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