How to make a deposit in a Swiss bank. Deposits in Swiss banks

Many believe that a Swiss bank may be of interest only to millionaires, officials or criminals who need to hide their illegally acquired wealth. Or famous and public figures who do not want to advertise their income for one reason or another. But in fact, every adult can open an account in one of the banks in Switzerland.

What is needed to open an account in a Swiss bank

Until recently, Russian citizens could make a deposit in a Swiss bank only after receiving special permission Central Bank. The only exceptions were those citizens who temporarily resided abroad. But since 2003, Russians have the opportunity to open an account in Swiss banks, regardless of their place of residence. This year, Central Bank Instruction No. 100-I “On accounts of resident individuals in banks outside the Russian Federation” came into effect. According to it, they have the right to open bank accounts foreign countries or branches located on the territory of states included in the Organization for Economic Cooperation and Development.

Came into force in June 2004 new law O currency regulation, thanks to which Russian citizens had the opportunity to use banks in other countries. It is worth noting that you can open an account in a Swiss bank and store money in it only after obtaining permission from tax office at the place of residence.

For what purposes can you use a Swiss bank account?

According to instruction No. 100-I, an account in a foreign bank can be opened to save money. For purposes related to the implementation entrepreneurial activity and for business services, you can only use the services of Russian banks.

How to open a bank account in Switzerland

This can be done by any individual or entity. Your account will be serviced in almost any currency in the world, although many prefer the Euro, US Dollar, Swiss Franc or British pound. In some banking institutions, you can open an account by mail. The bank will send you all the required receipts and conditions. Essentially, the processes for opening an account in person or by mail are almost identical. The only difference is that when registering an account by post, you need to first have the copies of documents provided to the bank certified by a notary.

An approximate list of data that needs to be provided to open an account in Switzerland

The Swiss bank requires the following information from its potential depositors:

Personal data of the client, namely last name, first name, country of origin, residential address, place and date of birth, nationality.
Information about the type of activity.
Copies of the first four pages of the passport.
Copies of recent payment receipts utilities, on which your name is indicated. Receipts must also be certified by a notary.
Documents confirming the source of funds in the account.

Where can I open an account in Switzerland?

The Swiss bank offers clients a wide range of services, while fully guaranteeing confidentiality. Each banking institution, however, has its own characteristics of opening an account. First of all, you need to decide for what purpose you are opening it. When choosing which bank to give preference to, you will in any case have to balance between the possibility trust management account and confidentiality.

Banks in this country are guided by fairly strict rules regarding the procedure for opening accounts. If the Swiss bank you have chosen has a branch or subsidiary in Russia, then you are better off contacting these institutions. If there is no representative office of this bank in Russia, then you need to contact the Swiss bank directly, which will guide the further direction of your actions.

How much does it cost to open an account in a Swiss banking institution?

To keep money in a Swiss bank, 350-550 dollars plus the amount of the initial deposit is enough. Bank fees in this country are quite reasonable, and interest rates in Swiss banks are usually higher than in other countries. Accounts opened under the trust management system annually bring their owner from 8 to 15% profit. For ease of control, many banks use technological innovations, in particular investment strategies and Internet banking.

Quite often, when opening an account, the minimum deposit threshold is set at one hundred to two hundred thousand dollars. But there are also banks that are ready to open active accounts with much smaller amounts. This also applies to bank fees and payments. The larger the contribution, the more flexible terms offers the bank regarding requirements and minimum restrictions. It is worth noting that any financial institution located in Switzerland paying dividends and interest is required by law to withhold income tax at a rate of 35%.

Tax is paid at the place of receipt of funds. Citizens of foreign countries have the right to claim compensation for the tax they have paid if the country in which they are located has concluded an agreement with Switzerland to avoid

For what reasons may you be refused to open an account?

In most cases, applications for opening an account are accepted by a Swiss bank in Moscow, but there are separate category clients who are still rejected. For example, a banking institution may not allow an account to be opened by persons who, as clients, may in a negative way affect the bank's reputation. Also, opening an account may be refused if doubts arise regarding the veracity of information about the origin of the potential client’s funds. The legislation of this country prohibits banks from accepting cash, if they found out or even just assumed that the money was obtained illegally or criminally. Many private banks require a recommendation or special invitation from a current client to open a depository account.

