Why do people get Swiss bank accounts? What are the advantages and disadvantages?

0 ⤊

2007-09-18 02:49:44 · 4 answers · asked by AF 1 in Business & Finance ➔ Personal Finance

Used to be good for interest rates and private wealth but now the government is accessable to all information as is the tax man

2007-09-18 02:59:39 · answer #1 · answered by Kim from Sydney 6 · 0⤊ 1⤋

Sometimes it could be because of illegal money they want to hide or avoid paying tax on the money in the U.S.

2007-09-18 03:12:32 · answer #2 · answered by GeneGregoryArt.com 4 · 0⤊ 1⤋

One reason, no taxes need be paid.

2007-09-18 02:58:41 · answer #3 · answered by Anonymous · 0⤊ 2⤋

Call OJ
He hides all his money there.

2007-09-18 02:57:13 · answer #4 · answered by Fuzzybutt 7 · 0⤊ 2⤋