Switzerland is widely known as a great banking destination, and the country deserves its status as it boasts some of the best banks in the world. Banking is the basis of the national economy, and the government does its best to make the services as convenient and reliable as possible. For example, banking secrecy is protected on the governmental level: the bankers who fail to deal with the customer’s data in a confidential way are heavily penalized. However, Swiss banks are so popular that they can afford to be picky, and you should expect a complex and responsible procedure if you decide to open a corporate account with a Swiss bank.
If you need more information, you can visit our portal where you will find a more detailed article on Swiss banking for companies and other articles on international banking that may be of interest to you. Discover the world of international business, asset protection, tax optimization, investment, and more! You can also schedule a free meeting with our expert to discuss your situation and choose the best option available. We provide turnkey services, so you can delegate the bank account opening procedure to us and concentrate on your business instead. Click on the above link to talk to us!
Why Opt for Switzerland?
Switzerland is the golden standard of banking, and it is the No. 1 choice for any entrepreneur who wants secure, reliable, and predictable banking services with a high level of confidentiality. Anyway, let’s look at the main advantages of setting up a corporate account in Switzerland:
- Numerous advanced services for business
- A very high level of privacy
- Swiss banks offer a complete set of online banking opportunities
- The investment options offered by Swiss banks are really diverse
- The country’s banking system is extremely reliable
- You will get a multicurrency corporate account by default
Let’s look at the list of banking services you will be able to take advantage of as soon as you open a bank account in Switzerland:
- Favorable mortgage conditions
- A wide range of accounts available
- Online, digital, and mobile banking services
- An extensive range of services for expats
- Loans and overdrafts
- Insurance opportunities
- Good business banking
- Great asset protection and diversification opportunities
- Excellent investment offers
Rates Offered by Swiss Banks
Let’s look at the service rates you will be able to take advantage of in Switzerland:
- Account opening, issuance of one debit card, and online banking come for free. However, if the deposit is below a certain amount, you may have to pay for the service.
- Account closure: CHF 300.
- Account maintenance: CHF 120 every quarter and CHF 750 a year. If you have a precious metals account, the quarterly rate is CHF 90.
- Administration fee: CHF 500.
- Bank guarantees: 1% of funds held (at the most).
- Outgoing payments: the fee usually ranges between CHF 10 and 40, but it largely depends on the region/currency and the type of transaction.
- Incoming payments: the fee ranges between CHF 15 and 550 (0.035% of the transaction amount in the worst case).
- There are additional fees for some services, like incoming/outgoing correspondence storage, maintenance of postal communication, online consultations, and so on.
Do not hesitate to get in touch with our expert if you have any questions.
Opening a Corporate Account in Switzerland
The information you will provide on your company is not checked at the initial stage, but supporting documents may be required later on.
Here is the information you will need to prepare to open a business account in Switzerland:
- Detailed data on financial operations: recipients/senders, volume, number, and jurisdictions where your counterparties are registered.
- Company details, such as name, address, website, etc.
- Data on the company’s main representatives (beneficial owners, shareholders, and directors).
- A contact person (a shareholder, a beneficial owner, or a director). Indicate the preferred language and the type of signature.
Documents
See below the documents to be submitted to set up a Swiss corporate account:
- International passport (copy)
- An official document that confirms permanent residence in a particular jurisdiction (copy)
- Documents that prove the existence of your company and its active status (copies). These should be issued no more than one year ago.
Details
Here are some other considerations to take into account:
- You will have an interview with a bank employee via videoconference
- References may be required, but not in all cases
- Decide whether you want to open a savings or a settlement account
- Make sure you apostille and notarize all the copies (even though this is not officially required)
- You will get a virtual or physical DIGIPASS as soon as your account has been opened, and this service is free. However, you will need to pay CHF 100 if you lose it. (DIGIPASS is a piece of hardware. You will have to log in to the bank’s official website and then enter a 6-digit code).
Company Account Opening: Procedure
Administrative barriers always exist. However, you will easily overcome them by using the assistance of our experts. The account opening procedure is not really difficult if you know all the ins and outs!
Here are the main steps you will need to take to set up your account in Switzerland:
- Prepare the required package of documents related to the company itself and its key members
- Complete an initial registration on the bank’s website
- Obtain a password for one-time entry into your personal account
- Upload the scanned documents using the received link (it’s better to have them notarized though this is not a formal requirement)
- As soon as the verification has been completed, you will need to take a 10-minute interview with the bank employee
- Receive an electronic digital signature (EDS) to sign an agreement with the bank remotely
- The company’s details will be checked by the compliance department, and then you will receive temporary data with an IBAN number to transfer the initial deposit.
If the information you provide is true to life, you will get the approval in most cases.
Interested in opening a corporate account in Switzerland? Do not hesitate to click on the above link to explore our portal or get in touch with our expert to discuss all the details. Each situation is unique, and you may rest assured that you will get a customized solution!
