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Old 23.02.2014, 23:51
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Lasting Power of Attorney

The time has now come for me to take control of my father affairs due to dementia. He is a Swiss born citizen who lives in the UK now. He drew up an LPA in the UK for finances which is registered with the courts.
Does any one know if UK LPAs are sufficient for access to his Swiss Bank account. Thank you.
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Old 08.11.2015, 16:14
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Re: Lasting Power of Attorney

Hi,

Sorry to resurrect an old thread, but as the question was unresolved I thought it would be OK. I am in the exact same position as Heidi100 above, and after having searched the forum, I am unable to find an answer to what I hope should be a fairly straightforward question...

Do financial institutions in Switzerland accept a UK Lasting Power of Attorney document to enable the attorney to act on behalf of a Swiss citizen when it comes to making decisions about accounts/investments in Switzerland? Are all institutions obliged to accept it under some sort of arrangement with the UK, or is it specified in the guidelines of the Swiss financial authorities?

I would be grateful if someone with more knowledge than myself on this topic could come forward with some insight on this topic. I was surprised to see it hadn't really been covered before on the forum!

Many thanks.
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Old 08.11.2015, 18:50
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Re: Lasting Power of Attorney

I would ask the bank directly, but i would guess there would be some kind of convention.
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Old 08.11.2015, 18:56
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Re: Lasting Power of Attorney

Thanks for your reply. We are trying to, and struggling to get a suitable response....! This is why I wondered if it was standard practice that all financial institutions accepted or were obliged to accept.

Fortunately these are not undeclared funds, all completely above board and things have certainly been done properly, painstakingly so!
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Old 08.11.2015, 19:19
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Re: Lasting Power of Attorney

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Thanks for your reply. We are trying to, and struggling to get a suitable response....! This is why I wondered if it was standard practice that all financial institutions accepted or were obliged to accept.

Fortunately these are not undeclared funds, all completely above board and things have certainly been done properly, painstakingly so!
Normally in CH everything is secret, they don't care if you declared the account or not. Withholding tax makes care of that.

If your father has not done a POA with the Bank I suspect you won't be given a warm welcome. The Bank is not even able to confirm to you an account even exists as that would be a criminal offence. So even if they do help a bit they may not tell you about other accounts. All strictly need to know basis.
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Old 08.11.2015, 21:28
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Re: Lasting Power of Attorney

Swiss Radio Television SRF writes that based on a survey of the largest eight banks in German-speaking Switzerland, six only accept a Power of Attorney (Vollmacht) based on their own form. For more details, see this translated article:

https://translate.google.de/translat...cht&edit-text=
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Old 08.11.2015, 21:34
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Re: Lasting Power of Attorney

Hmm. Could be in for a tricky time then... I have previously been told that UBS would accept a standard UK Lasting Power of Attorney, with no issues. However, its not just UBS that we're dealing with...
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