Switzerland corporate bank account in 2022

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Since 2003 and for local and overseas companies, Healy Consultants Group PLC helps multinational Clients open Swiss multicurrency corporate bank accounts, without bank signatory travel. Without bank signatory travel, our Swiss banking team will project manage the multicurrency corporate bank account opening process.

This web page helps our Clients’ understand the benefits and challenges of Swiss multi-currency corporate bank account opening:

  • Table of Swiss banking problems and solutions

    No. Swiss banking problems Healy Consultants Group PLC’s solutions
    1. Swiss banks are selective about the customers they onboard. Top-tier banks increasingly focus on large, profitable, low risk corporate Clients. Generally, Swiss banks are neither interested in small companies nor companies incorporated outside Switzerland. Since 2003, Healy Consultants Group PLC has built quality banking relationships with Swiss banks. Local banks trust and welcome our multinational Clients. A quality business plan is a big help. Healy Consultants Group PLC has a guaranteed corporate bank account approval policy.
    2. Global banks continue to tighten corporate bank account opening procedures, their internal compliance departments completing more thorough due diligence of Clients. Consequently, our Clients should expect Swiss bank account approval to take up to three months. If our Client requires a bank account at short notice, we recommend an immediate Swiss solution (Swiss company plus already-approved Swiss corporate bank account).
    3. Before, during and after bank meetings, the bank’s In-house Legal and Compliance Department reverts multiple times for additional documentation and information from each i) bank signatory / director / UBOs of the companies as well as ii) our Client’s business and transactions.
    4. The majority of Swiss banks i) demand bank signatory travel a high minimum US$ deposit and ii) are reluctant to onboard overseas companies Since 2003, Healy Consultants Group PLC works with multiple Swiss banks that allow a travel exemption and a minimum deposit of US$ 50,000. These banks also welcome multi-currency corporate bank account applications from local and overseas companies

  • The Switzerland banking sector

    • Switzerland is a quality secure jurisdiction to house funds. The banking industry represents more than 13% of the country’s economy, with over 266 foreign, national and regional banks. However, i) UBS and ii) Credit Suisse represent over 40% of the industry’s total assets;
    • The popularity of Switzerland for foreign entrepreneurs has been historically associated with Switzerland’s strong bank secrecy laws. However, this bank secrecy may be halted as the Swiss government has recently committed to exchanges of tax information under pressure of the United States and Germany;
    • Important larger Switzerland banks include UBS and Credit Suisse while Lombard Odier and Julius Baer are excellent choice for private banking and wealth management services in Switzerland. Foreign banks present in Switzerland include i) Citibank ii) Standard Chartered iii) Barclays iv) HSBC and v) BNP Paribas;
    • Switzerland is a great place to raise loans and capital to finance investment projects: Swiss banks are indeed ranked as the 7th best in the world for the ease of access to loans;
    • A quarter of the cross-border asset management transactions in the world are done through Swiss-based structures;
    • Switzerland does not implement exchange controls, except notification will still be provided by the bank to the Swiss National Bank for monetary transfers over CHF10,000 (US$10,449);
    • Both residents and non-residents in Switzerland are allowed to open bank accounts in foreign currencies, including CHF, €, US$ and £;
    • There are no restrictions on the amount of foreign currency that residents may hold in their bank accounts;
  • Switzerland corporate bank account opening

    Healy Consultants Group PLC efficiently assists our multi-national Clients’ to open multicurrency corporate bank accounts in Switzerland, without our Client’s travel:

    • Within four weeks of the Swiss banks confirming they have all the information they need, our Client can expect to receive corporate bank account numbers. Within two weeks thereafter, our Client will activate internet banking and action incoming and outgoing funds transfers;
    • Healy Consultants Group PLC may assist our Clients with obtaining corporate finance, including various financial instruments such as: i) bank guarantees ii) bank card overdraft or extended credit lines or iii) promotional/ preferential credit terms. Please contact our team for inquiries regarding these services and related fees;
    • To support a quality application for various financial instruments, our Client and Healy Consultants Group PLC will need to prepare i) a quality business-plan, inclusive of a feasibility study ii) availability of collateral assets (in some cases) iii) adequate background of senior management and iv) audited financial statements from the last three years;
    • The majority of Swiss banks require evidence that the business has economic substance in its country of registration, including staff and physical office premises. There is a possibility that the bank will request our Client’s company to appoint a resident bank signatory in case the company has no substance in the jurisdiction in which the company is registered;
    • Many Swiss banks prefer to operate on a referral basis. Consequently, 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 and to reduce compliance background checks;
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Conclusion

Through the contact details below, communicate with Healy Consultants Group PLC to assist you with Swiss multi-currency corporate bank account opening.

Contact us

For additional information on our corporate banking services in Switzerland, please contact our in-house country expert, Mr. Petar Chakarov, directly:
client relationship officer - Petar
  • Mr. Petar Chakarov
  • Client Engagements Manager
  • Contact me!
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