In this article, we’re exploring what you need to open a bank account in Switzerland. We’ll share details on the account balance specifications and the common Switzerland banking requirements you can expect when applying to open a bank account in Switzerland as a non-resident.
This article is part of our free series on Switzerland account opening requirements. You can access this series right now by using the link above.
In addition to detailed account opening guides, this free series on Swiss banking also discusses the largest banks in Switzerland, Switzerland’s opening requirements, the costs of banking in Switzerland, and much more. Use the link above to start exploring all of your free Swiss banking content right now.
Alternatively, use the table of contents to continue exploring more information on what you need to open a bank account in Switzerland.
Table of Contents
- What Do You Need to Open a Bank Account in Switzerland?
- Frequently Asked Switzerland Banking Questions
- Do You Want to Open a Switzerland Bank Account?
What Do You Need to Open a Bank Account in Switzerland?
To open a bank account in Switzerland, you will need to complete an application form, provide proof of identification, submit supporting documents, and make a qualifying deposit.
Not all banks in Switzerland are created equal. Each bank will have its account opening requirements and procedures applicants will need to follow.
Depending on your citizenship, residency, the bank you choose, and the type of account you want to open, the requirements you are required to meet will vary. This also includes the initial deposit and how much money you need to open a Swiss bank account.
Here are the six common requirements Swiss financial institutions request all applicants to provide when opening an account in Switzerland.
Swiss Bank Account Opening Requirements
- Completed application form
- Two forms of government-issued identification
- Proof of address
- Proof of income or source of wealth
- Bank reference letter
- A qualifying deposit
Banking in Switzerland is often reserved for high-net-worth individuals seeking specialized financial services, such as private banking and wealth management. Applicants can expect deposit requirements in the range of USD 500,000 to USD 3,000,000 when applying to open a bank account in Switzerland.
how much money do you need to open a Swiss bank account
If you are interested in learning more about banking in Switzerland, don’t forget to visit our comprehensive guide on banking in Switzerland, available in the link above.
Alternatively, if you would like to explore all of your offshore banking options, download our free guide and compare Switzerland to some of the top banking jurisdictions available.
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Frequently Asked Switzerland Banking Questions
Below are a few of the most common questions we receive from people exploring what you need to open a bank account in Switzerland. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
Can Foreigners Open a Bank Account in Switzerland?
Yes, foreigners can open a bank account in Switzerland as long as they choose a suitable financial institution, meet the requirements, and make a sizeable deposit. Foreigners can also open bank accounts 100% remotely. That said, not all banks accept foreigners, and of the banks that do, not all offer remote opening. Bank selection is an important factor to consider when choosing where to open a bank account online as a foreigner.
Which Swiss Bank Is Best for Foreigners?
The Swiss bank that is best for foreigners will ultimately depend on the person applying to open the account. More specifically, their citizenship, residency, banking needs, and deposit level. It’s important to choose banks that have requirements you can meet, offer services you are after, and align with your banking needs.
What Is the Minimum Balance to Open a Bank Account in Switzerland?
The minimum balance to open a bank account in Switzerland will depend on the person applying and the bank they choose. Banking in Switzerland is often reserved for high-net-worth individuals who are willing and able to make sizeable deposits in the range of USD 500,000 to USD 3,000,000.
Do You Want to Open a Switzerland Bank Account?
If so, you can access GlobalBanks IQ and start the process of applying in Switzerland in a few clicks.
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+ Expert insights on which banks to choose & why
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+ Plus, get YOUR most pressing bank account opening questions answered by our team!
And “yes!” GlobalBanks IQ helps foreigners and non-resident individuals open bank accounts.
In fact, GlobalBanks IQ even helps non-resident, foreign & offshore entities open bank accounts.
To learn more about opening accounts with GlobalBanks IQ, use the link in the top menu. Or, contact us directly with any questions!
