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Old 07.03.2021, 12:19
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Any implications of getting an ITIN for a non-American in Switzerland?

Hi,

I (non-American, non-Swiss, living in Switzerland) am considering making an investment in the US, which will require me to get a US ITIN number, and to submit tax return forms in the US for a few years.

Could it have any negative implications for my life in Switzerland? E.g would the Swiss banks or authorities consider me a "US person" for any matter and have any new restrictions or requirements for me?

Thanks!
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Old 09.03.2021, 12:24
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Re: Any implications of getting an ITIN for a non-American in Switzerland?

Having anything to do with the US will have Swiss banks pull the alarm bells. Any bank you are currently banking with in Switzerland will probably try and dump you or at best charge you a fortune for the privilege of banking with them.
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Old 09.03.2021, 12:45
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Re: Any implications of getting an ITIN for a non-American in Switzerland?

Quote:
I (non-American, non-Swiss, living in Switzerland) am considering making an investment in the US, which will require me to get a US ITIN number, and to submit tax return forms in the US for a few years.
Are you sure about this?
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Old 09.03.2021, 15:36
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Re: Any implications of getting an ITIN for a non-American in Switzerland?

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Having anything to do with the US will have Swiss banks pull the alarm bells. Any bank you are currently banking with in Switzerland will probably try and dump you or at best charge you a fortune for the privilege of banking with them.
This.

Expect a LOT of paperwork for opening any new accounts.... and most large banks will close your account. Someone in my family had his account closed on the spot - and got asked "where would your like your funds transferred to?"... no appeal, nothing.

Dealing with the US, thanks to US regulations, is a massive pita for most banks. Unless you are using a private bank with a dedicated account manager and many zero's at the end of your balance (7 digits or more), expect to be dumped.
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Old 09.03.2021, 17:12
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Re: Any implications of getting an ITIN for a non-American in Switzerland?

All that is true, but for an investment? My broker often makes investment in US shares and equities. And I donít need an ITIN
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Old 09.03.2021, 17:15
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Re: Any implications of getting an ITIN for a non-American in Switzerland?

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Having anything to do with the US will have Swiss banks pull the alarm bells. Any bank you are currently banking with in Switzerland will probably try and dump you or at best charge you a fortune for the privilege of banking with them.
Not for buying US shares???
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