Why Wealthy Americans Love UBS, The Secretive Swiss Banking Giant

UBS Group AG, with over $5 trillion in invested assets, is Switzerland's largest bank. The company has a sprawling international footprint, with over half of its wealth management assets coming from clients in the United States. Experts believe these customers are drawn to strict bank-client laws in Switzerland. In recent decades, scandals have embroiled both UBS and its latest acquisition, Credit Suisse. After regulators quickly approved of the merger, fresh litigation risks have come to light.
Chapters:
00:00 - Introduction
01:16 - Secrecy
03:08 - Mega banks
06:24 - Acquisitions
09:41 - Capital assets
Producer: Carlos Waters
Editor: Emily Sternlicht
Supervising Producer: Lindsey Jacobson
Graphics: Jason Reginato, Andrea Schmitz
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Why Wealthy Americans Love UBS, the Secretive Swiss Banking Giant

[@AskMiko]

This video deliberately leaving out that US citizens must report bank accounts in Switzerland to the federal government is interesting. These banks charge clients for the compilation of documents and sending it to US tax agencies. There are specific types accounts they don’t report such as retirement and special investment accts

[@pa5666]

I thought the whole point of the video was that US citizens use these banks to hide their money so obviously while it's required that they must report it to the US, what's stopping them from not when the bank will clearly shield them...?

[@markfitzpatrick7186]

And that the US is the only OECD country that refuses to participate in Common Reporting Standard. This has allowed the US to become the world’s largest tax haven in 8 short years according to Tax Justice Network. CNBC won’t report that - it is a much larger and more serious problem.

[@dennisaleander5175]

So American citizens can have a retirement account with a Swiss bank and the Swiss government won’t report the account to the U.S government?

[@markfitzpatrick7186]

@@dennisaleander5175 there are effectively 3 types of accounts: 2nd pillar is not reported by the financial institutions. These earn almost no interest. US tax rates applied on top of Swiss so these accounts effectively have negative interest rates due solely to US double taxation 3rd pillar is reported and US tax rates are extremely confiscatory. This is an important part of retirement planning and Americans living in Switzerland are effectively barred from participating. Finally there is private investment. These are reported by the financial institutions. Americans may not be able to get these kinds of accounts unless you have at least 250k to invest. US PFIC rules will apply so taxes will be extremely high and filing costs are in the thousands each year so this is not practical for lower net worth individuals.

[@AskMiko]

@@dennisaleander5175 Yes they can!

[@Raymondjohn2]

Several of the biggest market experts have been voicing their opinions on exactly how awful they think the next downturn would be, and how far equities may have to go, as recession draws closer and inflation continues.. well above the Fed's 2% objective. I'm trying to build a portfolio of at least $850k by the time I'm 60. I need suggestions on what investments to make..

[@hermanramos7092]

I'll suggest you find a mentor or someone with experience guide you especially in this recession. especially for your 401K, IRA and portfolio diversification.

[@lipglosskitten2610]

I agree, that's the more reason I prefer my day to day invt decisions being guided by a init-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a init-coach for over 2years+ and I've netted over 2.8million.

[@bob.weaver72]

@@lipglosskitten2610 I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think your Inv-coach could guide me with portfolio-restructuring..

[@lipglosskitten2610]

@@bob.weaver72 I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think your Inv-coach could guide me with portfolio-restructuring..

[@bob.weaver72]

@@lipglosskitten2610 Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted Catherine’s full name into my browser, and her website came up first in search results. She looks flawless.

[@jamesturner4683]

Like other commenters have written, this video is inaccurate. Banking secrecy for foreign depositors in Switzerland is largely a relic of the past. High fees and low returns mean there is little point having a Swiss account unless you need to do Swiss based transactions. Swiss banks largely trade on an idea of superior quality and service but customers largely get a bad deal.