Private Banking

Service "Private Banking" ( Private Banking) is available to persons who keep extremely large assets in a Swiss bank. This service is called private, since clients receive individual, more high level service than that provided in a mass retail establishment. Typically, Private Banking is available to people who plan to make a deposit of one million dollars, but there are also private financial institutions, which provide this service to clients investing more modest amounts - 50-100 thousand dollars. Private Banking services include advisory information regarding the features of asset management, including investments and their planning and various tax measures. Many private financial institutions refuse to work with people without a special invitation from a person who is already their client. It is worth noting that investment services Retail Swiss banks also offer, but they are often quite far from the level that is noted in the service of private financial institutions.

Anyone has the opportunity to contact Swiss banks to open an account. In official organizations, you don’t even need to make a deposit for this. an initial fee, which cannot be said about private banks. As a rule, they ask you to deposit into your account minimum amount agreed with the banker.

It does not matter what currency the transaction will be performed in. Most often, customers choose popular monetary standards- francs, dollars, euros, less often - other freely convertible currencies.

There have been cases when banks refused to open an account for politically prominent personalities for fear of harming their reputation. Russian entrepreneurs doing business in Switzerland have their own pitfalls.

Suspicious banks require such an extensive package of documents from them that it is easier to seek the help of a Swiss lawyer from a reputable office.

Strengthened control of documents by banks applies only to non-residents of the country and has no relation to foreigners with a residence permit. In order to open an account in a Swiss bank, the personal presence of a foreigner is not necessary.

Large banks have their branches in other countries. It is enough to contact the official department and submit the desired application.

Application form for opening a Swiss bank account

If there are no Swiss branches in the country, you will still have to visit the Alpine Republic to open an account. Due to the spread of fraud, Russian citizens should be careful when opening an account through intermediaries.

Personal presence is very important condition, since due to obligations of extreme caution and thorough identity verification, the applicant must present his passport (or a document replacing it).

The information read is verified by internal information databases bank for identification and credit history applicant. As mentioned above, to open an account with a Swiss bank in 2019, the personal presence of a potential client is required.

In the near future FINMA (Swiss supervision of financial markets) plans to allow transactions via the Internet.

And now the largest Swiss bank, UBS, has announced the opportunity for citizens of the country to open an account using smartphones. The news arrived on March 18, 2016 and made other banks think about introducing a similar application.

Now UBS clients will be able to identify their identity through a special application “UBS Kontoeröffnung Online” and sign electronic documents after familiarization. Banks such as Valiant, Raiffeisen and Credit Suisse have already begun preparations for digital account opening.

When contacting a financial institution, you will need the following package of documents:

passport;
identification card;
document on the passage of funds;
document confirming payment of tax on visible funds.

The last two documents are checked by the bank only for authenticity.

Interest rates on deposits

Everyone who opens an account in a Swiss bank asks the question: how much does it cost to maintain the account and what is the interest on the deposit amount? In general, there is no fee for opening an account in a Swiss bank. But for its content, each founder sets his own price.

For example, the fee for maintaining an account in different banks ranges from 100 to 500 francs per year.

To conduct other banking operations(contents of statements, transaction losses) a percentage for the service is established. Since the beginning of 2017, news has come out that interest on deposits in the Alpine Republic has approached zero (savings account - 0.15%, private account - 0.01%, account pension savings – 1,125%).

Comparison interest rates in major Swiss banks

This means that the money invested will not multiply. To be honest, a decrease in the profitability of a deposit is a fairly moderate price to pay for a high level of reliability. Moreover, in European countries interest rates on savings are even lower.

Established a negative refinancing rate central bank Switzerland, which has been within the range of (-1.25) - (-0.25)% for three months in a row.

A negative interest rate means that banks holding correspondent accounts in Switzerland must pay 0.75% per annum on amounts above the established limit. The new law will not affect deposit accounts below 10 million francs, and commercial bank investments below 20 times the minimum reserve. “Customers of commercial banks have nothing to fear...”, assures National Bank

Switzerland. In other words, a negative refinancing rate means that banks will receive less from their accounts than they put in. It's kind of a penalty for holding credit organizations

On the other hand, a negative rate could weaken the overly strong franc due to a partial outflow of invested capital from Swiss banks. Then the Alpine Republic will be able to export to EU countries and stabilize its own deflationary economy.

