Professional service, respectability, high level of capitalization and liquidity make Alpiysky Krai the best place to place and store the savings of foreign citizens. Wanting to open a Swiss bank account, an individual from Russia should personally visit the country (or meet with a representative in the Russian Federation), make a minimum deposit into the account and confirm the legality of the origin of income. Capital management is carried out by fax or telephone, payment transactions require coordination with bank managers.

The legislative framework

In 2016, article 305 bis of the Criminal Code of the Swiss Confederation was legalized, which includes the concept of "qualified tax evasion". The law provides for administrative liability for bankers who suspect that clients have illegally attracted capital, but neglected measures to suspend operations. This contributed to an increase in the level of compliance control when opening an account abroad. Financiers seek to protect their companies from scandals and punishments.

It is important to know! It will not be possible to open an account in a Swiss bank for individuals who make up a list of intruders, government officials, spouses and minor children of officials.

Types of Swiss accounts: settlement

The most common option used for domestic purposes, such as shopping for groceries in supermarkets. Registration of a current account is available to non-residents of the country, permanently residing or employed in Switzerland, as well as travelers. More than 300 banks and 3000 branches are at the service of clients.

1. Three financial giants: UBS AG, Credit Suisse Group Raiffeisen Group dealing with the opening of standard bank accounts for permanent residents to travelers.
2. 24 cantonal banks subordinate to certain administrative divisions(remember, there are 26 cantons in Switzerland). If a resident moves to another subject of the federation, he is forced to transfer the account to the new canton. Bank accounts are opened in the official currency, cash transfers and withdrawals in euros are not possible.
3. 13 private banks.

Deposit

Deposit programs of Swiss banks are characterized by minimal restrictions, allowing a private person to open an account in euros, dollars and francs. When opening an account in a foreign bank, no fee is charged. And the maintenance costs 100 to 500 francs annually. The cost of additional banking operations (statements, transfers) is set by banks individually.

Dividends on deposits are close to zero:

• savings account - 0.15%;
• private - 0.01%;
• pension accumulative - 1.125%.

The negative refinancing rate (-0.25…-1.25%) was set by the Central Bank of Switzerland. A negative percentage means that companies holding correspondent accounts must pay 0.75% annually of the amount in excess of the established limit. The new law does not affect deposits of less than 10 million francs, as well as investments of banks below 20 times the minimum allowable reserve. The established refinancing rate reduces income from savings accounts, forcing banks' money to work for the country's economy. As the press service of the Central Bank of Switzerland explained, this measure is a penalty for saving liquid funds (they should not be “dead weight”).

An additional factor that influenced the rate cut was the appreciation of the Swiss franc. The government is forced to set negative rates on CHF deposits. Zero or positive rates remained on dollar and euro accounts. However, depositors rely on the stability and reliability of the francs, allowing them to save their savings.

Investment

Investment funds and trusts operate in Switzerland, offering a wide range of instruments for increasing capital. The most favorable conditions for investment accounts are provided by private companies that deposit more than 250,000 euros, large bankers require less, but the result is lower.

Anonymous

Anonymous account - a tool that ensures the confidentiality of banking transactions and placed amounts. The identification of the deposit owner is based on a numerical value, the rest of the information is hidden. The measure taken previously made it possible to hide the identity of the client from government agencies (especially the tax service). With increasing financial reporting requirements, anonymous accounts are rare and costly.

banking secrecy

Previously, Switzerland hid information about depositors from government agencies, which caused pressure from the United States, Germany, France, and Great Britain. In 2015, the government of the Altai Territory amended the legislation, prohibiting the transfer of information to tax authorities within the state, but allowing automatic exchange with the United States under FATXA.

Instructions for opening a Swiss bank account

To place capital in a foreign bank, a potential investor uses the services of a subsidiary (issuer, representative office, branch). If the financial institution of interest does not operate on the territory of the Russian Federation, you will have to apply directly or choose a law firm that acts as an intermediary between the depositor and the banker. The cost of services will be 500-1000 dollars.

Before opening a Swiss bank account, a citizen of Russia should prepare copies and originals of documents:

• foreign passport;
• passports of a citizen of the Russian Federation;
• proof of income, for example, a real estate sale agreement, a cash withdrawal statement from another bank, a receipt for receiving money from the sale of securities.

It is important to know! The amount of investment (in dollars, euros, francs or pounds sterling) must not exceed the amount of net income for the last five years.

