Swiss Banks - The Best in The World?

Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships: calendly.com/m...
You can visit our websites for more information about us: offshorecitize... & www.offshoreca...
Swiss Banks have been widely considered for a very long time a premier name in international and offshore banking.
Swiss banks for the longest period of time have been a code name for bank secrecy, and were considered the best and the safest banks in the world.
The secrecy of the Swiss banks changed in 2009 when the IRS broke EBS and later in 2011 when they broke Credit Swiss.
Because of that banking secrecy is a thing of the past. However, the sophistication and the quality still remain when it comes to banking in Switzerland.
The story of banking secrecy predates from before WW2 when lots of money was brought into Switzerland. However, times have changed and many Americans were using Swiss banks to hide their money from the IRS. American government and the IRS came after Swiss banks for this, but they didn't care. Tax evasion is not considered a crime in Switzerland and banks wanted to protect the privacy of their clients.
IRS threatened to arrest top Swiss bankers unless they give in. This is how Swiss banking secrecy ended.
What about today? Is banking in Switzerland worth it? I would say it certainly can be for the right people.
This is especially the case when we talk about private banking and wealth management.
In order to qualify for these accounts, you'd need to deposit the minimum of 500 000 USD. Realistically they would want you to put down around 2 million.
One thing you know for sure is that your money is extremely safe in Swiss banks. I'd certainly feel more comfortable putting larger amounts of money in Switzerland than in places like Cyprus or Portugal.
Another great thing about Swiss banks is that they will put an effort to understand your business, even in cases when other banks will simply shut you down - such as crypto profits.
Also, you will be able to get any credit card that you'd want. Golden Amex Card? No problem!
Keep in mind that you'll need to prove your source of funds, as they do quite extensive due diligence.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
Feel free to join our community!
Don’t forget to subscribe to our channel
/ @offshorecitizen

[@patienceisalpha]

Swiss bank = 35chf/month dubious banking package with embedded fees and a direct optical fiber cable to the IRS datacenter.

[@gopherlee9427]

ROFL!!! Singapore is an overrated legacy brand. Singapore is way better. Plus Europe is declining and Asia(minus Japan) is rising.

[@Bambotb]

@@gopherlee9427 irs has access to everywhere including Singapore

[@mobileandroid5299]

@@Bambotb - Not true, but if I tell then I'm f*cked. Americans have a BIG f*cking mouth and like to brag! There are NO mutes in prison! EVER!

[@Andy_OvaSeas]

Great video for dispelling some old myths and rumor's. Keep creating super relevant for Investing nomads. Thanks.

[@OffshoreCitizen]

Thank you! Appreciate the support. Anything else you'd like to see?

[@Andy_OvaSeas]

@@OffshoreCitizen Yes. You have mentioned some ideas for Crypto investors looking to take profits. I am looking to invest some profits into CBI programs (Investment Property) in the likes of Turkey and Portugal. Some content on how such an investor could best manage a multinational property portfolio in a tax efficient way would be well received. Thanks

[@molinaridiego]

US Embassy in Switzerland has a page with all the "Where Americans are Welcome" banks. At the end of that list, you'll find Corner Bank. When you try to access Corner Bank's website from the US, it is restricted. It is embarrassing that US Citizens and Legal Residents (or any other type of Taxpayer who reports foreign accounts) are at the same level of Iran, Cuba or North Korea.

[@stephenday4834]

I think you may have that a bit sideways. Banks find it hard to deal with Iran, Cuba, and North Korea because of the threat of US embargos. Citizens of those countries can open bank accounts anywhere, they just can't transfer money to our from their home country. The US subjects banks worldwide to their regulations if they deal with US Persons. Those regulations are so expensive and intrusive it's often easier to just refuse US Persons than follows then. Citizens of Iran, Cuba, North Korea are not toxic to a bank, tonly he countries are. US Persons are actually toxic to banks.

[@stephenday4834]

Mobile autocorrect went crazy with that reply. Random words substituted randomly.

