SWISS BANK ACCOUNT Swiss Bank Hated www by shola12

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									Swiss Bank Hated                                    

                        Swiss Bank Hated
   How to Open a Swiss bank account from anywhere in the world
                                  in 7 day or less

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Swiss Bank Hated                         

Open A Swiss Bank Account

In this section I will show you 3 Swiss Bank for opening your Swiss
bank account.
Now, the first bank

Swiss Bank Account #1 - SwissQuote


I've go through all of my competitors to know what they are offering and
few of them even know about this bank called SwissQuote where you can
open an account immediately online!

They will even ship the welcome kit to you with FedEx.

STEP 1: Open your account

Simply visit and fill the

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Only certain countries are listed in the 'countries' field, if your country is
not listed there, you will not be able to open an account online. Here is a
list of the countries that you will found in the on line form.

Countries:         Sw itzerland

If your country is not on the list you have to open your account via
phone. You can speak English, German, French or Italian. Their contact
information are available here

SwissQuote also have a very responsive support. You can call or email
them. Please use the same information from the link above.

STEP 2: Get your welcome kit

The welcome kit will come with your account number! So please make
sure all the information is correct when you fill up the online form.
Apply only if you are serious in using this account!!!

Now, the second bank

Swiss Bank Account #2 - BEKB


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As I have told you earlier, Swiss Bank #2 (BEKB) is more picky on the
customers and they prefer more developed countries in Europe, North
America and some in Asia.

That's why I recommend you to stick with SwissQuote because my
statistics has showing that all clients are able to open an account with

There are 2 steps to apply for BEKB.


Please go to
and fill up your information there.

The form doesn't ask you for country. So I always advice my clients to
fill up their country as well in the CITY field. By doing this they can
tell you by email if they are accepting clients from your country

You will receive an email directly from the bank within 5 working days
stating that they have received your information.

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Along with the email, they will give you similar instructions that I am
giving you on Step 2 where you have to complete the identification form
and send it back to them.

If they do not accept clients from your country, they will let your know
as well. That's why I want you to fill up your country in the CITY field.


Please download the following ZIP file.

(Right Click on the above link and select "Save Target As...")

The ZIP file contains the following files

1. Identification Form
2. Bank Products Description

*Important* Write your EMAIL ADDRESS and PHONE NUMBER on
top of your identification form so they can inform you easily after they
have received your identification form and passport copy.

The form will ask you for your personal information. This includes your
name, permanent address, date of birth and passport information. After
you have filled in the form, you will need to bring it to your local banker.

Your local banker will need to look at the information and compare it
with your original passport. He will then verify it by putting his signature
and his bank’s stamp on it. This completes the 'identification' process
which is required by Swiss regulations before the bank is allowed open
an account for you.

If for any reason you do no wish to have your identification form verified
by your local banker, you can verify it by getting notarization AND
apostillization. (Note: Notarization and apostillization on the
identification form, not on the passport copy) You must have a Passport

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to open any Swiss bank account. No passport means no Swiss bank
account (there are no exceptions to this rule).

Upon completion of the identification form and verified by a local banker
(signed and bank stamped), return it along with your passport copy to

Raphael Wewita
P.O. Box
3001 Berne

After you account is opened, you will receive your account number. You
will then need to wire a minimum initial deposit of CHF 1,000 to them.
Once the money has been received, your account will be fully activated
and they will proceed to send you your online banking information. You
can now start enjoying your Swiss bank account!

Now, the third bank. You can chech a "hidden" Swiss Bank account open
proccess next

Swiss Bank Account #3 - PostFinance


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* This Swiss bank account is only available to customers from Italy,
Germany, Austria, France or Lichtenstein.

Please go to here to open your account

Yes, Here is the end of open Swiss bank account guide. To your success
on the way open your own Swiss bank account.

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Bonus Sections

1. How to get a Secured MasterCard!

To get your offshore secured MasterCard credit card. Please visit

1. Click on "Apply Now", then print out the application form.

2. You have to request a secured access code by writing an email to and include your FULL NAME.

3. After you have filled up the application form, fax a copy to 649-941-
5801 (include you international dialing code such as 00 in front) for pre-

4. Once approved, you can mail the original form and send the wire for
your secured deposit.

Do not worry about the statement saying that the application is only for
Turks and Caicos residents as it has been confirmed and proven again
and again non residents will also get approved. If you do not believe me,
just email them. :)

2. Swiss Banking Guide


Swiss Banking
Swiss banks are world-renowned for their secretive nature and protection
of clients. Swiss banks generally have higher confidentiality than other
banks, based on Swiss bank law, which regulates what information the
banks can give out. In general, there is no way to trace the source of
money placed on deposit with a Swiss bank; they do not routinely

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confirm whether a named person holds an account or not.

Due to international pressure, Switzerland has recently lowered the
restrictions, and allowed international police information about suspected

There are about 400 banks in Switzerland, ranging from the "Two Big
Banks" down to small banks serving the needs of a single community or
a few special clients. The Two Big Banks, namely Credit Suisse and UBS
, have extensive branch networks both throughout Switzerland and in
many international centers. Banks are licensed by the Swiss Federal
Government through its Banking Commission, and may operate
throughout the country. A number also have offices or other
representation in foreign countries.

The Swiss banks have a long reputation for managing investment
portfolios for their clients, and providing other services such as estate
planning, wealth management, trust companies, etc., for individual

Swiss Bank Secrecy
Swiss bankers are under obligation to keep any information about you or
your account strictly confidential. This bank secrecy is among the
strictest in the world and stems from an age-old historical tradition. It is
established in Swiss law. The banking act adds a special section
(introduced in 1934, in order to protect accounts of Germans, especially
German Jews, from Nazi confiscation) which makes it a criminal offense,
with the possibility of an individual going to jail, for the bank or its
employee or agent to improperly divulge any confidential information

The only exceptions to this rule concern serious crimes such as gun
smuggling and drug trafficking.

Bank secrecy is not lifted for tax evasion.

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This is because failure to report income or assets is not considered a
crime in Switzerland. As such, neither the Swiss government, nor any
other government, can obtain information about your bank account.

They must first convince a Swiss judge that you have committed a
serious crime punishable by the Swiss Penal Code.

Bank secrecy will not be lifted for private matters such as inheritance or
divorce if you have kept your banking information strictly confidential. It
is up to plaintiffs to prove that the account exists if they wish the judge to
pursue the case. In this respect, the numbered account provides the
maximum degree of confidentiality.

Switzerland - The motherland of banking

When comes to safety for your money, there is no other country in the
world better than switzerland. Supporting this fact, the solid reasons are

World's foremost financial center

Politically and economically stable country. Switzerland has not been
at war with another country since 1505 . The foreign policy of
switzerland is neutral and balanced. No perceived threats of war,
escalating to political instability, violence, financial crisis and terrrorist
attacks on switzerland. If you have read history, it even survived in two
big world wars, World War I and World War II too.

