Often in our daily lives, we might have heard the word “Swiss Bank”, which holds an image of prestige. The High-Net-Worth-Individuals highly preferred the concept of opening a Swiss bank account to secure their assets and wealth as it provides them tax-exemption benefits.
For ages, Switzerland is regarded as the “ground of financial secrecy” and has continuously proven itself one of the largest destinations for offshore banking.
This guide outlines the essential points essential for an investor to know who plans to start an offshore bank.
Offshore Banking Scenario in Switzerland
In the eighteenth century, offshore banking in Switzerland has grown to the next level through merchant trade. The banking industry in Switzerland is known for its high-end confidentiality.
Offshore banking is one of the booming industries that global business investors and owners have widely accepted.
Any investor who establishes an offshore company in any of the popular offshore jurisdictions prefers to proceed with a bank account in Switzerland.
Swiss banks offer the flexibility to the business investors to proceed ahead with a personal and corporate bank account.
An offshore bank account is often located outside the country of residence and the legal system. Here’s a guide to the advantages of offshore banking, which will help you understand the benefits that you can avail.
Financial Services Offered by Swiss Offshore Banks
As it has been stated that most of the business investors and high-net-worth-individuals prefer opting for Swiss bank accounts, let’s have a look at the few services that it offers:
- Multi-currency accounts and business transaction
- Flexibility to invest in the global market
- Flexibility to invest in precious metals
- Certificate of Deposit (CD)
- Interest-bearing accounts
- Internet Banking facility
- High-end confidentiality
Apart from the financial services provided by a Swiss bank, it also offers high-end confidentiality and high levels of discretion. The only exception to this law is in the case of a serious crime.
What are the Benefits of Opening an Offshore Swiss Bank Account?
Since investing in a Swiss bank is a core task, let’s look at the benefits you can make by opening one.
- High-end tax exemptions
- Safety and stability
- Access to the international investment market
- Deal with multiple currencies
How to Open a Swiss Offshore Bank Account?
When it comes to opening a Swiss Bank Account, one has to go through the following process:
1.Select a Business Consultant
The first task is to select a certified business consultant who is well-aware of the process and can help you open a bank account. Investors opted as it saves time, and the process gets carried out in a hassle-free way.
2.Provide the Relevant Business Proofs
In the next step, you need to make sure to submit the complete set of documents required to open an offshore Swiss bank account. Generally, the set includes:
- Duly filled offshore bank account opening form
- Identity proof of the business investors and shareholders
- Address proof of the business investors and shareholders
- Passport-size photos of business investors and shareholders
- Certificate of company incorporation
- Memorandum and Articles of Association
- Proof of income
3.Submission and Verification of the Documents Submitted
The set of documents are handed over to the concerned business advisor, who helps in obtaining the relevant business incorporation approvals.
It is worth noting that certified business experts have got a good connection with the government authorities that help them to carry out the processes at a faster pace.
4.Open a Bank Account
Finally, upon verification of the submitted documents, the Swiss offshore bank account will be opened accordingly.
The steps mentioned above clearly define the path one has to follow to open an offshore bank account in Switzerland. While proceeding ahead, it is recommended to proceed under the guidance of an expert because it will help you save your time and resources and utilize them in the best possible way.
Be it setting up a business in Switzerland or opening a corporate bank account, it is smart to proceed ahead with an expert.
At Business Setup Worldwide, we take care of the business incorporation proceedings by providing tailor-made solutions to our esteemed clients.
Our expert advisors are here with industry experience that will help you to establish your business within a short duration.
For more information on how to proceed, feel free to have a word with our experts.
Contact us today-we’d be glad to assist!