Opening an Offshore Bank Account

As part of an asset protection strategy it is a common practice to have a certain portion of one’s wealth stored outside the country. Opening a Swiss bank account is one of the most popular options for many. When you want to open a Swiss bank account, there are a couple of key considerations:

  1. Ensure that you are dealing with a trustworthy institution and that your money will be in safe hands. This means looking at the specific institution.
  2. Choose a bank which is truly “Private”.  The difference between a Private Swiss Bank and a Commercial Bank (Swiss or otherwise) is safety!  In a Private Swiss bank, under Swiss law when you open an account the money is segregated and does NOT become an asset of the bank.  In a commercial bank when you open an account, your money becomes an asset of the bank and they have a corresponding liability to you.  This is why Swiss Private banks neither have nor need FDIC insurance.  They don’t put your money at risk!

Swiss Bank Accounts are Best for Wealth Management

Swiss banking specializes in wealth management for both private as well as institutional investors. Under the Swiss Financial Market Supervisory Authority, they do not use the account holders’ money to make unsecured loans, mortgage or commercial loans. Rather depositors pay a fee for the bank to simply hold their money safely.

Add to that the increased capital requirements in Switzerland, and the fact that the bank does not depend on any external sources of financing for liquidity.

Opening a Swiss Bank Account

Opening a Swiss bank account does require some intricacies. Particularly today, Swiss banks have increased both their due diligence and “know your customer” standards. Also it is critical that ifAsset Protection is your goal you open your account in the name of an Asset Protection Trust. This combines the goals of banking safety with true asset protection for the ultimate plan.

People have been using Swiss banks to protect their wealth for several decades and, when done with an asset protection plan in place, has proven to be the most successful asset protection strategy. You are even able to access your account through a secure internet environment. This makes the entire process fast, simple and easy. There is no need to wait for several weeks for postal correspondence.

Opening a Swiss bank account was a “James Bond” type of mystery for many. People were made to believe that Swiss bank accounts are meant only for the extremely rich and wealthy. Today that is not the case; opening a Swiss bank account has become a highly common asset protection strategy.

Open a Swiss bank account and enjoy the special financial protection and security. We will be happy to assist you in opening your Swiss bank account. The minimum amount required is $500,000.

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    About the Author: Doug

    Douglass S. Lodmell is an expert in estate planning, taxation and strategic asset protection for domestic and international clients. Douglass is the founder of Asset Protection Council & Lodmell & Lodmell Law Firm.

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