More than 150 years of traditional swiss banking, that too not just
simply banking, a world class and quality banking.

Switzerland is not a part of European Union and never wanted to join
european union.

The currency of switzerland is ' CHF Francs ' expands to
'Confederation Helvetica Francs' or generally swiss francs.

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More than 30% of the world's wealth are being held at bank accounts
in switzerland.

Privacy in money related matters, protected by bank secrecy laws.

CHF francs, is the world's most premier and stable currency and
fully backed by real gold bars.

Scenic beauty of alpes mountains, a popular tourist destination spot.

Swiss chocolates, a must to taste :)

One of the main reason why many people prefer switzerland compared to
other offshore zones, is the safety of their deposited money. The two
main factors to be considered is the countries economic trend, and
political scenario.

Switzerland, excels in these and further more a proven record of the 150
years of swiss tradition in banking.

What is the concept of 'Offshore' and 'Onshore'?

Explaining these two terms is that simple!

'Onshore' derives its meaning from itself. 'On' + 'Shore' refers to some
activity, where you live or domiciled. Similarly 'Offshore' deriving from
'off' + 'shore' refers to some activity 'out' of where you live or domiciled.
You might have heard of 'offshore jobs' and 'onshore jobs' which is an
intuitive example.

Let us extend this terminology to bank accounts. Let us consider that you
are a U.S citizen and you own your personal savings account in Citibank.
This is your onshore native account. If you often travel and do business
in canada, there will be a need for you, to open your bank account in
canada. Since you are US citizen, your canadian bank account gets
offshore status.

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'Offshore bank account' is the name given to the bank accounts that are
held by non-residents in any foreign country.

The main advantage is the bank account owned by the customer is held
100% private and confidential, for which bank secrecy laws apply, in the
country where the bank is located.

Your friends, spouses, tax authorities, personal enemies, investigators,
detectives and your government can never have access of your financial
records held in offshore.

Very importantly, offshore accounts are tax free, no capital gains,
attractive investments, and direct access to the trade markets.

  Offshore bank                                 Onshore bank
  Adheres and obeys to the laws, rules and
  regulations, where that bank is located. Eg. Local laws and regulations
  Credit Suisse, a switzerland bank comply apply.
  to laws of switzerland only.
  Privacy is the biggest advantage, protected   No Privacy. The banks
  by local laws. Privacy is a well respected    keep their doors always
  tradition for many countries including        open for anybody to walk
  switzerland.                                  in and scan your records.
  Zero tax for money deposited in offshore
  banks, with excellent interest rates and
3 attractive investments. Even your money       Not possible
  deposited in offshore savings account
  grows with interest.

Here are some of the common famous Offshore Zones : Switzerland,
Austria, Latvia, Leichenstein, Cyprus, Bahamas, Cayman Islands, Belize,

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Costa Rica, Panama, Dominica, British Virigin Islands, Isle of Man,
Cyprus, Mauritius, Singapore, HongKong, and Cook Islands.

These places are notoriously called 'Tax havens of the World' because
they offer significant tax benefits like no income taxes, no estate taxes,
no capital gains, excellent interest rates for investments, direct access to
stock markets.

Switzerland is the undisputed leader in offshore. Neverthless, privacy is a
biggest attraction in these 'Tax Free Zones' of the world.

Taxes in switzerland for non residents

Non-residents bank accounts in switzerland are completly tax-free. This
means, there are no income taxes, no capital gain taxes, no real estate
taxes, no inheritance taxes plus a bonus of your privacy.

Swiss residents are subjected to income and net wealth taxes. Non-
residents as long as you do not derive any income inside switzerland, you
are free from swiss taxes. Some of the examples which bind you for
swiss taxes are

   •   Real Estate Income
   •   Income from business establishments in switzerland
   •   Interest on mortgages
   •   Pensions relating to former employment in switzerland

There is a special tax called WITHOLDING TAX (35%) levied on
dividends, bank loans, and certain insurance payments. If you live in
foreign country, and you get interest from the bank deposits, then this tax
is levied on you. Note that, only your 35% of interest gained from
deposits is subjected to withholding tax and not your capital. This is
because you are generating money inside switzerland. However royalties,
swiss annuities are fully exempted from swiss witholding taxes.

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More tax related information can be found on this website

'Tax evasion' is a serious crime considered in many countries. It all
depends on how properly you plan your taxes. 'Tax Avoidance' , 'Tax
Evasion', 'Tax cuts' are very different terms, have different meanings with
one another. 'Tax avoidance' is perfectly legal, while 'evasion' is a crime.
Tax laws vary from country to country and laws are subjected to change
anytime. We highly recommend you to consult and ask advice from tax
authrorities or attorneys, before you properly structure tax planning. It is
very important that you use your offshore bank accounts for legitimate
purposes. It is fully LEGAL to own your private bank account.

If you are a U.S citizen, the IRS will ask you to file Treasury Form
90.22.1, if you own a offshore or foreign bank account. You might need
to report to IRS if your foreign bank account value is more than 10'000
USD annually.

Also as per new IRS code, there is no need to report your swiss annuities.
If you fail to report your account to IRS it may constitute 'tax evasion'
which is a serious crime.

There is no need to file this form if your savings in foreign account is less
than US$10'000 annually.

There is no harm in honestly honestly filing your taxes to IRS. You might
also be aware that any attempt to defeat taxes constitutes a crime. You
may wonder if IRS might conduct an audit to your foreign account.

Well, to speak the truth, IRS is on hunt to people who DONT report their
foreign account, than people who report it honestly. More information is
available on I.R.S Website.

Privacy in Switzerland

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Privacy is the fundamental right to any citizen, very importantly greatly
demanded in money matters. It may not be available in your country, but
many countries in europe, like austria, latvia, and switzerland well
respect privacy in money related matters. This is not limited to local
country people and holds true even for non residents.

Many people demand privacy for their money from personal enemies,
business rivals, liens, lawsuits which plays an important decisive role
both now, and importantly in later part of one's life. Safe guarding ones
hard earned assets, will be the primary importance for anybody. Think
about business failures, unemployment, retirement, losing lawsuits!.
These disasters could be big nightmares. One proverb says "It is always
not too late to correct your mistakes" but do it before it is too late. You
may not know the future!!

When i was a small boy, once i hear from TV news, or from newspaper
about somebody caught with swiss bank account, i panic. I wonder how
rich and royal class people are they! Not only me, almost many people
would fear of somebody having swiss accounts and think that these
accounts are only for elite, corrupts, politicians, terrorists, kings etc.
These old cliches got deep rooted in the minds of many people. Still
seems to have not faded.

The reality is anybody whosoever may be it is, worker or a king or you ,
will look into the way of protected your money and safeguarding your
assets. Financial privacy from your friends, relatives, family members
and other third persons will be an inevitable one.

