
This is already an indicator of high quality.
But for Switzerland, these rules and requirements have been tightened twice - thanks to the categorical legislation.
That is why using banks in this country means entrusting money to the most reliable vault.
What other advantages are there in choosing a Swiss bank,
see in the video:
Popular misconceptions about Swiss banks
We've cleared up some misconceptions, but there are still a few more.
Consider the most popular:
Putting money on a deposit in Switzerland is very profitable and reliable.
The question of reliability has been discussed above.
What about interest rate, there is nothing to please.
For the national currency, it is 18-24%, that is, as in most other state-owned banks in other countries.
But for the dollar, the figure is quite sad - 6-8%.
For many, it becomes an unpleasant surprise that there is such an unusual item for a Russian person as an “irreducible balance”.
For banks in Switzerland, it is quite large - from $ 200,000.
Although some organizations have lowered the threshold to $5-10,000.
Contributor information may be disclosed.
This is true, but if you are a citizen of the United States of America.
For legal and legislative reasons, banks do not have the right to hide the information requested by official structures about the inhabitants of this country.
How to open a bank account Still, it is better to find out in a specific selected organization.
After all, each has its own characteristics and requirements.
Is it possible for a Russian citizen to open a deposit in a Swiss bank and how to do it?
Greetings! I am sure that you need to set yourself life goals that are exceptionally large-scale and ambitious. By the way, many psychologists say that this is the only way to achieve real success!
Therefore, today I will talk about how to open a Swiss bank account for a Russian citizen. Agree, such a goal certainly falls under the definition of "large-scale and ambitious."
Imagine for a second that you do not know where to put the extra $500,000. And the first thing that comes to mind is a reliable Swiss bank!
Questions and answers
Can a Russian citizen open such an account?
It is possible, but the procedure will differ from that intended for citizens of Switzerland (or Russians who have a residence permit in the country of "banks and chocolate").
At a minimum, you will need to prove the source of capital. Well, of course, representatives of the Swiss credit institution will check the identity of the client almost under a microscope.
Are there any restrictions on the minimum deposit amount?
Individuals residing outside of Switzerland (including Russians) can open a deposit here by depositing an amount from 300,000 to 500,000 Swiss francs. For reference: on November 19, 2015, the CHF/RUB exchange rate was 63.8 rubles.
By the way, because of the crisis in Russia, almost all of them raised the minimum amount of "entry" for our compatriots.
Can I open a deposit remotely?
In many Swiss banks it is possible to open an account via the Internet, fax or telephone. However, an individual will still have to provide the office with the originals of all documents. The easiest way is to do it personally (you will have to go to Switzerland) or through Russian intermediaries (meeting with a representative within Russia).
What documents are required to open an account?
Firstly, a foreign passport, an identification card or some other official identification document.
Secondly, a document on the origin of the money that is deposited into the account. The amount to open an account is considerable, so a certificate of income of 30,000 rubles will not work here.
Ideal option: legal business, inheritance or capital from the sale of real estate.
In what currency can I open an account?
In the national Swiss currency, as well as in euros, US dollars and British pounds. They say that soon it will be possible to make a contribution in Chinese yuan.
Are deposits in Switzerland protected by bank secrecy?
Such a concept as banking secrecy is enshrined at the legislative level. Both former and current employees of Swiss banks are criminally liable for disclosing confidential information about their clients!
By the way, the attitude towards citizens of the countries of the former USSR is exactly the same as towards clients from other countries.
Why are they considered so reliable?
“Reliable, like in a Swiss bank” is not just a catch phrase. The fact is that it is in Switzerland that the stability of the banking system is very strictly protected by law.
After the reforms, the country ranks first in the world in terms of the requirements for the size of own reserves of large financial institutions. Perhaps it is precisely because of this that the country survived the last financial crisis almost painlessly (unlike their counterparts from the US and Europe).
Swiss banks offer a lot of capital guarantees. For example, cash securities and precious metals, which are stored in safes, remain the property of their owners in case of bankruptcy. And they return to them at the first request!
How to open a deposit in a Swiss bank in Russia?
