If you then would like to open the account, you can send us the signed documents including a notarized copy of your passport and proof of address by post to the following address:Īlongside the postal option, you can also complete the account opening directly online.
#Swiss number account registration#
We check the registration and then send you the account opening documents. However, the amount almost doubled in the case of Pakistan to over CHF 642 million.We are glad to say you can request an account via our website, giving information online to register for the service you want. The countries for which Swiss banks reported a decline in amounts due to clients included the US and UK, while the money parked by individuals and enterprises from Bangladesh also declined during 2020. Others placed above India included Netherlands, UAE, Japan, Australia, Italy, Saudi Arabia, Israel, Ireland, Turkey, Mexico, Austria, Greece, Egypt, Canada, Qatar, Belgium, Bermuda, Kuwait, South Korea, Portugal, Jordan, Thailand, Seychelles, Argentina, Indonesia, Malaysia and Gibraltar. India was placed at 51st place, ahead of countries like New Zealand, Norway, Sweden, Denmark, Hungary, Mauritius, Pakistan, Bangladesh and Sri Lanka.Īmong BRICS nations, India stood below China and Russia, but above South Africa and Brazil.
Others in the top 10 were West Indies, France, Hong Kong, Germany, Singapore, Luxembourg, Cayman Islands and Bahamas. While the UK topped the charts for foreign clients' money in Swiss banks at CHF 377 billion, it was followed by the US (CHF 152 billion) at the second spot - the only two countries with 100-billion-plus client funds. Overall, customer deposits in all Swiss banks rose in 2020 to nearly CHF 2 trillion, which included over CHF 600 billion of foreign customer deposits. Such exchange of information has taken place in hundreds of cases so far. In addition to this, Switzerland has been actively sharing details about accounts of Indians suspected to have indulged in financial wrongdoings after submission of prima facie evidence. Under this framework, detailed financial information on all Indian residents having accounts with Swiss financial institutions since 2018 was provided for the first time to Indian tax authorities in September 2019 and this is to be followed every year.
Swiss authorities have always maintained that assets held by Indian residents in Switzerland cannot be considered as 'black money' and they actively support India in its fight against tax fraud and evasion.Īn automatic exchange of information in tax matters between Switzerland and India has been in force since 2018. It peaked at over USD 2.3 billion (over Rs 9,000 crore) at the end of 2007. This figure takes into account deposits as well as loans of Indian non-bank clients of Swiss-domiciled banks and had shown an increase of 7 per cent in 2019, after declining by 11 per cent in 2018 and by 44 per cent in 2017. On the other hand, the 'locational banking statistics' of the Bank for International Settlement (BIS), which have been described in the past by Indian and Swiss authorities as a more reliable measure for deposits by Indian individuals in Swiss banks, show an increase of nearly 39 per cent during 2020 in such funds to USD 125.9 million (Rs 932 crore). This includes data for branches of Swiss banks in India, as also non-deposit liabilities. These figures also do not include the money that Indians, NRIs or others might have in Swiss banks in names of third-country entities.Īccording to the SNB, its data for 'total liabilities' of Swiss banks towards Indian clients takes into account all types of funds of Indian customers at Swiss banks, including deposits from individuals, banks and enterprises. These are official figures reported by banks to the SNB and do not indicate the quantum of the much-debated alleged black money held by Indians in Switzerland. All four components had declined during 2019.
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