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Swiss based banks
Swiss based banks with a significant presence domestically and overseas with considerable assets under management are
1. Bank Sarasin & Cie AG
2. Clariden Leu AG
3. Credit Suisse
4. EFG Bank European Financial Group SA
5. Julius Bär & Co. AG
6. Rothschild Bank AG
7. UBS AG
8. Union Bancaire Privée, UBP
9. Bank Vontobel AG
Banks Incorporated in Switzerland are nearly 200 in numbers. There are 13 Family Owned Swiss Banks.in Switzerland.
Swiss Branches of International Banks are in most of the countries including India and Pakistan.
Swiss bank accounts
Swiss bank accounts offer you the strictest privacy, total safety and they are tax-free.
With your Swiss bank account you can earn interest in any currency you want, you can
receive an international credit card and even bank entirely online. Any one can an open a Swiss bank account with a small
amount. You don't even need to come in Switzerland - if you want we can open your
account by mail. Several companies works with large Swiss banks and for a small set-up fee, they can open you an account within days.
Type of some Swiss bank accounts are - Classic Swiss Bank Account,
Powerful Swiss bank account, Online Swiss Bank Account, Premium Swiss bank accoun, Swiss Canton Bank Account, Swiss numbered account etc.
Closing an account
There are no restrictions when it comes to closing an account in
Switzerland. You are free to close your account if you wish. The procedure is immediate and cost-free. Of course, if your money is
invested, it generally takes a day or two to liquidate positions, but
even so, no one will prevent you from withdrawing your funds or charge you a financial penalty.
India, Switzerland sign revised taxation treaty
India and Switzerland on august 30, 2010 signed a treaty that will enable exchange of information on tax
evaders, considered a must for getting details on unaccounted funds
stashed away by Indians in Swiss banks. The treaty is a revised version of the existing Double Taxation
Avoidance Agreement between India and Switzerland and was signed by
visiting Swiss Foreign Minister Micheline Calmy-Rey and Finance Minister
Pranab Mukherjee. Besides the two dignitaries, Finance Secretary Ashok
Chawla, Revenue Secretary Sunil Mitra, Chief Economic Advisor Kaushik Basu and Swiss
Ambassador Philippe Welti were also present on the occasion.
The Swiss Federal Department of Finance (FDF) said in a separate
statement, "The revised Double Taxation Agreement contains provisions on
the exchange of information in accordance with the OECD standard, which
were negotiated in line with the parameters decided by the (Swiss) Federal Council."
Swiss banks had said that exchange of information would be based on OECD
(Organisation for Economic Cooperation and Development) norms.
Switzerland is entering into revised tax pacts with many countries in
accordance with OECD's Model Tax Convention to facilitate the bilateral
exchange of information related to the bank accounts of tax evaders.
In the case of dividends, interest, royalties and payments for technical
services, the clause makes provision for the lowest withholding tax rate
-- which India has with another OECD nation -- automatically applying to
Switzerland. The revised treaty would also ensure that in the future, shipping
companies operating internationally would have to pay tax on their
profits only in their country of domicile. Currently, India has DTAAs with as many as 79 countries, but none of
them has provisions for exchange of information related to taxation. |
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