Benefits of a Swiss bank account

Swiss neutrality

Switzerland is an economically advanced and thriving nation, which GDP is higher than that of the most European countries. According to the Federal Statistical Office of Switzerland, per capita GDP was СНF 70,272 (about US$ 66,150) in 2008. Besides, the value of the Swiss franc has been and remains stable compared to that of other currencies. For this reason, China holds about a third of its foreign exchange reserves in Swiss francs. Generally, the Swiss franc is often considered a reserve currency, because of the perceived stability of the currency and the Swiss banking system.

Swiss neutrality and sovereignty of the country, long recognised all over the world, contributed to a better financial climate in which the banking sector was able to successfully develop and thrive. Despite the fact that the country is situated in the very heart of Europe, Switzerland managed to safeguard its neutrality throughout both World Wars. It is still not a member of either the European Union or the European Economic Area; it even was not a member of the United Nations until 2002.

Currently, an estimated one-third of all funds held outside their country of origin (the so called "offshore" funds) are kept in Switzerland. According to the Federal Statistical Office of Switzerland, in 2008, the total assets of all Swiss banks amounted to over 3 billion Swiss francs (about US$ 2,823,529,412). The Bank of International Settlements (“BIS”), an organization that facilitates co-operation among the world's central banks, is headquartered in the city of Basel.

Banking law

FINMA (Swiss Financial Market Supervisory Authority), an independent body of the Swiss Government within the Federal Department of Finance, supervises all banking-related activities in the country, including securities markets and investment funds.

 

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