What determines the success of the Swiss banking system? Throughout their existence, Swiss banks have been steadily monitoring their reputation. Regarding reliability banking system , the country is guided by additional, more stringent requirements (than required under the Basel Treaty). And Switzerland owes its stability to the current policy of neutrality, much known “ bank secrecy " And high standards

service. Today the Alpine Republic has more than 500 banking organizations , which employ 4% of the country’s total population. Financial system

Countries are divided into several categories:
Swiss National Bank;
Large universal banks;
Cantonal (regional) banks;

Private banks.

Private organizations are mainly engaged in servicing clients with large capital. Example personal account

one of the Swiss banks

They do not provide lending. Their main task is to manage clients' money.

There are a number of features by which any financial organization operates.
Modern information security technologies.
Linking the deposit to a numbered account.
Strict control banking from the government.
Banking secrecy.

Swiss tax policy is designed in such a way that it does not affect the banking sector. Therefore, all income arising from the interest of the deposit (or during trust operations) completely belongs only to its owner and is not subject to tax. Whereas other countries impose a profit tax of 10-50% on banking transactions.

Modernization of financial organizations provides a 100% guarantee of information protection from hacking. Checkbooks are slowly becoming a thing of the past.

Size tax payments in various Swiss cantons

Instead, new Internet banking programs, electronic transfers and signatures appear. The impenetrable encoding of information and an impeccable reputation convince us that keeping money in a Swiss bank is not only prestigious, but also reliable.

Another level of additional protection against information leakage is numbered accounts. Your Roma is a replacement for a personal account, only instead of personal data a numeric set is indicated. Nevertheless, the identity of the owner is known to the bank, but a limited number of people from management have access to the data. Using a numbered account, the client can pay or transfer money and remain incognito.

Longevity financial pyramid in Switzerland is mainly due to excessive controls carried out by:

Swiss banks have been a panacea for many businessmen and politicians from all over the world for decades. A deposit in a Swiss bank does not have a high return, but reliability and confidentiality more than pay for the low interest rates.

Today the situation is banking sector Switzerland is changing somewhat. The most important principle that attracted clients from all over the world is being violated - the protection of banking secrecy.

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The fact is that not long ago the United States won a lawsuit against one of the most famous Swiss banks in court, which contained deposits of US citizens who evaded paying taxes.

The bank was forced to release information on deposits. In addition, neutral Switzerland also followed EU sanctions against Russia (although it was supposed to maintain neutrality), and blocked the accounts of some Russian citizens.

These days about protection banking information and there can be no more talk of neutrality, but financial stability remains at the same high level

Main features

One of the main features of Swiss banks has been and will remain their reliability from a financial point of view. Of course, for many politicians there is cause for concern, since they may be subject to sanctions and their accounts may be blocked.

Any citizen who has savings can be calm about them if they are in Switzerland, because the reliability of Russian banks, as we know, remains at a low level.

However, do not forget that it is not advisable to invest all your money in one bank. It's better if it's banks different countries or at least different banks National Bank

Today, Swiss banks are no longer the most popular. According to research conducted by Morningstar, the most popular ones today are not Swiss at all. financial organizations, A American bank JPMorgan, funds of the American investment company BlackRock and the British asset management company Schroder.

Now let's look at what places in the world classification occupy Swiss funds that invest in European companies:

However, despite all this, many still prefer Switzerland.

General overview of the offer

How to open

In principle, almost anyone can open an account in a Swiss bank, of course, if they have a certain amount of money, the amount of which depends on the chosen financial institution.

For example, to open an account with Union Bank of Switzerland and Credit Suisse Group you will need to pay 1000 euros and have a minimum account balance of 300 thousand euros in the first bank and 500 thousand euros in the second.

In addition, within two years, the minimum balance must reach one million euros.

However, not everything is so scary. There are also banks in which the minimum minimum balance is not so significant and amounts to only 5 thousand dollars or euros. These include the Swiss Forex Bank.

So what do you need to know?<Как открыть депозит в швейцарском банке?

