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There are many attractions of banking in Switzerland. Switzerland enjoys political neutrality and has traditionally offered a refuge to clients seeking to protect assets from political and economic instability elsewhere. Banking secrecy is enshrined in the country's Civil Code, and there is no Swiss taxation on the assets of non-residents. It lies at the heart of Europe and is easily accessible by road, rail or air, unlike most other offshore financial centres.
The Swiss private banking tradition goes back over 200 years. In this time Swiss banks have built an unrivalled reputation for security, discretion and trust. For most Swiss banks, private client wealth management is their main or only business. They do not tend to get involved in riskier activities such as lending or trading which have caused severe weakness or even bankruptcy in banks elsewhere. This conservative attitude makes them ideal partners for clients for whom wealth preservation is the first objective. It is estimated that one third of the world’s offshore assets are deposited in Swiss banks. |
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