Swiss banks are famous among average people as places where millionaires and billionaires keep their money. If we have a sizable amount of money, it is a good idea to consider opening a Swiss bank account for specific savings and investment purposes. By keeping our money in Swiss bank accounts, we can get tax-free, totally confidential and strictly private financial container. In these banks, we should be able to earn interest in specific currency we wish to hold our accounts in, such as EUR, CHF and USD. If we want, we could also obtain traditional credit card. Clients of Swiss bank account usually come from diverse walks of life. They can be prosperous computer programmers, expatriates, sales experts and stocks investors. Swiss banks are useful if we want to gain financially and protect our cash in the event of inheritance and divorce.
In many Swiss banks, opening a bank account is free of charge and it should be quite easy to do. Foreigners who plan to open a Swiss bank account should prepare their Passports. We should provide clear documentation about what we do for a living, as well as tax returns, contract employment and current bank statement. This will inform the bank about the nature of our professional life. If we deposit fund from a major sale of our company, we should bring a proof of sale. In compliance with the anti-money laundering laws in Switzerland, clients are asked to provide complete personal information, as well as confirmation from local authorities where we currently reside. Our information will be kept in strict confidence to prevent misuse and identity theft.
Alternatively, we could ask the Swiss bank to provide a credit card. However, we will be asked to make security deposits, depending on the bank we choose. As an example, the deposit can be twice higher than our monthly credit limit. As an example, if our maximum monthly limit is $20,000; then we should provide at least $20,000 of security deposits. When we cancel our credit card and have paid any outstanding bills, the deposit will be returned to us. It should be noted that we can’t use the security deposit to pay our monthly credit card bills. When bills are sent to us, they should be paid separately. Although this may sound rather inconvenient, we pay the bills directly from our separate savings accounts.
In general, Swiss banks should provide us with many benefits. We would be able to safely keep money in these banks without being worried by changes in our own countries. Switzerland doesn’t significantly change banking rules in order to provide a sense of stability for many foreign clients. This has allowed the country to obtain billions of dollars of cash influx. For people who have $500,000 more, they should consider keeping their money in the Swiss bank, while they are travelling inside the beautiful Alpine country. Swiss will always provide excellent banking solutions for many international clients.