[@TokyoTaisu]

Not true, there's a lot more freedom than in the EU and fund costs are 50% those of Luxembourg, which is increasingly focusing on UHNWI 1B USD and up. Together with the flexibility of Liechtenstein Switzerland still has a competitive edge.

[@dapred00]

@@TokyoTaisu Still, Swiss banking secrecy lost a lot to other banks from remote islands. More freedom than in the EU but a lot less to many others over the world.

[@TokyoTaisu]

@@dapred00 Like which remote islands exactly?

[@MrRooibos123]

​@@TokyoTaisuCayman Islands and BVI

[@Nobody-ov7cm]

​@@dapred00 they dont have a reliable economy like Switzerland there's a risk of losing money

[@AstaKristjan]

I am really worried about the current bank crisis. If a bank as big as SVB could fail, I fear for a lot more. I know a friend who is running a high-growth startup, and was badly hit by the bank run. I have pulled out more than $340k from my bank. After all, the FDIC covers only up to$250,000, and the implosion could have bad effect. Looking to invest into the stock market now. Does anyone know how I could go about it?

[@IrenaDolinsek]

We underestimate the fact that banks are corporate entities also governed by greed. Since 2020, the banks have been over-leveraging their assets, which was one of the reasons for SVB's implosion. I have never been okay with keeping much money in the bank. I simply invest through my financial advisor, collect my profits, which I then spend.

[@LarsBergstrom-uh2eu]

@@IrenaDolinsek I have learned to not trust corporations. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor, and it has been paying off, and I'm never going back to banks full time.

[@Erinmills98]

@@LarsBergstrom-uh2eu This sounds really interesting. I've been thinking of pulling out my money too. Could you recommend who your advisor is? I could really use some help.

[@Erinmills98]

@@LarsBergstrom-uh2eu Oh thanks for the hint. i will look at her page to know more about her services.

[@Arcwol]

Yeah, because this seems real. Lololol

[@Redwood4040]

Small taxes can affect investment decisions such as whether to choose tax-free municipal bonds over taxable bonds or do a Roth IRA conversion. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this without being taxed twice?

[@albacus2400BC]

The greatest method to navigate the stock market right now is with an investment adviser, especially for those who are close to retirement. I've been in contact with a coach for a while now, and I quickly made over $800,000.

[@louis71350]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

[@albacus2400BC]

My consultant is *Sharon Louise Count* She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision.

[@louis71350]

I Looked up her name and her website popped up immediately, interesting stuff so far, about to schedule a session with her.

[@hellosammy4105]

Switch your citizenship.

[@Arcwol]

I find it intriguing, yet concerning, how the banks are continually allowed to grow not just in size, but to a scale that deems them 'too big to fail'.

[@sachin2842]

rich makes the rules honey

[@maxpro751]

It’s just like South Korea, all the large corporations make up more than half of the country’s GDP. They are too big to fail, and the power they have is really immense.

[@kaustubhraizada]

by one steps banks can stop crony capitalism , stop keeping stocks as guarantee for loans

[@sachin2842]

@@kaustubhraizada Y would they cut their own business?

[@kaustubhraizada]

@@sachin2842 atleast central and public owned banks should stop this , private lenders can do whatever they want and central banks and other financial institutions should decide the valuation of companies

[@nukkun]

The video makes it sound like tax fraud is the main reason US wealth would be deposited in Switzerland today. That may well have been true 10 years ago, but I seriously doubt that's true since the AEOI agreement of 2017. There might be other reasons, like political stability, perceived safety of the Franc, relative lack of corruption, economic competitiveness...?

[@PenStallone-iz5mf]

Supreme Court Justices in the US should only have 16 year terms

[@julius5632]

Actually the US isn't part of the AEIO agreement. But thats due to them having their own system called FATCA (Foreign Account Tax Compliance Act), so your point still holds true.