First of all, choose an honest and professional intermediary. Unfortunately, it is very difficult for Russian citizens to open an account on their own. The best option would be to resort to the help of intermediaries registered in Switzerland itself.

You need to decide what type of account you need. This could be a regular deposit or just a bank card, for which a small bank is enough. However, if your plans include trading shares on stock exchanges, then it would be best to open accounts in larger banks.
It is imperative to pay attention to the credit rating of the selected bank. An intermediary can help you obtain this information, or you can contact Moddy’s or Standard & Poor’s agencies yourself.

In addition, you can open a bank account in Switzerland via the Internet.

To do this you need:

choose a bank based on the tips described above;
register on the bank's website;
receive from the bank all the documents necessary to open an account;
carefully read and sign the agreement;
make notarized copies of identification documents, as well as documents required by the bank;
send the agreement and copies of documents by mail to the bank;
deposit funds into your account and receive a login and password.

The account will be opened within approximately one business week after the bank receives the documents. In this case, it is better to do without intermediaries.

What you need to know

Let's look at the main points regarding opening an account in a Swiss bank:

A citizen of any country can open an account in a Swiss bank. Simply, if you are not a citizen of Switzerland, or do not permanently reside outside its territory, then the bank will more carefully check your documents, as well as the source of the money.
You can open an account by visiting the bank in person or online.
To open an account, a foreign passport or other identification document is required. In addition, the bank may require a certificate stating where the money came from and that all taxes have been paid on it. However, not all banks require such a certificate.
A bank account in Switzerland can be opened in Swiss francs, euros, dollars or British pounds.
In the event of bank bankruptcy, deposits up to 100 thousand francs will be paid immediately, valuables stored in the bank will also be returned immediately. Amounts higher than indicated will also be returned, but a little later.
The bank may provide a credit or debit card for an open account.
Almost no Swiss bank charges money for opening an account. For services, various operations, and administrative expenses, a monthly fee is charged, which varies from bank to bank.
Deposits can be savings, private and investment. The lowest interest rates are on private deposits, the highest on investment deposits, but there is also a risk with investment deposits.
Interest accrued on a deposit is subject to tax in the amount of 35% . However, if a tax return is completed in Switzerland, this amount can be returned.

Known Misconceptions

We all have always believed that storing money in a Swiss bank is profitable and safe. However, there are a number of misconceptions that you should definitely familiarize yourself with before opening an account there.

Many people think that Swiss banks offer decent interest rates on deposits, but this is far from the case. The highest percentage may be in the area 3% , and even then if the deposit is opened for a large amount. On average this is only 0,5% .

Many intermediary firms, in order to make money, say that to open an account in Switzerland you need to go there in person and only with an intermediary. However, you can do this yourself, via the Internet.

There is also a misconception that to open an account you need to have a residence permit in Switzerland. But that's not true. And even ignorance of the language will not be a hindrance. Many banks have Russian-speaking employees.

The benefits of choosing a deposit in a Swiss bank

Earning principle

Switzerland is one of the richest countries. Its currency is stable. Therefore, the banks of this country are very attractive. And with large funds in bank accounts, the country earns even more.

The reliability of banks is also due to operating principles that are different from other banking systems. The fact is that Swiss banks do not attract deposits at high interest rates. Loans secured by collateral are also not issued.

Banks are engaged in fiduciary management of customer deposits. They invest in various companies and thus increase both their own income and the income of their clients.

In a Swiss bank account you can safely store funds, you can receive small interest, and you can make money.

To earn on your order account 30% per annum, you just need to transfer it to the bank for trust management, for which a corresponding agreement is signed

Exchange and service

As mentioned above, among Swiss banks, there is also Forex Bank. The minimum deposit on it is only 5 thousand US dollars.

On this account it is possible to convert funds into any other currency. To do this, a sub-account is opened in the appropriate currency, in which the funds will be stored.

However, there is a conversion fee that depends on the amount and amounts to from 0.05% to 1%.

Using credit and debit cards from Swiss banks is also quite expensive. The bank will charge an annual fee for servicing the card, and interest on cash withdrawals outside Switzerland may be up to 4%.

At Forex Bank, there is no account maintenance fee if at least one transaction is made within three months.

Remember that you can open a Swiss bank account yourself, via the Internet. There is no need to pay intermediaries for this.

