Swiss Banking and why it is the way of the future!
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Are you aware of this new change in offshore banking rules?
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Have you spoken to your bank to see how it will affect you?
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Are you happy to pay 15% tax on your deposits?
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Why subject yourself to this tax if you do not have to?
Deposit rates are low enough but will reduce on this date.
What is special about Swiss bank secrecy?
Banks in most countries are prohibited from divulging information about their clients, and the provisions of the Swiss law follow the same lines. Swiss law is especially strict on any breech of confidentiality, whether in banking or in other commerce. The banking act adds a special section (introduced in 1934, in order to protect accounts of Germans, especially German Jews, from Nazi confiscation), which makes it a criminal offence, with the possibility of an individual going to jail, for the bank or its employee or agent to improperly divulge any confidential information. These portions of the banking law have been interpreted, both in practice and by the courts, to make it a serious offence to divulge any information about a bank customer to a third party, including official requests of foreign governments, except in some very special and clearly defined situations.
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Swiss bank secrecy is reinforced by a constant awareness of the seriousness of the bank's obligation to maintain confidentiality, starting with bank employees having to sign the secrecy portion of the banking act as a condition of employment. Both individuals and the banks are prosecuted if a lapse is discovered; this keeps awareness of bank secrecy high and lapses rare. While this culture of absolute discretion is integral to the Swiss banks, the branch offices outside of Switzerland must operate according to the law of the particular jurisdiction, which may not provide so much protection.
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"Swiss bank accounts can be opened without having to travel to Switzerland."
Dispelling Myths
Most people believe you need a king's ransom to open an account. This is not true as accounts can be opened with as little as 50,000 Euros or any currency equivalent.
Under normal Swiss banking requirements one would have to go to Switzerland in order to open an account, however at Hamiltons
Investment Group S.L. we have the ability to dispense with this major formality as you can open an account whilst here in Spain.
If you would like further information please contact us by simply filling in our enquiry form.
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