Swiss Banks - The Best in The World?

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Swiss Banks have been widely considered for a very long time a premier name in international and offshore banking.

Swiss banks for the longest period of time have been a code name for bank secrecy, and were considered the best and the safest banks in the world.
The secrecy of the Swiss banks changed in 2009 when the IRS broke EBS and later in 2011 when they broke Credit Swiss.
Because of that banking secrecy is a thing of the past. However, the sophistication and the quality still remain when it comes to banking in Switzerland.

The story of banking secrecy predates from before WW2 when lots of money was brought into Switzerland. However, times have changed and many Americans were using Swiss banks to hide their money from the IRS. American government and the IRS came after Swiss banks for this, but they didn't care. Tax evasion is not considered a crime in Switzerland and banks wanted to protect the privacy of their clients.
IRS threatened to arrest top Swiss bankers unless they give in. This is how Swiss banking secrecy ended.

What about today? Is banking in Switzerland worth it? I would say it certainly can be for the right people.
This is especially the case when we talk about private banking and wealth management.
In order to qualify for these accounts, you'd need to deposit the minimum of 500 000 USD. Realistically they would want you to put down around 2 million.

One thing you know for sure is that your money is extremely safe in Swiss banks. I'd certainly feel more comfortable putting larger amounts of money in Switzerland than in places like Cyprus or Portugal.

Another great thing about Swiss banks is that they will put an effort to understand your business, even in cases when other banks will simply shut you down - such as crypto profits.
Also, you will be able to get any credit card that you'd want. Golden Amex Card? No problem!

Keep in mind that you'll need to prove your source of funds, as they do quite extensive due diligence.

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