Many people want to open a bank account in Switzerland. Firstly, because there is a strict policy that doesn’t allow banks to reveal the account holders. Complete confidentiality and protection of the funds make it a very secure place. Let’s discover more about how to open a bank account in Switzerland as well as some peculiarities of the process.
A general overview of the account-opening process
First of all, a person needs to be over 18. If you are a citizen, this basically it. Foreigners also need to deliver extra information and documents like the source of funds, profession, tax return forms, professional licenses, etc. It’s very individual and depends on the kinds of bank account one needs.
To open bank account in a Swiss bank, a person has to deposit some money. The minimum balance also differs based on the kind of account.
The advantages of using a Swiss bank account
- Low financial risk and strong economy make it very alluring;
- The law also protects funds from financial crisis and conflict;
- Complete anonymity doesn’t let the bank reveal the client’s information (except the cases with serious suspicions).
How to open a Swiss bank account?
In case you don’t feel confident about your actions, you can read the Swiss Foundation blog and learn all you should know about the set of documents and other details concerning the matter. It has plenty of articles that describe in detail the legal side of the situation and help prepare all the needed papers. One can also consult the lawyer and do it with the help of any law firm that offers such kind of service.
The procedure is very simple and straightforward. However, it takes some time since all the documents are thoroughly checked. Other than that, the process is seamless.
Other peculiarities a person should know
Businesses that work on the Swiss market usually open Swiss bank accounts, too. It’s very convenient. Switzerland is an attractive investment destination. Lots of reasons strengthen this position and bring foreigners to the country. Yet, one should be alert and careful making big financial transactions.
In case you want to buy commodities, shares, real estate, or intellectual property here, it’s better to use escrow service or even de firm gründung-schweiz firma. They secure the transactions for both parties and guarantee the fulfillment of the agreement.
In this case, the company that offers escrow services acts as an intermediate and controls transaction. A special escrow account is opened. The depository transfers the documents, data, funds to this account and waits for the beneficiary to fulfill its part of the deal. Having a Swiss bank account can be helpful when making such deals in Switzerland.
All in all, opening a Swiss bank account is a way to secure funds and make business in Switzerland simpler. The criteria one needs to meet are quite basic. Yet, this account may open lots of doors and make investing in Switzerland or trading its stock easier.