In recent years, swiss banks welcome all foreign people and bank
accounts had become so cheap and can be affordable by any ordinary
person. Gone all old proverbs and myths of swiss bank accounts. Many
banks in switzerland demand no minimum balance or account
maintenance fee with your account. Opening your swiss account could be
the easiest ever imagined compared to the bank next to your house. You
can just simply open your swiss account, and keep $1 for years. No
questions asked. Very importantly, your money in swiss savings account,

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does grow with interest. Though the interest rates are not very lucrative,
but safety is guaranteed.

Say, if you often travel worldwide, or you are a student, you want to bank
transfer your money to your friend or a business, your local bank charges
would be as high as $50 per transfer even for a small amount. Crediting
your cheque take hell a lot of time with your country bank. But bank
transfers with your swiss bank, costs $0 for < $50 transfer, costs $5 for
amount <$200 transfer and $20 for $2000 or more. See the advantage.
Also, these all can be done with internet banking, just with a click you
can issue checks, receive money through Western Union and more.
Crediting your cheks, should not take no more than 3 days. See the
advantage. That is why often called, a world class banking. You will
have your separate account manager assigned to you, even if you hold $1
in your account.

Bank secrecy in Switzerland

Swiss banks and their staff are obligated to keep all data, documents, all
sorts of relationships beteen bank and client, strictly private and
confidential and are bound to respect clients private matters. The
obligation to maintain banking secrecy applies to all those who are
employed by or are members of any part of a bank, as well as to its
auditors and the members of its board of directors. It continues even after
termination of their employment (Federal Law on Banks and Savings
Banks of 8 November 1934, Article 47). Any banker who divilges the
private records of his client, or a third party, may face a jail sentence or
be fined. Confidentiality is not, and has never been, absolute because it
does not protect criminals. Swiss banks consider it to be of paramount
importance for their financial centre to be free of criminal activities. One
of the experts quoted saying that 'they wanted cleanest money in their

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Article 47 of the Federal Law on Banks and Savings Banks, was enacted
on 8 November 1934. This article prohibits anyone who functions as an
officer, employee, mandatory, liquidator or commissioner of a bank, as a
representative of the Federal Banking Commission, or as an officer or
employee of a recognized auditing company, from disclosing any
information that a bank customer entrusts to them in this capacity. Article
273 of Swiss Penal Code punishes responsible persons of breaking the
law. The convicted persons may face a jail sentence or fine upto CHF
30'000 CHF or both. The violation of bank customer confidentiality
remains punishable even after the termination of the official or
employment relationship or the exercise of the profession (Art. 47,
Federal Law on Banks and Savings Banks).

Criminal Activities

Bank secrecy laws cannot be exploited and are NOT meant to shield
criminals and criminial activities.

Swiss authorities are increasingly cooperating with other International
world countries to combat terrorism, drug trafficking, weapons
smuggling, trafficking of women and children etc... Bank secrecy can be
easily lifted, without the knowledge of the client by direct judicial orders.
The swiss judge may request the clients records from the respective swiss
bank, if the client is found to be involved in illegal criminal activities.
Banking secrecy is not waived in cases of tax evasion (such as the mere
non-declaration of income or assets). However, tax fraud (false invoices,
false accounting, etc.) are criminal offenses. Whether they are committed
in Switzerland or abroad, the judge trying the case has the right to obtain
information on the accused's bank accounts.

Swiss Banks have no interest in money derived from illegal crimes and
therefore had adopted strict measures in place to prevent unwanted
money from entering the country. Identification of the customer, is very
imperative for the swiss banks which forms the very important element

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of due diligence. The banks are required to know their customers, and
make sure that their deposits are free from illegal activities. Most of the
banks in switzerland would ask the client to show proof for economic
origin of funds. Thus the identity of the client ALWAYS known to the
bank and limited to certain bank staff. Also there is no such concept of
'anonymous banking' in switzerland. Your identity is always known to
the bank.

Due to the recent international pressure and increasing criminal activities
committed in switzerland, banks conduct due diligence of any body who
wants to bank in switzerland. Banks do screen high volume of money
flow in and out of any bank account for illegal activities. The banks
always observes 'Know your customer' rules. That is why many brokers
do ask for proof for economic origin of funds while opening your
account. Visit International money laundering association

Bank secrecy is waived in switzerland, for the following reasons

- Funds from criminal activities, tax fraud, theft, crime, blackmail, money
- Civil Proceedings / bankruptcy cases

For more information visit Swiss Bankers Association

Private banking in Switzerland

Private banks are the banks mostly owned by individual assuming
unlimited liability, who can take their own decisions on their bank and
also personally liable for their assets in banks commitment. Private banks
are among the oldest banks in Switzerland offer accounts chiefly for
private clients. Never think of entering a private bank in switzerland, if
your deposit is less than $1 million.

The oldest private bank in Switzerland is Bank Wegelin & Co, founded
in 1741. In Geneva, the oldest one is Darier Hentsch & Cie, founded in

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1796, followed in 1798 by Lombard, Odier & Cie. The “youngest” one is
Mourgue d’Algues & Cie, founded in 1869.

You benefit in the following ways from a private bank.

   •   As a private bank customer, you get the world's best banking
   •   A separate personal account manager will be assigned to you, who
       will take care of you 24 hrs.
   •   Advise to the worlds best investments in bonds, stock markets,
   •   Highest standards of privacy, automatically attaching your deposits
       to numbered account.

Numbered account - your secret bank account

Do you know that your privacy, is worth very much in financial matters?

Imagine your money, free from family members, spouses, business
persons, tax authorities, govt officials, kept in a distant money haven!

The concept of 'Numbered bank account' originates from Switzerland,
and currently prevails in Europe. Very few banks in Switzerland,
Liechtenstein, Austria, Latvia issue numbered accounts, popularly in
german called as "Nummerkonto". Numbered accounts are the most
famous highly private account conceals the identity of the client holding
the account owned by big millionaires, business lords, and many eminent
personalities worldwide. Numbered accounts (or pseudonym accounts)
omits reference to the customer's name or other identifying information,
replacing it with a code number or the pseudonym name chosen by the
user of the account. All the transactions made in the form of cheques,
ATM cards, billing statements show the chosen number or pseudonym
name replacing the true name of the account holder. This account,
otherwise also known as Named account or Pseudonym accounts. Thus

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the identity of the clients are never exposed. Infact you can also receive
checks in the name of your chosen code.

You have to be very careful in chosing your code name. Your code name,
may not contain....

   •   Names of famous persons
   •   referring to business entities
   •   trademarked names
   •   Names of famous products
   •   and must be unique.

