Swiss bank in Moscow

Many believe that a Swiss bank can be interesting only to millionaires, officials or criminals who need to hide their illicitly obtained wealth. Or famous and public persons who do not want to advertise their income for one reason or another. But in fact an account in one of the banks of Switzerland can open every adult.

What is needed to open an account with a Swiss bank

Until quite recently, Russian citizens could make a contribution to a Swiss bank only after receiving a special permission from the Central Bank. The exception was only those citizens who temporarily lived abroad. But since 2003, Russians have the opportunity to open an account with Swiss banks regardless of their place of residence. Since this year, the Central Bank's Instruction No. 100-I "On the accounts of individuals-residents in banks outside the Russian Federation" began to work. According to it, they are entitled to open accounts with banks of foreign countries or branches located in the territory of the states included in the Organization for Economic Cooperation and Development.

In June 2004, a new law on currency regulation came into effect, thanks to which Russian citizens were able to use the depository services of banks of other countries. It is worth noting that you can open an account with a Swiss bank and keep money on it only by obtaining permission from the tax inspectorate at your place of residence.

For what purposes can you use the account in a Swiss bank

According to Instruction No. 100-I, a bank account for foreign countries can be opened for saving money. For purposes related to the implementation of entrepreneurial activities and business services, it is possible to use only the services of the Russian banks.

How to open an account with a Swiss bank

This can be done by any natural or legal person. Your account will be serviced almost in any currency of the world, although many prefer the euro, the US dollar, the Swiss franc or the British pound. In some banking institutions the account can be opened by mail. The bank will send you all the required receipts and conditions. In fact, the processes of opening an account in person or by mail are almost identical. The only difference is that when mailing the invoice you need to provide the bank copies of the documents with a notary.

An indicative list of data to be provided for opening an account in Switzerland

The Swiss bank requires the following information from its potential investors:

1. Personal data of the client, namely the name, first name, fatherland, address of residence, place and date of birth, nationality.
2. Data on the type of activity.
3. Copies of the first four pages of the passport.
4. Copies of the latest receipts for utility bills, on which your name is indicated. Receipts should also be notarized.
5. Documents confirming the source of funds on the account.

Where can I open an account in Switzerland

The Swiss bank offers its clients a wide range of services, whilst fully guaranteeing confidentiality. In every banking institution, however, there are specific features of opening an account. First of all, you need to decide for what purpose you are opening it. Choosing which bank to give preference to, you will in any case have to balance between the possibility of trust management of the account and confidentiality.

Banks in this country are guided by fairly strict rules regarding the procedure for opening accounts. If the Swiss bank you choose has a branch or subsidiary in Russia, then you should contact these institutions. If there is no representative office of this bank in Russia, then you need to contact the Swiss bank directly, which will direct the further direction of your actions.

How much does it cost to open an account with a Swiss banking institution?

To keep money in a Swiss bank, it is enough 350-550 dollars plus the amount of the initial deposit. Commissions of banks in this country are quite acceptable, and interest in Swiss banks is generally higher than in other countries. Accounts opened under the trust management system annually bring to the owner from 8 to 15% of the profit. For the convenience of control, many banks use technological innovations, in particular, investment strategies and Internet banking.

Quite often when opening an account, a minimum deposit threshold of $ 200,000 is established. But there are also banks that are ready to open active accounts with much smaller amounts. It also applies to bank charges and fees. The larger the contribution, the more flexible the conditions are offered by the bank regarding requirements and minimum restrictions. It is worth noting that any financial institution located in Switzerland, paying dividends and interest under the law, is required to withhold tax on income at a rate of 35%.

The tax is paid at the place of receipt of funds. Citizens of foreign countries have the right to demand compensation for the tax paid by them, if the country in which they are located has concluded an agreement with Switzerland on avoiding double taxation.

For what reasons you may be denied the account opening

In most cases, the Swiss bank accepts applications for opening an account, but there is a separate category of customers who are still refused. For example, a banking institution may not allow an account to be opened to persons who as customers may adversely affect the bank's reputation. Also, the opening of an account may be denied and in case of doubt about the truthfulness of information about the origin of the potential client's funds. The legislation of this country prohibits banks from accepting cash if they have learned or even just assumed that the money was received illegally or through criminal means. In many private banks, a recommendation or special invitation from the current client is required to open a depositary account.

Private Banking

The service "Private Banking" (Private Banking) is available to individuals who keep extremely large assets in the Swiss bank. This service is called private, as customers receive an individual, higher level of service than the one provided in a mass retail institution. As a rule, Private Banking is available to people who plan to make a contribution of one million dollars, but there are also private financial institutions that provide this service to customers who invest more modest amounts - 50-100 thousand dollars. Private Banking services include advisory information on the features of asset management, including investments and their planning and all sorts of tax measures. Many private financial institutions refuse to work with people without a special invitation from a person who is already their client. It should be noted that investment services are offered also by retail Swiss banks, but they are often far from the level that is noted in the service of private financial institutions.