Corporate Bank Account Opening

Steps to Open a Corporate Bank Account in Switzerland

1. Choose the Right Bank

The first step in opening a corporate bank account is selecting a bank. Switzerland offers a range of options, from large international banks like UBS and Credit Suisse to smaller regional banks. Consider the services, fees, and customer support provided by the bank before making a decision.

2. Prepare the Required Documents

Swiss banks require a set of documents to verify the identity and legitimacy of the business. These typically include:

• Company Registration Certificate: Proof that your company is legally registered with the Swiss Commercial Register.
• Proof of Identity: Passports or identification cards of company directors and beneficial owners.
• Company Statutes: A document outlining the purpose and structure of the business.
• Proof of Business Address: A valid Swiss address for the business.
• Financial Documents: Recent financial statements, business plan, or projections.

3. Proof of Company Activities

Banks often require proof of the company’s activities, particularly for foreign businesses. This can include contracts, invoices, or agreements that demonstrate the business’s operations and its financial flows.

4. Deposit Minimum Capital

For certain types of businesses, such as a Limited Liability Company (SARL) or Public Limited Company (SA), a minimum capital deposit is required. For example, an LLC in Switzerland requires a minimum capital of CHF 20,000, with CHF 1 paid up initially.

5. Complete the Bank’s KYC (Know Your Customer) Process

Switzerland adheres to strict anti-money laundering regulations, so banks conduct a comprehensive KYC process. The bank will verify the identities of the company’s directors and beneficial owners, as well as assess the company’s business activities.

6. Submit Application and Wait for Approval

Once all the necessary documents are submitted, the bank will review the application. This process can take from a few days to several weeks, depending on the bank’s internal procedures and the complexity of the business.

7. Activate the Account

Upon approval, the corporate bank account will be activated. The bank will provide access details, including online banking credentials. It’s important to ensure that the account is set up correctly to handle day-to-day transactions and meet regulatory requirements.

Benefits of a Swiss Corporate Bank Account

1. Financial Stability and Security

Swiss banks are known for their financial stability, providing a secure environment for business transactions. Switzerland’s strong regulatory framework ensures high levels of protection for business assets and deposits.

2. Global Payment Solutions

Swiss banks offer a range of international banking services, including multi-currency accounts and payment solutions that facilitate cross-border transactions.

3. Access to Wealth Management Services

Swiss banks provide businesses with access to specialized wealth management services, including financial planning, investment advisory, and tax optimization strategies.

4. Easy Integration with Swiss Economy

Opening a corporate bank account in Switzerland enables businesses to easily integrate into the Swiss economy, making it easier to conduct transactions with local suppliers, customers, and partners.