I don’t know how it is in other cities, but intermediaries are already working in Moscow to help bankers from Switzerland and large Russian investors find each other.
- Organize meetings with Swiss bankers in Russia
- Assist with all necessary paperwork
- Advising clients on investment and financial planning
- Opening Swiss bank accounts and facilitating a Platinum Card or Mortgage for the purchase of real estate in Switzerland
It is clear that such mediation will have to pay a lot. The procedure for opening a deposit through an intermediary in Russia looks something like this:
- You send a letter to the intermediary requesting information about its partner banks (for example, Syz Co, Bank de Commerce at de placement or Corner). When choosing a bank, we take into account its reliability rating, capital adequacy level, interest rate and service fees.
- Send a brief information about yourself to the intermediary. Most important point- confirmation of the legality of the origin of funds. You will need copies of real estate purchase and sale agreements, tax returns, bank statements.
- Arrange a meeting with a private Swiss banker in Russia if it is not possible to personally visit an institution in Switzerland.
- If everything is OK, you will receive a confirmation letter about opening an account with details. After that, the money must be transferred to Switzerland through one of the Russian banks (required by our legislation). In addition, you must notify the local tax office of opening an account.
- After crediting money to your account, you just have to form an investment package (buy shares, funds, precious metals) or simply leave money on your account at a minimum interest rate.
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How to open a Swiss bank account for individuals
Surely, many of our fellow citizens believe that only wealthy people can open an account in a Swiss bank. In part, of course, this is true, because in order to use the services of foreign credit organizations, you need to meet certain requirements, but nevertheless, they are quite feasible even for the average Russian. True, the procedure has some features, so you should carefully consider how to open a Swiss bank account for a Russian citizen, this will be discussed further.
Can a Russian citizen open a Swiss bank account?
Everyone had to hear about Swiss banks for sure, especially often this topic is raised in feature films, mainly the situation concerns wealthy people who try to keep their savings as securely as possible. But in reality, opening a Swiss bank account for individuals will not be difficult if he knows all the intricacies of this process. First of all, let's take a look at the main points:
- For Swiss banks, their reputation is in the first place, because they are famous all over the world for their high reliability and collect funds on their accounts literally from all over the world. Therefore, they have a special requirement for the client, he carefully checks each client, if he is caught in any political scandal or criminal activity, then the service will be denied.
- In order to open an account in a Swiss bank, absolutely every client, regardless of his social status and financial situation, must document the source of funds.
- If the client cannot verify the source of his income, or his official wage does not allow him to have such savings, he will also be denied service.
In general, before opening a Swiss bank account for an individual from Russia, he must clearly understand that this is possible only if his money is earned by honest work, he can document the source of income. And finally, there are other features and nuances that you should definitely take into account.
Bank selection
You should not assume that when it comes to a Swiss bank, one large organization immediately appears, in fact this is far from the case. There are currently about 300 commercial organizations operating in Switzerland. Therefore, as elsewhere, the client is faced with the task of choosing the right financial partner, and do not forget that the choice will largely depend on your goal, that is, either go out to keep your savings or make money on them. However, here is a list of the most popular banks in Switzerland:
- UBSAG and CreditSuisseGroup are the most reliable credit institutions in Switzerland, which are key to the state's economy.
- Cantonal banks are credit institutions that are tied to a specific area and operate exclusively according to its legislation, in total there are 24 such banks in Switzerland.
- Finally, the most experienced financial institutions are private banks, there are 13 of them in Switzerland, they are focused on attracting deposits and opening accounts, since all the rest mainly specialize in lending.
Important! The largest bank in terms of assets in Switzerland is Credit Suisse AG, it was founded in 1856, it ranks first among other financial institutions.
How to open a Swiss bank account
So, back to the main question, how to open a Swiss bank account for a Russian citizen. After you have chosen a bank, find out its coordinates, contacts and other information. By the way, for this it is absolutely not necessary to go to Switzerland, because all information about banks is available on the Internet, so you can get acquainted with it without leaving your home. In the next step, you need to decide what kind of account you would like to open, here you have three options:
- personal account - it allows its owner to manage funds at any time convenient for him;
- a savings account or deposit allows you to securely save your capital and make a profit from it;
- an investment account is, in fact, a trust management, that is, you entrust your own funds to a credit institution, and it, in turn, invests money in profitable projects.
