Estate Planning & Probate Lawyer, Fort Lauderdale, FL

Swiss Bank Account Attorney Serving South Florida

Is offshore planning right for you? Contact us to find out.

Swiss bank accounts are often depicted as secret, untouchable caches hidden under lock and key, in a far away, impenetrably safe place. While Swiss banking offers many protections to foreign investors, it's not quite like it is on TV and the movies. Also, in recent years, changing laws have transformed how these “hidden” accounts function in estate plans. Still, benefits to opening offshore and Swiss bank accounts abound for Florida residents with large estates. Depending on your circumstances, advantages to Swiss banking may include:

  • Beneficial Tax Structures
  • Asset Protection and Financial Privacy
  • Estate Planning Flexibility

At The Levy Firm PLLC, we can help investigate the right international financial planning strategy to meet your needs. Our boutique South Florida law firm has the resources, knowledge, and dedication to maximize tax protection and financial mobility. To learn more about how Fort Lauderdale estate planning attorney Geoff Levy can help you with your international asset goals, contact us for a confidential free consultation.

What is a Swiss bank account?

Switzerland offers political stability and a well-regulated banking system that provides a secure environment for preserving and protecting assets. Swiss banking laws historically prioritize client privacy, making these accounts attractive for individuals who value discretion and confidentiality in their financial affairs.

However, it's essential to consider how federal U.S. taxes apply to foreign assets. When structured and disclosed appropriately, some individuals may benefit from Swiss accounts. If international finances aren’t structured correctly, the fallout can be extremely expensive.

International tax havens

Switzerland is a worldwide leader in private banking and investments, but more countries have raised their profile for international investors as well. The following countries are known for welcoming US dollars – some of them offer stable banking, some offer lucrative investment opportunities, others offer both.

  • Cayman Islands
  • Singapore
  • Luxembourg
  • Bermuda
  • Isle of Man
  • Panama
  • Guernsey
  • British Virgin Islands

For information on which specific country may have the most advantageous financial laws for your circumstances, contact Geoff for a consultation.

How to open a Swiss bank account

Not just anyone outside of Switzerland can open a Swiss bank account. Individual Swiss banks may have specific requirements and procedures, and they may conduct due diligence to ensure compliance with Swiss and international regulations. For help establishing a Swiss bank account, contact The Levy Firm PLLC. We can assist you every step of the way, starting with:

  • Research and Choose a Bank. Only work with reputable Swiss banks. Choose one that aligns with your financial goals, preferences, and services offered.
  • Apply to open an Account. Once you’ve chosen a bank, prepare the necessary documentation: valid passport, proof of address, proof of income or employment, and information about the source of your funds. Next, get an application from the bank and fill it out.
  • Submit Completed Application. Some Swiss banks require you to have the application notarized. Others allow you to apply online.
  • Verification. The bank will likely want to verify your information. This may involve a video phone call or a visit to a Swiss embassy or consulate.
  • Activating Your Account. Application processing time varies by bank. Once approved, the bank will provide instructions on how to make deposits, withdrawals, and how to use other banking features. Activate your account, set up security measures, and stay up to date on account details.

Remember, international banking regulations and tax laws are complex and subject to change. Therefore, it is important to monitor and update foreign contracts regularly.

Could a Swiss bank account help secure your future?

Swiss bank accounts may offer benefits, but there are legal and tax considerations to determine if such a move is suitable for your situation. Geoff has the financial and legal experience to leverage Swiss, US, and Florida regulations to ensure maximum benefits. To find out if offshore planning and Swiss banking is right for your estate, contact Geoff for a free confidential consultation.

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Free Consultation. Contact Us Today.

If protecting your legacy and the financial security of your loved ones is a concern of yours, it’s a concern of ours. Let’s talk. Our law firm provides legal services in English and Spanish. Free consultations for new clients.

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