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How I can open a Swiss bank account If am staying in Canada country. Can apply and open directly thorough online or is there physical document process of opening bank account.
My dear, It’s not as easy as you might think. Swiss banks must perform a lot of due diligence: verifying the identity of the owner[1], verifying the source of the funds being deposited, and determining if the account owner is a “politically exposed person,” someone who might damage the reputation of the bank. If the bank thinks the money being deposited came or might have come from criminal activity, the bank will turn you down.
Bad news if you are a crime lord, but in practice, Swiss banks are a lot pickier than that.
If you are a Canadian or US citizen, living in Switzerland or anywhere else, most Swiss banks won’t take your money.
Thanks to the US – Switzerland dispute over US-held bank accounts, few Swiss banks want to deal with FATCA reporting requirements and are turning down new accounts from Americans.[2] Some banks like UBS are closing the accounts of American citizens:
Swiss Banks Tell American Expats to Empty Their Accounts | TIME.com
Similar disputes between EU countries (particularly Germany) and Switzerland have also made Swiss banks reluctant to take on new accounts from EU citizens.
If you are thinking one of those cool numbered anonymous numbered Swiss bank accounts would be a good way to stash ill-gotten gains or to avoid paying taxes, think again.
Swiss Numbered accounts aren’t anonymous: Swiss banks are required by law to reveal the identity of the account holder in legal inquiries and numbered accounts aren’t supposed to be used for wire transfers, and when they are, the information on the account holder is sent just like a normal Swiss bank account.
Check this information: Â SwissBanking
Hi Dear,
Glad to answer you for this question.
Well, opening an account in Swiss bank requires the complete documentation at your end, and proper verification from the bank’s end. However, the process is not that complex for sure. Let me guide you through the whole account opening process in Swiss bank here.
The most hassle-free and fastest way to open a Swiss bank account is to be at a Swiss Bank branch personally, and get the formalities done right there. Within a period of a week or a month, the account gets activated.
By 10 days or before, from the day of activation, you will receive the credit or debit card of your bank account.
For those who are living outside Switzerland – the process of bank account opening in Swiss Bank will be time and effort-taking.
By choosing any Swiss bank which has its branch in your residence country, or even have relation with a local provider, you can get the account opening formalities done.
Whosoever you will contact, the bank will require you to undergo a thorough documentation being a foreign applicant. A passport copy, copy of residence card and proper address proof have to be provided along with personal as well as professional details.
To make documentation authenticated, it is mandatory to provide notarized copies and submit by hand in the bank.
You can get your bank account opened in Swiss Bank Online itself –
Indeed! Many National and Cantonal Swiss banks allow people to open account right from the convenience of their home through online.
Though this route requires the guidance of a person from the respective bank or local resident of Switzerland. This is a very lengthy and time-taking process.
So, if you have been thinking that to open account in Swiss bank, you have to be in Switzerland, then you are mistaken.
For opening bank account, you need to take have application pack through bank’s site or via phone call. After having application pack, you need to properly fill, sign documents, and then courier to bank.
Every bank has a certain minimum account deposit threshold that you need to maintain to keep your account running in a Swiss Bank.
I hope, I’ve answered your questions appropriately. If I’ve missed anything, please reply in comment.