Any wealthy investor will tell you that one of the biggest tools of success is opening an offshore bank account. Numerous benefits come with having an account in a jurisdiction outside of your home country. One of the most attractive banking jurisdictions in the world is Switzerland, due to its stable economy and favorable banking laws.

Continue reading to discover how an offshore bank account in Switzerland can benefit you and read about some of our Swiss partners.

Why Switzerland?

Switzerland is one of the wealthiest nations in Western Europe and has nearly the highest GDP per Capita in the region. A lack of national deficit indeed proves the strength of the country’s economy. The Swiss income exceeds its expenses, so a self-reliant economy fully backs the currency. Unemployment is low, and the per capita income is high. Not only are the citizens of Switzerland happy with the economy, but many wealthy investors are also moving their wealth here to take advantage of economic security.

Offshore banking is not just for those who do not live in a country with untrustworthy economies. Even those living in first-class nations hold Swiss banking to a higher degree than others. A robust and safe economy is probably the first thing a person will look for when deciding on their offshore location.

Confidentiality is another leading factor for those looking in Switzerland. Similar to the expectations of doctor/patient confidentiality, Swiss bank laws forbid bankers to disclose that someone even holds a bank account or any information about it without the consent of the account holder. If a bank does give out personal information without permission, laws require that immediate prosecution begins.

It is not necessarily challenging to open a bank account if you are well prepared. It will, however, take between one and two weeks with the help of Alpen Partners . Opening a bank account in Switzerland is not hard; it just may take some time. Along with a minimum deposit, which is typically at least $100,00, applicants will be asked to provide a valid passport, various documents about your financial history and income, and documents proving that all supplied information is accurate.

How to Open a Swiss Bank Account

  • Find out if you are eligible

Swiss banks are serious about ensuring accounts held by non-residents are not used to take advantage of for the use of illegal activity. Banks will ask for thorough verification to make sure you are eligible to hold an account offshore.

Some banks may reject an individual for being a politically exposed person, someone who has been involved in a scandal or has a well known negative reputation. Further, there are some countries, such as Russia and Iraq, who are barred from opening a Swiss bank account for various reasons such as official embargoes, as is the case with the two examples.

  • Pick your bank

You will want to pick a bank that has the services to meet your needs. This includes educating yourself on the bank’s policies, investment opportunities, and their reputation. Alpen Partners can help you choosing the bank that fits your neeeds.

  • Choose the type of account that fits your needs

There are several different kinds of accounts an individual can open. When choosing the type of account, it is important to know what your goals for the account are and how much you want to place into the account. Every type of account requires an initial deposit and may have other qualifying factors.

  • Provide any necessary documents

When opening a bank account in Switzerland, the bank will require specific documentation that will prove who you are and your intentions with the potential account. This often includes a copy of your passport that is certified by an approved institution.

The bank may also ask for documents that prove the origin of your funds as Swiss banks will not accept funds that they know are suspect of may have been obtained through illegal activity. Examples include bank statements showing salary payments or documents from the sale of a property or asset.

If everything is approved, you have a Swiss bank account!

Meet Our Swiss Banking Partners

Are you curious about what banking in Switzerland can offer you? Our team is equipped to match you with the bank that exceeds your expectations. At Alpen Partners , we only entrust your money in the hands of the most prestigious and trustworthy banks.

We hold close relationships with the leading private and public Swiss banks:

Pictet– Pictet, established in 1805, is a leading European independent wealth and asset manager. This investment-led service company offers wealth management, asset management, and related services.

Julius Baer– This private banking group has locations in more than 20 countries with a head office in Zurich. Switzerland and Asia are the two locations in which the Julius Baer group does most of its business. Julius Baer offers a wide range of financial services and investment advice.

Vontobel– With Swiss roots and headquarters in Zurich, Vontobel is an international financial expert established in 1924. They specialize in wealth management and asset management for private clients and investors. They also work in investment banking

Safra Sarasin– J. Safra Sarasin is ready with high-level services and expertise as an investment advisor and asset manager for individuals and companies. The bank was also named the 2018 winner of the “Best Boutique Private Bank in the World” by Global Finance.

With the help of these private and public banks, Alpen Partners can provide you with all of your wealth and asset management needs – as well as any financial planning guidance.