The term “Swiss Bank Account” sounds familiar, right?
You might have heard the same over several times in daily life. Often, it is projected that a Swiss bank is held by big-shots like actors, high-net-worth -individuals, business people, etc.
The concept of holding a Swiss bank account is accepted globally and holds high prestige. Most of the individuals prefer to hold a Swiss bank account as they can enjoy tax benefits.
It is well-known that every individual need to pay income tax to the respective government of the specific country. For example, if you earn a considerable sum of money, it is understood that you need to pay a handsome tax amount.
The concept of Swiss banking account falls under the category of Offshore Banking as it allows the business investors to enjoy numerous tax and investment options.
If you are one among them or want to preserve your wealth, then opening a Swiss bank account in an offshore jurisdiction can be your ultimate solution. This guide highlights the core reasons of opening a Swiss bank account that one must know before proceeding.
1.Stable and Secured Offshore Jurisdiction
Switzerland is a highly-reputed ground when it comes to offshore business incorporation. Since years, there are various grounds why the jurisdiction has turn out to be a favorable option.
The business investors hold the flexibility to open a Swiss bank account separately, or can proceed with along with company incorporation. Here’s a guide on Benefits of Switzerland Company Formation with Bank Account.
2.High-end Asset Protection
The ground of Switzerland holds the most reliable data protection in the world, thus, making asset protection a favorable option.
Business owners and investors find Swiss bank accounts extremely helpful when it comes to asset protection.
Just like offshore banking, even incorporation of trust companies in the offshore jurisdiction benefits asset protection. Here’s a guide on the Asset Protection Strategies for Offshore Trust.
3.Flexibility to Diversify Currency
Currency diversification is another benefit that the Swiss bank account holders can get by opening a Swiss bank account. Holding foreign currencies help business professionals to diversify their investment portfolio.
After opening an online offshore bank in Switzerland, one can operate the activities online.
4.High-end Banking Secrecy and Privacy
One of the core reasons for proceeding for a Swiss bank account is the high level of privacy that it holds. This stands as one of the standard features among the tax-havens that makes it very business-friendly, thus, attracts business investors.
Most of the time, entrepreneurs in South America prefer to proceed ahead with the offshore business incorporation, financial kidnapping being one of the core reasons.
Business investors and high-paid individuals in the Gulf countries also prefer to proceed ahead with offshore banking in Switzerland.
5.An International Reputation
As mentioned earlier, holding a Swiss bank account enhances the account holder’s prestige. Even the Swiss bank offers Mastercard and American Express cards to the account holders, which is much higher than VISA.
Multiple benefits are offered by the card that allows the holders to enjoy them at ease, provided they have to earn a minimum of one million USD per year.
6.A Door to International Business
Investment in international business leads to higher profits if done wisely. Any individual who holds the idea to capture the international market prefers to proceed towards holding a Swiss bank account as it helps the business investors to invest in diversified regions.
Thus, you have seen the core grounds of holding a Swiss Bank Account as it provides multiple benefits.
Now, opening a bank account involves a series of steps starting from clearing the documentation to obtaining the offshore bank license.
If you are a foreign individual who has got no knowledge regarding the opening of a Swiss bank account, then it will be a problem for you to understand the crucial steps.
Working with a business consultant delivers high and speedy results as they are well-versed with the relevant proceedings. Here’s a guide on the Core Reasons for Hiring an Offshore Business Consultant who can help you do swiftly deal with the process.
Business Setup Worldwide has been consistently performing as one of the top business consultants in the UAE, who has been helping numerous business investors and individuals to open their offshore and onshore business (Here’s the difference between onshore and offshore business).
Our banking experts are well-versed with the Swiss Bank Account opening process and can guide you accordingly, at every move.
To open a Swiss bank account today, feel free to have a word with our experts.
Contact us today-we’d be glad to assist.