Dormant accounts in Switzerland

It might happen that when the account holder dies without leaving any
trail of his contact details for a long time,specially in times of sudden
death, the bank would try to establish contact with the client without
violating secrecy law. Should the banks search turn into an unsuccessful
one, it would wait for atleast 10 years to hear from the account holder. If
this also fails, then the bank will change the status of bank account from
'active' to 'dormant' and special provisions apply. If the account holder
had nominated a beneficiary on account of his death, then the assets held
will be transferred to the named beneficiary. The descendents can also
claim the 'dormant' assets if they know where exactly the assets were
held and which bank. Normally bank would ask for some paper work like
death certificate etc. of the account holder. Ironically, the real problem is,
it is very difficult to locate a particular bank account, in switzerland as
there are about 400 banks in switzerland. You cannot just simply walk
into a bank and ask 'Whether this person X is having an account with
you?'. There are a list of dormant account holder names published in

To make a search on dormant assets held in accounts opened with Swiss
banks by non-Swiss nationals or residents after May 9, 1945 please
contact the Ombudsman of the Swiss Banks is an impartial source of
information and an intermediary whose services are free of charge.

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Swiss Banking Ombudsman
Schweizergasse 21
P.O. Box 1818
CH-8021 Zurich
Tel.: (011) 411 - 213 14 50
Fax: (011) 411 - 210 37 20

If someone suspects that he or she might be entitled to assets held by a
Swiss bank, but does not know which one, a search can be initiated
through the Contact Office attached to the Ombudsman. A search
questionnaire can be obtained from:

Contact Office for the Swiss Banks
P.O. Box 1818
CH-8021 Zurich

How to prevent your swiss bank account from becoming dormant

[Courtesy : MTBI International, Zürich]

1. Change of Name & Address
Please inform your bank immediately if you change your address, or if
you use a different name, e.g. following marriage.

2. Special Instructions
Inform your bank if you go away for an extended period of rime and
arrange for correspondence from your bank to be sent to a third party or

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at the bank during your absence.

3. Designating Proxy
It is generally advisable to designate a proxy or representative with full
power of attorney who can be contacted by your bank should your assets
become “dormant”.

4. Informing Trusted Persons
Another possibility to avoid dormant assets is to inform a trusted person
about your bank details. The bank can only give information to such a
person if you have first authorised him or her in writing to act on your
behalf. You could also list your assets and the name of the respective
bank(s) where they are deposited in your will.

What is a swiss annuity?

Swiss annuities are the most trusted and safest regarded asset protection
in the world. A 'swiss annuity' is an investment in switzerland, involving
a contract between you, the policy holder and a swiss insurance
company. You invest a lumpsum and start enjoying benefits in your later
life. The significant importance with the swiss annuity is your investment
is protected by strict bank secrecy laws of switzerland, just like swiss
bank accounts. It can also protect you from creditors, and judgement
proof. Switzerland and Leichenstein, both adopt the same secrecy laws in
annuity matters. You enjoy interest rate of about 2.5% + dividends +
currency value in case of fixed annuity, and you can expect as high 11%-
17% in case of variable annuities (depending your risk). Annuities are
permitted upto 85 years of age. In case of death, the cash value of your
annuity is paid to your beneficiaries. You can chose your way of
receiving your returns, say in one year or halfyearly or quarterly.
Monthly option is only available to the residents of switzerland. These
insurance companies that issue contracts are normally A1 rated insurance

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Another significant factor to examine is, until your annuity is fully
liquidated, you are qualified for 'tax deferral'. So longer you wait, your
money keeps grows at a compounding rate, and deferred from taxes.
There is a good news for US citizens, as foreign held swiss annuities are
meets the code for IRS tax deferral.

Are you nearing your retirement ? Thinking about your childrens
education? Having fears ? But you are unsure about the your financial
position! Do it before it is too late. 'Just sow the seeds for paddy today,
and reap your profits tomorrow'. It all depends on how good you plan.
For more information see:

Benefits of a swiss annuity

- Privacy of your investment is protected by strict swiss secrecy laws. All
transactions are kept STRICTLY confidentiale.

- Swiss annuities offer you the most competitive dividend and interest
rates. Your money keeps growing at a compounding rate together with
principal, plus accumulated interests.

- You can instruct your insurance company to make your payments from
the annuity can be made in any currency to any bank in the world of your
choice. All transactions are kept private.

- Swiss annuities offer flexibility of choosing your own currency rather
than CHF francs by default.

- No capital gains - No stamp duties - No excise taxes - No inheritance
taxes - No estate taxes.

- First Class Leichenstein or Swiss Insurance company.

- Swiss annuities are fully exempt from Withholding taxes (35%)
imposed by swiss govt on foreign held swiss bank accounts.

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- Your swiss annuity is not 'locked out '. you can cancel your annuity
anytime or if you chose to en-cash your annuity within a year, you can do
it by paying a small penalty (CHF 500). Your annuity is l00% liquid after
first year.

- Swiss Insurance companies had NEVER failed in the past 140 year
history, as switzerland forms the world's largest strong financial industry.
Statistics say that about 35% of the world's wealth being held in
switzerland. Thus your money is 'SAFE' in switzerland which is a very
importantant factor you should consider.

- According to Swiss law, insurance polices, including Swiss annuities,
when properly structured and beneficiaries named, your annuity cannot
be attached or seized, and cannot be included in any bankruptcy
proceedings. If annuity holder names their beneficiary as children, wife
or third person, no creditors of holder or their beneficiaries or liens can
attach your annuity held in switzerland, even if they are aware of your
annuity in switzerland. If you worry about your assets being seized by
creditors, plan atleast a year before to purchase a swiss annuity and name
your beneficiary. Time is very critical and crucial.

- No exchange controls can be imposed on your annuity. Policies are
subjected to strict exchange controls because there involves a contract
between the investor and an insurance company.

- You can also designate your beneficiaries as 'revocable' or irrevocable'
in your annuity.

- No forced repartiation of your investments held in switzerland and can
be seized by your home country.

- You will always receive payment, even if your annuities value is

- Payments can be made to you anywhere in the world, and to any bank
of your choice. All transactions are kept strictly confidential

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- No Limits on Duration of the Investment [5 Years is the Recommended

- You can switch to different currency of your choice any time.

- There is no limit for your investment in swiss annuity. However the
minimum amount of your annuity is USD 20'000 which the most
insurance companies demand.

   Swiss Money Secrets : How You Can Legally Hide Your Money In

Tax treatment given to swiss annuity

Swiss annuities enjoy tax free status in switzerland. Let us make a quick

1. Swiss Withholding Tax (35%)            Exempt
2. Capital Gains                          No
3. Excise taxes                           No
4. Inheritance tax                        No
5. Stamp duty                             No
6. Swiss Income taxes                     No

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7. US tax deferral                         Exempt
8. US Withholding tax                      Exempt

If the benefits are so huge, then why not it is widely available and less

Just because if these insurance companies from switzerland, promote
these products in your country, they have to obey your countries local
rules and insurance regulations. If they abide your country rules, you lose
your privacy and secrecy. Swiss insurance companies maintain a low
company profile and these insurance products little known to only few
people outside switzerland. However you are free to approach any
insurance company in switzerland and make an investment. Neither any
law would prevent you nor any questions asked!