You should also prepare documentation on education, professional activities, salary, family composition. It is advisable to get recommendations from acquaintances who are clients of Swiss banks. Personal information is transferred to the company manager responsible for disclosing bank secrecy.

After collecting the documents and transferring the information to the bank representative, it remains to wait for a letter from Switzerland confirming the successful registration of the account. The procedure for reviewing papers and making a decision takes 1-30 days. Account details are provided in the account opening confirmation letter. To fully activate your account, you must transfer to the deposit an amount exceeding the limit.

The minimum deposit amount for non-residents of Switzerland is 10,000–2,000,000 €, the minimum balance is 1,000–2,000,000 €. Restrictions do not apply to foreigners residing in the country or staying periodically for work purposes.

Remote account opening online

As part of Due Diligence(procedures for drawing up an objective view of the investment object), Swiss bankers conduct a mandatory verification of the client's identity, guided by an identity document.

It is impossible to open a deposit on the territory of a foreign state through remote access channels (Internet, mail, telephone, e-mail or fax). However, the bank has the right to accept an electronic application, which is subject to re-processing as soon as the identity is confirmed by a passport and identification card. If there is a representative office, branch or subsidiary of the selected company in Russia, the identity card is carried out on the spot. Otherwise, confirmation of the procedure on the territory of the bank will be required. Foreign financiers also check the authenticity of the new client's address by registered mail or by requesting utility bills.

Providing reports to the Federal Tax Service

Within one month from the date of opening a foreign account, a written notification must be sent to the regional branch of the Federal Tax Service. Further, in the personal account of the taxpayer, the client generates a report on the movement of money for the previous period (quarter, year). According to the information of the Moscow Inspectorate No. 13, holders of foreign accounts must provide the Federal Tax Service with notarized account statements in the most convenient way: by registered mail or by the client's personal presentation.

Information for completing the report:

1. Full name, TIN of the account holder, date of birth, address of residence of the client, passport data.
2. Name of the Swiss organization (in Latin letters), BIC or SWIFT Code of the bank.
3. Switzerland code (use the "All-Russian classifier of the states of the world").
4. Open deposit/card number.
5. The foreign currency code of the account corresponding to "OKV".
6. Co-owners of the deposit (if any).
7. The amount at the beginning and end of the year, the amount of incoming and outgoing transactions.

Note! Rare foreign companies will provide the opportunity to make transfers. A Swiss account is usually opened for the management and preservation of capital. Representatives of the Alpine countries prefer to keep confidentiality, the less money movement, the better.

It is also important to take into account the restrictions on the replenishment of foreign accounts within the framework of the currency regulation of the Russian Federation. Allowable items of income include wages, wills, dividends, coupon yields, rentals.

The amount of taxes and fines

When making a deposit in a Swiss bank, a Russian citizen is required to notify the Federal Tax Service about opening, closing, changing details and cash flow (FZ No. 173 of 06/28/2014). Income from foreign bank accounts is subject to a single tax rate of 13%. Russians permanently residing outside the Russian Federation pay taxes at the place of residence, where the rate is determined by state policy. Settlements are made in ruble currency.

In case of violation of legislative acts, the client faces fines:

If the user evades taxation of income received, the amount of the penalty will reach 100,000 ... 300,000 rubles.

Swiss bank rating

Below is a list of the best Swiss banks with service fees:

Options	C.I.M Banque	Credit Suisse	AP Anlage&Privatbank	UBS
Foundation date, year	1 990	1 856	1995	1912
Official site	www.cimbanque.com	www.creditsuisse.com/ch/en	www.apbank.ch	www.ubs.com	www.bsibank.com
Account type	Settlement and savings	Settlement and savings	Settlement or investment	Private; corporate; savings	Settlement and savings
Down payment	10000 €	500000 €	100000 €	2000000 €	100000 €
Minimum balance	10000 €	1000000 €	—	2 000000 €
Service	120 CHF per quarter	CHF 3 per month + CHF 1,000 per year for privacy	100 CHF annually	600 CHF per year	15 CHF per month
Opening time, days	10	15	3	20

Note! In Switzerland, the income received from maintaining a current account is taxed at 35%.

Advantages of foreign accounts for individuals

Swiss bank accounts allow you to win a number of privileges for Russians:

• protection from the financial crisis, devaluation in the Russian Federation;
• money diversification;
• use of international financial instruments and services that are not available in Russia;
• opening multicurrency deposits, saving money on foreign currency transactions;
• a variety of loyalty programs - for example, bonuses and discounts for cardholders of the Visa or MasterCard payment system.