[@nukkun]

@@julius5632 thanks for the correction. My guess is that the easiest (and legal) way for wealthy Americans to avoid taxes is to own a company and borrow money against the value of the business instead of earning a salary or dividends

[@pcaso]

There are better places to hide taxes within US like Delaware and where nothing gets reported.

[@emmynem6847]

Oh my god are you serious!

[@asdf-mg7tu]

under the mattress too works

[@pcaso]

@@asdf-mg7tu nopes. Govt can demonitize and make your paper worthless. Numbers can be transferred always from one book to another

[@Bambotb]

​@@weird-guyirs have acces everywhere now

[@Bulletno]

​@@asdf-mg7tuat your own risk 😂

[@adamsimmons7646]

Hey guys, how are you doing with your investments? I know the market has been crazy lately.

[@joehopkins9749]

@caseymuller3480 That's too bad. I'm doing okay, but I'm not very confident about my portfolio. I feel like I need some professional advice.

[@malcolmdoyle5385]

You know what, guys? I have something to share with you. I recently started working with Robin Brezik and it has been a game-changer for me.

[@adamsimmons7646]

@@malcolmdoyle5385 Really? What do they do?

[@malcolmdoyle5385]

@@adamsimmons7646 They offer investment advice and help me with my investment goals, building my portfolio and also retirement planning. They are very professional and knowledgeable, and they tailor their services to my needs and preferences..

[@malcolmdoyle5385]

@Casey Muller well, easy i found them online.

[@YourFoodBank]

Does that include the corporate executives that run CNBC?

[@kineticstar]

Definitely includes Fox and NewMax executives!

[@galupproperties3098]

@@RajbirSingh-ul1mw if I can avoid taxes I will too.

[@pr0n3]

All mainstream media run by old fossils with agendas. Glad there are better independent news sources around like Breaking Points and The Hill.

[@judyl.7811]

0:10 Swiss bankers are successful for their swiss proposition: 2:55 Its logo: security, trust, and discretion 謹慎 1:45 paying more and earning less for a reason. 2:10 half of the invested wealth assets are from USA. 3:20 global systematically important bank. 4:50 wipe out the CS bonds and governmental loss. 5:40 risky instruments: contingent convertible = additional tier 1 debt. 7:45 the flagship wealth management arm. 8:50 stability and risk aversion. 11:30 we are at the beginning of a new phase.

[@User-hz5vz]

You're a genius judy

[@user-rt9eu1fj3f]

Engaging in an individual option is fair but its performance level can’t generate high dividends. Diversification is the secret to optimal performance, that’s why I have my interest set on options based on projected growth and performance.

[@NilsaWilkerson]

To create high dividends, it’s wrong to engage in a single option rather than diversify into various options with high performance coupled with the aid of a Pro will generate higher dividends

[@LynGrengs]

Do not lay your eggs in one basket.” I engage on various options with the aid of my pro, *JENNY PAMOGAS CANAYA* and so far have acquired so-much

[@KatrinUriegas]

I just searched *JENNY PAMOGAS CANAYA* out of curiosity, her profound dexterity looks too ideal for everyone on board!

[@TonyaDepaola]

I am amazed by this, it has rekindled the fire of my goal

[@ningyen1444]

When you invest, you're buying a day you don't have to work

[@udehsamuelchidiebere9009]

Assets that can make you rich Bitcoin Stocks Real estate

[@maxiecharles2842]

You're right Sir, it's obvious a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to remain poor

[@lindapoplin7150]

It's not ignorance but due to some unprofessional broker in the market

[@royalhighness8383]

Obviously trading in bitcoin is very volatile and risky to trade that's the reason most traders trade with a company

[@royalhighness8383]

Learn and trade under a guide I do same and I hardly make losses in the market

[@paestum70]

And no mention of FATCA whatsoever? Bizarre....

[@evoniics9572]

Swiss franc inflation is around 3%. One of the reasons why you should have some money in Switzerland.