For U.S Citizens

There is no need for US citizens to report swiss annuities to IRS in the
Form 1040, as annuities are considered to be an investment and not a
foreign held bank account. Both fixed and variable swiss annuities and
both qualify for IRS tax deferral, until your annuity is fully liquidated.
Also, there is no need to pay any taxes for your annuity until it is fully

Normally, IRS requires you to file Form 720 for 1% excise tax (which is
1% of premium paid) if you buy a foreign held annuities. But the recent
tax treaty with switzerland eliminates this tax.

If you plan to withdraw your payments before 59 1/2 yrs, IRS might
penalise you to pay additional 10% of the already taxed earnings. Please
consult your tax advisor for more information.

Difference between swiss bank account vs swiss annuity

Swiss Bank Hated                         

                      Swiss Annuity Swiss Bank Account

Asset Protection      yes              no
Creditor Protection    yes             no
                                       no (Currently no real privacy for
Secrecy               yes
                                       swiss bank accounts)
Swiss Income Tax      no               no
Swiss Withholdding
                      no               yes
                     no (variable
                    annuities only.     yes ( US citizens would require
                    enjoys tax         to report to IRS on Form 1040
U.S Income Tax
                    deferred           on any foreign held bank
                    growth) more       accounts.)
                     no (Since there
                                        no (most swiss banks dont
                    is no
U.S Withholding Tax                    allow U.S citizens to invest in
                    investment in
                                       U.S securities)
                    U.S securities)
                     no ( IRS
                    requires you to
                    file Form 720
                    for 1% excise
                    tax if you buy a
                    foreign held
U.S Excise Tax                         -
                    Recent tax
                    treaty with
                    eliminates this
EU Savings Tax       no                yes

Swiss Bank Hated                           

                        yes (diversified
                        choice of
                        investments can yes (depends on banks interest
                        go upto 17%      rate 2-3%)
                        depending upon
                        risk you take)
                        Insurance        Swiss Bank
                                          According to Swiss law, swiss
                                         annuities, when properly
                                         structured, your annuity cannot
                                         be attached or seized, and
                                         cannot be included in any
                         Possible        bankruptcy proceedings. Note:
                                         It is possible to initiate a
                                         bankruptcy proceeding against
                                         an investor, within one year of
                                         the annuity contract. You should
                                         plan atleast 1 year in advance.

Fixed Annuities - USD 20'000

Variable Annuities - USD 50'000

Swiss Insurance Protection laws on annuity investments

Article 80 of the Swiss Insurance act says that if a policy owner residing
outside switzerland, designates his beneficiaries to be his spouse or his

Swiss Bank Hated                             

descendents or irrevokable designates any third party, no creditors of the
policy owner can seize the insurance policy. If the policy owner has
waived his right to revoke a designation, then the insurance policy may
not be seized by the policy owner’s creditors.

The creditors of a person residing outside of Switzerland cannot seize or
include in bankruptcy proceedings of any life insurance policy, even if
they have a judgment or a bankruptcy decree from a foreign judge
enforceable in Switzerland, unless they can prove that the designation of
the beneficiaries of the insurance policy is from under fraudulent
conveyance rules.

Creditors of the policy holder, can seize the policy or include in
bankruptcy only if they are able to prove that the purchase of this policy
is from fraudulent activities or conveyance, as per swiss law. The
purchase of the swiss insurance policies and designation of beneficiares,
shall stand void, if there are sufficient proof (foreign judgement) for
fraudulent conveyance and the designation made within 1 year from the
initial transaction. Also as per swiss debt collection and bankruptcy act, if
the policy holder had purchased the policy with the full intention of
damaging creditors, with named beneficiaries are aware of this, then the
designation can be made voidable.

There are so many factors, to be considered for creditors, before they put
their feet in switzerland for seizing the policy holders assets.

1. Expensive court costs (US$ 300 per hours charged by many attorneys)

2. They must know where exactly the policy exist, with which insurance

3. Creditor must have a specific claim, based on an enforceable judgment
on a recognition of debt.

Swiss Bank Hated                           

4. The creditors must get a cantonal (concerned state) order for the
attachement, then had to file a civil proceeding in swiss civil court and
must prove in front of a swiss judge, that the policy had been purchased
under fraudulent conveyance before seizing money.

This involves too complicated procedures and proceedings.

Swiss Fixed and Variable annuities

Swiss Fixed Annuities

Fixed annuities issued by a top rated swiss insurance company, are
primarily for those who do not want to take risks on losing their deposits.
Fixed annuities, guarantee a minimum fixed rate, while holding the
capital. They qualify for tax deferral and exempt from U.S excise taxes in
case of US citizens. Fixed swiss annuity can guarantee you Technical
interest @2.5% Dividends@ Variable (approx 1.8% not guaranteed)
Exchange rate @variable.

Fixed annuities are generally termed as 'no risk' investments, best suited
for persons wanting zero risk at the time of retirement. There is a
minimum investment of USD 20'000 for the fixed annuity we charge. We
charge no upfront fee and our brokerage services for fixed annuity is free.

Swiss Variable Annuities

Quite contrary to the fixed annuities, are the variable annuities. The more
risk you take on your capital, the higher returns are guaranteed. Unlike
fixed annuities, you have the considerable freedom, to choose your
strategy portfolio of your own choice. There is no limits for the duration,
but we recommend 5 yrs as a mininum term.

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There are four types of strategies, you can choose from your variable
annuity portfolios, depending upon your level of risk.

- Fixed Strategy ( Risk Level : low)
- Conservative ( Risk Level : middle)
- Balanced (Risk Level : High)
- Dynamic (Risk Level: Very High)

As your risk level goes higher and higher, you expected returns rise in
proportion to the risk level. The more risk you take on your investment,
the more returns are expected, but not guaranteed, but you have
considerable freedom to chose your own choice of investment. Should
your investment fall in value anytime, you can easily jump to lower fixed
strategy having low risk level. Your variable annuity is always
customisable with respect to your own choice and requirement.

We recommend minimum of USD 50'000 for variable annuity. There is
no limit for your investment amount and your reference currency is Swiss
Francs (CHF)

For US investors, the variable annuities meets IRS code of tax deferral.
Under Section 1035 of the Internal Revenue Code, a contract issued by a
domestic or foreign insurance company can be exchanged on a tax-free
basis for one issued by a foreign insurance company. Form 1035 is used
for this purpose. If you choose to your cash values before 59 1/2 of age,
IRS may charge you 10% penalty. During your phase of retirement,
should your strategies are subjected to risks, you can jump from dynamic
to fixed strategy to reduce risk. Should your chosen currency goes down
in value, your portfolio has other currencies to compensate this

Most frequently asked questions about swiss annuities (80 questions)

[Source : MTB International, Zurich, Switzerland]

Swiss Bank Hated                             

We recommend to carefully read and understand this section and your
patience would be appreciated very much.