Be prepared for the fact that the bank will check the authenticity of the income and tax certificates that you provide to it. The check is not carried out on the merits of what is written in the certificates, but only on their authenticity.

Due to the worsening attitude towards Russia and various sanctions, banks may block your accounts.

Advantages

The Swiss franc is one of the most stable currencies. Over the last century, the Swiss currency has depreciated by only 10 times, while the dollar has depreciated by 29 times, and the British pound sterling by as much as 214 times.

Many people have quite a lot of savings, so it is natural to want to invest money in a way that makes a profit. There are many different investment projects that are attractive in terms of profitability, but they have a certain risk of loss that most people whose main activity is not related to investments do not like. Therefore, as a rule, they want to invest money in a bank profitably, thereby keeping it intact and also receiving interest.

There are many different lending institutions that you can invest in, but quite a lot of licenses have been revoked recently, so people don't know which bank to trust. It is believed that the most stable bank is the Swiss one, since high interest rates are paid there, and you don’t have to worry about the safety of your funds. It is possible to invest money in a Swiss bank, but to do this you need to have certain knowledge. Russian citizens have the opportunity to keep their own funds in a Swiss bank, and it is there that there are very high and favorable interest rates for investors. It is very prestigious to store money in these credit institutions, and all funds will always be safe.

Obstacles to investing in a Swiss bank

Swiss banks do not provide the opportunity to invest funds to anyone who wishes, as they impose certain requirements and conditions. As a result, a person who wants to invest money in a bank at interest undergoes a thorough and serious check, which differs significantly from that which is carried out in Russia. To invest, you must have an exceptionally positive reputation, a good credit history, and also provide a recommendation from a person who is a client of the bank of interest. The minimum deposit is 100 thousand euros, so only wealthy people can invest. Another mandatory requirement is documentary and official confirmation of the potential investor’s income.

You should also remember that in order to invest money in a Swiss bank, you need to obtain appropriate permission from the tax authorities of the Russian Federation, and obtaining it is quite difficult. As soon as it is in hand, it should be sent to the bank where you intend to open an account. Next, the bank must issue an invoice for the new client, and after payment, the Russian becomes a full client of the Swiss bank. However, in reality, it is very difficult to fulfill all the conditions and carry out operations.

Advantages of investing in a Swiss bank

Many people dream of having deposits in a Swiss bank, since these actions are profitable and have many advantages. First of all, these include the fact that there is almost completely no risk of losing the invested money. The same cannot be said about Russian banks, since even the largest organizations can become bankrupt in a matter of days.

Another advantage is that even economic and criminal risks are eliminated, and the investor’s capital becomes independent of oil or gas prices. Any client of a Swiss bank can be 100% sure that banking secrets will never be revealed, and all transactions are carried out exclusively confidentially. The interest rates offered by the Swiss bank to its depositors are very attractive and quite high, and this advantage is the most important and significant for many potential investors. Also, you won’t have to pay too much money for account servicing, so using the services of a Swiss bank is very convenient and profitable for any person who has the required amount of money.

It is quite difficult to invest money in a Swiss bank, and this became possible for Russians relatively recently due to a certain bilateral agreement.

However, before preparing all the necessary documents, it is recommended to initially select a specific Swiss bank from all available credit institutions. Usually you have to face a difficult and problematic choice here, since almost any Swiss bank is reliable and stable, and interest rates are no different.

It is best to focus on time deposits, since they are the ones that bring the highest income. Another profitable option is to transfer existing financial assets to a bank, which will use them for investment management.

Investing in a Swiss bank is an opportunity to keep them in a safe place and also receive a good income from it.