[@VisionaryPoudel]

11:48 m😊m

[@jimbojimbo6873]

UBSs returns are not lower than other countries thats a lie, they are a wealth manager not an asset manager they can still invest in exactly the same thing. Secondly the fees aren’t as high that’s again a lie, UNS with its scale will easily offer better rates than a Raymond James.

[@julius5632]

And no mention of FATCA? Thats really mendacious...

[@philipwels8480]

Absolutely 🎉

[@tigerzero9939]

Why does a clip of Jean-Claude Trichet stating "we knew Credit Suisse had problems" appear out of nowhere? And why is the british dude's clip pasted onto a fake laptop?

[@user-zc1jv3pe5c]

Been wanting this video for so long, thank you soo much !! Love from India

[@stephaniehale946]

*UBS = United Bandits of Switzerland*

[@User-hz5vz]

lol

[@iknujbyhvtgcrfxedw-nb6ew]

thank you very much

[@steve0003]

UBS needs to look at customer service and development for further growth more not the past.

[@Continentalmunkey88]

Continental Market directives - Realistically , give public has about 121 days per year ( 365 days ) of positive market impetus, (about one joy per 3 days or 72 hours), (like a rampup and ramp down of dopamine)

[@marlandodaubon21]

Best bank ever

[@iknujbyhvtgcrfxedw-nb6ew]

respect

[@lancestevenson9523]

Consolidation for a fraction of the price of a real m&a. Anticompetitive. The hsbc svb and ubs ca acquisitions are borderline “loans for shares” scheme era indicators. The currency is becoming devalued but the underlying asset is worth much more

[@happytractors780]

Weird as UBS SFA was sold to Vontobel a few years ago. Yes there are UBS American Advisory services. But UBS -sfa no longer exists.

[@seb_617]

The “Senior Washington Correspondent” should stick to commenting about Washington because he’s clearly out of his depth here. Swiss banking secrecy for US citizens is now largely a thing of the past with e.g., FATCA and there are far better places to park illicit gains, including in Delaware. Let’s stop with the sweeping nonsense that the only reason people would bank in Switzerland is because they want to evade taxes. Expected better from CNBC.

[@starvingbymidnight]

I’m really worried about my $10 I have in savings if these banks keeps collapsing 😩

[@weird-guy]

Be assure it is safe,don't worry 😂

[@hellosammy4105]

Well, that’s well within the insured limit, so you’re really worrying for nothing. Tell you what. Why don’t you give me $100, and in the event your bank fails and the government doesn’t refund your $10, I’ll return you $150.

[@marykennedy8971]

YOUR PASSION FOR TRADING IS CONTAGIOUS! WATCHING YOUR VIDEOS MAKES ME EXCITED TO DIVE DEEPER INTO THE WORLD OF TRADING.😂

[@EllaxiosEllahim]

It's very easy to create financial stability all you need is knowledge and passionate towards your intentions with very very high quality of solid loyalty with the right of conducts of every actions and words off honour comes with goodwill ❤trust

[@BrandonClark-StocksPassports]

I have a UBS account. Love em

[@Failucation]

Terrible video with no mention of FBAR or FATCA. Clearly very little research was done on the hoops Americans have to jump through when keeping money in foreign bank accounts

[@finalruner]

Strange beeping in the background of this video

[@carlgodfrey4482]

You know your poor when only big bank you know is Bank of America

[@pa5666]

😂😂

[@asdf-mg7tu]

bro 😂😂

[@michaela.178]

At best, this piece is really poorly researched, having worked for various Swiss banks including UBS and CS I can tell that specifically US citizens are neither able nor welcomed to hide funds. The US managed to dislodge Swiss banking secrecy for individuals with US exposure - hence these better bring a lot of funds to make it worth the special setting and the headache that comes with it. Some banks might decline at all. Swiss bankers like to point out that some US states nowadays provide more secrecy. Also, the purchase of CS by UBS with its pretext and consequences is not represented accurately.

