Swiss banks and Swiss personal banking are acknowledged as the ultimate resource for high net worth individuals, used by the rich and well-known, sports stars and big corporations. Regardless of current attacks on offshore banking in Switzerland, Swiss personal bankers still maintain the decades-old track record for privacy and security.
The Swiss cities of Zurich and Geneva are world popular for the private banking services they use – not to mention many other smaller sized cities which handle wealth on the scale of global monetary centres.
What sets Swiss banking apart?
Its credibility for banking know-how, and naturally the bank secrecy law. Swiss bank secrecy, codified into law by the 1934 Swiss banking Act, has ushered billions of dollars into Swiss banks – wealth getting away from corrupt governments, extreme taxes, and the risk of frivolous lawsuits
A number often overestimated is the amount of” black” loan in swiss bank accounts. Just a small fraction of loan in Swiss banks has criminal origins. The truth is, many financiers like banking in Switzerland for its security. When it pertains to putting wealth in a safe place, the Swiss franc and Swiss banking are preferred 99% of the time.
Nevertheless, bank secrecy in Switzerland is not as strong as it when was. For years the large corporations have known that relying on bank secrecy in any one jurisdiction is a dish for disaster. That’s why they not bank or incorporate solely in one country. When it concerns the HNWI, exactly the same guidelines apply.
Sadly, taking a trip to remote tax sanctuaries and establishing several trusts and offshore companies suffices work for a tax accountant – never mind the supreme beneficiary. Exactly what numerous are actually trying to find is a method to simplify all this, a private savings account that keeps your identity secret and your loan safe.
A solution increasingly employed is worldwide trust banking. When you bank with an offshore trust company you can make big transfers without inconvenience or extreme documents. Clients can send wires and make private investments in the name of the trust company so that their identities remain private. Most importantly, trust company law is different from bank secrecy laws – and safeguards your identity irrespective of changes in bank secrecy – wherever you opt to bank.
If you are looking to invest while keep your identity personal, or merely for a safe alternative to swiss banking, trust banking could be your option.
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