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Swiss banks managed almost a quarter of the world’s private wealth remain as a center of international banking. The sophisticated service offered by Swiss bank remains as the first class banking services. Due to the changing banking landscape as profiled by the international organization OECD and FATF, account opening is complex nowadays. Opening an account without a personal introduction and professional assistance is very challenging. Here are some key notes for your company's Swiss account opening that you should attend to:
1. Documents of Swiss Bank for a Trading Company Account Opening :
i. Copies of corporate documents. ii. Copies of passports and CVs of all directors, shareholders, and beneficial owners. iii. A short written presentation about the company’s activities, with a description of its products and services, markets, and expected transactions. iv. Accounting reports for the last reporting period. v. Invoices or contracts with key partners.
Upon review of the documents and the bank considers that the applicant is favorable, the bank will send application form for account opening.
2. Non-preferred business The Swiss bank usually dislikes companies operating in the following manner:
i. A company using nominee. ii. Business in gambling, casinos, diamond trading, trade in art objects, dealing with third party funds such as payment system, exchanges, brokers, defense industry, adult related business.
3. Non-favorable countries/individuals
Like other bank in the globe, Swiss bank has restricted companies registered in certain countries or restriction for individuals:
i. BVI ii. Hungary iii. Germany iv. Italy v. Cyprus vi. Mexico vii. United Arab Emirates viii. Russia ix. Turkey x. Ukraine xi. Sanction countries/individuals
Other than the above, the process would be more or less similar to company account opening in other offshore jurisdiction.
Whatsapp : (852) 6499 4686 Phone : (852) 2186 6936 Email : info@intershores.hk
Disclaimer: Whilst reasonable care has been taken in provision of information above, it does not constitute legal or other professional advice. INTERSHORES does not accept any responsibility, legal or otherwise, for any error omission and accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, readers are advised to take appropriate professional advice before committing themselves to any involvement in jurisdictions, vehicles or practice. |
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