[@ameenahnadirah8895]

Thanks for the accurate information...do you still work for the banks in Switzerland ?

[@ThiFonseca-ct4xy]

Der Kryptomarkt ist seit Monaten ungünstig und ich verliere immer wieder mein Geld, indem ich es bei Abschwüngen verkaufe. Ich habe im Moment große Angst davor, es zu halten. Wie verdient ihr denn immer noch so viel?

[@stevankohn]

Sich ohne die Hilfe eines Profis in die Handelswelt zu wagen, zu handeln und Gewinne zu erwarten, ist, als würde man Wasser in Wein verwandeln. Dafür bräuchte es ein Wunder. Deshalb handele ich mit Frau Norah Kelly, deren Fähigkeiten außergewöhnlich sind?

[@JavierSantiago-le1lc]

Wenn Sie investieren, kaufen Sie einen Tag, Sie müssen nicht arbeiten, denn das Investieren bei Norah Kelly ist das Schönste im Leben

[@Joapedro-ef4lu]

Ich bin überrascht, dass du sie auch kennst. Ich habe in den letzten Monaten viel Gewinn damit erzielt, mit ihr zu investieren.

[@OmarNabila]

Wow, toll, andere zu sehen, die mit Frau Norah Kelly handeln. Ich mache derzeit meinen fünften Handel mit ihr und mein Portfolio ist enorm gewachsen.

[@SarahAmber-fr5ry]

Dies ist nicht das erste Mal, dass ich von dieser Frau und ihren Heldentaten in der Handelswelt höre, aber ich habe keine Ahnung, wie ich sie erreichen kann

[@artsyhyd]

“In Switzerland u can go to prison for revealing clients’ details!” How good, whereas in my country it’s totally the opposite; they sell the clients details to other companies so easily 😂

[@kaizentradersl]

Tnq ❤

[@gercilaineribeirodecarvalh4636]

Thank you very much teacher Jonathan Swisse.

[@juanpuebloknowyumama3831]

Im here 14 months later trying to figure out how ubs bank are holding Gme stock for long time? How can be possible all this time+ may 31th is coming people 😮

[@bassoonplayer]

if swiss banks now report data to IRS, what's the point of having one now?

[@nolanlobo3624]

On my laptop watching a guy on a CNBC laptop. Feels illegal. 😂

[@user-si6hp7yy9f]

Да этот тип внатуре знает что делает) красава конечно!)

[@Mr--_--M]

So nothings gonna change. Got it

[@Clonez-sr7to]

How about cover how UBS is being sued for breaking the law as we speak.

[@Doomedfools]

How do Swiss banks avoid the IRS requirements that they report US Citizen assets? When I was an international student in Spain and opened a BBVA bank account there, they needed all kinds of extra details from me to comply with IRS regulations. I've heard the same about Americans who open accounts in the Netherlands or Germany. What makes Swiss banks different? How they do dodge the IRS in a way no other country can?

[@Failucation]

They don’t, they either comply with FATCA or don’t accept US citizens. This video is incredibly misleading

[@VivaLegolastef90]

They don't, FATCA still hunts us.

[@patrikisgod]

this video is based on outdated info, even as a swiss citizen its really difficult to funnel US funds into a swiss bank, switzerland basically cut off us citizens from their banking privileges after that Oregon v Switzerland lawsuit a few years back

[@TokyoTaisu]

There's a difference between new accounts post American intrusion and legacy accounts.

[@happytractors780]

no thy closed the legacy account from my childhood many years ago... as a dual citizen they did not want my money. so I put it in Post Finance like the other dual citizens and pay 300 chf a year for the privelige

[@FBAagent]

It’s hard to follow the french dudes speaking. I am wondering how does his clients deal with his voice 😂😂😂

[@sitrakaforler8696]

FACTA CRS should have been a subject in this video.....

[@pleroma5924]

UBS and Rothschild BANK are AWESOME

[@IM2357]

Can anyone anywhere open a Swiss account if you have like a million dollars to hide?