1. What does a Swiss annuity offer?

A Swiss annuity is an innovative, currencyconvertible contract designed
to fit the global
diversification needs of today’s investor. The core of this investment is a
single premium annuity that guarantees a fixed rate of interest over the
coming years, plus profit-sharing dividends. It therefore belongs in your
fixed-income portfolio. But for savers, it also provides excellent capital
growth opportunities.

2. How does a Swiss annuity work?

Your investment is placed with one of Switzerland’s premier insurance
companies for a
given term (also referred to as the accumulation period or period of
deferment). Your principal earns interest and dividends until you redeem
your annuity in a lump sum or start drawing an income (annultizing).
After income payments have begun, the unpaid balance ofyour capital
still collects interest and dividend earnings that are paid out with your life

3. What are the upfront charges?

There are no upfront fees or charges on your investment. All your
invested capital will
immediately begin to accumulate earnings.

4. Is there a minimum investment required?

Yes. To purchase a Swiss annuity investment you will need at least
US$20,000 or equivalent in another currency to start.

5. Can I Increase my investment at a later date?

Swiss Bank Hated                            

Certainly. You may increase your investment whenever you wish. After
sending additional
funds (minimum US$10,000 or the equivalent) to the insurance company,
they will automatically issue you a supplementary annuity certificate.
Technically, this means you purchase a new certificate in the currency of
your existing certificate or, if you so choose, in another currency. To
simplify this procedure, you will receive a Policy Kit. In addition to your
original policy, your kit includes Increase Option Certificates. Whenever
you wish to increase your investment, you Just complete and return the
increase-option forms. Many clients use this procedure to regularly
increase their Swiss annuity investment.

6. How liquid is my Investment?

It is 100% liquid after the first year. You can then withdraw any or all of
your money Including interest and profit-sharing dividends. If you need
to redeem your certificate within the first 12 months, you will be charged
a handling fee of 500 Swiss francs and you forfeit any first-year interest
and dividend earnings.

7. When does my Investment mature?

You determine the duration of your contract at the time of purchase, but
you are free to change it at any time during the contract term. That is, you
may extend or shorten your chosen term (effective on the next
anniversary date of your certificate) or withdraw the cash value of your
investment at any time. This flexibility ensures that your investment
matures when you need either the funds or the income.

8. Can I make other changes to my certficate at later date?

Of course. You can make changes to your certificate at your discretion as
It relates to, for
example, currency denominations, beneficiary clauses, and payment
instructions. The only
exceptions are the Person Insured and of course, an irrevocable

Swiss Bank Hated                            

Beneficiary. These may not be changed at a later date. No special forms
are required, simply send your instructions in writing.

9. Who should Invest in a Swiss annuity?

A Swiss annuity certificate provides such safety and flexibility that It
makes good sense for
almost everyone at almost any age.

10. How does a Swiss annuity minto my portfolio?

A Swiss annuity is a savings plan, i.e., a basic block for accumulating
wealth and also a pension fund providing a guaranteed income for a
specified period or for life. In addition, you can benefit from geographic
and currency diversification as well as the asset protection features of a
Swiss insurance policy.

11. How much can i invest In a Swiss annuity?

There is no upper limit.

12. What about Swiss taxes?

Your earnings are never taxed. They accumulate tax-free and at maturity,
are not subject to the 35% Swiss withholding tax unlike traditional Swiss
bank accounts. As a non-resident of Switzerland, you are not liable for
any Swiss taxes.

13. What are the earnings from a Swiss annuity?

All Swiss annuities earn guaranteed interest (a technical interest rate) of
3.25% on the capital, plus profit-sharing dividends. While the technical
interest rate is guaranteed.(it may only be adjusted for new policies), the
annual dividends depend on the general level of interest rates in
Switzerland and on the insurance company’s investment performance.

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The dividends are adjusted to market interest rates annually and are,
therefore, not guaranteed for the future.

14. What exactly is the “technical Interest rate”?

The technical interest rate is the guaranteed interest rate that Is credited to
the investment
portion ofyour annuity certificate. The investment portion is your
payment less internal
contract charges. According to the rulings of the Swiss Insurance
Association, insurers are entitled to deduct an amount for administration
charges and an individual premium of mortality. The interest rate earned
is slightly reduced by these charges.

15. What type of total return can I expect?

Interest earnings are supplemented annually by profit-sharing dividends,
thus ensuring your
annuity certificate earns competitive market rates. For Swiss franc
annuities, these are
approximately the same rate as Swiss government bonds. Historically the
dividend rate paid out on Swiss franc annuities has been 1%-1.5%, thus
resulting in an overall gross yield of 4%-4.5%. In addition, total returns
for your annuity will be boosted with the right choice of currency. Due to
the long term strength
of the Swiss franc, Investors have made substantial exchange rate gains
with Swiss franc
investments. Since the collapse of the “Bretton Woods” system offixed
exchange rates, the
Swiss franc has appreciated not only against the dollar but in relation to
the other major
currencies. In the last 25 years, the exchange value of the franc increased
from $0.26 to $0.81 (annual averages), or an appreciation of 212%. This
represents an annual compound growth rate of 5%.

Swiss Bank Hated                           

16. How soon does my Investment start earning Interest?

Your annuity certificate starts earning interest the day your premium
payment has been
credited to the insurance company’s account.

17. Are profit-sharing dividends paid out or reinvested?

During the accumulation phase, dividends are automatically credited to
the annuity principal. During the Income payment period, they are paid
out together with the guaranteed income.

18. How do returns compare with other investments?

A Swiss annuity compares very favorably when you look at the net return
on other investments (i.e., return after deducting fees, commissions,
annual management charges, withholding taxes and income taxes).
Remember, with a Swiss annuity there are no upfront charges or
withholding taxes on your annuity investment.
The advantages are even more compelling if you factor in the safety
(your capital and income are guaranteed), liquidity and privacy of your

19. In which currencies is a Swiss annuity offered?

Recognizing the international investor’s interest in broad currency
diversification, a Swiss annuity is offered in Swiss francs, EUR, US
dollars, pounds sterling.

20. Can I switch between currencies?

Yes. With a Swiss annuity’s currency-convertible feature, you always
have the option to switch currencies whenever you desire. Although a
Swiss annuity is not designed as a short-term currency trading
Instrument, it does allow you to hedge your currency investment or to
further diversify your currency positions.

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21. Is there any charge for switching currencies?

Yes. A handling fee of 300 SwIss francs will be charged per switch and
per certificate.

22. Can I invest in more than one currency simultaneously?

Yes. You would then receive a separate certificate for each currency
investment. For a 50/50 Swiss franc and US dollar investment, for
example, you receive two certificates, one in Swiss francs and another
with the equivalent In dollars. (Minimum investment per currency:
US$20,000 or equivalent.)

23. Why can't i choose the currency that offers the highest interest

Not necessarily. In the long run, the development of exchange rates could
be a more decisive factor than interest rates. Such factors as inflation
rates, savings rates, fiscal balances, current account balances and
economic growth greatly affect the value of a currency in the long run. A
Swiss franc investment with a return of say, 4%,
could turn out to be substantially better than an ECU one at 8%.

