Liechtenstein vs Switzerland incorporation for a crypto-related company

[EliasIT]

Zug is not even a nice place to live. I lived there once upon a time. Its horrible to drive to and dead end. Vaduz is even worse.

Good to read a little inside from this place.

You need to bring 25 million before they even want to speak to you.

ahhhh....arrrrrr.....not sure if that is true!

I also formed a company in Georgia just to follow the process and see how far it could bring me but I never used the company because I failed to get a valid bank account or EMI.

 

[GPT]

25 mil is what UBS and CS now hold as minimum since this year for private banking. Got personal confirmation re this. So you tell me? Normally these two banks are the trend setters. Several smaller private banks already raised their thresholds for accepting you. What used to be 1 million became 5 a couple of years ago.

Not saying you won’t find a bank who will accept you with a lower then 25 mil amount. What it then does mean is that the service is worse and the fees even higher.

Re Zug; nice around the lake in the summer. I also wouldn’t want to live there with its grey square empty buildings which are mostly empty because they fulfill the domicile function for a company. Travel to and from Zug via the western motorway is good. The eastern route isn’t the best. Via train the connection is perfect.

 

[MiddleEuroAsia]

25 mil is what UBS and CS now hold as minimum since this year for private banking. Got personal confirmation re this. So you tell me? Normally these two banks are the trend setters. Several smaller private banks already raised their thresholds for accepting you. What used to be 1 million became 5 a couple of years ago.

FALSE. I've talked to some of them in the DIFC in dubai, and I don't know about CS but UBS will work with you with 2m minimum and Lombard Odier even less with 1m minimum. you just have to have your paperwork in order and you're good to go.

Yeah swiss banks have stick up their asses but they still "reasonable" to certain extent, they are expensive, but they are not THAT expensive.

 

[369]

My knowledge is that they demand you investing a % into their funds which basicly are invested in stocks which will crash.......so basicly investing in something you already know you will lose majority of these funds

 

[GPT]

higher

FALSE. I've talked to some of them in the DIFC in dubai, and I don't know about CS but UBS will work with you with 2m minimum and Lombard Odier even less with 1m minimum. you just have to have your paperwork in order and you're good to go.

Yeah swiss banks have stick up their asses but they still "reasonable" to certain extent, they are expensive, but they are not THAT expensive.

Well, I literally have this 25 mil from a private banking director from UBS confirmed. UBS does take you only with lower amounts when you live in the country. Not when outside.

From CS I have similar information from private banking department in general. In both cases the conversations took place in Zurich.

As said; not saying you won’t find a bank at all. Am saying that the threshold has increased substantially.

 

[369]

Well, I literally have this 25 mil from a private banking director from UBS confirmed. UBS does take you only with lower amounts when you live in the country. Not when outside.

From CS I have similar information from private banking department in general. In both cases the conversations took place in Zurich.

As said; not saying you won’t find a bank at all. Am saying that the threshold has increased substantially.

Get a residence permit.It will make things way easier.
Cost for it including some fake rental 1000 CHF but you will get totaly other proposals than being a simple foreigner.
Postfinance is very easy as resident

 

[Silvio]

25 mil is what UBS and CS now hold as minimum since this year for private banking. Got personal confirmation re this. So you tell me? Normally these two banks are the trend setters. Several smaller private banks already raised their thresholds for accepting you. What used to be 1 million became 5 a couple of years ago.

Not saying you won’t find a bank who will accept you with a lower then 25 mil amount. What it then does mean is that the service is worse and the fees even higher.

Re Zug; nice around the lake in the summer. I also wouldn’t want to live there with its grey square empty buildings which are mostly empty because they fulfill the domicile function for a company. Travel to and from Zug via the western motorway is good. The eastern route isn’t the best. Via train the connection is perfect.

This is not correct as @MiddleEuroAsia said. Plenty of Swiss banks will accept you with 1 mill EUR. UBS and Credit Suisse start from 5 mill EUR (but you can get accepted with 1 mill as well if they see higher fees from you- if you go for wealth mgmt etc)

My knowledge is that they demand you investing a % into their funds which basicly are invested in stocks which will crash.......so basicly investing in something you already know you will lose majority of these funds

What you you smoking man ...

 

[GPT]

Get a residence permit.It will make things way easier.
Cost for it including some fake rental 1000 CHF but you will get totaly other proposals than being a simple foreigner.
Postfinance is very easy as resident

Postfinance I have used myself in the past.

They always were easy. Nowadays they send you letters in which they announce to close your account if they don’t like your transactions to and from certain perfectly normal countries. Also not when you provide them with all supporting documents

Sometimes I think that the Swiss don’t want any business anymore.

This is not correct as @MiddleEuroAsia said. Plenty of Swiss banks will accept you with 1 mill EUR. UBS and Credit Suisse start from 5 mill EUR (but you can get accepted with 1 mill as well if they see higher fees from you- if you go for wealth mgmt etc)

Not when you are a foreigner. That threshold is up. 1 mio is history.

But hey. Don’t take my word. Find the bank and make it happen. Proof me wrong. And then we talk again.

