Opening an account is no longer limited to a passport, apostilled company documents and a down payment. A Swiss or Liechtenstein bank first determines whether the client understands: the origin of the capital, the tax status, the ownership structure, the geography of operations and the economic connection with the bank.
- The bank's license is verified only in the official register of FINMA or FMA Liechtenstein.
- Switzerland offers a wider market; Liechtenstein is particularly focused on private banking and wealth management.
- It is possible for a non-resident and a foreign company to open an account, but the client profile and the bank’s appetite must match.
- Confidentiality does not exclude AML/KYC, CRS, FATCA, sanctions screening and tax reporting.
- Neither a consultant nor a preliminary discussion with the bank can guarantee a positive compliance decision.
01
Switzerland or Liechtenstein
Wider choice of universal, cantonal, private and investment banking providers.
A compact financial center with a focus on private banking and international wealth management.
Suitable for operating, treasury and investment tasks with sufficient business nexus.
Often considered together with foundation, trust, family governance and investment portfolio.
The jurisdiction is not selected separately from a specific bank. First, a client profile and transaction scenario are formed, then the licensed market and eligibility are checked.
02
Which banks to consider
FINMA publishes the official list of Swiss banks and securities firms, FMA Liechtenstein - register of licensees. UBS, Julius Baer, Zürcher Kantonalbank, Lombard Odier and other licensed institutions are present on the Swiss market; in Liechtenstein - LGT, LLB, VP Bank and other banks from the FMA register.
The name of the bank in itself does not indicate anything about its willingness to accept a non-resident, company, fund or trust. Within one group, criteria may differ by booking center, client country, portfolio size and type of operations.
03
Personal, corporate and structural account
Residence, profession or business, wealth history, purpose of the account and expected transfers.
Real activities, contracts, counterparties, payroll, taxes, turnover and business nexus.
Ownership chain, portfolio companies, dividends, financing and governance.
Founder/settler, council/trustee, protector, benefit, distributions and tax classification.
Strategy, manager/adviser, investor base, regulation, custody and source of subscriptions.
04
Package of documents
- 01
Passport, address, tax numbers and residence of each relevant person.
- 02
Constituent documents, registry extract, good standing and ownership chart.
- 03
Board resolution, power of attorney and specimen signatures.
- 04
Business profile, website, contracts, invoices and financial statements.
- 05
Documents source of wealth: sale, dividends, salary, business ownership, inheritance or investment history.
- 06
Source of funds for the first and subsequent transfers.
- 07
Description of expected activity: currencies, countries, counterparties, volumes and purpose.
- 08
CRS/FATCA self-certification and tax justification of the structure.
05
Source of wealth and source of funds
Source of wealth explains how the client's total wealth is formed; source of funds - where a specific transfer comes from. For the bank, a verbal description is not enough: the chain is confirmed by contracts, statements, reporting, tax returns and corporate decisions.
The questionnaire, ownership chart, financial statements, tax returns and payment purpose must be agreed upon. Unexplained bridging companies and loans increase the risk of failure.
06
How is the opening going?
- 01Profile
Client, residence, structure, assets and operations.
- 02Bank mapping
License, segment, eligibility, minimums and geography.
- 03Pre-screening
Anonymized or matched profile without promise of approval.
- 04Application
Forms, KYC evidence, interview and follow-up.
- 05Onboarding
Agreements, first transfer, e-banking and transaction controls.
The period depends on the completeness of the file, complexity, countries and compliance queue. The promise of a “weekly bill” without preliminary analysis is an unreliable guide.
07
How does the account work after opening?
Approval does not complete the check. The bank compares actual transactions with the declared profile, requests underlying documents, updates KYC and checks for changes in ownership, residence, activities and benefits.
For a corporate account, authorized signs, dual approval, e-banking roles, payment evidence, securities mandate, custody, FX and reporting are predefined. A portfolio management account may not be suitable for intensive commercial payments.
08
CRS, FATCA and privacy
Bank secrecy protects information from unauthorized disclosure, but does not preclude lawful transfer to tax authorities, AML investigations and execution of mandatory requests. Tax residency, controlling persons and classification structures are analyzed before signing the self-certification.
The goal is a legal and serviced account with correct declaration. Attempting to hide residency or beneficiary creates the risk of refusal, blocking and legal liability.
09
Why does the bank refuse?
The refusal of one bank does not prove the impossibility of opening an account at all, but before going to the next one, you need to eliminate the reason, and not send out the same package en masse.
10
Before contacting the bank
- 01
Define the task: payments, treasury, custody, investment or wealth planning.
- 02
Check the bank and license type in the regulator's register.
- 03
Collect ownership, governance and tax map.
- 04
Confirm the source of wealth and each planned source of funds.
- 05
Compare expected transactions with the bank's product.
- 06
Prepare nexus explanation and personal interview.
- 07
Set up subsequent document retention and KYC refresh.