Open a Non-Resident Bank Account with Expert Guidance

BMA Business Solutions—Your Gateway to Banking in Switzerland, Singapore, UAE, Monaco, and Liechtenstein

Are you a non-resident seeking a bank account in top financial hubs like Switzerland, Singapore, UAE, Monaco, or Liechtenstein? BMA Business Solutions is here to simplify the process, guiding you through the complexities of international banking as your trusted partner.

An image displaying the various services offered by BMA Business Solutions, categorized for high-net-worth individuals (HMWI), corporations, electronic money institutions (EMI), and regional banks.

Expert-Led Banking Solutions for Non-Residents in Switzerland and other countries

Looking to open a non-resident bank account in Switzerland? At BMA Business Solutions, we specialize in seamless, efficient banking solutions tailored for high-net-worth individuals (HNWIs) and international corporations. With our extensive network and profound knowledge of the Swiss financial landscape, we provide the exclusive access and support you need for a smooth banking experience.

Tailored Banking Solutions for High-Net-Worth Clients

Specialized Services for High-Net-Worth Clients: We understand the unique challenges that come with managing significant assets. Our team is dedicated to tailoring your banking experience to suit your individual goals and financial needs, ensuring an optimized, efficient approach.
Efficient Commercial Banking for International Businesses: Expanding your business globally? We make it easy for non-resident companies to open bank accounts in Switzerland. Our streamlined processes facilitate international payments, opening doors to new business opportunities and efficient cross-border transactions.
Clear and Transparent Communication: At BMA Business Solutions, transparency is at the core of our service. You can count on clear, honest communication and regular updates at every stage of your banking journey with us.

Global Banking, Personalized Solutions

Why Choose Us?

With deep roots in Swiss wealth management, we offer the expertise you need to navigate the complexities of international banking with ease. Our local connections and extensive knowledge across top financial hubs—such as Switzerland, Singapore, UAE, Monaco, and Liechtenstein—make us an ideal partner to help you open a non-resident bank account in Switzerland or beyond. We take time to understand your unique needs and financial goals, then match you with the jurisdiction and banking solutions that suit you best.

Your Success is Our Priority

Whether you’re a high-net-worth individual or a corporation looking to expand globally, we’re committed to enhancing your international banking experience. Let’s discuss your financial objectives and explore the most suitable jurisdiction for your needs. Reach out today for a personalized consultation.

Let’s discuss your financial goals and explore the best jurisdiction for your needs. Contact us for a consultation.

Popular Jurisdictions for Non-Resident Bank Accounts: Where We Can Guide You

Switzerland: A classic choice for its financial stability, strict banking privacy, and strong Swiss Franc.
Liechtenstein: Offers high confidentiality, robust asset protection, and a well-regulated banking sector.
Monaco: Attracts high-net-worth individuals with its tax-friendly policies, luxurious lifestyle, and secure banking.
Dubai: A growing financial center with tax advantages, modern infrastructure, and a focus on innovation.

While policies vary between banks, here’s a general overview of typical minimum account sizes for non-resident accounts in these popular jurisdictions:

Country	Minimum Account	USD %	Euro %
Switzerland	$ 500,000	5.25%	3.5%
Singapore	$ 2,000,000	5.5%	2.5%
Monaco	$ 3,000,000	5.5%	3%
Liechtenstein	$ 500,000	5.75%	2.85%

Minimum account size and average interest rates for one-year deposits for non-resident individuals in selected countries as 1.01.2024

Contact us to determine the best jurisdiction for your non-resident banking needs.

Your Path to Open a Non-Resident Bank Account: How We Work

Personalized Planning: Our process begins with a detailed consultation to understand your financial goals, preferred banking jurisdictions, and any unique requirements. This step helps us tailor our approach to align with your objectives, ensuring you receive a customized solution.
Prepayment: To provide dedicated support, we ask for a 10% prepayment, which ensures your case receives priority and allows us to conduct in-depth research tailored to your needs. Please note that due to the bespoke nature of our services, this prepayment is non-refundable.
Streamlined Documentation: Our team will guide you step-by-step in gathering essential documents, such as proof of identity, source of funds, and residency verification. We simplify this process, so you know exactly what’s needed to open your non-resident bank account in Switzerland and other countries.
Expert Bank Selection: Based on your goals, we carefully select the banks most suited to your needs. Our recommendations prioritize your unique preferences, helping you find the best fit among banks that offer non-resident accounts.
Application and Ongoing Support: We assist you with all application forms and manage communication with the chosen bank. Throughout the due diligence process, we provide continuous support to ensure a smooth and successful experience.
Timeline: The process to open a non-resident bank account typically takes several weeks. Our team will keep you updated on progress and timelines, ensuring you’re informed at every step.

