More than 2 years have passed since our blog on how to open a Swiss bank account was posted here. It provides useful information for people with a domicile outside Switzerland that is still valid today.
With a market share of around 27 % (24% in 2018), Switzerland is still by far the most important financial centre for cross-border wealth management.
Swiss banks have however continued to increase the thresholds (minimum assets required) or have started to price out smaller clients with wealth management service charges of up to CHF 330 per month or almost CHF 4,000 per year if assets are below CHF 500,000 (new conditions of a major Swiss bank that come into effect on 1 January 2021 as per letter sent out in July 2020). We certainly can help you find an alternative bank and facilitate with the opening of an offshore account. We have established close ties with many banks in Switzerland and beyond. Feel free to call us or send us an email.