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How to open a Swiss bank account for a Russian citizen website website
The Swiss credit and banking system is a stronghold of stability and economic “eternal values” in our changing world. Placing funds on the territory of the country helps to increase and strengthen the status, makes it possible to worry less about the risks of losing money, and opens up many prospects for businessmen. Therefore, the question of how to open an account in a Swiss bank interests many Russians. In the country, which has been developing the mechanism of financial instruments for many centuries, about 30% of all global capital is concentrated, it has representations of most structures from the international credit sector, which significantly simplifies interaction with them. Individuals and business entities are eager to open an account with a local bank, and there are many reasons for this.
In Switzerland, there is a principle of banking secrecy, enshrined at the legislative level - in federal legal norms (for example, “On Banks and Savings Banks”). Not only current, but also former employees of the industry are subject to criminal liability for “too long tongues” (State Criminal Code, Art. 305). There are no relaxations in the rule - for third world countries or certain categories of investors. Any person, including those engaged in individual entrepreneurship, can open accounts.
Another advantage is the stability of the system. Switzerland can boast that it survived the global financial crisis with minimal losses. After the banking reform, legislative requirements for the size of reserves of local structures took first place on the planet. The country is a member of the FATV and the OECD, so accounts placed on its territory will not cause problems with tax authorities and serious business partners. Among other guarantees for the protection of deposits is the presence of privileged groups according to the scale of investments (if they do not exceed 100 thousand francs, funds in the event of bankruptcy of an institution are paid for them first of all).
Other advantages that make you think about how to deposit money in a Swiss bank:

efficiency - requests are processed quickly, and the procedure for issuing invoices takes up to a week;

with high reliability, a relatively small percentage fee for transactions;

many services for individuals and a developed correspondent network;

the ability to manage funds remotely (the scope of the service depends on the specific bank).

Can a Russian citizen open a Swiss account?

Yes, maybe the legislation and the Federal Tax Service do not limit his “financial rights”. Non-residents often choose Switzerland for the purposes of capital protection and trading (for this area, by the way, the minimum contributions are reduced). The main requirement of domestic authorities is to report on the procedure no later than 30 days after its completion. Tax authorities require Russian citizens to notify them of all transactions made on deposits and accounts outside the state. A report that records the bank's name, country, size and number must be sent to the inspectorate at the place of registration.
When learning how to open an account in a Swiss bank for a Russian citizen, you need to remember that the latter may face restrictions from the “receiving” party:

Firstly, not all institutions work with non-residents, and in any case the registration procedure will be different.

Secondly, Swiss bank officers scrupulously and meticulously study the sources of income and the future clients themselves. This system has become more stringent after a series of conflicts with the German and American governments over investors, and today the capital of the “applicant” is scrutinized very carefully and the request may be refused. For example, they do not open accounts for those who are in the civil service, without discounts on the size of the deposit, they practically do not accept cash as contributions, and they may ask for proof of place of residence (utility bills).

Swiss banks, contrary to the stereotype, are not so sensitive to depositors of large sums, checking them strictly, like other clients. You need to be prepared for questions about family, lifestyle, business/work. Invoices are drawn up in absentia in a specific way: the procedure cannot be carried out completely remotely; an interview must be conducted to identify the individual. A representative of the selected bank may come to a meeting with a potential partner, since Skype communication technologies are not very common and are not welcome.
Many structures have representative offices throughout the Russian Federation, and not only in the capital. Often, bank employees come to Russia regularly, according to their own schedule, and you just need to “arrange” the meeting, collect a package of the necessary documentation at the time of the meeting and wait for the decision. If it is positive, communication with managers will not stop - at least once every two years you need to communicate with them, resolving accumulated issues and discussing proposals.

Requirements of banks for potential depositors

Before opening an account in a Swiss bank, the applicant will have to collect an impressive package of documents. Here, the support of professional mediators familiar with the procedure will be appropriate and useful. Each institution has its own requirements for clients; they can request additional supporting documents and double-check the origin of the money. The procedure for making a minimum contribution also has its own peculiarities.
Officially, it is not necessary to transfer it to residents of the state or those who regularly cross its border for business purposes (this is how, for example, Credit Suisse, UBS, Raiffeisen work), but in practice almost every bank has requirements for initial amounts. The minimum “threshold” ranges from 300-700 thousand Swiss francs, but after the crisis in the global and Russian economy, many structures raised it to a million since 2016-2017. You can choose your currency freely, but preference is given to the most common ones (euro, US dollars, British pounds) and local ones.
In the country, individuals open accounts of current (private - Girokonto), investment, savings (Sparkonto), deposit types. A local structure may not be suitable for business entities to work with (some of them are reluctant to engage in “classical” business operations); private clients are often more convenient to work with Swiss banks. It is necessary to remember that the requirements for the composition of the documentation, its specificity, and breadth are very strict, and prepare the papers carefully. Individuals will need to present:

passports (foreign and domestic) or ID;

confirmation of the source of money - receipts for the sale of shares, documents for the sale of real estate, statements from other banks about withdrawals of funds, the origin of business capital (in general, everything that you can present);

Variable information identifying the applicant - utility bills, family composition, confirmation of payment of taxes on capital, and so on.

