Hombi
I don't think anyone can manage to save 5 million these days by asking lots of questions to lawyers and accountants. Those ****ers charge thousands for information anyone could get for free on the web!!. I must have saved a 5 figure amount myself over the last couple years by looking up chat and legal websites.
If privacy is a concern I would suggest Singapore, bank secrecy and no EU savings tax directive, but accounts usually must be opened in person.
I would avoid CS and UBS like the plague, they both have significant business in the US and the UK and the latter use that as leverage to get what they want. CS and UBS loot your account if the US government ask them to do so. A cantonal or small private bank are better for privacy. Private banks Julius Baer, Vontobel and the like are more exclusive, classier than CS/UBS but they might ask for 1 million opening balance.
Cantonal banks ask just 10,000 CHF I think. They also allow opening by post.
As an american resident I wouldn't go to the Channel Islands, they exchange information with the IRS. No idea if they send information to IR.
An european friend of mine here in Miami has Swiss accounts in the name of his illegal south american maid. No EU savings tax