When choosing a financial jurisdiction to open an account for a foreign (offshore or onshore) company, you will definitely think about Switzerland. This is the world standard of quality, reliability, confidentiality of banking services.

 

 

If you think that opening a Swiss bank account is always  expensive for everyone, then you are mistaken. The country’s financial sector works in different directions and for different categories of clients. The structure of the banking system includes historical banks and boutique banks with exclusive offers and individual management of each client. But at the same time – and small banks with universal and democratic proposals.

 

Lawrange law firm, upon request, will select the best option for opening an account for your business. We work with a number of financial institutions in the country, providing comfortable solutions in the absence of significant participation on your part. Terms of opening an account – from 1 to 6 weeks.

 

 

Bank account in Switzerland – basic information

 

By opening a Swiss bank account, you provide reliable capital protection. The country has established itself as the world’s largest financial center due to political, legislative and economic stability. Banking secrecy is enshrined at the legislative level, and the quality of customer service is a guarantee of credibility in the international arena.

 

Can I open a Swiss bank account remotely? Yes.

Are there requirements for the minimum deposit, account balance? Yes.

What is the cost of opening an account in Switzerland? From €700.

 

Advantages of Opening a Swiss Bank Account

Having a Swiss bank account has many advantages. Of course, the main one can be considered a strong regulatory framework of the country, which guarantees the safety of invested funds. It is not superfluous to note the Swiss franc (CHF), which is a stable currency.

 

Privacy and confidentiality

The Swiss banking system is well known worldwide for its high level of privacy. After opening an account, the legislation of this jurisdiction prohibits banks from disclosing and transferring absolutely any information about the account to third parties without the written permission of the depositor.

 

This applies in all cases except for the obligations of Switzerland, which is a member of the Automatic Exchange of Information (AEOI). As soon as an account is opened, its details will be immediately passed on to the authorities of the client’s country of residence.

 

Asset protection

One of the most important advantages for entrepreneurs wishing to have an account in Switzerland is the possibility to store, receive, and withdraw funds in several currencies. Keeping assets in different currencies allows businesses to better manage potential risks and to expand their financial portfolio.

 

Stable economy

For entrepreneurs considering opening a company in Switzerland, the country’s stable economy and reliable banking infrastructure offer minimal financial risk. The country’s banks fully comply with all international standards. The jurisdiction’s legislation also regulates the provision by banks of reliable protection for their depositors.

 

Low-risk investments

Having an account in a bank of this jurisdiction opens access to various services, investment, and asset management, and also gives access to international markets, which allows diversifying investments.

 

High-quality financial services

High-quality service of Swiss banks is first customer-oriented, namely: personalized service and round-the-clock support in several languages.

 

International access

Individuals or legal entities, both Swiss residents and non-residents, can become clients of banks in Switzerland. Through the remote account opening system, the jurisdiction’s banks offer their services to all individuals, regardless of their nationality, with the ability to make online payments in more than twenty currencies.

 

Swiss Banking Regulations and Compliance

Opening an account in Switzerland requires that you fulfill certain criteria:

 

  • Being over 18 years of age.
  • Have no criminal record and do not pose a threat to the state.
  • Prepare a list of statutory documents (an individual applicant must present a valid identity card, and a legal entity – a set of documents for opening a corporate account).
  • Have official confirmation of the legal source of the funds to be credited to the account.

 

Types of Swiss Bank Accounts

You can open an account at any of the country’s banks. There are numerous types of accounts, which differ in both purpose and functionality. For example, a Swiss offshore bank account is available to non-residents of Switzerland if they fulfill the bank’s requirements, have a suitable customer profile, and can make a substantial deposit.

 

Personal Accounts

A personal bank account offers various options for managing your finances. For example, these include savings accounts, which allow you to achieve certain savings goals. These usually offer high interest rates.

 

Corporate Accounts

Business owners can open corporate accounts that are tailored to their specific needs.

 

Such accounts include:

 

  • low administrative fees;
  • free use of ATMs in Switzerland;
  • support for managing different currencies.

 

Some banks offer accounts for small businesses and start-ups, facilitating the professional running of the business.

 

Investment Accounts

An investment account in Switzerland is an ideal way to maximize your capital, thanks to open access to a range of global investment opportunities as well as a choice of investment strategies (low or high-risk portfolios).

 

Offshore Accounts

Switzerland’s offshore bank accounts offer a high level of service, asset security, and client privacy. The jurisdiction’s offshore accounts are practically unrivaled in the world due to the peculiarities of the jurisdiction. Such banking service in Switzerland is available to both individuals and legal foreigners.

