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My thread was deleted - offshore swiss account.

  • 22-02-2022 5:27pm
    #1
    theguzman
    Registered Users, Registered Users 2 Posts: 2,081 ✭✭✭


    I made a genuine thread here yesterday about the possibility of opening a genuine offshore account in Switzerland since Irish banks don't answer phones or do customer service anymore.

    I don't know who the moderator is here since Boards wrecked its layout and the new site is a pig of a thing.



Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,739 Mod ✭✭✭✭Henry Ford III


    I can't see any sign of it op.



  • #3
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,363 Mod ✭✭✭✭Jim2007


    https://www.boards.ie/discussion/2058234276/my-thread-was-deleted-offshore-swiss-account

    I deleted the thread because it was a rant, not a genuine and factual issue relating to consumer banking.

    As for opening an offshore account with a Swiss bank, unless you have between €5M - €7M that you are willing to have as AUM as opposed to on deposit and are willing to pay substantial fees as well, they are not interested. In accordance with the new MLA rules, only Swiss citizens are not entitled to have a truly secret bank account and there have been for decades now special arrangements between Switzerland and Ireland to facilitate the easy exchange of financial information. Furthermore, you should be aware that here in Switzerland we assume adults are capable acting in their own interests and as a consequence there is little or no consumer protection in the financial sector. As a result there are some unlicensed institutions pro-porting to offer banking services to non residents. If you get burned by such an organisation the Swiss authorities will not get involved, so be careful what you do.

    [In particular I remember one institution in the French speaking part of the country that was targeting Irish residents during the last recession]



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