Swiss bank alternatives

Swiss banks have become less popular due to taxation. Singapore and Andorra became an alternative, eliminating the need to pay taxes to non-residents of the country. The quality of services corresponds to a high level, customer support is provided in 14-34 languages. But many Russians choose Swiss banks to maintain a high social status.

Greetings! I am sure that you need to set yourself life goals that are exceptionally large-scale and ambitious. By the way, many psychologists say that this is the only way to achieve real success!

Therefore, today I will talk about how to open a Swiss bank account for a Russian citizen. Agree, such a goal certainly falls under the definition of "large-scale and ambitious."

Imagine for a second that you do not know where to put the extra $500,000. And the first thing that comes to mind is a reliable Swiss bank!

Can a Russian citizen open such an account?

It is possible, but the procedure will be different from that intended for citizens of Switzerland (or Russians who have a residence permit in the country of “banks and chocolate”).

At a minimum, you will need to prove the source of capital. Well, of course, representatives of the Swiss credit institution will check the identity of the client almost under a microscope.
Are there any restrictions on the minimum deposit amount?

Individuals residing outside of Switzerland (including Russians) can open a deposit here by depositing an amount from 300,000 to 500,000 Swiss francs. For reference: on November 19, 2015, the CHF/RUB exchange rate was 63.8 rubles.

By the way, because of the crisis in Russia, almost all of them raised the minimum amount of "entry" for our compatriots.

Can I open a deposit remotely?

In many Swiss banks it is possible to open an account via the Internet, fax or telephone. However, an individual will still have to provide the office with the originals of all documents. The easiest way is to do it personally (you will have to go to Switzerland) or through Russian intermediaries (meeting with a representative within Russia).

What documents are required to open an account?

Firstly, a foreign passport, an identification card or some other official identification document.

Secondly, a document on the origin of the money that is deposited into the account. The amount to open an account is considerable, so a certificate of income of 30,000 rubles will not work here.

Ideal option: legal business, inheritance or capital from the sale of real estate.

In what currency can I open an account?

In the national Swiss currency, as well as in euros, US dollars and British pounds. They say it will be soon.
Are deposits in Switzerland protected by bank secrecy?

Such a concept as banking secrecy is enshrined at the legislative level. Both former and current employees of Swiss banks are criminally liable for disclosing confidential information about their customers!

By the way, the attitude towards citizens of the countries of the former USSR is exactly the same as towards clients from other countries.

Why are they considered so reliable?

“Safe as in a Swiss bank” is not just a catch phrase. The fact is that it is in Switzerland that the stability of the banking system is very strictly protected by law.
After the reforms, the country ranks first in the world in terms of the requirements for the size of own reserves of large financial institutions. Perhaps it is precisely because of this that the country survived the last financial crisis almost painlessly (unlike their counterparts from the US and Europe).

Swiss banks offer a lot of capital guarantees. For example, cash, securities and precious metals that are stored in safes remain the property of their owners in case of bankruptcy. And they return to them at the first request!

How to open a deposit in a Swiss bank in Russia?

I don’t know how it is in other cities, but intermediaries are already working in Moscow to help bankers from Switzerland and large Russian investors find each other.

Such offices:

• Organize meetings with Swiss bankers in Russia
• Assist with all necessary paperwork
• Advising clients on investment and financial planning
• Opening Swiss bank accounts and facilitating a Platinum Card or Mortgage for the purchase of real estate in Switzerland

It is clear that such mediation will have to pay a lot. The procedure for opening a deposit through an intermediary in Russia looks something like this:

1. You send a letter to the intermediary requesting information about its partner banks (for example, Syz Co, Bank de Commerce at de placement or Corner). When choosing a bank, we take into account its reliability rating, capital adequacy level, interest rate and service fees.
2. Send a brief information about yourself to the intermediary. The most important point is confirmation of the legality of the origin of funds. You will need copies of real estate purchase and sale agreements, tax returns, bank statements.
3. Arrange a meeting with a private Swiss banker in Russia if it is not possible to personally visit an institution in Switzerland.
4. If everything is OK, you will receive a confirmation letter about opening an account with details. After that, the money must be transferred to Switzerland through one of the Russian banks (required by our legislation). In addition, you must notify the local tax office of opening an account.
5. After crediting money to your account, you just have to form an investment package (buy shares, funds, precious metals) or simply leave money on your account at a minimum interest rate.