 

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Account opening conditions

The peculiarity of Switzerland as a financial jurisdiction lies in the presence and observance of a number of conditions when opening personal and corporate accounts. Among these conditions:

 

  1. Making an activation deposit (for example, for CIM Banque – 10000 USD / EUR / CHF): after the client is approved by the bank and the IBAN is issued, the client must transfer the initial (activation) payment in order to gain access to all banking products and services.
  2. Maintenance of the minimum balance on the account (for CIM Banque – 1000 USD / EUR / CHF). In some institutions, this balance reaches 3,000,000 USD.
  3. Confirmation of the legality of the origin of funds and investments: bank representatives check the information provided.
  4. It is not possible to open an account remotely in all banks (CIM Banque provides such an opportunity).

 

Note! As a general rule, Swiss banks are more suitable for holding financial assets than for trading activities. However, each banking institution forms its own offers, conditions for customers.

 

Lawrange specialists are ready to advise on the conditions for opening and maintaining an account in a particular bank, as well as to choose the best solution for an individual client’s request.

 

Documents for opening a corporate account in a Swiss bank

  • Notarized charter and memorandum of association of the company, protocol on the appointment of officials.
  • Certificate of Incorporation – confirmation of registration of the company.
  • Share Certificate – evidence of ownership of a certain number of shares of a business entity.
  • Certificate of Good Standing for companies older than one year – confirmation of the existence of the company, the presence in the official registers of the fulfillment of tax obligations in the country of registration.
  • Information about the beneficiary of the company (resume, notarized copy of the passport, TIN, proof of residence with address of residence, for example, utility bills, proof of asset ownership, information about sources of income).

 

All documents are translated into English!

 

***Notes: The Bank has the right to require additional documents, depending on the jurisdiction of your company and business features. These documents should be submitted as soon as possible.

 

Attention! Since 2020, banks have been checking the existence of a real presence of the client’s business (office, hired personnel) and the filing of tax returns in the country of registration. It is also necessary to present the company’s financial statements prepared by a certified auditor. The choice of place of incorporation should be consistent with the activities of the company.

 

Choosing a bank to open an account

Swiss banks specialize in maintaining savings and investment accounts. Opening current accounts is more extraordinary than ordinary service. But some institutions, including CIM Banque, provide such a service to their customers.

 

When choosing in the bank profile, you need to look at:

 

  • specialization;
  • availability of representative offices;
  • entry threshold;
  • minimum balance recommendations;
  • requirements for clients.

 

Lawrange specialists recommend that clients pay attention to the specifics and advantages of some banks when opening an account by non-EU residents.

 

CIM Banque

Official website – http://www.cimbanque.com/

 

  • Possibility of remote account opening.
  • Low “entry threshold” 10000 USD/ EUR/ CHF.
  • Proven reliability, competence – the bank has been operating since 1990.
  • Availability of Russian-speaking staff.
  • Operational passage of the opening procedure – from 1 to 6 weeks.

 

Julius Baer & Co. LTD

Official website – http://www.juliusbaer.com/

 

  • One of the oldest banks in the country, founded in 1890.
  • The bank is represented in 28 countries of the world.
  • A meeting of a business owner with a bank employee can be held in Kyiv.
  • There are no initial deposit requirements (but the balance is 500,000 USD).
  • Availability of Russian-speaking managers.

 

Banque Internationale and Luxembourg

Official website – http://www.bil.com/

 

  • A subsidiary of one of the oldest Luxembourg banks.
  • Specializes in personal service, asset management.
  • Availability of Russian-speaking staff.
  • A meeting of a business owner with a bank employee can be held in Kyiv.
  • The terms for opening an account are only about two to three weeks.

 

Bank Vontobel AG

Official website – http://www.vontobel.com/

 

  • It is part of a holding with representative offices in 20 countries of the world.
  • Specializes in personal services to large clients.
  • An account is opened within a week, a week after that Internet banking is available.
  • It is possible to conduct transactions for the acquisition of financial instruments through Internet banking.
  • A meeting of a business owner with a bank employee can be held in Kyiv.

 

BSI AG

Official website – http://www.bsibank.com/

 

  • The bank was founded in 1873.
  • Now represented in Monaco, Hong Kong, Singapore.
  • You can open an account in just two weeks.
  • There are no initial deposit requirements (but the balance is 1,000,000 USD).
  • Possibility of remote account opening.

 

Credit Suisse Bank

Official website – http://www.credit-suisse.com/

 

  • For more than 150 years, he has been successfully managing private capital around the world.
  • The bank is interested in investment accounts.
  • The minimum account balance is from 1,000,000 CHF.
  • The bank can offer a Russian-speaking manager.
  • A universal banking institution that provides all types of banking services.

 

Falcon Private Bank Ltd.

Official website – http://www.falconpb.com/

 

  • Specializes in asset management, related financial services.
  • Founded in 1965.
  • Possibility of remote account opening.
  • Account opening time is about two weeks.
  • Allows you to open accounts in the following currencies: CHF, USD, EUR.

