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  #21  
Old 17.05.2011, 16:13
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Re: Opening a bank account on a non-CH resident's behalf

Doesn't CS have bank accounts without residency restrictions??



nevermind i just understood the question...

reading comprehension FAIL....
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  #22  
Old 17.05.2011, 16:48
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Re: Opening a bank account on a non-CH resident's behalf

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I very much suspect that you could open an account IF there is a Swiss consulate in your friend's country that can notarize a photocopy of his passport. I very much doubt that a Swiss bank would accept notarization from a local (non-Swiss) official.

If you plan to go the PostFinance route do not go to your local post office; in my experience they are an unending font of misinformation for foreigners. Go to a real PostFinance office. Does not need to be in a big city; when I went to the Sion office they were totally clueless but had the right number to call.
Broadly speaking, most institutions will accept certification from any accredited notary in any jurisdiction, as well as banking officials from FATF recognised countries.

As this will, by it's nature, be non-face-to-face business, the chap involved will probably have to provide at least one (probably two) proofs of his residential address too.

It varies from one institution to the next what the standard would be, but essentially when it's non face-to-face, they have to obtain info on identity and address (e.g. by having the guy complete a form), verify that info (e.g. by requesting a copy of the passport, utility bill, residence card etc) and depending where he's resident they may also need to confirm the source of the funds being deposited, and the source of his/her general wealth.

Logically, non-Swiss residents must be able to open Swiss bank accounts - otherwise, why would Germany be so consistent in trying to force Switzerland to release info so that they can tax German residents on their Swiss deposits..?

EDIT: Here's the statement regarding the latest money laundering legislation from FINMA (the Swiss financial regulator) with a link to the legislation itself.
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Last edited by terryhall; 17.05.2011 at 16:51. Reason: added the link.
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  #23  
Old 17.05.2011, 17:22
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Re: Opening a bank account on a non-CH resident's behalf

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From my experience it works like this. Your friend has to attend at the bank that you have identified as being workable to open a non swiss resident bank account and he needs his passport. He signs all the papers and he is aware of all the terms, otherwise you will get yourself in a right buggers muddle when he tells you you didnt explain all the terms.
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Can he just come for a visit and open a bank account here? Then "something" came up and he had to leave...

I think I can back these two points up. I had a Swiss Privatkonto whilst living in Germany.

I was working in Germany at the time, drove over the border and came to the nearest bank and asked.

Even when I left Germany they sent me statements to UK.
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Old 17.05.2011, 17:56
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Re: Opening a bank account on a non-CH resident's behalf

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Can he just come for a visit and open a bank account here? Then "something" came up and he had to leave...
Not even necessary to "leave". You can, especially as an EU citizen, have a bank account here. It is, of course, much easier to appear in person and set up and account than do it remotely.

Col Gaddafi et al. certainly didn't pitch up at the local UBS to open their accounts, but it does help for the "little man". (My parents opened an account here after we moved to CH.)

They do get sniffy, however, if you transfer lots of money from off-shore sources.

A swift use of Google and a couple of phone calls short sort your friend out and there is no reason why, when calling the main line numbers, he cannot expect to be answered in English. (I.e. do you really need to be involved at all, other than maybe putting him up when he comes to visit?)

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This all sounds very complicated - and only a mug would trust me with his money!

I think I'll help him to find a bank, but apart from that, I'd rather not get involved with joint accounts and suchlike.

Thank you for the suggestions, though.
Indeed - let others handle their own money...
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