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Banking System in Switzerland

The banking system in Switzerland is known all over the world for its very discreet and sophisticated banking services. The UBS and Credit Suisse, the two largest Swiss banks, are considered among the world’s leading banks. Swiss banks are considered as leaders in private banking and asset management, and Switzerland is home to hundreds of international banks, private banks and investment groups. Many of the Swiss banks are investment banks, which specialize entirely on wealth management and cater to rich investors.

The Swiss Bank Secrecy

The Swiss Bank secrecy or banking privacy is strictly implemented to protect the privacy of the bank clients. According to the Banking Law of 1934, it is a criminal act for any Swiss bank to reveal the name of a particular account holder. However, this bank secrecy is not really absolute and judges can issue a lifting order for authorities to access bank information that could be relevant in their criminal investigation.

When opening an account with a Swiss bank, they will perform compliance checks to see if you do not have any illegal businesses or operations. If the bank finds out that a client is suspected of having illegal activities, a Swiss judge or prosecutor may allow an investigation.

The Dismantling of the Swiss Bank Secrecy

In 2010, Swiss banks employing secrecy to help foreign clients to evade paying taxes in their own countries was discontinued. The catalyst for the dismantling of the Swiss Bank secrecy was the US-Swiss tax evasion battle, which pressured Finance Minister Widmer-Schulmpf. When the Swiss banks gave in to the demands of the US to release bank client data, other European nations also want the same treatment.

Switzerland also signed up to the global automatic exchange of tax information system, which allows for additional data sharing with other countries. This further brought down the Swiss Bank secrecy that was strictly upheld for many years.

Investing in Swiss Bank

When you invest in a Swiss Bank, it will be under the Swiss law. If the Swiss Bank is a branch located in another country, it will be bound by both the Swiss law and the local law. The investment accounts offered are available in multiple currencies such as US Dollars, Euro and Swiss Francs.

Shell company, bank account and legal certainty in Switzerland – a strong trio

Need a secure bank account in Switzerland? Look for a stable, established and secure environment for your business? One of our Swiss shell companies is the best solution for you! Switzerland is a highly respected country, politically stable and free of corruption. A Swiss bank account is prestige and credit rating characteristics of an entrepreneur. There are different types of Swiss bank accounts and their requirements and privilege, contact us, we will help you!

Acquisition of Companies

There are many advantages of the Swiss Banks in relation to the acquisition of companies. There are different types of companies that can undergo acquisition and these include:

  • Joint stock companies – Capital companies that has suspended their operational activities. It is easy to acquire this type of company because it is registered in the Register of Enterprises and ready to be purchased.
  • Newly founded joint stock companies – Sold to third parties without any activities performed and they don’t have credit history. These companies are also registered in the Register of Enterprises.
  • Limited liability companies – These companies are already existent but inactive. It is a good alternative to founding a new company.

The benefits of acquisition of companies in Switzerland include:

  • Free from any debts and without any liabilities towards third parties
  • Companies have impeccable credit history
  • Companies already exist, which means no founders are necessary
  • You can change the name, location and operational object of the company
  • The fixed capital in the amount of CHF 100,000 is not required since the company is already founded

Do you have any questions about any of these topics? Contact us without obligation