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Open bank account in Switzerland for not-residents
Switzerland is historically famous for its high level of privacy and stability. Although recent law on banking protection of customer information and assets has changed Swiss banking sector, it is nowadays well-favored by both residents and nonresidents as Swiss banking system provides a friendly environment for banking services, modern solutions, security and wealth management. Whether you need a personal account or a business account, you don’t have to strain to get one! The Swiss Bank law allows nonresidents to operate a bank account as long as they are above 18 years of age. Restrictions on getting an account are minimal, though each customer needs to prove its identity and provide documents confirming the origin of funds. Above all, Switzerland has a strong currency with by far the highest gold reserves per capital of any country. This makes Switzerland a favorable and impressive banking system.
Most of the clients choose Switzerland for its leading role for investment, wealth management, corporate and trust services. As we currently see Swiss major banks welcome fin-tech and technological innovation companies. Whether you need a personal or corporate account, with the Switzerland banking account you will find a perfect solution.
Managing a personal and business bank account in Switzerland
With various bank accounts options you can be sure that your financial targets be brought into line with your needs. Whether it is a personal account, saving account for your significant others or corporate account for your business, Swiss banks have the right option you need. The good thing about Switzerland is that with convenient e-banking services you can access and manage your account anytime you need. A corporate account is well-known among entrepreneurs and is favorable for daily banking, capital increase and investment of surplus funds.
What are the benefits of having a business account in Switzerland?
Together with company formation in Switzerland, clients think about opening a business bank account with one of Swiss banks. At a glance, there are numerous benefits you will gain once you acquire a bank account in Switzerland:
- Swiss banking services are transparent and give the account holder a clear view of all account movements in real time.
- Swiss bank account is flexible to operate – you can maintain it on credit basis or by use of an overdraft facility.
- Swiss clients enjoy all-around service – this comprises credit cards and payment transactions to name a few.
Is it possible to open an account online in Switzerland?
To become a client with a Swiss bank, you can apply for any account online. However, if the desired bank has a branch in your country, you can seek assistance with them.
If you are an existing client, you are allowed to open additional accounts through e-banking. Amazingly, this can be done using foreign currencies. You can deposit or withdraw any amount you need at any given time.
What is the procedure of opening a bank account in Switzerland?
You can remotely open and operate an account in Switzerland. Note that documents can only be sent via post other than using an email. Some other banks can allow representatives to present documents physically on your behalf. This gives you a better chance for checking the banking policy with the bank you have selected.
Below is a procedure of getting an account with a Switzerland bank:
- Choose a bank that will best meet your banking needs
- Ask for an application pack from them, that explains the process of opening and operating their accounts
- Prepare necessary documents as requested by the bank
- Fill in the application and choose to bank services
- Once your application and documents are approved, you or your representative may need to visit the bank or its branch, or alternatively sign and send the documents by post
- Then you will get access to your Swiss account through e-banking
What documents do I need to submit to Swiss bank?
You might be wondering the type of documents that you require opening and operate a Switzerland bank account. Below is the commonly requested documents, although they may vary depending on the bank you have selected:
- Proof of your identity – usually, they will be asked you to send your current passport or passports.
- Proof of a residual status – this comprises of your visa, work permit or resident proof documents
- Proof of address – you can give a utility bill issued not later than one month or official correspondence.
Usually all documents should be translated into English and certified by a notary public.
What are the major banks in Switzerland?
It is always advisable to opt for banks that have a long-standing history of good performance and reputation. Below is a list of leading banks:
- Credit Suisse Bank
- Raiffeisen Swiss Bank
- Julius Baer Bank
- Zurich Cantonal Bank
- Vontobel Bank
- Banque cantonale de Genève
- Habib Bank
- Pictet Group
What if I want to close my bank account?
Your existing account can be easily liquidated at any time. You can be sure that you withdraw or transfer your money before closing the account with no restrictions.