I have a business in Switzerland, but I don't have a Swiss bank account. Currently, I am using a Revolut Business account. Is there any neo bank that can provide me with a Swiss business account without me having to visit Switzerland?
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Swiss neo bank
- Thread starter MichelRippon989
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Why incorporate in Switzerland if you don't live there?
I think Yapeal and Klarpay are the only Swiss non-banks that open business bank accounts. AFAIK, the rest only offer personal accounts.
Not sure Yapeal would accept a company with non-resident ownership/management. Klarpay might, so that might be your only non-bank option.
I think Yapeal and Klarpay are the only Swiss non-banks that open business bank accounts. AFAIK, the rest only offer personal accounts.
Not sure Yapeal would accept a company with non-resident ownership/management. Klarpay might, so that might be your only non-bank option.
you need to travel there to open a bank account in Switzerland. They are really persistent with it!
Klarpay can work. Swissquote doesnt require you to travel, but they would require high volumes.
I have just heard of someone who needed to pay +300k EUR for closing accounts with a Swiss Private bank.
And I thought nothing could surprise me.
Anyway, it depends on what you need the account for. Is it for wealth management or a transactional account for an offshore company with no substance?
In the latter case, you don't have many choices.
And I thought nothing could surprise me.
Anyway, it depends on what you need the account for. Is it for wealth management or a transactional account for an offshore company with no substance?
In the latter case, you don't have many choices.
Something say Propaganda! D o you seriously believe that??? Try to think clear, try to think what would happen if a Switzerland bank would do that towards a honest business man that has nothing to hide! Or do you compare Switzerland with Somalia, Pakistan or India?
I'm sometimes believing that some people really need a hidden agenda like Donald Trump and Putin to survive for their business.
I look forward to hearing about this court case. I'm not making this up. It's coming from a friend of mine whose former neighbour in Monaco is facing this issue.Sounds ridiculous. Even private banks have a fee schedule (which is always up to negotiation).
Maybe the client confused that amount with the money he/she lost during stupid speculation with dubious financial instruments in that specific account
Banks sometimes have terms and conditions stating that they can charge whatever to have you by the balls (this is not a Somalian bank btw, but a private Swiss bank):
Swiss has lost roughly half of its global market share in storing offshore wealth.
Good days are definitely over for them. The shift is in favour of Asia (leaves a bitter taste to admit that).
Apart from the established financial industry, I don't really see many benefits in storing wealth in Switzerland these days.
https://www.afr.com/world/europe/sw...a-banana-republic-in-a-crisis-20230321-p5ctwa
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Good question! And I agree.
I believe that soon people will be holding moneys directly at the central banks (CBDC).
In some countries you can already go for it
https://www.service-public.fr/particuliers/actualites/A15560?lang=en
The part of ToS you cited does not give the bank the possibility to charge whatever it wants.
You always have to see the ToS in connection with the official fee schedule. FIDLEG + FINRA regulations apply to a Private Bank as much as to any other Swiss financial institution.
There must be more going on with this specific case. It is for sure not a simple account closure fee.
If possible, dig a bit deeper and let us know what the case really is about (if and where these absurd "fees" come from).
I hope you are right. Ill make a mental note to report back.
Sounds like a story half-told.
Doubt it's a 300,000 EUR account closure fee. If I had to guess, I'd say it's probably loss of funds and penalties from pulling out of investments/deposits/schemes early. I.e., something the client had every chance to know before exiting but probably didn't listen to warnings. I've seen that exact scenario play out more than once.
You need to take a trip to Switzerland, live there for some months and engage in the financial sector before you can get a clear understanding of what is up and down on the story. Some people in this thread have hidden agenda, or is it hidden if you read their signature!! - the media is full of bulls**t, you can't believe anything any longer you read in the papers. You need to put a finger deep in the mull of the country of your consideration.
Everything else is speculation and can bring you in trouble or miss out of a great opportunity.
Everything else is speculation and can bring you in trouble or miss out of a great opportunity.
yes... just having a TRP in the EU is sufficient, and you and your company are guaranteed to get the account + they have to notify 45 days ahead in case of closure.
We can even get accounts open to entities that otherwise don't get the account anywhere
Would it work for a Swiss resident too?yes... just having a TRP in the EU is sufficient, and you and your company are guaranteed to get the account + they have to notify 45 days ahead in case of closure.
We can even get accounts open to entities that otherwise don't get the account anywhere
No.. it applies to EU citizens/residents because EU states (e.g., France) have no right to discriminate against other EU citizens/residents.
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Well, sounds promisingyes... just having a TRP in the EU is sufficient, and you and your company are guaranteed to get the account + they have to notify 45 days ahead in case of closure.
We can even get accounts open to entities that otherwise don't get the account anywhere
I've heard about it already, under the label “a guaranteed bank account“ or so but never have gone into it more deeply. And I guess it will work in all EU member states similarly, it's some EU directive.I'll open a separate thread, as it is OT here. UPDATE: The thread is opened: The EU “right to a basic bank account” - how it really works?
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@Don: What do you mean by “TRP”? (...Tax Residence Proof or what?
)
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