Swiss Banking Lawyers

Are E-Bankaccounts available in Offshore Countries?

We are using less cash money for our transactions. The governments do not like cash transactions because they are not traceable because there is no paper trail. The pressure on cash will increase. Younger people are happy if they can do their transactions on their mobile phone with few clicks. Older people prefer cash money.

E-bank accounts have become more attractive than ever before in human history. Many banks in offshore countries are offering bank account services online. To open bank account online is possible today. In every offshore country you can find banks offering e-bank accounts.

The people have more comfort with online banking facilities then ever before. Online banks can offer a more competitive pricing because of lower costs. E-bank accounts are more attractive. Online banks have become more secure than ever before.

The most important offshore jurisdictions can offer an effective internet access to potential customers.

Offshore Banking Online

Opening a bank account in an offshore banking jurisdictions will result in a better protection of your assets. Do not

hold all of your assets in your country of residence. You should diversify your assets opening an offshore bank account far away from the influence of the courts rooms at home. In case of a worst case scenario, you maintain the access to your offshore assets. It will be not so easy to freeze your money if your money will be invested in an offshore bank out of your continent of permanent residence,

Offshore banking online is available in all important offshore countries. In most of the offshore countries, you can open a bank account online, Off course, also online banks are subject to the laws combatting money laundering. Instead visiting the bank in person, the personal identification will be made by a certified passport copy and a video conference with an offshore bank officer.

Once the offshore bank account is open, you will have access to credit and debit cards. Based on offshore banking online services you can spend your money in your home country. Choose an offshore country known as a tax haven country.

The financial institution must have a good banking system imposing high capital requirements for the offshore banks. Switzerland, for example, will not tax your offshore bank account. Obviously, you have to file your tax return at home. The place of residence is important for taxation purposes.

Many jurisdictions have introduced physical presence requirements for the creation of tax liabilities.

“Having an Offshore Bank Account is not illegal – but hiding is!”

You have to comply with your tax reporting obligations at home. As long as you are not hiding money offshore, it is 100% legal to own an offshore bank account. As long you will report your offshore bank account
at your tax agency at home having an offshore bank account is 100% legal.

Private Swiss Bank profit from Taxes

Switzerland is famous for reliable and secure offshore banking services. With a private Swiss bank profit from taxes is not difficult. Switzerland and your private Swiss bank will not tax your Swiss bank account
. It will be your home country of residence taking taxes from you.

Due to the Automatic Exchange of Information (AEOI) and the Common Reporting Standard (CRS) you must know that your Swiss bank will disclose your bank account information to your country at home. Capital gains, dividend income and interests are taxed in most of the countries. Things have changed. Tax evasion is not possible anymore.

If you will not report your income previously generated with your offshore banking activities, your tax agency at home will notice that you have realized a taxable income.

In Switzerland, privacy is very important and well protected. Unfortunately, the AEOI and CRS have cancelled this bastion of banking secrecy.

CAPUTO & PARTNERS – ZÜRICH – SWITZERLAND
CALL: +41 44 212 4404 – EMAIL: contact@swiss-banking-lawyers.com