[@FJF119]

Fuck the IRS & FATCA

[@FJF119]

UBS and other Swiss banks should have given the IRS the middle finger , closing their US locations ................ Simple

[@awswitzerland]

Americans can easily access a Swiss bank account and Swiss wealth management services through a Swiss wealth manager registered with the SEC as an investment advisor.

[@hrishikeshio]

Audio is cutting off often

[@OffshoreCitizen]

There have been some problems with this video yes. Sorry about that :/

[@frankfunk9188]

That's good info, Michael. Which banks would you say are most accommodating of (large) crypto incomes?

[@michaelgreen8525]

Cheers I just started using CIM so was interesting to hear you mention other options. You finally made it home then from Dubai?

[@dr.winner2516]

I think a lot of movies had some truth with regards to Swiss banking secrecy, and that's where people get the impression, but unfortunately that's outdated

[@romainr4275]

Swiss banks have outdated systems, if you like online banking forget it.

[@snterp]

That used to be true, but they have and are improving very rapidly in that regard. I think his analysis is spot on in this case. The fees are high, but they are more sophisticated than most other banks. Is it worth it? You decide.

[@AVAM..]

As much as I know St. Galler Kantonal Bank is opening accounts only for Swiss residents and not for foreign residents except some few exceptions. Here is Credit Ratings of Swiss Banks.. some of you might be interested: www.moneyland.ch/de/bankenrating

[@venusreena2532]

I like online.. Interactive Brokers seems to be a plan

[@brp361]

Not a big fan. I used to live there and once I moved out of the country they started charging me something like 25usd per month just for the privilege of holding a normal account. Not to mention, no interest of course. That was the signal to move it out. Obviously if you're a big time player who is putting a lot of money there, they probably won't levy that charge on you.

[@rivenoak]

you moved out = you became a non resident. why do you think you were entitled to same conditions as residents ?

[@user43643]

could you put timestamps in your videos?

[@OffshoreCitizen]

Good suggestion! Thank you

[@chengxu3335]

Where do you prefer to have the private banking account in Swiss or in Singapore？

[@dexterspeights3484]

Singapore is the best choice for high rollers!

[@Bambotb]

@@dexterspeights3484 why ?

[@rivenoak]

13:10 why do you think CH would be happy with usa after the shenaningans with UBS officials threatened etc. ? switzlerland signed FATCA agreement but shortly after the swiss banks showed each and every US customer the door. FATCA is pretty off the table now, the banks are not obliged to put any efforts in the bureaucracy as they simply deny US citizens _any_ service. :) renouncing US citizenship is the only way to get a swiss banker interested again.

[@FJF119]

Fuck the IRS & FATCA

[@giuistefanjr72]

What is the best swiss bank to deposit your money as a E.U citisen?

[@OffshoreCitizen]

Depends a lot on your needs. We find a number of them are quite good but need to discuss your specifics to say

[@Bambotb]

Why not Luxembourg seems safe

[@walterkocher]

Swiss Banking Secrecy is NOT a lost "thang". Your message is flying over details.

[@mooie3]

What fees do your clients usually get in Swiss banks ?

[@OffshoreCitizen]

For what? The idea isn't to hold deposits, it's too buy bonds, stocks, funds, precious metals. Unless you're asking about borrowing rates, which were as low as 1% though obviously up now

[@mooie3]

@@OffshoreCitizen Thanks for the reply. no for actual custody/transactions? i.e. how much will it cost to hold several millions in a good swiss bank account?

[@merrykrichtsamt]

Switzerland lost also the neutrality. There is no point in banking there anymore. Expensive and very poor service, this is switzerland. With the collapse of cs, the country has been defined a banana republic.

[@Bambotb]

Definetly agree with you

[@ВикторияВаркиева]

Offshores should be closed in whole world. Cause poor becomes poorer, rich more rich Zelensky owns a Villa in Forte dei Marmi, a $45M beach in Florida and $1.3B offshore Christian Wulff, ex German President and key Merkel-ally, dodgy loans case, Egon Geerkens

[@mobileandroid5299]

hahahaah

[@Bambotb]

You contradict yourself, zelensky is a goverment thief as usual if anything you should advocate for banning taxes nit people running away from them because they don’t want them stolen by government

[@Bambotb]

I guess no