Recommended Offshore Jurisdictions:
Switzerland
This is perhaps the most famous banking center in the world and still continues to attract large numbers of high net worth clients; principally because of ability and reputation of the banking community. As in Liechtenstein, cash deposits over 500,000.00 Swiss Francs must be verified and non-authorized disclosure of confidential information by bankers and associated officers will result in penal consequences.
Where there is evidence of activities that would be considered criminal under Swiss law, third parties can seek redress and set-aside the normal confidentiality. However, it should be noted that tax avoidance and exchange control violations are not criminal activities in Switzerland and hence, cannot compromise standard confidentiality.
Further, as a result of pressure from the United States, it is no longer possible for Swiss lawyers to open 'Numbered Accounts' under their name for the benefit of undisclosed clients. On incorporation, a Swiss company can maintain anonymity by employing nominees; normally supplied by a local fiduciary company. In synopsis, Switzerland can provide many benefits to the businessman and a high level of confidentiality but this must be tempered by relatively high costs. .
Bank & Jurisdiction Confidentiality Rating: 5 Stars
Bank System Rating: 5 Stars |
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