Swiss Bank, like me many of you was introduced this name in 2014 when Mr. Narendra Modi who was the chief minister of Gujarat that time made his election campaign on Black money in Swiss Bank. Now, in 2021 no money was back to India as promised by Narendra Modi. On other hand there is huge hike in Indian Money deposited into Swiss Bank. According to the media reports the total amount has reached more than 20,700 Cr and also the Swiss bank account holders in India gets increased post 2014.
Now, if you see google then many people are searching to open a Swiss Bank account online. It’s not that everyone wants to open an account in Swiss Bank, however many of them like me are just curious to know the process to open an account in Swiss Bank.
How to open a Swiss bank account
- Just like Indian Banks, Banks in Switzerland also minimum balance criteria. You have to find a Bank that will accept the amount of fund you have. The minimum balance is between 100.000 CHF up to 500.000 CHF and it vary from Bank to Bank.
- Once you identify the Bank, or you can also take a professional help from third party websites. They charge you a professional fee to help you to open a Bank Account.
- These are the four steps to open an account
- Fill out the application form at our order page
- After reception of your order the bank will mail you a welcome packet
- Sign the documents and send them back to the bank
- The bank will confirm the opening of your new Swiss bank account
- If you will not be able to travel Switzerland, then you can also complete the process through post (Courier)
- You also have to show the origin of fund like bank statement, documents from the sale of property or any other document that shows the transaction amount
Thinks you should know before opening a Swiss bank account
- Any individual over the age of 18 is allowed to open a Swiss Bank account
- An Indian can open an account but with a ceiling for the financial year. However, for the purpose of conducting business such an account is permitted under the Foreign Exchange Management Act (FEMA).
- There are nearly 400 banks in Switzerland with the top two – UBS and Credit Suisse Group
- There is an account type called ‘numbered account’. All interaction with the account is through the account number. Very few people in the bank will know the name behind the numbered account.
- You can close your account any time without any restrictions or cost