Why is it profitable to open an account with a Swiss bank?
Switzerland is a sovereign state located at the junction of western, central and southern Europe. The Republic includes 26 cantons and is one of the richest and most developed countries in the world, which makes it profitable to open a Swiss bank account in 2020.
Swiss banking system
The state banking system plays an important role in the economy and is considered one of the most significant systems in the world. It is regulated by FINMA. In 2018, more than 240 authorized banks operated in the country. The largest financial organizations are USB and Credit Suisse.
The legislation of the country ensures the preservation of the anonymity of data users of bank services. In addition to the classic accounts, the banks of the country offer users of services number accounts, which have an additional degree of confidentiality. Information about such accounts is available to senior management of the bank; complete anonymity of accounts is not provided by the law.
The authorities take measures to combat money laundering through the country's banking system. According to the laws, there are requirements to identify the owner of the account. In case of suspicious transactions, the violation is reported to the appropriate authorities. The Swiss authorities cooperate actively with organizations to combat money-laundering and other transactions prohibited by the law.
The advantages of opening a Swiss bank account
There are several advantages to opening a bank account in Switzerland. The main advantage is that banks provide a high level of confidentiality, especially if a person receives a residence permit in the country.
Other advantages of opening a bank account are the following:
- The possibility of investing, online trading in international financial instruments;
- The possibility of creating a universal multicurrency account;
- Reliability of the country's banking system, absence of economic and political risks;
- The respectability of banks and a high level of assets protection;
- Online access to all transactions with money and financial instruments.
To open an account, you will need to select a bank, fill out a number of documents, and send them to a financial institution. It is difficult to register an account yourself, as not all banks cooperate with non-residents and allow them to open an account remotely. To get answers to your questions about creating an account abroad, please contact our specialists at IT-OFFSHORE.
Top Swiss banks to open an account
One of the banks where you can open an account is AP Anlage & Privatbank AG. The institution was founded in 1995. The staff at the bank is English-speaking, but there are also employees who speak Russian. No recommendations are required to open an account. It is possible to open a personal, current, and investment account. An obligatory condition is to visit the bank.
BNP Paribas is an alternative option for opening an account. The organization was founded in 1872. The bank has a staff that speaks Russian. It is possible to create a personal and corporate accounts. Openin an account requires traveling to the bank. Another opportunity to create an account is to wait for the visit of the bank representative in Moscow.
You can open an account at C.I.M Bank. This is a private financial institution, where you can open both a personal and corporate multi-currency account. The bank has managers who speak Russian. It is not necessary to visit the bank, given that the opening procedure can be done remotely.
It is possible to register an account with BCGE. The bank was founded in 1934. There is a staff serving in English, German and French. It is possible to open private, corporate and investment accounts.
It is possible to create an account in CBH. The bank was founded in 1975. The institution employs staff who speak Russian, English and German languages. It is possible to open a personal, corporate, savings or current account.