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Anyone has the opportunity to apply to Swiss banks to open an account. In official organizations, this does not even require a down payment, which cannot be said about private banks. As a rule, they are asked to deposit a minimum amount agreed with the banker on the account.

In what currency the transaction will be made, it does not matter. Most often, clients choose popular monetary standards - francs, dollars, euros, less often - another freely convertible currency.

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.

Enhanced control of documents by banks applies only to non-residents of the country and has nothing to do with 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 division and submit the desired application.

Application form for opening a Swiss bank account

If there are no Swiss branches in the country, then 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 with the help of intermediaries.

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

The read information is checked against the bank's internal information bases to determine the identity and credit history of the applicant. As mentioned above, in order to open a Swiss bank account in 2019, the personal presence of a potential client is required.

In the near future, FINMA (Swiss Financial Markets Supervisory Authority) plans to allow online transactions.


And now the largest Swiss bank UBS has announced the possibility 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 customers will be able to identify themselves 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 the payment of tax on visible funds.

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

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The Swiss National Bank SNB (Schweizerische National Bank) is a joint-stock company with a special status according to federal law. Within its walls, under the supervision of the Confederation, national Swiss franc banknotes are issued. Coins are issued by the Mint.

In other words, the SNB conducts monetary policy in the interests of the country. Not only the economy of the state, but also global financial relations as a whole depend on the activities of the Swiss National Bank.

Swiss National Bank building

Acting as the government's financial agent, the SNB also provides banking services to the government. However, the government does not have the right to take a loan from the central Swiss bank for the needs of the country's budget.

Interest rates on deposits

Everyone who opens an account with a bank in Switzerland asks the question: how much does it cost to maintain an account and what is the interest on the deposit amount? Basically, there is no fee for opening a Swiss bank account. 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.

For other banking operations (the content of statements, transaction losses), a percentage for the service is set. Since the beginning of 2017, there has been news that the interest on deposits in the Alpine Republic has approached zero (savings account - 0.15%, private account - 0.01%, pension savings account - 1.125%).

Comparison of interest rates in major Swiss banks

This means that the money invested will not be multiplied. To be honest, the decrease in the profitability of the deposit is a rather moderate price for a high level of reliability. In addition, in European countries, interest on savings is even lower.

The negative refinancing rate was set by the Central Bank of Switzerland, which has been kept within the range of (-1.25) - (-0.25)% for three months in a row. Negative interest means that banks holding correspondent accounts in Switzerland must pay 0.75% per annum on the amount that is 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 be afraid of…”, assures the Swiss National Bank.

In other words, a negative refinancing rate means that banks will receive less from their accounts than they deposited. In a way, this is a penalty for the retention of liquidity in the accounts by credit institutions. Whereas money should not be a "dead weight", but work for the country's economy.

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

What determines the success of the Swiss banking system

Throughout their existence, Swiss banks have steadily monitored their reputation. With regard to the reliability of the banking system, the country is guided by additional, more stringent requirements (than required by the Basel Treaty). And Switzerland owes its stability to the current policy of neutrality, the well-known "bank secrecy" and high standards of service.

Today, the Alpine Republic has more than 500 banking organizations, which employ 4% of the total population of the country. The financial system of the country is divided into several categories:

• National Bank of Switzerland;
• Large universal banks;
• Canton (regional) banks;
• Private banks.

Private organizations are mainly engaged in servicing high-net-worth clients.

An example of a personal account of one of the Swiss banks

They don't do lending. Their main task is to manage clients' money.

There are a number of features that any financial institution operates on.

1. Independence from tax laws.
2. Modern information security technologies.
3. Linking a deposit to a numbered account.
4. Strict control of banking activities by the government.
5. banking secrecy.

Switzerland's tax policy is designed in such a way that it does not concern the banking sector. Therefore, all income arising from the interest of the deposit (or from trust operations) is wholly owned only by its owner and is not taxed. Whereas other countries set a profit tax of 10-50% on banking operations.

Modernization of financial organizations gives a 100% guarantee for the protection of information from hacks. Checkbooks are slowly becoming a thing of the past.

