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.