Swiss Bank Account

A Swiss Bank Account can be an excellent vehicle for global investing.  In addition, it can help better protect your assets and safeguard your money from creditors and lawsuits.  Switzerland offers over 400 different banks to choose from for an offshore Swiss bank account.  The three biggest include UBS, Credit Suisse, and Central Bank.  However, there are a number of other smaller banks which will vary in the number of different banking options they offer.  Some other tips and information to keep in mind are: 

1.   Be sure to monitor the news regarding possible privacy law changes. 

Monitor the news to determine if additional changes to Swiss banking laws are expected.  In the last 10 years, Switzerland has signed a number of agreements that have relaxed some privacy rights in certain instances.  Most of the time, these agreements have been made to help reduce money laundering, crime, and world terrorism.  However, if you are getting a Swiss Bank Account in large part for privacy, you want to watch these changes closely.  Already, two other offshore banking countries have taken advantage of these agreements by increasing the security of their own banking laws.  For investors who are looking for enhanced privacy, they should also consider Singapore and Panama. 

2.   Swiss Banks offer fairly competitive banking fees and normally offer higher returns than domestic banks. 

This is great news for investors who are looking for ways to get a little more money than they can get at home and are concerned about banking fees.  Swiss banks will offer you a competitive package which will rival most other offshore banks. 

3.   Swiss banks offer a great world currency and inflation hedge. 

Many investors use offshore bank accounts to diversify their own domestic currency against the risk of inflation.  The Swiss franc is a very good currency to use because it tends to have almost no inflation and is supported strongly by gold reserves.  However, you should be able to shift to other currencies as well.  This can be helpful as investor as you try to shift your money into the strongest currencies on the market.   

4.   Swiss banks offer beneficial tax advantages pending domestic rules and laws.   

Swiss bank accounts do not charge an inheritance tax or an income tax in most cases.  However, this advantage is often mitigated by the laws of many domestic countries.  The best advice here is to have your home country’s tax lawyer review your investment plans to see what taxes you may be possibly subject to.  In this way, you can get a concrete answer on what is your best strategy with tax considerations in mind.  

By keeping tips like these in mind, you should be better able to decide if a Swiss Bank Account is the right offshore investment option for you.  Remember the current global market offers many different offshore banking options.  Therefore, if a Swiss Bank Account turns out to be a bad option for you, do not be afraid to look around to other offshore banks as you are likely to find one to your satisfaction.