 

[369]

This is not correct as @MiddleEuroAsia said. Plenty of Swiss banks will accept you with 1 mill EUR. UBS and Credit Suisse start from 5 mill EUR (but you can get accepted with 1 mill as well if they see higher fees from you- if you go for wealth mgmt etc)


What you you smoking man ...

REALITY

 

[JackAlabama]

FALSE. I've talked to some of them in the DIFC in dubai, and I don't know about CS but UBS will work with you with 2m minimum and Lombard Odier even less with 1m minimum. you just have to have your paperwork in order and you're good to go.

Yeah swiss banks have stick up their asses but they still "reasonable" to certain extent, they are expensive, but they are not THAT expensive.

The question is what can they offer what others cannot? The super hyper magic about them is a thing in the past and is certainly dead since 2008.
They do not offer anything which a top USA, UK, SG, HK bank can offer as well.

Postfinance I have used myself in the past.

They always were easy. Nowadays they send you letters in which they announce to close your account if they don’t like your transactions to and from certain perfectly normal countries. Also not when you provide them with all supporting documents

Sometimes I think that the Swiss don’t want any business anymore.


Not when you are a foreigner. That threshold is up. 1 mio is history.

But hey. Don’t take my word. Find the bank and make it happen. Proof me wrong. And then we talk again.

The place for banking is not what it once was. The mystery and the hype about the super cool Swiss banks was real but they started to die in 2008.
These days they offer not much more which I couldn't get from a big bank in USA/UK/HK/SG and so on.

Better to use Wise for transactions to perfectly normal countries. Even they are more friendly than the anti-business Swiss banks.

 

[hlepic211]

Better to use Wise for transactions to perfectly normal countries. Even they are more friendly than the anti-business Swiss banks.

Wise will block you for anything related to crypto, even if there won't be direct transfers to/from exchanges.

And btw it's just a EMI for your local grocery store. Try using it for a fintech company payment processing or some related activity you'll see that a Hungarian normie bank would resolve issues better.

 

[GPT]

The question is what can they offer what others cannot? The super hyper magic about them is a thing in the past and is certainly dead since 2008.
They do not offer anything which a top USA, UK, SG, HK bank can offer as well.

The place for banking is not what it once was. The mystery and the hype about the super cool Swiss banks was real but they started to die in 2008.
These days they offer not much more which I couldn't get from a big bank in USA/UK/HK/SG and so on.

Better to use Wise for transactions to perfectly normal countries. Even they are more friendly than the anti-business Swiss banks.

Agreed. CH has lost their cutting edge in banking. Right now they are way over priced for what they can or have to offer. And that applies even to residents.

Even as a resident with correct paperwork banks here can take up to a year before they have opened your company account. The quickest is around 3 months. Indeed better to be somewhere else.

 

[MiddleEuroAsia]

Well, I literally have this 25 mil from a private banking director from UBS confirmed. UBS does take you only with lower amounts when you live in the country. Not when outside.

From CS I have similar information from private banking department in general. In both cases the conversations took place in Zurich.

As said; not saying you won’t find a bank at all. Am saying that the threshold has increased substantially.

I don't know what numbers are you talking about, maybe it's because of nationality, maybe it's the nature of your business, idk, but My info comes from the bank branch directly, UBS wealth management starts with $2M minimum, and for transactional accounts they said that they can "work something out", but your point of entry with them is always gonna be the WM track.

@JackAlabama

The question is what can they offer what others cannot? The super hyper magic about them is a thing in the past and is certainly dead since 2008.

Absolutely not, As I always say, the old school school swiss banks became very outdated and they they rely too much on their brand to the point that they stopped innovating, and as you said, Singaporean banks are better in every metric + they are very transactional.
I always prefer Asia when it comes to banking followed by Dubai then the legacy brands like CH and LI.

 

[myshufflemix]

Not just deeper pockets for switzerland. Many banks here have changed their threshold. You need to bring 25 million before they even want to speak to you.

are you from Switzerland?

 

[GPT]

are you from Switzerland?

Yes

 

[maxmoney]

Yes

So you may know the country in and out.. are you self employed with own company or employed ?

 

[GPT]

So you may know the country in and out.. are you self employed with own company or employed ?

Multiple GmbHs and AGs

 

[369]

Multiple GmbHs and AGs

I love the swiss passport however can't wait 10 years for it
Only pass in the world which uses small letters which i found

 

[GPT]

I love the swiss passport however can't wait 10 years for it
Only pass in the world which uses small letters which i found

5 and a bit if you marry a Swiss passport holder. 10 years is in reality closer to 12 years after 10 years you can start the process which can take loooong thanks to bureaucracy

 

[369]

5 and a bit if you marry a Swiss passport holder. 10 years is in reality closer to 12 years after 10 years you can start the process which can take loooong thanks to bureaucracy

Swiss passport has a light red colour same as singapore and having in nationality switzerland added and not just swiss
light red = service passport (very good one)
But the most i love about switzerland are the people and their open minds.
Switzerlands society remembers me of good old germany in the 90's .
Today germany it seems is a place for degenerates with no value/ethics moral or honor.
It seems its the new standard there.At least in northern germany