Surely many customers will be interested in the question of whether it is possible to open an account remotely, that is, via the Internet, because in our country this practice is used in commercial banks. This is partly true, but in any case, at least once you have to visit financial institutions in order to identify a person and sign an agreement. But, nevertheless, you do not have to go to Switzerland if you want to use the services of a commercial bank, because all documents can be sent by mail.
Please note that it is impossible to open an account remotely via the Internet in any commercial bank if you received such an offer, then be sure that this is a scam.
How exactly to open an account in a foreign bank for a private person is a strictly individual question, that is, you can get advice only from a bank representative who will explain to you all the possibilities in opening an account. What is this about? Some credit institutions have their representative offices abroad, in particular, in Russia, that is, perhaps the bank you have chosen has a branch or subsidiary in Russia, then your task will be simplified as much as possible, because you will be able to go through the identification procedure at home.
Otherwise, the issue will be discussed on an individual basis, you may be able to send notarized documents translated into German, because it is the official language in Switzerland. Here you will have to spend some time collecting and translating documents.
By the way, from documents from individuals, you will definitely need:
- documents confirming the identity of the applicant, for Russian citizens this is a passport;
- a document confirming your income or another source of money, for example, if they were received from any transactions, then you need contracts;
- among other documents: confirmation of registration, certificate of employment, contact details.
Important! Each copy of the documents must be certified by a notary and, if necessary, translated into German.
By the way, one cannot fail to say that the employees of Swiss banks are extremely responsible in their work, and they always check each client, in this regard, they can ask questions that have never been heard by a client of our bank. For example, you may be asked how you characterize your financial situation, or what kind of business you are in, for what purpose you invest money in a bank, and others. Do not be afraid of this approach to opening an account; for representatives of Swiss financial institutions, they are united.
As for the conditions for servicing deposit accounts, the issue is strictly individual, as a rule, each commercial institution has some features, for example, the minimum amount required to open an account is unlikely to be less than 5,000 euros. But as for profitability, you won’t have to count on a high income if you open a deposit, here interest rates range from 0.01 to 1.5% per year.
Security issue
The only goal that Swiss account holders usually pursue is anonymity and security. By the way, contrary to all expectations, a bank account cannot be anonymous, for the simple reason that identification of an individual is required to open it, which means that it is no longer anonymous.
With regard to security, here clients can be sure that no one will save their savings more reliably than Swiss banks. The thing is that each credit organization carries out its activities on the basis of a license, all Swiss banks meet the highest quality standards, they are constantly checked by the Basel Commission. That is, each bank is checked for liquidity.
In fact, Swiss banks deserve attention due to the fact that they act on the basis of strict requirements established at the legislative level. But if you expect to make a profit on a deposit in a Swiss bank, then you should not count on an ultra-high percentage. By the way, the annual rate will largely depend on the currency you choose, for example, dollar accounts have a lower percentage than euro deposits.
Please note that all the terms of cooperation for the Russians will largely depend on the chosen credit institution Therefore, the conditions and requirements should be clarified with the credit institution.
To summarize, a Russian citizen can keep money in a Swiss bank, and the conditions and requirements here are quite acceptable. The only thing worth remembering is that there are high requirements for clients, so you should carefully consider the preparation of documents and the method of their transfer. By the way, individuals who opened accounts in foreign banks must be notified tax office otherwise they face a fine.
Swiss bank deposit
Bank deposit in our time is a popular service. After all, he not only allows you to accumulate money, but also to increase your funds.
At the same time, you can open a deposit not only in a Russian, but also in a reliable Swiss bank. It offers, first of all, stability to save deposits.
