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Personal Investment Account in Switzerland for USA citizens


If you're a citizen of the United States it can be exceedingly difficult to find a foreign bank that is able and willing to open a personal investment account for you. If you do need some assistance or general direction in opening an account in Switzerland you can reach out to our team for more information. Our assistance also extends to opening you an investment account in Switzerland.

There are a few criteria you'll want to ensure you meet prior to opening an account in Switzerland. Though if you plan ahead and make sure to do your research, meeting these requirements should be too difficult for opening an investment account in Switzerland.

Opening a personal investment account in Switzerland:

An account minimum balance is typically required to be between $500,000 and $1,000,000, though it will depend on where you live as well as which banking service you're looking for.

Those living outside Switzerland, like in the US, can easily open an account in Switzerland via a remote opening. This means that residents in the USA or Switzerland are able to open an account without needing to be present during the registration and opening.

A number of banking services are available in Switzerland for investment accounts and those are also dependant on your location, in particular your country of residence. Typically Swiss banking law is favourable to US citizens, so if you're locate in this area you have access to a myriad of services. Some of the banking services that US citizens are able to take advantage of include:

  • Asset management services
  • Precious matter services
  • Market and asset class choices
  • Multi-country investment options
  • A large range of investment modules

A legal account registration and launch

Although opening an account in Switzerland is more seamless in person, there are still many other ways that Swiss banks allow you to open an account. The most common ways are typically by mail or fax, given you provide a few details and some essential documentation.

Due to Switzerland's strong anti-money-laundering regulations, there are laws that require you to show a few pieces of information prior to your investment account in Switzerland to be opened. These documents can include passport copies, documents which outline your occupation as well as your tax returns, business and corporate documents and licenses among other things. You must also prove that the source of your deposit is legal.

On top of that, you also have to provide some personal information like your date of birth, name, and address as well as a utility bill for confirmation. After the launch of your Swiss investment account, banks will want to know what you are going to use the account and its funds for.

Accessing funds

There are a number of different ways of accessing and using the money from your account in Switzerland for both local and international clients. By far the most common way that Swiss banks allow you access to your account funds is via a credit card.

Credit Card

Your credit card provided by your bank will be able to be used at ATMs globally as well as to make purchases, though keep in mind that often a 2.5% fee is charged on top of global transactions. Also important to note is that your secrecy and privacy might be jeopardised by using a credit card, as there is a digital trail. If you're wanting to keep your Swiss bank account private, then a credit card might not be your best choice.

Withdrawals

If you're within Swiss territory you are able to easily withdraw from your Swiss investment account and have no record stored of the withdrawal.

Bank Transfer

Another way to access your funds is to request that the bank transfer your funds to a spending account, though this could expose your personal information. Typically a Swiss bank will place the transaction in their name and leave your information out.
Opening a Swiss bank account can seem fairly complex, though if you need some assistance the team at Goldblum and Partners are more than capable of providing comprehensive advice and assistance throughout the entire process of opening an investment account in Switzerland.

You can find some more information on our banking and finance services on our website.