[@aakksshhaayy]

You can open even if you don't have millions.. I have a account with UBS

[@SKAOG21]

@@aakksshhaayy depends on your residency. In terms of UBS, some countries have low requirements, while some require millions.

[@TokyoTaisu]

If you have a friend you can get with a million dollars. Without friends takes about 5 million dollars.

[@ravindertalwar553]

Regards From RAVINDER TALWAR JALANDHAR CITY PUNJAB INDIA

[@jared8t]

So the logo says STD?

[@Continentalmunkey88]

US sector 53 trillion, crown panes 121 trillion, global is 583 trillion but its all static frozen baselines

[@user-tb9yz8ih1o]

Cool ❤

[@saltymonke3682]

So what if people hide their hard-earned money from governments who have spending problems.

[@hellosammy4105]

Noooo. It’s greedy and selfish of you not to pay for the excesses of your fellow citizens and leaders. Shame on you!

[@saltymonke3682]

@hellosammy4105 ah yes, selfish for keeping my own fruits of hard work from useless politicians with even more useless programs

[@JHatLpool]

A good report.

[@seazea1941]

I used to be really big into finance and banking..... I'm not really sure what happened but all of a sudden. I just lost interest.😂😂😂😂😂

[@seazea1941]

Lmfao

[@SerCommander]

It must be the cheese!

[@vandietopia6803]

Saya memiliki Entah emas asli atau palsu tp bertuliskan UBS UBG UNION BAMK SWITZERLAND GOLD 999.9 R.2743 SWISS

[@S.Dadudida]

Hab das Gefühl man sucht einen schuldigen wenn das nicht klappt... Aber weshalb was habe ich den falsch gemacht??

[@mactastic144]

Raid all of their banks simultaneously, audit the UBS, and arrest the criminals.

[@JuiceTx01]

FATCA already did that bud

[@itsjustme114]

the swiss banking secrecy is long gone, that was like over 10 years ago

[@creativeembargo]

15 🤓

[@S.Dadudida]

Ich bin solange schon da dran letzte Nacht sind mindestens 50 Autos vor meinem Fenster und mir gefolgt. Und es ist das vierte Jahr und es wird nicht besser

[@khalidalali186]

Lol they wrote off $17billion worth of their own bonds. How is this not tarnishing the image of the Swiss banking system?! Not to mention the debacle after the UBS acquisition of Credit Suisse and that insane share swap.

[@dank9337]

UBS is holding the gme bag

[@4Realkevv]

Good for them they taxes us but dont put the money use were it needs to be putt

[@ronbali3429]

@CNBC you guys have a major spam bot problem.

[@americancivicsinstitute6801]

JAK

[@Chandankumar-qw6hb]

5 Trillion us doller for investment purpus only OMG

[@tombarse7252]

Might as well of had cramer narrate this, start the clock for the ubs collapse.

[@cryptoworldnews1872]

No FATF black list?

[@leviscrool]

I've been researching investment brokers and I'm really interested in working with someone trustworthy and reliable. With the recent market downturn I'm looking for a broker who can help me turn things around and make a profit Can anyone tell me about their experiences with any investment advisor..

[@khankrum1]

The Mafia became respectable!

[@salahuddineliaskhan3620]

#FBC Date: 1st July 2024

[@savannahmiddlefield616]

Hmmm banking become monopoly entities. Please keep banking with more choices.

[@TokyoTaisu]

Basically a cycle that happens everywhere, with money, power, etc. Everything concentrates, then it blows up, fragments, and concentration starts again.

[@tanthiennguyen9308]

Nein, ich möchte jede Unternehmen mehrere Sicherheitshalber...............................!

[@ShoppingwithRina]

Wow

[@ygt-cd3mg]

They can either follow swiss law and only do business in Switzerland or they can follow other countries law while in other countries.

