Open a bank account in Switzerland in 2020

Open a bank account in Switzerland in 2020

Many businesspeople strive to open a bank account in Switzerland in 2020, as the jurisdiction is respectable, has a high level of confidentiality for account holders, and there are many banks where it is profitable to keep funds.

Features of an account in Switzerland

A bank account in Switzerland in 2020 can be opened by anyone in one of the country's financial institutions. An account is identified by its account number, not by first and last name, in order to protect the confidentiality of the user.

Banks in the country offer their customers debit cards, credit cards and cheques. The country is politically and economically stable and has a strong economy. As a result, foreign entrepreneurs often open accounts in this jurisdiction.

The smallest deposit amounts usually range within a few thousand dollars. The conditions for clients are individual and vary depending on the chosen bank. You can learn more about the features of creating an account from our specialists at IT-OFFSHORE.

Account opening procedure

Before creating an account, it is necessary to prepare documents confirming the legality of the sources of money origin. Due to increased control, the process of user verification has become the longest.

Before opening an account, you need to familiarize yourself with the bank's proposals and to determine which of them work with the citizens of your country. After that, you need to contact this bank and to clarify what documents are required. An application to open an account is being drawn up.

You will need documentation to prove your identity, origin of money, recommendations, etc. Many banks require a personal visit.

The pros and cons of opening an account

There are several advantages of opening an account in a bank of the country. Many companies and individuals open accounts in Switzerland, given that anonymity, high confidentiality and asset protection are ensured.

The main advantages are the following:

  • Jurisdiction is reliable and respectable;
  • Bank secrecy is observed;
  • Services are provided at a high level;
  • A wide range of bank products is offered;
  • There is a wide choice of financial organizations in the country.

The disadvantage of opening an account is that it may be difficult to create one yourself. Some banks offer expensive services; financial institutions often request a large amount of documentation.

Top 5 banks

AP Anlage & Privatbank AG is one of the banks where it is profitable to open an account. The bank started its work in 1995. The advantage of cooperation with the bank is that online banking is among he best ones worldwide, and it is possible to open an online account. Any operations related to finance can be performed remotely. It is possible to create a multi-currency or current account, deposit, get a debit card or take a loan.

An alternative option is BNP Paribas. You can open investment and savings accounts in dollars or euros in the institution, or get a plastic card. It is possible to manage an account remotely.

In CIM Bank it is possible to create both private and corporate accounts, including for foreigners and non-residents. The institution employs specialists who speak Russian. Private and corporate accounts, loans, investment products are all available. It is possible to open a multi-currency account.

UBS Bank has offices in many countries and works with private and corporate clients. It is possible to open a current, savings, stock, or deposit account. The bank requires information on income for the last ten years, as well as information on real estate and other assets.

Credit Suisse Bank has several hundred branches all over the world. The institution specializes in opening savings accounts, but it is possible to create a current account.

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