COREDO > Opening bank accounts > SWITZERLAND

SWITZERLAND

Reliable banks, accurate watches and political neutrality are the features that Switzerland has long deserved. This is one of the most developed and prosperous countries in Europe. The country is not part of the European Union, yet it is one of the world’s largest financial centres and a prestigious jurisdiction for opening bank accounts. The Swiss banking secrecy is legislated and ensured by a stable banking system that protects the financial assets and capital of the account holders.

At the same time, it cannot be said that opening a bank account in this country is easy to do. Banks have stringent requirements for the customers, in particular minimum account balance, which in some cases may reach $1 million.

The best-known and most loyal banks are C.I.M. Bank, Credit Suisse, Clariden Leu Bank, UBS AG, Julius Bank, Falcon Private Bank Ltd and BSI AG. You can open the following types of accounts in Swiss banks:

current accounts, which are not subject to interest income and serves solely for the safekeeping of funds;
custodial accounts, which are regarded as the safest way of storing funds for both private persons and legal entities;
savings accounts, which serve as the means of earning profit from the invested funds, and the value of the interest surcharge depends on the amount invested and the term of its storage.

ADVANTAGES OF OPENING A BANK ACCOUNT IN SWITZERLAND

The main advantages of opening an account in a Swiss bank, along with complete confidentiality, are:

wide investment opportunities;
multicurrency;
high level of service.

ACCOUNT OPENING PROCEDURE IN SWITZERLAND

Our company is ready to provide you with effective assistance in the matter of opening an account in Switzerland. We provide this service in a comprehensive manner, starting with advice and preparation of a complete set of documents and ending with obtaining the supporting documents for the account opening and handing them over to the applicant.

The process of verification by a banking institution and the opening of an account takes approximately 1 month. It all depends on the requirements of the chosen bank.

Please contact us if you ever need to open an account in Switzerland. Our specialists have extensive experience in working with local banks and are ready to help in choosing the proper bank for your business as well as assist in preparing the necessary documents.

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