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In some rare cases, a Switzerland banking account can be a “numbered account”, these accounts are offered to a very small number of clients. The account has a brevity, or code name, associated with it to avoid confusion between the bank and the customer. This feature increases privacy so that in the event that a statement is lost or stolen, the name of the account holder is not clearly obvious. A much preferable arrangement is to establish an offshore company and open your account in the name the company. This type of account can be opened much more quickly and easily than a numbered account. Plus, it gives enhanced privacy because wire transfers into and out of the account are in the company’s name rather than the client’s name.
Swiss banking law recognizes tax evasion and fraud and has provisions to enforce such acts. A Judge must declare that an act is a criminal (felony) “offense” for any information to be released to a third party. Tax evasion is not an offense under Swiss law. It is not considered criminal intent to fail to declare one’s assets, as the chance for accidental failure is very high. Tax evasion is considered a civil offense in Switzerland and will not result in information distribution to any third party or government. A Swiss bank account, when owned by an offshore company, gives another layer of financial privacy and asset protection, US people are taxed on their worldwide income. As a responsible company, OffshoreCompany.com recommends that you comply with tax laws in the jurisdictions to which you are obligated.
Swiss banking law does not cooperate in proceedings of minor offences, only criminal offenses. There are methods that can be taken to provide the maximum degree of confidentiality. OffshoreCompany.com specializes in offshore business structures and Swiss bank accounts, while protection the interests of our clients.