24. What currency should I choose then?

Obviously It makes sense to choose a currency that provides consistently
good growth in
comparison to other currencies. The Swiss franc has been stronger than
any other currency in the world over the past 25 years.

25. When should I convert my home currency into Swiss francs?

As with any investment, you should buy when prices are low. That is, use
any temporary period of weakness in the Swiss franc to convert your
money. If you prefer not to try to time the markets, buy a series of
equally-valued certificates in your currency and convert them into Swiss

Swiss Bank Hated                            

francs at regular Intervals. In volatile markets, cost-averaging ensures
that you won’t pay peak prices.

26. How soon can I expect to see currency appreciation?

With a long holding period, the long-term trends are what counts. It is
next to impossible to pinpoint the exact week or month your investment
currency will take off relative to other currencies.

27. What about inflation?

Inflation reduces your return on investment because the proceeds buy
fewer goods than in
previous periods. Since Inflation affects a currency’s strength vis-~-vis
other currencies,
investing in low-inflation currencies Is one way offset the loss of an
Investment’s purchasing power.

28. What about the Swiss franc’s purchasing power?

Over the last 25 years, the Swiss franc’s appreciation would have offset
more than 70%
the loss through inflation in the US dollars buying power. The same
general trend Is true
with respect to other major currencies; the Swiss franc retained its
purchasing power best of all. With,Switzerland’s continuing low inflation
rates (close to 1% annually), the Swiss franc will most likely maintain its
strong position against the dollar as well as other currencies.

29. Does the Insurance company Invest the different currencies
(offered by a Swiss annuity) separately?

Yes. The different currencies offered by a Swiss annuity are invested and
held separately. For example, for Swiss francs, the purchases for Swiss
franc denominated annuity includes Swiss real estate, government bonds
and other firstclass

Swiss Bank Hated                            

Swiss investments. Similarly, US dollar denominated investments are
purchased for US
dollar annuities.

30. When converting from my home currency or switchIng between
currencies, how is the exchange rate set?

Foreign exchange rates published In newspapers are on “round lot” of
US$5 million traded among banks. These interbank rates are only
“lndicators~ of what an individual investor might expect. Your deposits
are always converted to the selected currency according to the prevailing
exchange rate at the Swiss bank handling your payment.

31. Can I have my own bank convert my home currency into the
Investment currency(ies)?

Yes. Your home bank can convert your home currency and make a Swiss
franc or other
currency transfer to Switzerland. However,experience has shown that this
method is more
costly (because of fees and less attractive exchange rates) than if you
send your home currency funds directly to the insurance company and
have them execute the currency exchange for you.

32. If I request a switch In currencies, how quickly this done?

Currency conversion is executed within five banking days upon the
insurance company’s
receipt of your written request for conversion.

33. Why should I invest abroad when there are plenty of interesting
investments In my own country?

If you only have your money in domestic company stocks or mutual
funds, your portfolio
will invariably suffer heavy losses if your local stock market takes a

Swiss Bank Hated                           

plunge. So you need to diversify into other asset categories, such as
bonds or precious metals. Similarly, investing outside your own country
is an important way reduce the risk of a collapse in asset markets your
country. The Nobel Prize-winning Modern Portfolio Theory has proven
that you can increase your overall return and reduce risk through

34. How much of my assets should I place in overseas investments?

There are no hard and fast rules for the amount you should invest abroad.
While some experts suggest as much as 40% of your portfolio, a lot
depends on your individual situation, such as when you need the funds or
income from your
investments, your tolerance for risk, and how view the prospects of
foreign economies. For some individuals seeking asset protection
possibilities, the percentage may be larger for “safe-in-any-case” nest

35. How can I be sure that Switzerland is the right country to send
my money to?

Switzerland has earned its reputation as the world’s foremost safe haven
through over 700
years of democratic government, the country’s vowed political neutrality
and respect for financial privacy.

36. How does Switzerland compare with other countries?

Switzerland has been consistently rated No.1 for political, financial and
economic stability by the International Country Risk Guide.

37. As an overseas investor, how complicated to invest In

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It’s at least as easy as opening a bank account in your own country, since
you need not even leave home. You just need a pen and fill up few forms.
Its that simple.

38. Do you have any particular advice for those new to international

When taking the important first step abroad, safety should be your top
priority. Invest in the safest investments and with secure institutions only.

39. Why are Swiss annuities a “better deal” than the traditional
Swiss bank account?

Basically, Swiss annuities provide the international investor with
approximately the
same yield as Swiss government bonds yet are not subject to the 35%
Swiss withholding tax on interest income charged to traditional Swiss
bank accounts. For US based investors, Swiss annuities are not reportable
as a foreign financial account
to the Internal revenue Service (IRS). Interest is guaranteed, and all
interest and dividend
earnings accumulate tax-deferred. In addition, Swiss annuity certificates
can provide you with asset protection possibilities in a simple and
inexpensive way.

40. Is a Swiss annuity judgment-proof?

According to Swiss law, insurance policies - including Swiss annuities -
when properly
structured, are not attachable and cannot be included in any bankruptcy
proceedings or be
seized by creditors. This applies even if a judgment or court order
specifically orders the
seizure of your annuity or Its inclusion in the estate in bankruptcy
settlement. Please refer to the legal opinion for a more in-depth analysis
of judgments and bankruptcies.

Swiss Bank Hated                           

41. How do I make payment when I invest?

You can either send a personal check or cashier’s check, made payable to
the insurance company, or have your funds wired directly to the
insurance company’s bank account.

42. What documents must I send with my application?

Proof of the birth date of the person insured by Including a copy of either
a birth certificate, passport, drivers license, or other official document.

43. Is there any age limits when purchasing a Swiss annuity?

Swiss annuity certificates can legally be issued to age 85. When the
owner of a policy reaches age 85, that policy owner must decide whether
to redeem his or her investment or to take a life come.

44. Can a Swiss annuity be held jointly?

Yes it can.

45. How many different parties can be Involved?

The purchase of an annuity certificate may Involve five different parties:
The person,
company or other legal entity who pays for the investment (premium
payer). The person,
company or other legal entity who owns the certificate (applicant or
policy holder). The
person on whose life the figures are calculated (person Insured). The
person, company, or other legal entity who would receive the certificate
value in case of death of the person insured (beneficiary). The person,
company, or other legal entity who Is to receive any lump-sum
settlements or life income at the end of the scheduled accumulation

46. Why do I need to state investment duration?

Swiss Bank Hated                           

According to Swiss insurance regulations, insurance companies must
state in writing the
exact amounts they guarantee. To calculate these amounts, the
investment duration is
required. You can later shorten or lengthen this period.

