How to Open a Swiss Account
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A Swiss Bank account is not to be confused with a Swiss Private Bank Account. Swiss Private bank Accounts offer the highest quality offshore banking services available. There are many reasons why a corporation or a firm or even a private citizen choose to open up a Swiss private bank account. Swiss private banking is the most prestigious banking in the world. Private bankers build up strong relationships with their clients helping them to ensure a more financially prosperous outlet for them. Private bank accounts in Switzerland are usually only offered to clients with $300,000 USD to deposit or consistently outstanding growth in business/personal revenue.
- Be assured that the Swiss bankers are the most prestigious and experienced private bankers in the world. Swiss banks welcome accounts from all over the world. The main reason for many people wanting a Swiss bank account has to deal with the legendary privacy such accounts provide.
- Know that the Swiss have some of the tightest regulations in the entire world as far as who can gain access to your account. If you’re looking for a way to “protect’ assets from snoopy investigators, a Swiss account can be the ideal place.
- Have confidence in the fact that bank secrecy is not lifted for tax evasion. This is because failure to report income or assets is not considered a crime in Switzerland. As such, neither the Swiss government, nor any other government, can obtain information about your bank account. They must first convince a Swiss judge that you have committed a serious crime punishable by the Swiss Penal Code.
- Be comfortable in realizing that your secrecy will not be lifted for private matters such as inheritance or divorce if you have kept your banking information strictly confidential. It is up to plaintiffs to prove that the account exists if they wish the judge to pursue the case.
- Open an account via the Internet. Swiss private banking tends to want a minimum of $300,000 to open an account.
- Most Private Banks in Switzerland can arrange for a personal banker to meet you in a place of your choice, at your convenience.
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Good advice Freeman…You always hear about millionaires that get caught up in “the IRS system” and stripped of their known assets, but still having money hidden somewhere oversees. Although I don’t quite have over a quarter mil yet, it’s nice to have an idea of what to do when I get to that point.
Thanks
I was just on the verge of researching offshore banking..and thought to my self..”Let me swing over to R&G to see what Freeman and the Gang are discussing today..low and behold I found my answer. Love how we all trading info and making ourselves better businessmen and businesswomen!
@BG – That was my goal to put the information out there so when you get that money you know where you can take it. It doesn’t necessarily have to be something illegal going on as the more money you make the more private you want your business transactions. It’s a legit angle it’s just it only makes news when all the criminals have money in it. There aren’t enough criminals in the world for that bank to exist so there must be a lot of regular old wealthy cats who find it to their benefit.
@Kozi – I was researching it myself so I thought I would put it up on the R&G for everyone. If we all share what we are doing and looking at we all benefit. I know this seems way out to most cats but that’s because they haven’t really thought about their own personal empire.
That’s all you need? I thought you needed $10 million+. Shows you how small I’ve been thinking. Good looking out for this one. This is what I’m talking about…next level game. Am I crazy or do I feel now since you put it out here..I gotta have it instead of the high priced luxury car/home.
The game is not a either/or it’s a both. So why not get your chips up to the point where you live it because you really got it. Nothing wrong with having the finer things in life. Don’t sweat it the way cats talk about Swiss Bank Accounts you only hear it on Wall St so of course everyone implies it’s big chips. 300K is doable but it’s better to put 300K in there when we personally have 30 Million in our empire.
Great info Freeman! I know this is just to whet the appetite, but offhand one question hit me: if you have to transfer funds from your account here, would that create a paper trail? I’m sure the answer is for the looking (which I’ll do gladly) but do you know how you would move an unspecified large amount of cash from here to there without alerting anyone?
Nope! LOL I’m sure that’s why they said the Swiss Banker cats will personally come and talk to you about moving money into their bank. They will be able to do it without anyone knowing it left for sure. That’s a problem for when we get there but if you’re there right now then I’d suggest you give one a call and see what they advise.
Not there yet but I will be! Thanks for the info.
Could you touch on (either with a post or future podcast perhaps) how you decide if a venture is worth doing? The first thing that comes to mind is gut instinct but that can’t be all there is. Don’t give up too much of the game but if you could maybe give an overview of how you analyse a chip opportunity I’m sure there’s a lot of us that’d be interested.
Sure, but here’s the quick way I determine if a opportunity is a opportunity.
1. Will it Sell
2. Can I get it for Cheap
3. Is it something I feel people should buy or something that people want
4. Is it a niche product and am I offering something unique
5. How much money do I have to layout to make money
6. Is it the right time or are people still stingy with the chips because of the recession
7. Do I need more than myself to bring it into being
8. Is it a homerun or a bunt or a single
9 How much money can I really make! Now what I hope but what’s realistic
10. Have I really did my research or am I reacting emotionally to the opportunity and the chips
11. Do I really know what the hell I am doing?
I usually go through maybe 40 questions in my head within 5 minutes of any opportunity. My mindset is squarely focused on whether I will make money not on how I will feel if it blows up.
This answer is for Miles about how to transfer money. If you want to move cash from one country to another it cannot go over 10 grand. Anything more than that and you will have the feds questioning you on why you are moving so much cash in the first place. Even if you transfer money digitally from one bank to another here in the US they will make you fill out some paperwork because of the Patriot Act things like this are very time consuming. Although some of the Swiss banks have a few branches here in the US but are considered private and only opened to a very special clientele. Off shoring is also used quite bit but you will have to find someone who is very knowledgeable in that area. i even heard that if you are a US citizen most banks will turn you away because of the enormous amount of paperwork they need in order for you to use them.