The amount of tax payments in the various Swiss cantons

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

Another step of additional protection against information leakage is numbered accounts. Its Roma is a replacement for a nominal account, but instead of personal data, a numerical set is indicated. Nevertheless, the identity of the owner is known to the bank, but a limited circle of people from the management has access to the data. Using a numbered account, a client can pay or transfer money and remain incognito.

The longevity of the financial pyramid in Switzerland is mainly due to the excessive control carried out by:

“Deposit in a Swiss bank” is a phrase familiar to many Hollywood films, but not everyone knows that anyone can become the owner of their own deposit in Switzerland. Why a Swiss bank? The expression "Swiss bank" has become synonymous with stability, high returns and investment security. Historically, Switzerland has always remained neutral in relation to the events taking place in the world, so the country's economy has developed steadily and systematically.

To date, the following rules for opening deposits are in force in Switzerland:

1. All persons residing outside this country can open a deposit in Switzerland.
2. Opening an account lasts from 1 to 7 days after the bank receives a complete package of documents from the future depositor.
3. The minimum amount depends on the selected financial institution. On average, the minimum deposit is $5,000. Deposits for a smaller amount can only be opened by residents of Switzerland.
4. Swiss banks open deposits in Swiss francs, US dollars, euros, Japanese yens and other base currencies (at the choice of the depositor).
5. You can open an account in Switzerland online. To do this, you need to go to the website of the selected bank, get information about the list of documents, provide completed and signed forms of contracts, certified originals of the necessary documents and send them by mail to the bank in Geneva.

Advice: if you are offered intermediary services for opening a deposit in a Swiss bank without providing original documents, then it is better to refrain from such cooperation.

What documents are required to open a deposit in a Swiss bank?

The list of documents depends on the chosen depository, but there is a basic list that is mandatory for any Swiss bank:

• a copy of the national passport certified by a notary;
• a copy of a foreign passport (if any);
• confirmation of place of residence - usually the bank requires a bank statement indicating the address of registration or a utility bill for the last 3 months, which indicates the data of the depositor.

As additional documents, the bank has the right to request from the client information on the origin of funds and its confirmation.

What are the interest rates on deposits in Swiss banks

Swiss bank interest rates are ridiculously low. The minimum return on deposits is 0.10% per annum, the maximum is 1.5% per annum. By the standards of Russian investors, this is a penny, because many Russian banks offer much higher interest rates. With regard to Swiss banks, the principle works - "the more reliable the investment, the lower its profitability." So why do you need an account in Switzerland if the interest rates are practically zero? The answer is simple - a deposit in a Swiss bank can be considered as a depository for the borrower's free funds. For example, if you don't know and don't lose your money, then a Swiss bank would be the best place to do it.

How to increase the return on investment?

Definitely, 0.10% per annum does not suit most savers, so they are looking for ways to increase their income, in particular, through trust management of savings deposits.

Trust management is a service that allows you to transfer the management of your funds to a professional trader who trades in the financial markets for this money and thereby brings income to the account holder.

The client needs to open a special trading account on which trading operations will be carried out. Next, you need to choose a manager based on the expected profitability and his trading strategy. The average yield on PAMM accounts of Swiss banks is 10-12% per annum.

Which Swiss bank to choose?

At the beginning of 2017, there are 327 financial institutions in Switzerland. The largest banks are UBS and Credit Suisse, which account for more than 50% of Swiss deposits:

• UBS is the largest bank in the country, providing financial services not only in Switzerland, but throughout the world. Included in the list of 29 significant banks in the world.
• Credit Suisse - created in 1856 specifically to invest in the construction of railways and the industrialization of the country;
• The Swiss National Bank has been operating since 1906. SNB shares are highly quoted on the stock exchange, which indicates the reliability of investments in this bank.

Conventionally, Swiss banks can be divided into 3 groups:

1. State-owned banks whose main goal is to stabilize the liquidity of the Swiss franc;
2. Cantonal banks - take care of the safety of deposits, provide mortgage lending to Swiss citizens, regulate, maintain the stability of the country's economy as a whole;
3. Private banks - their activities are aimed at working with foreign citizens who trust them to manage their investment portfolios, open foreign currency accounts, carry out, etc.

Swiss banks occupy a leading position in the list of the most stable and reliable organizations in financial terms. Deposits in Switzerland serve not only as a means of preserving your savings, but also as a way to increase them.

Most investors who want to lose their investments in the long term, which cannot be said about deposits in banks in Switzerland, where all customer funds are insured by the state.