Thursday, June 18, 2009

Open a Super Secret Swiss Bank Acount

Let me start out by saying that I do not condone money laundering, or tax evasion. This article is purely to show how you too can have your own super secret Swiss bank account for security or nostalgic reason's fairly easy.

Movies always depict the luxury and romance of having a Swiss bank account as being reserved for criminals, and the ├╝ber-wealthy. And it is true that "top secret numbered accounts," require an in person visit to Switzerland with an $100,000.00 initial deposit, and a cost of about $300 a year to maintain [statistics by Fortune]. However, the average Joe can also open a regular Swiss bank account fairly easily. Start by contacting the bank, check the term and conditions, fill out an application, and send in a copy of a passport via postal mail or fax. Regular Swiss accounts are still very secure and kept secret from prying eyes under Swedish Law. That includes blood sucking lawyers, Ex-wives, and greedy family members, the repo-man, and even the U.S. Federal Government; unless you are involved in an ongoing criminal investigation. In Switzerland it is a serious crime to divulge any Banking information, and foreign monetary laws are considered a private matter.

According to "The Swiss currently charge a hefty 35% tax on interest earned in Swiss accounts, but Americans get 30% of that tax refunded by showing that they're not Swiss residents." Many Swiss banks also conduct transactions in multiple currencies, allowing members to take advantage of the exchange and interest rates of other countries.

Out of the enormous list of Swiss banks, here are some of the more popular ones:

Currently, I am focused on paying off my credit cards, but I do plan opening a Swiss bank account when I have the liquidity to dabble in Foreign Banking ventures. Until then, I will just have to leave the cloak and dagger repertoire to the professionals.

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