banking in Switzerland?

Question

What are the advantages and disadvantages of opening and depositing in a Swiss bank? Where else in the world is best for depositing money tax free (if possible)?

Thanks

Answer 1

Advantages:
Very high level of confidentiality
Highly professional and personal service
Very stable and investor friendly political environment
Great selection of institutions with excellent credit ratings.
Strict laws that protect client privacy.

Disadvantages:
High minimum deposit
Possible indirect taxation of your returns if you are an EU citizen
Travel cost to manage your accounts

Other options:
- Investement forms with no or less taxation in your home country.
- Liechtenstein
- Singapure
- Cayman Islands

Answer 2

The big disadvantage of banking in Switzerland in a numbered account is that you don't earn any interest at all. You pay them to keep your money. The advantage is that the service is confidential so nobody can find out how much money you have.

I'm sure Swiss banks have normal accounts as well, which will operate like the accounts in any other country.

Answer 3

I offer every deposit tax free, send it to me !!!... lol

The money you DEPOSIT is generally after tax or your earned income. May be you are talking about tax free return. Well that depends on where you live. You need to show interest and other income made overseas in your tax return (unless if you want take risk to hide). then why to take risk of investing money overseas?

In United states, I have several legal ways to do so. contact me if interested.

Answer 4

Inland Revenue can now obtain details of all UK citizens Banking anywhere in Europe (EU).

So if you want to evade Tax you will have to look further afield.

To avoid getting caught you will have to visit the Country and either spend it there or convert it into cash & hope you don't get stopped at Customs on the way back.