[@henokmengsteab2177]

They can do both

[@PenStallone-iz5mf]

Supreme Court Justices in the US should only have 16 year terms

[@ygt-cd3mg]

@@henokmengsteab2177 clearly they don’t, other countries require disclosure of depositors names to the government. UBS does not disclose their clients name from the country the account holders from to the country they are doing business with.

[@Saigon1969]

Because this bank is a black market bank.

[@VivaLegolastef90]

CNBC is 20 years late to the party

[@S.Dadudida]

Danke und ich habe keine power mehr um hilfe zu bitten

[@bbsara0146]

Yea its good if your a russian oligarch or african aristocracy. but if you are a US citizen a ton of swiss banks want nothing to do with you

[@miscosas]

After the swiss banks took hostage or even stole money without any reasons from russian citizens ( not state money ) its the last place on earth where i gonna put a dollar 😂😂

[@pazzariatv]

There is no point to going through all of the hassle, just to get a Swiss bank account. Buy precious metals. Don’t tell anyone where they are. Problem solved. Easy. Simple. Done.

[@keepitraw1]

I work at ubs, they talk a lot of bs in this video in the first minutes

[@davidhogger4498]

Quite a judgemental, one-sided and poorly researched video. Leaving out all major changes on how the banking secrecy was lifted and on how tax relevant information is automatically shared with foreign government organizations such as the IRS. I guess it is always easier to play the blame game on foreign companies than e.g. shed some light on all the misconduct of the few global banks that all reside in the same country as does this news channel.

[@francisravenscroft-dw6gi]

UBS just has better political connections to cover what clients money is where 0n their books. Why is anyone not surprised that Switzerland has 'managed' to avoiad the current global inflation rises?

[@S.Dadudida]

Deswegen braucht mir auch keiner erzählen das ich kein Geld besitze.. Was sollten denn dann all diese Leute von mir... Die Leute zeigen mir nur das ich immer noch alles habe

[@user-ry2qs7xf9k]

*Yu vill eat bugzzz.* *-Schwab*

[@iknujbyhvtgcrfxedw-nb6ew]

I'm sorry

[@jackt8295]

Money Launderer’s bank.

[@ljohn8461]

Why are they saying century. I thought ubs is just new.

[@catsaretasty]

The new credit suisse 😂

[@J-wu8sc]

Came here to say this. Gonna turn your pockets into Swiss cheese.

[@gloriathomas3245]

One of the biggest misconceptions people have about Switzerland is the rich love the country because of it's low taxes. This is false as Switzerland has one of the highest tax rates in Europe. What makes places like Switzerland and Monaco attractive to wealthy people is their commitment to banking privacy but in the case of American that right to banking privacy is non-existent due to FBAR and FATCA. Another reason why Switzerland being a safe haven.

[@MASMIWA]

Yes indeed. Great place to hide dirty money and escape taxes by the US.

[@zionismisterrorism8716]

It's not private anymore with things like the EU.

[@yasskol8521]

Switzerland has defenetly not one of the highest taxes in europe, they are below average. I m swiss living in Zürich...

[@lulumink0]

What are you smoking? Switzerland has one of the lowest income tax in the entire Europe. Your second point about safe haven despite the fact that FATCA exists? I don't see any logic in that.

[@lesdickson9765]

Switzerland has a *corporate* tax rate that doesn’t exceed 11.5%.

[@user-yv4gg7jb2f]

100 years too late

[@angelevstatiev8522]

Здравейте на всички няма как 1gram silver ,da е пвече от 1грам злато 2923😊

[@hashimshaz2075]

Money Laundering Is Going Down.

[@sachin2842]

swizz not Suisse (suzie) lol 😆😆

[@tecumseh4095]

nope

[@sachin2842]

@@tecumseh4095 I was just kidding 😂

[@dr_flunks]

i hate them. they are shady and prevented me from having beneficiary on an employer account. they were just going to give my kids inheritence to the governemnt.