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Swiss banks: your account in Switzerland

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In principle, open a bank account in Switzerland can be any natural or legal person. However, banks reserve the right to refuse certain customers. For example, a bank can refuse to open an account so-called "politically engaged customers, who, according to the bank, can damage the reputation of the bank, acting as customers.

The Bank may also refuse to engage in banking relationships when there is doubt as to the origin of the prospective client. The legislation prohibits the Swiss banks to take money if they know or believe that such funds were obtained by criminal or unlawful means.

How can I open an account while in their country?

First of all, we must understand that Swiss banks have very strict rules regarding the opening of accounts, regardless of the location of the client. In accordance with Swiss law prescribing conduct "due diligence", the bank must verify the identity of the client on official documents such as passport. If you are interested in the Swiss bank has a subsidiary, branch or representative office in your country of residence, you can contact these agencies. If a bank in your country is not represented, you should immediately contact the bank in Switzerland, which will provide you require further information. We recommend that you contact our offices to obtain all necessary information before you decide to appeal directly to the bank.

Can I open a Swiss bank account via the Internet?

No, because technical and legal reasons, the client's identity could not be identified only on the Internet. Currently, banks in Switzerland must comply with established procedures for customer identification for opening an account by correspondence. Under the laws of the bank checks the customer's identity by obtaining a certified copy of an official identity document, such as passports, driving licenses, etc. A certified copy may be submitted to the branch, office or company in the banking group and a correspondent bank, a designated bank financial intermediary, a notary public or Consulate, generally performing such assurances. The Bank also checks the address of the new client in the course of correspondence.

What questions will the bank ask me?

First of all, the staff of the bank, of course, ask mandatory questions relating to the implementation of due diligence. You will be asked to confirm your identity and the identity of the beneficial owner of assets, if you invest money from someone else's name. Bank staff may also ask you about the origin of the money and the nature of your professional experience, will take place and the question of commonly committed by your financial transactions. Wanting to give you the best advice, the bank take an interest your plans for the future, such as those you are not going to buy a house, start their own businesses, etc. If you ask the bank to manage your investment portfolio, you will be asked a question of acceptable risk for you. In short, the more the bank knows about you, the best advice and services it can provide you with regard to your individual needs.

From what documentation the bank will want to read?

As mentioned above, Swiss banks are obliged to verify the identity of the client. For this reason, the bank always prefers to physically see their client and conduct an initial conversation with him. Bank definitely want to read the official documents as proof of identity such as valid passport or equivalent identification document with photo. The Bank may ask for documents proving the origin of your funds, for example, contract to sell the house, an excerpt of a foreign bank, a receipt from the sale of securities, etc.

Can I open an anonymous account?

None. The concept of "anonymous" account in Switzerland does not exist. In accordance with Swiss law, the bank must know the identity of his client. Anonymous accounts at Swiss banks exist only in the imagination of thriller writers!

What is a "numbered" accounts?

The procedure for opening "numbered" account is the same as any other accounts. Bank is required to verify your identity and the identity of the beneficial owner. "Numbered" accounts, of course, not anonymous! If your company has a "numbered" account at the bank, all transactions are not held on behalf of the company and replaced with a code or number. This order is a domestic security measure to ensure that your identity was known to only a small group of employees of the bank - except this "numbered" account does not give any other privilege of confidentiality.

Do you need any minimum deposit to open an account?

Most of the major Swiss banks are required to make a minimum deposit for opening a current or savings account. If you order a full-service deposit containers for graphical symbolic and is only 2-3 thousand euros.

Whether the account is opened in Swiss Francs?

None. Swiss banks offer open accounts in U.S. dollars, euros and other currencies and in Swiss francs.

How great is the interest paid by the bank on my contributions?

The rate of interest you receive will depend on market conditions, which determines interest rates in general, and the type you open a bank account. Please remember that any being in the Swiss financial institution paying the interest or dividends are required by law to withhold income tax at a rate of 35%. Swiss taxpayers are taxed at the place of receipt of funds. Foreigners can claim compensation for the tax paid, if the country they are located has entered into an agreement with Switzerland for the avoidance of double taxation.

How safe are Swiss banks?

All banks operating in Switzerland must obtain a license of the Swiss Federal Banking Commission (SFBC). This Commission is a member of the Basel Committee on Banking Supervision, and regulates and supervises all banks in Shvetsarii in accordance with the standards of the Basel Committee. These standards cover not only the size of the share capital and liquidity, but also all the other issues of banks in general. As an additional security measure, Swiss law requires even higher standards than the standards required under the Basel Accord. Therefore, the Swiss banks, of course, can be considered among the safest in the world.

As Swiss banks keep banking secrecy?

Switzerland has traditionally attached great importance to privacy relationships with clients, including financial relationships. Conducted surveys consistently show that the overwhelming majority of Swiss want to keep the status quo in this matter. However, what would be a high degree of confidentiality offered by Swiss banks to their domestic or foreign customers, it still is not absolute and without any doubt, do not protect criminals. Confidential information on the status of client accounts in the Swiss bank may only be disclosed by the competent court in Switzerland