Sometimes confirmations (for real estate, existing assets) need to be collected for the 10 years preceding the application - this practice exists, for example, at UBS. After receiving the package, the bank will check it for authenticity and make a decision - this will take up to 30 days. If it is positive, the client is given the details. Accounts are closed in different ways: private accounts immediately after receiving an application from the owner; for savings accounts, a temporary “buffer” is often provided. You will have to wait from three months to a year. Individual rules are established for investment accounts.

Account operation

How to deposit money in a Swiss bank and use it in the future? There are many ATMs in the country that dispense cash in francs or euros with a commission that depends on the agreement. Credit cards are issued and serviced by all institutions, but each of them has its own conditions by type or currency. Basically, banks work with Visa, MasterCard (including debit cards), American Express, stipulating the obligation to keep an “unbreakable” balance on them, usually in the amount of the monthly withdrawal limit. A service fee is charged. Opening accounts is often free, but you will have to spend money on maintaining, carrying out transactions/operations and administrative expenses (correspondence, card servicing).
The amount of expenses is determined in the contract, often individually, and it can be even higher than the interest on deposits made. By the way, about the latter - theoretically, all banks should pay them. However, due to the tense situation in the world and the tightening of rules on negative interest (they are paid by local financial institutions), the client may not receive funds. The lowest interest rates are for private accounts, the highest, but at the same time more risky, for investment accounts, but they are also low. Even 0.5-1% is considered a significant share, but there is also a 35% tax on this amount (not on the money in the account) - for bank secrecy.
The downside of the lack of benefit can be considered the reliability of funds in the accounts. Information about them is disclosed only for very compelling reasons, the country’s system is stable, Swiss bank credit cards are accepted everywhere in the world, they have many partnerships. If the account is needed to accumulate and protect money, and not for everyday business transactions, the local credit industry will be a good choice, especially if we are talking about an honest and not a legal entity. Another reason to choose Switzerland is the abundance of banks themselves. In order not to get confused by their number, you need to “study the market offer.”

How can a Russian citizen open an account in a Swiss bank and not make a mistake in choosing a partner? It is immediately worth “cutting off” those of them who are reluctant to cooperate with non-residents, not to mention institutions that do not maintain relations with foreigners at all (these are cantonal, state structures). You can give some advice - when studying the market, focus on:

credit ratings - they are formed by well-known global agencies (Moody’s, Standard & Poor’s);

level of security - if the structure operates successfully during a crisis, is not involved in scandals with investors and governments of different countries, you can completely trust it with your money and valuables;

the number of financial instruments to which you need access - if you need to operate securities, buy and sell on the stock exchange, it is better to cooperate with the oldest, “big players” (Credit Suisse, Julius Bank, UBS), and if a standard card and deposit placement is enough , you can pay attention to small private banks, local or regional;

the institution’s own capital and the size of its assets (the larger they are, the more reliable the bank) - for most significant structures its level starts from 500 million francs, but you need to understand that they are affected by global processes, and no one can provide one hundred percent guarantees of reliability;

break-even for at least the last ten years;

the age of the bank (in Switzerland, institutions founded more than 150-200 years ago are not uncommon) and other factors.

For reasons of imaginary security, you should not “split” the available amount into parts and put them in different institutions - this will entail excessively high maintenance costs. The fewer additional “options” in the service package, the cheaper the service costs the client, and global banks provide partners with a wider selection of account types. For example, at UBS, in addition to standard ones, you can also open stock funds.
It is also important whether there is a fee for Internet activation of services, how much the rates increase in case of urgency, and so on. The entire array of information is simply impossible to process without preparation, so it is worth turning to professional consultants who conscientiously approach the needs of clients and are competent in the matter.
The Prifinance company is happy to provide all the necessary support for opening an account in foreign credit institutions and provide professional advice to everyone who needs it.