Why are these Swiss banks so popular?
The main reasons for this are privacy and stability. Switzerland's banking system is said to be one of the most stable in the world. Moreover, the Swiss banks were coming there with the highest information security of the money deposited by the clients. About 300 years ago today, it was common practice to open such secret accounts and keep money in Swiss banks. History has shown that this kind of arrangement started with the tendency of the kings of "France" to keep their savings secret. Moreover, a law passed by the Geneva City Council in 1713 invoked this privacy. The law states that no one will know the account information of a customer except him. The policy was to maintain complete confidentiality of customer's account information. Then the account could be opened with the bank by hiding one's name and address.As a result, money smuggled from different countries began to be deposited in Swiss banks.
However, at present the bank does not have the option to keep the identity secret. However, there is a system of number account. In this account, instead of the customer's name Dham, he will be given certain secret numbers which will protect his privacy. Very few people in the bank will know who is the person behind this number! They do not usually disclose the amount of money deposited in Swiss banks. Michelle D. Robert, head of the Association of Swiss Private Bankers, said privacy was the same as the way a doctor or lawyer kept client information confidential. Swiss Bank is not obliged to give its client information to anyone, it is against the law and against the law. And this is why Swiss banks are so popular.
What does Swiss Bank mean?
Swiss Bank was established in 1854. However, since 1998, there is no such thing as a Swiss bank. That year Swiss Bank merged with Union Bank of Switzerland. Union Bank of Switzerland is currently the largest bank in Europe and the second largest in the world. According to Swiss Bank, there is no single bank at present. But under the "Swiss Financial Market Supervisory Authority", all banks in Switzerland are known as Swiss banks. Among them are "Union Bank of Switzerland, Credit Suisse" etc.
The type of account that can be opened
Like other general banks, various accounts including current account and savings account can be opened here. However, Swiss banks encourage foreign nationals to open investment accounts.
Eligibility to open an account with Swiss Bank
Let me give you some information. In 2016, the amount deposited in Swiss banks from Bangladesh was 661 million Swiss francs. In Bangladeshi currency the amount is about 5 thousand 685 crore! It is thought that most of it was smuggled black money. Politicians, industrialists, mafia, criminals and other millionaires from different countries are the ones who smuggle money and deposit it in Swiss banks. The misconception of many is that those who have a lot of money can only keep money in Swiss banks. If you are not a millionaire, you cannot open a bank account here. In fact, it is just a misconception.There is nothing to despair about if you are honest.
There are lots of ordinary people's accounts in Swiss banks. In countries where the government system is unstable and the economy is fragile, people open accounts in Swiss banks for financial security reasons. Just keeping illegal money or keeping money secret is not the main purpose of opening an account. Any adult over the age of 18 can open a Swiss bank account. After opening an account a certain amount of money has to be deposited in the account, it varies from bank to bank.
Rules for opening an investment account
Anyone who wants to open an account or his representative must first visit one of the branches of the preferred Swiss bank. When sending a representative, the representative and the person in whose name the account is located have to give the information to the bank. Photocopy of attested ID card of office or own organization, photocopy of passport should be submitted to the bank. Some banks, however, do this through "e-mail". However, like other banks, Swiss banks may want to check the source of funds. In that case the bank will also have to provide the source of income document. You said when you opened the account, you got the money by "selling the house". In that case the bank may ask for a receipt for the sale of the house. Moreover, the bank can verify the address provided with your document if in doubt.
Then you have to fill the application form given by the bank. Due to the recent international pressure and the increasing trend of tax evasion in different countries, the process of opening an account by banks has taken a long time. To open an investment account, a foreign national has to do around 100 pages of paperwork as part of the application process. In addition, to get bank account approval, you have to invest a certain amount of money. At present some private Swiss banks have to invest "two and a half million dollars" to open a new investment account. However, in some banks, it is allowed to open an account only if it is "fifty thousand dollars". However, the amount of investment varies from country to country, such as: If a Canadian wants to open a Swiss bank investment account, he has to deposit "two million dollars".
Rules for opening a numbered account
If privacy protection is the main reason for opening an account, then it is better to open a numbered account. No one knows the details of these accounts except some high officials of the bank. If one wants to open a numbered account, he has to be physically present and complete the above mentioned formalities. Initially you need to deposit at least "one million dollars". And you only have to pay 300 a year for account maintenance!
Rules for opening a personal account
In case of opening this account, you have to visit any branch of the bank as before. Those who are new to Switzerland will apply to open an account in person with the above documents. Those who wish to open a personal account from outside Switzerland should request that the account opening process be done by mail. You will then be associated with a personal account manager. Who is your manager must remember this for the next transaction. So in order to keep in touch with the manager, you have to collect his mail address and phone number. Personal account maintenance fees are charged at "10-30 Swiss francs" per month. In addition, if you have Debit, Credit Card, you will have to pay extra fee for it.
Some more information
If you do not want anyone to know the source of your money, then you need to open an account in a Swiss bank which does not have a branch in your country. In addition, if there is a fear of account tracking down "Debit card, Credit Card, Check" can not be taken advantage of. In that case you have to operate the account through travelers check. But not without a warning message. If the Swiss bank thinks you have trouble with the source of the money and the money comes from the "Drug Business" then they may not allow you to open an account. This is the only reason why Swiss bank deposits in India have halved in the last few years. Not just Swiss banks, there are many more secret banks in the world that strictly protect account privacy and act as a tax haven. Among the most well-known secret banks are the "Anglia, Belize, Bahamas, Cayman Islands and Panama" banks. Anguilla is an East Caribbean British territory. It is considered an offshore business center and a "tax-free" zone. Belize has been offering offshore banking since 1995. These bank accounts are not subject to local taxes. Its customers are guaranteed privacy.
If a Belizean court finds that the money in an account is being misappropriated, the bank concerned must disclose the information. The identity of the account holder is also to be revealed. Confidentiality in the Bank of the Bahamas is not as strict as in other countries.The country's new banking law allows banks to keep the information of account holders and companies secret. The "Cayman Islands" have strong banking privacy laws like in Switzerland. If an officer breaks the accountant's confidentiality, he has to go to jail. Many see Panama as a stable country for protecting bank account privacy. The "Swiss bank" is the sole claimant to safe haven. This Swiss bank is the source of legal and illegal money. That is why many see the Swiss bank as a "red flag". In particular, the anti-capitalists call the Swiss bank by this term. Because they think that this Swiss bank is one of the nurturing areas for the expansion of capitalism.