47. What procedure do I follow to redeem my Swiss annuity

To redeem your certificate, first return the original policy along with a
letter to the insurance company. They will then send you a cash value
statement of your policy. Sign and return this statement. After receiving
the signed statement, the insurance company will proceed to make the
payments as per your instructions. You may pickup the funds in cash at
the Insurance company’s headquarters, or request a check or a bank
transfer to a designated bank account.

48. How iong does this procedure take?

The entire procedure takes approximately four weeks. The redemption
process can be
accelerated by about 10 days if you authorize your Swiss representative
to sign and return the cash-value statement on your behalf.

49. What happens at the end of the accumulation period?

If you do not choose to extend the term, you have two options at the end
of the accumulation period; you may get back the full certificate value
including all accumulated interest and dividends, or choose to receive an
income for either a specified period or for as long as you live.

50. How are annuity payments scheduled?

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Annuity payments are available quarterly, semiannually, and annually.
You can choose how you want the annuity payouts, e.g., by check to you
or directly to a bank account anywhere In the world.

51. Can I borrow against my annuity?

Your Swiss annuity has an account value (cash value) that is at your
disposal at any time. You can also use this value as collateral for a loan
from the insurance company. There are some tax consequences and they
should be considered when borrowing against your annuity.

52. What Interest rate is applicable to such a loan?

Market rates apply (roughly the rate on Swiss government bonds plus
1.5% to 2%). However, your annuity certificate continues to earn interest
and dividends on the full (pre-loan) investment amount.

53. Once I choose to receive a life income, is there any charge for
having my annuity payments transferred abroad?

Any standard banking expenses e.g., transfer costs or costs for issuing a
check, will be debited from your account.

54. What does it cost me when I take my money out of a Swiss

Nothing. There are no redemption fees when you cash in your Swiss
annuity investment after the first year.

55. Are there any annual management fees?

The cost factors on an insurance or annuity investment indude a “term-
insurance premium”, administration and placement costs and a small
interest margin for the insurance company. In traditional insurance
products, the bulk of these expenses are charged upfront. For Swiss
annuities, these costs are spread over many years, thus giving the investor
a much better initial investment base. However, the guarantee interest of

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3.25% is reduced by administrative and other costs, resulting in a slightly
smaller net amount paid.

56. Can any future charges be implemented once I’ve made my
Initial Investment?

Only if you dedde to switch the currency denomination of your
certificate. Then the Sfr
300 handling fee is charged to your certificate.

57. Can I make partial withdrawals on my certificate?

Yes. But, here’s a tip to reduce paperwork and save time later. If you
already know that you will be making partial withdrawals in the future,
then purchase a series of certificates in the investments you will need,
rather than putting it all in a single certificate. You will then be adding
flexibility to your investment. It will be easier to switch to different
currencies later or you can receive an annuity income on part, but not all,
of your investment.

58. What happens upon my death?

If, as in most cases, you are both the Person Insured and the Owner of the
certificate, the
certificate value is paid in a lump sum to the beneficiary(ies) you have

59. What If I am the Owner of the certificate but not the Person

Unless you have specifically designated another Owner in writing to the
insurance company, the ownership of the certificate is paid to your legal
or designated heirs according to your last will and testament.

60. Can a legal entity be the Owner of the certIficate?

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Yes. Any legal entity such as a trust, corporation, pension plan,
foundation or establishment can be the Owner as well as the Beneficiary
of the annuity certificate. Refer to the legal opinion for an analysis of
trust and corporation annuity ownership.

61. In the application for an annuity certificate, what does it mean to
be the beneficial owner?

As both owner and beneficial owner, you are not acting on behalf of
another person to invest his or her funds. In case you are doing so, by
law, insurance companies and banks are required to ask you who the
beneficial owner Is.

62. Does my choice of owner affect the value of my Investment?

No. Whether the owner of the certificate is a person or legal entity
(pension plan, trust,
corporation, etc.), the certificate value remains the same.

63. Does my choice of the person Insured affect the value of my

It depends. The investment’s value remains virtually identical during the
accumulation period. If you choose to annuitize, however, the annual
income that is then paid for life will obviously vary according to the age
ofthe person insured (because of different life expectancies).

64. Am I protected against future exchange controls?

Although exchange controls have existed in various countries and may be
reintroduced one day for people who hold overseas bank accounts, these
have never been applied to foreign annuities. It seems unlikely that a
country would force repatriation of foreign annuities in the future.

65. What happens If I move to another country?

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Your Swiss annuity certificate remains valid regardless of where you

66. How private is my investment?

Swiss law forbids the disclosure of assets held by an individual in a
Swiss bank or insurance company to any person or government authority.

67. What should I do If I lose my Swiss annuity certificate?

If the policy becomes lost, mislaid or stolen, notify the insurance
company immediately in
writing. They will then issue a “Declaration of Loss”, which requires
your signature. This
declaration replaces your original policy. If your original policy turns up,
you should advise the insurance company again in writing.

68. Can the guaranteed rate of interest ever be changed?

No. It can’t. You are assured to receive the guaranteed interest rate for
the life of your
annuity certificate.

69. Can I have the Life income payments from my annuity certificate
paid into a bank account outslde my home country?

Yes. You can. Simply send your instructions in writing to the insurance

70. Can I find out the value of my certificate whenever I need to?

Yes. You can request information about your certificate’s value anytime.

71. When do I receive my account statements?

You will receive your first statement, including all interest and profit-
sharing dividends earned, on the first anniversary of your certificate.

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Thereafter, you will receive a full account statement at the end of the year
and on the anniversary date.

72. How closely do I need to monitor my investment?

Since you are guaranteed a certain rate of growth in terms of the currency
you have chosen and will additionally receive profit-sharing dividends,
the value of your investment in that currency does not fluctuate as with
stocks, bonds, etc. But the currency in which your Swiss annuity
certificate is denominated will rise or fall against your home currency. So
your choice of investment currency matters, particularly in the long run.

73. Who stands behind my Swiss annuity?

The insurance carriers recommended have consistently maintained
careful control over their balance sheets and are in impeccable financial
condition. They represent some of Switzerland’s oldest and biggest life
insurance companies, stable and long-term oriented.

74. How can I be sure my Investment is safe?

In the more than 140-year history of the Swiss insurance industry, there
has never been a single failure of a Swiss insurance company. Policy
holders in Switzerland enjoy a level of security and protection greater
than in any other country.

75. Is an Independent general rating of Swiss Insurance companies

No. Swiss insurance companies are not analyzed by the well known
rating companies. In any event, only five insurance companies have
special policies for the international investor, and all of these are either
old, established blue-chip companies or are owned by one.

76. Are Swiss insurance companies regulated?

Swiss Bank Hated                             

No. The absence of ratings is more than compensated by the industry’s
long history of finandal stability, the result of stringent insurance laws
and rigorous supervision of the policies and activities of insurance
companies by the Federal Office of Private Insurance. Federal regulators
require that life companies fully cover their obligations with secure
investments and sufficient cash flow.


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