Basic information
To get started, in order to open an account with a Swiss financial institution, it is worth studying the following aspects:
- can you, as a citizen who does not always arrive in Switzerland, open an account in a Swiss bank;
- can you open an account in Switzerland to pay real estate expenses;
- how long it will take to open an account with a Swiss financial institution;
- Do you need to deposit any amount of finance into the account? If so, what are the amounts of such contribution;
- whether it is possible to open an account in a Swiss financial institution via the Internet, mail, cellular, e-mail or fax;
- do you have documents available that a financial institution may require when opening an account with a Swiss financial institution;
- will it be possible to open a bank account in Switzerland in foreign currency- euros or dollars;
- whether the opening of an account with a Swiss financial institution will be kept confidential;
- what is the savings guarantee financial resources in an account with a Swiss financial institution;
- whether the method will use a credit card that is associated with the billing;
- what is the price for the provision of services for opening an account in a Swiss financial institution;
- whether they will pay profit on the amount of the contribution;
- whether you can close an account with a Swiss financial institution at your convenience.
What it is
A deposit is the process of transferring the depositor's funds to the bank at interest with their return after a certain time or at the request of the client.
By investing money in a bank, you begin to make a profit from them. The Swiss National Bank is the central financial institution of Switzerland.
Contact information (official site)
If you know a foreign language, you can go to the official website of the Swiss National Bank https://www.snb.ch, and get acquainted with the information.
You can also use the services of financial institutions to issue accounts:
- UBS AG (Union Bank of Switzerland);
- Credit Suisse Group;
- Raiffeisen Group.
Regulatory regulation
Swiss financial institutions conduct their activities in accordance with regulatory documentation, namely:
According to Swiss law, banks have dormant accounts, deposits are considered as such if the correspondence has ceased to reach the addressee, and if the bank has learned about the death of the depositor.
How to make a deposit in a Swiss bank
The first thing to remember is that Swiss financial institutions use a system of very strict rules regarding opening accounts, regardless of the location of the client.
Due diligence laws in Switzerland require a financial institution to verify the identity of an individual against an official document.
If the Swiss financial institution you are interested in has a subsidiary, branch or representative office in the territory where you live, then such verification can be done at your place.
If the financial institution is not represented, you must personally contact the financial institution in Switzerland or establish contact with an intermediary financial institution so that they can help you arrange an audience with Swiss bankers and provide you with all the additional information you need.
All the necessary information on how to open an account with a Swiss financial institution should be obtained from intermediaries that provide such services, or contact the Swiss financial institution directly.
What conditions are offered
Conditions provided by the financial institution:
- a way to open an account in Swiss francs (CHF), euros (EUR), dollars (USD), British pounds sterling (GBP) and yuan;
- responsible storage of account information;
- secure storage of finances;
- advantage of using credit card related to the issuance of an account;
- payment of profit according to the amount of the contribution;
- the ability to close the account on demand.
Required documents
To open a deposit account with a bank in Switzerland, you will need a passport, identification card or other identification document.
Moreover, the bank has the right to demand a document on the source of income. This may be a certificate from the place of work, or from the tax service.
Also, a banking organization may request documents on the origin of funds - an agreement on the sale of valuables, real estate, etc.
In addition, the bank checks whether the tax has been paid on the deposited money. Banks try to check customers as much as possible, especially new ones.
Sometimes other documents may be required (at the discretion of the organization). It is worth pointing out that from year to year, credit structures show more stringent requests for the composition of the package of documents.
Can I apply online
Majority banking organizations provides an opportunity to open an account in electronic format. For example, to make a deposit in the Swiss Forex Bank, you need:
- Register on the bank's website and receive documents for opening an account.
- Fill out the agreement and sign it, then send it to the bank branch in Geneva. Certified copies of documents must be sent along with the agreement.
- Deposit money and get a username and password.
Some banks may also request original documents. The account is opened within 1-7 days after receiving the documents.
About deposits in Svyaznoy Bank, read here.
How much does the service cost
Opening a bank account in Switzerland is free. And here is his service, Bank operations, correspondence require payment.
The amount of the fee is set by the bank itself, there is a significant difference between different banks. Alas, in some cases, the cost of maintenance may exceed the amount of expected interest.
Greetings! I am sure that you need to set yourself life goals that are exceptionally large-scale and ambitious. By the way, many psychologists say that this is the only way to achieve real success!
Therefore, today I will talk about how to open a Swiss bank account for a Russian citizen. Agree, such a goal certainly falls under the definition of "large-scale and ambitious."
