Switzerland corporate bank account
Healy Consultants assists our Clients with opening a corporate account in Switzerland. Our experienced banking team will prepare all required documentation and submit them to our Client’s preferred bank. We will also attend the bank interview on your behalf and may assist you with applying to the full range of corporate banking services available in the country. Please read below for further information regarding corporate banking services in Switzerland.
Switzerland corporate banking options
- Switzerland is one of the most renowned banking and financial centers of the world. The industry represents more than 15% of the country’s economy and over 120 foreign banks and 163 national and regional banks. However, Credit Suisse and UBS represent over 45% of the industry’s total assets;
- The popularity of Switzerland for foreign entrepreneurs has been historically associated with Switzerland’s strong bank secrecy laws. While the Swiss Government has recently committed to exchanges of tax information under pressure of the United States, Germany and other foreign governments, the country is still a great place to raise loans and capital to finance investment projects: Swiss banks are indeed ranked as the 28th best in the world for the ease of access to loans;
- We often recommend our foreign Clients to open their Swiss corporate account with a bank with which they already have a bank account in another country, as this will reduce i) time required to open the bank account and ii) the bank’ requirements for our Client’s security check;
- Foreign banks present in Switzerland include i) Citibank ii) Standard Chartered iii) Barclays iv) HSBC v) BNP Paribas and vi) Rothschild Wealth Management;
- Our Clients may also choose to open a bank account with a Switzerland bank. Healy Consultants recommends i) UBS and ii) Credit Suisse while i) Lombard Odier and ii) Julius Baer are excellent choice for private banking and wealth management services in Switzerland.
Healy Consultants’ Switzerland corporate banking services
- Healy Consultants assists our Clients with opening a bank account in Switzerland. Please read below for further information:
- Healy Consultants will be pleased to assist our Clients with opening a business bank account for their Switzerland company within 4 weeks. Internet banking will be approved within the subsequent week. Our fee for this service will be €2,950;
- While our firm will liaise with the banks to prevent our Clients from travelling to Switzerland, there is still a 20% chance that the bank may require our Clients willing to start a business to travel for a one hour interview in the country. There will be a fee discount of €950 if you have to travel;
- Following bank account approval, the preferred Switzerland bank will directly and independently email our Client the bank account number, required to set up his business in Switzerland.
- If requested, Healy Consultants will also be pleased to assist our Clients with obtaining bank financial support for their projects in Switzerland. Please read below for further information:
- Healy Consultants may assist our Clients with obtaining corporate finance in the form of a loan, overdraft or simply preferential credit terms. Please contact our Switzerland Client Relationship Officer for inquiries regarding these services and related fees;
- Switzerland banks will consider providing funds to finance investment projects, provided sufficient information is provided. Documents requested include i) a well-prepared business-plan, inclusive of a feasibility study ii) availability of collateral assets iii) qualifications of business owners and management iv) last 3 years audited financial statements and v) a detailed review of the project’s strength, weaknesses, opportunities and threats (SWOT matrix);
- In addition to corporate finance, our in-house consultants may also provide our Clients with assistance to secure trade finance services including i) bank guarantees ii) letters of credit iii) finance against trust receipt (for imported goods) and iv) document against payment and against acceptance.
Opening a corporate bank account in Switzerland
- In order to open a corporate account on our Client’s behalf, Healy Consultants will proceed as below:
- Before setting up a business in Switzerland, Healy Consultants will assist our Client to choose the best corporate account amongst the different banking options available in Switzerland;
- Healy Consultants will initially open a provisional corporate account at the bank chosen by our Client. The paid-up capital (minimum of US$21,500 ie. CHF20,000 for a limited liability company) will then have to be injected into this account for the bank to provide a certificate of deposit, required to complete incorporation procedures;
- After company incorporation, Healy Consultants converts the provisional account into a permanent one;
- Once the permanent corporate bank account is approved, Healy Consultants activities internet banking facilities in Swizterland and then courier to our Client the bank tokens, cheque books and other bank account documents.
Exchange controls and other regulation
- Switzerland does not implement exchange controls. Notification will still be provided by the bank to the Swiss National Bank for monetary transfers over CHF10,000. This is done to disrupt money laundering activities.