 

PKB Privatbank

Official website – http://www.pkb.ch/

 

  • Provides services in the Forex market.
  • All accounts are multicurrency.
  • The bank has a representative office on Antigua (West Indies): to St. John’s.
  • You can manage your account using internet banking.
  • The bank is focused on the international clientele.

 

Pictet & Cie

Official website – http://www.pictet.com/

 

  • Founded back in 1805.
  • Internet banking in English, there are Russian-speaking employees.
  • The bank has always focused on asset management.
  • The third largest asset management bank in Switzerland.
  • It has a high long-term credit rating according to Fitch and Moody’s.

 

Attention! The list is not exhaustive. Contact us to find out in detail which banks we work with, as well as the cost of opening an account, conditions, tariffs.

 

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Opening a bank account in Switzerland step by step

 

Step 1. You submit a request for a consultation to us.

 

Step 2. Based on your wishes, business specifics, needs, a bank is selected.

 

Step 3. With our support, a package of documents is prepared, which is then sent to the bank.

 

Step 4. It is possible that additional documents will need to be prepared during the application process by the bank.

 

Step 5. After the bank approves you as a client, an activation deposit is made. And you can be congratulated as the owner of a Swiss bank account!

 

 

Choose the bank

There are more than 200 banks in Switzerland. Each canton has its own banking institution. Choosing a bank means choosing one that fully meets the needs of the individual client:

 

  1. English language support (customer service, documentation, and online banking) is very important for those who do not speak the local languages.
  2. Comparing the fee structure (account maintenance, transactions, and additional services) will allow you to pick the right option and result in significant savings.
  3. Reliable online banking is needed to manage accounts remotely.

 

It is useful to consider banks that specialize in servicing non-residents. Switzerland offshore bank accounts usually have a simpler opening process. And don’t forget to consider the deposit when opening an account, which varies significantly from bank to bank.

 

Prepare necessary documents

To open an account in the bank of this country, you need to collect the following documents translated into English:

 

  • a notarized copy of a foreign passport or other government-issued ID;
  • official proof of residence in Switzerland or in another country (e.g., rental agreement, utility bill);
  • proof of legal residence (e.g., pension certificate, employment contract);
  • tax returns.

 

Depending on the applicant, the specific situation, or the type of account, banks may also require additional documents (e.g., company registration certificate and financial statements).

 

Submit the application

The application process may vary depending on the type of account, bank, and the nationality of the applicant. It typically includes an inquiry to the selected bank and submission of all required documents.

 

Compliance and verification

Almost anyone has the right to apply for an account with a bank in a jurisdiction. However, there are certain nuances that require careful scrutiny and selection.

 

Banks will definitely refuse an applicant if:

 

  • they consider him to be a political threat;
  • he has a criminal record;
  • he is under eighteen years old.

 

Also, the applicant must prove to the bank the legality of receiving their funds.

 

Initial deposit

To open an account, banks require the applicant to make a minimum deposit, the amount of which varies depending on the type of account and the bank. There is a one-time fee for opening an account, which is an application fee that is not refunded to the applicant in case of cancellation.

 

Account activation

After the application has been accepted, account activation is required. This is done by depositing the required amount into the account.

 

Managing your account

Proper and efficient account management ensures that you not only maximize benefits but also minimize costs. This includes using online banking to pay bills and make transfers. Regular monitoring of activity and financial movements will avoid overdraft fees and help identify unauthorized transactions.

 

There are significant advantages to using online banking to manage your account. The most important ones are:

 

  • time-saving, as there is no need to visit bank branches to perform various routine operations;
  • round-the-clock financial management.

 

Some banks also provide mobile applications that allow to increase the convenience and accessibility of banking services.

 

Why you should contact Lawrange

Opening a Swiss bank account is a complex process that requires an understanding of many nuances. Expert support and thorough preparation in this matter are not just desirable but essential.

 

If you want to open an account in this jurisdiction, contact the experts at Lawrange for advice.

 

Lawrange is a combination of many years of experience and professionalism. We will go together with you through all stages of the opening procedure, starting from the preparation of documentation and ending with the activation of the account.

 

FAQ

What are the requirements for opening a Swiss bank account as a non-resident?

To open an offshore Swiss bank account, non-resident applicants need to submit the appropriate paperwork, undergo customer verification procedures, and make a minimum deposit. One of the main requirements of banks in this jurisdiction is to have a document confirming the legal source of funds credited to the account.

 

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What documents do I need to open a bank account in Switzerland?

Application for opening a Swiss offshore bank account requires the following documents:

 

  • a copy of a foreign passport translated into English and certified by a notary;
  • address of residence (indicating first and last name);
  • tax declarations;
  • official proof of origin of funds.

 

Legal entities-applicants need copies of constituent documents translated into English and notarized, as well as financial statements. Some additional documents may be requested by banks.

 

What are the minimum deposit requirements for Swiss bank accounts?

The initial deposit required to open an offshore Swiss bank account depends on the bank itself, as well as the type of account.

 

 

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