Open A Swiss Bank Account


 

Many people are eager to open a Swiss Bank Account when they learn of all the advantages one gets while owning one.  With this thought in mind, we have put together some information regarding what you can expect when you open a Swiss Bank Account: 

 

1.  Like opening any financial account, you will have to provide some documentation. 

This documentation will vary depending on the bank; however, this will usually require a copy of your passport, driverís license and potentially a utility bill to indicate who you are and your home country.  In addition, you will likely have to provide some records of your earnings over the past few years.  This is requested to ensure the money has been earned through legitimate means and is used as a protection against money laundering.  Beyond these types of documentation; however, very little else is needed. 

 

2.  You can open the account in several different ways. 

Of course, you can open a Swiss Bank Account in person; however, more and more people are opting to open their accounts from abroad.  This can be done through the mail, internet or fax.  It can even be done through a conduit where you hire a firm in Switzerland to open the account for you.  All these different options have their pros and cons so weight each one based on your own needs and timetable. 

 

4.  Expect to have to pay several thousand dollars in a minimum deposit. 

Most Swiss banks will require anywhere from $4,000 to $6,000 as a minimum deposit to open the account.  Although some Swiss banks offer some bank accounts for smaller minimum amounts, we recommend you avoid these and stick with the larger minimum balance ones because they tend to provide more services.  One of the best advantages of a Swiss bank account is taking advantage of foreign investments through offshore investing.  Finally, if you have your heart set on a numbered bank account, recognize the minimum balance will jump up to at least $95,000 or more. 

 

By keeping these tips in mind, you will find that to open a Swiss bank account is really a straight forward process.  Plus, after the initial work is complete, you will be free to enjoy all of the advantages of offshore investing.