Bank account in Switzerland

The optimal choice for initiating a Swiss bank account (streamlined process and competitive service fees):

• CIM Banque
• Julius Baer&Co. LTD
• Falcon Private Bank Ltd.
• Bank Vontobel AG
• Banque Internationale in Luxembourg
• BSI AG
• Credit Suisse

• USB
• Swiss post office
• Raiffeisen
• cantonal banks
• Post bank
• Migros bank

Important! For non-residents, some banks set a small bank contribution of 500 euros, depending on the bank.

Can one initiate an account online?

• In Switzerland, the advancement of online banking allows for the submission of account opening documents via the internet, albeit with the future necessity of presenting original documents.

Who is eligible to commence a Swiss bank account?

• Swiss banks extend their services to foreign residents.
• Accounts can be established in Swiss francs or other currencies.
• Each bank stipulates a minimum deposit requisite for account commencement, necessitating compatibility with the available funds.

What documentation is mandatory?

• Identity verification through an official document, typically a passport, is a prerequisite at all banks.
• If personal attendance for the account opening in Switzerland is unfeasible, mail-based processes are permissible, requiring a notarized copy of the passport.
• In adherence to regulations, Swiss banks are prohibited from accepting funds under suspicion or derived from illicit activities. Hence, documentary evidence validating fund sources is mandatory during account initiation.
• Acceptable proof may include a bank statement verifying salary or documentation corroborating property sales.

For those interested in initiating a business bank account in Switzerland, our team at Regulated United Europe stands ready to provide assistance. Leveraging our expansive network of reputable partners in the European financial services sector, we offer tailored, cost-effective solutions aimed at enhancing the operational efficiency of the businesses under our care.

7 advantages of opening an account in Switzerland

The word “Switzerland” for many people is almost synonymous with the word “Reliability”. As a rule, the task of opening an account in Switzerland, even independently, even with professional help, appears simultaneously with understanding why it is necessary. If the latter is not yet available, then our article will help you.

It is an amazing fact that being between large and powerful states, and having practically no natural resources of its own, the country was able to become one of the most prosperous in the world. This was made possible thanks to competent public administration and investments in the following sectors of the economy:

• Mechanical engineering;
• Watch industry;
• Agricultural industry;
• Energy;
• Education and the labor market;

We will not dwell on each in detail, we will only note the fact that, it would seem, even such a trifle as chocolate or watches make a significant contribution to the development of the country. And this is not accidental, because 95% of all watches produced are exported outside the country, and chocolate is valued all over the world.

The banking sector is also the hallmark of the jurisdiction. Having decided to open a deposit, get a bank card or open another product, you can count on the following 7 advantages:

• Stability of the banking system;
• High level of service;
• Very strict observance of bank secrecy;
• Minimal financial risks;
• The possibility of opening multi-currency accounts, including in rubles;
• Individual approach to each client of the bank;

A wide selection of banking institutions with a long history and high status in the international arena.

Behind all this beautiful picture there is one depressing fact – if you are a foreigner who does not have a residence permit in Europe, or you own a foreign company offshore, for example in the UAE, then not all banks will open their doors to you.

To what extent is confidentiality respected in Swiss banks?

Employees of Swiss banks are prohibited from disclosing any information about their clients’ accounts.

This secret is the foundation of the success of the Swiss banking industry, so you can be sure of absolute confidentiality.

It should be noted, however, that in recent years several agreements have been signed between Switzerland and countries, including the USA, Germany and the UK, to combat tax evasion.

This means that, although Switzerland fiercely protects privacy, in some cases banks are obliged to cooperate with foreign authorities.

How do I open an anonymous account?

In fact, there is no such thing as a completely anonymous account in Switzerland, the bank is obliged to confirm your identity before opening an account.

However, if you are looking for a bank with the highest level of confidentiality, you will be interested in opening a numbered account.

You will still need to present your identity document, but transactions on your account will be identified not with your name, but with your account number.

If you wish to open a business bank account in Switzerland, our team here at Regulated United Europe will be delighted to assist you. We have eight years of experience in helping clients to open bank accounts in Europe. We tap into our vast network of trusted partners in the European financial services industry to offer the most suitable and cost-effective solutions that improve the functioning of the businesses we serve.

Bank account opening in Switzerland

2,000 EUR

Requirements to open account in Switzerland

Switzerland has long been considered one of the most reliable and secure financial centres in the world. Due to its strict privacy policy and high level of banking services, Swiss banks attract many foreign clients wishing to open accounts here. However, the process of opening an account in Switzerland is subject to strict regulations and requires careful compliance with all rules and conditions.

Basic requirements for opening a bank account in Switzerland

1. Personal identification: All customers must present a valid passport or other official identification document. For citizens of some countries, a visa or other documents confirming the legality of stay abroad may be required.
2. Proof of address: The client must provide proof of residence address. This can be a utility bill, a bank statement or an official letter from the authorities, not older than three months.
3. Origin of funds: Swiss banks strictly enforce AML (anti-money laundering) policies and require customers to provide information on the origin of funds. This may include salary statements, property sales, inheritance or other sources of income.
4. Minimum balance and fees: Many Swiss banks require customers to maintain a minimum account balance, which can range from several thousand to several million Swiss francs. In addition, account opening and maintenance fees may be charged.
5. Personal presence: While some banks may allow the initial steps of the process online, often the customer’s personal presence at the bank is required to complete the account opening.
6. Bank Interview: As part of the KYC (know your customer) process, many banks conduct personal interviews with potential customers to better understand their financial needs and goals.

Additional considerations

• Tax information: Clients opening an account in Switzerland should be prepared to provide information about their tax status, including their country’s tax identification number (TIN).
• Consultation with a financial advisor: It is advisable to consult a professional financial advisor or lawyer, especially for large investment amounts or if sources of funds or tax issues are complex.

Conclusion: Opening a bank account in Switzerland remains an attractive option for many foreign investors due to its high level of banking security, stability and confidentiality. However, prospective clients should be prepared for the need to comply with strict requirements and procedures set by both Swiss and international regulators.