Imagine for a second that you do not know where to put the extra $500,000. And the first thing that comes to mind is a reliable Swiss bank!
Can a Russian citizen open such an account?
It is possible, but the procedure will differ from that intended for citizens of Switzerland (or Russians who have a residence permit in the country of "banks and chocolate").
At a minimum, you will need to prove the source of capital. Well, of course, representatives of the Swiss credit institution will check the identity of the client almost under a microscope.
Are there any restrictions on the minimum deposit amount?
Individuals residing outside of Switzerland (including Russians) can open a deposit here by depositing an amount from 300,000 to 500,000 Swiss francs. For reference: on November 19, 2015, the CHF/RUB exchange rate was 63.8 rubles.
By the way, because of the crisis in Russia, almost all of them raised the minimum amount of "entry" for our compatriots.
Can I open a deposit remotely?
In many Swiss banks it is possible to open an account via the Internet, fax or telephone. However, an individual will still have to provide the office with the originals of all documents. The easiest way is to do it personally (you will have to go to Switzerland) or through Russian intermediaries (meeting with a representative within Russia).
What documents are required to open an account?
Firstly, a foreign passport, an identification card or some other official identification document.
Secondly, a document on the origin of the money that is deposited into the account. The amount to open an account is considerable, so a certificate of income of 30,000 rubles will not work here.
Ideal option: legal business, inheritance or capital from the sale of real estate.
In what currency can I open an account?
In the national Swiss currency, as well as in euros, US dollars and British pounds. They say it will be soon.
Are deposits in Switzerland protected by bank secrecy?
Such a concept as banking secrecy is enshrined at the legislative level. Both former and current employees of Swiss banks are criminally liable for disclosing confidential information about their clients!
By the way, the attitude towards citizens of the countries of the former USSR is exactly the same as towards clients from other countries.
Why are they considered so reliable?
“Safe as in a Swiss bank” is not just a catch phrase. The fact is that it is in Switzerland that the stability of the banking system is very strictly protected by law.
After the reforms, the country ranks first in the world in terms of the requirements for the size of own reserves of large financial institutions. Perhaps it is precisely because of this that the country survived the last financial crisis almost painlessly (unlike their counterparts from the US and Europe).
Swiss banks offer a lot of capital guarantees. For example, cash, securities and precious metals that are stored in safes remain the property of their owners in case of bankruptcy. And they return to them at the first request!
How to open a deposit in a Swiss bank in Russia?
I don’t know how it is in other cities, but intermediaries are already working in Moscow to help bankers from Switzerland and large Russian investors find each other.
Such offices:
- Organize meetings with Swiss bankers in Russia
- Assist with all necessary paperwork
- Advising clients on investment and financial planning
- Opening Swiss bank accounts and facilitating a Platinum Card or Mortgage for the purchase of real estate in Switzerland
It is clear that such mediation will have to pay a lot. The procedure for opening a deposit through an intermediary in Russia looks something like this:
- You send a letter to the intermediary requesting information about its partner banks (for example, Syz Co, Bank de Commerce at de placement or Corner). When choosing a bank, we take into account its reliability rating, capital adequacy level, interest rate and service fees.
- Send a brief information about yourself to the intermediary. The most important point is confirmation of the legality of the origin of funds. You will need copies of real estate purchase and sale agreements, tax returns, bank statements.
- Arrange a meeting with a private Swiss banker in Russia if it is not possible to personally visit an institution in Switzerland.
- If everything is OK, you will receive a confirmation letter about opening an account with details. After that, the money must be transferred to Switzerland through one of the Russian banks (required by our legislation). In addition, you must notify the local tax office of opening an account.
- After crediting money to your account, you just have to form an investment package (buy shares, funds, precious metals) or simply leave money on your account at a minimum interest rate.
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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, in view of which customers can choose the most favorable conditions for themselves.
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 of the client, translation of documents and forms into a language understandable to the customer of the invoice.
Requirements for opening a Swiss bank account
Each bank has its own requirements for investors, which is why it is impossible to list a specific and complete list of services. 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 draw up bank documents, bring all the 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.
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