A flowchart illustrating the steps involved in opening a non-resident bank account in Switzerland.

Benefits of Working with Us

Tailored Strategy: Receive personalized solutions aligned with your specific financial needs.
Time Savings: Our expertise and efficiency minimize hassle and maximize your time.
Experience and Connections: Benefit from our Swiss wealth management roots and network of reputable international banks.

Ready to unlock global financial opportunities for non-resident clients? Contact us to start your journey.

Costs of Opening a Non-Resident Bank Account with BMA Business Solutions

Opening a non-resident bank account with BMA Business Solutions comes with costs that vary depending on your financial profile, chosen jurisdiction, and the complexity of your application. If you’re a citizen from a reputable European country with a transparent and well-documented financial background, the process is often straightforward. However, clients in high-risk jurisdictions or with complex business structures may experience additional challenges and potentially higher fees.

To help you prepare for your banking journey, here’s a breakdown of our fee structure:

Private Bank Accounts for Individual Clients (Deposits up to CHF 5 Million):
- Consultation and Preparation Fee: Ranges from CHF 500 to CHF 2,000. This fee covers our initial consultation, Know Your Client (KYC) preparation, preliminary checks, and tailored banking advice.
Additional Considerations:
- In some cases, more extensive due diligence may be required, especially if:
  - Your country has a Corruption Perception Index (CPI) score below 50.
  - You currently hold or previously held a significant government position.
  - You have served in a senior leadership role at a major international organization or a large global company.
- For such cases, the introductory fee may increase to a maximum of CHF 10,000. We always keep you informed about any potential adjustments before proceeding.
Account Opening for High-Net-Worth Individuals (HNWI) with Deposits Over CHF 5 Million:
- Standard Pricing: Starting from CHF 0. In straightforward cases, this service may be provided at no additional charge.

These costs reflect the expertise and resources needed to navigate diverse international regulations, ensuring smooth and compliant account openings. BMA Business Solutions tailors its services to meet the unique needs of each client, especially high-net-worth individuals, to deliver a personalized approach to international banking.

Note: A current bank statement is required to demonstrate sufficient funds for deposit.

Opening a Commercial Bank Account for Non-Resident Companies

Can Startups Still Open Corporate Bank Accounts in Switzerland and Europe?

In today’s landscape, opening a corporate bank account is far from the easy task it once was. Over the past decade, increased regulations have made this process more complex and time-intensive, with even minor errors or delays posing risks to the long-term relationship between businesses and banks.

The current global environment—shaped by stringent sanctions and anti-money laundering regulations—has made banks especially cautious. For startups, these challenges are even greater, as they are often viewed as higher-risk clients due to their limited financial history. Banks now enforce rigorous compliance checks to avoid costly fines and reputational risks, yet this heightened vigilance often creates substantial barriers for new businesses trying to establish accounts.

This is where BMA Business Solutions can help. As an independent advisory firm, we specialize in guiding businesses through these complexities. Our team of experts—bringing years of experience from major financial institutions and audit firms—ensures that you receive the insights and support needed to open and manage your accounts successfully, despite the strict regulatory landscape.

We simplify the corporate account opening process across Switzerland, handling the due diligence banks demand. Let us manage your account, so you can manage your startup.

Commercial Bank Account Opening Fee

Standard Fee: CHF 5,000 (Covers basic requirements and standard procedures for commercial account setup)
Complex Cases: Fees may be higher for companies with intricate structures, high-volume transactions, or operations in heavily regulated industries. We provide personalized quotes based on your specific circumstances.

Explanation: Our fees reflect the specialized services required for commercial accounts, including compliance navigation and support for complex financial transactions.

Correspondent Banking for Regional Banks and EMIs

BMA Business Solutions supports regional banks and Electronic Money Institutions (EMIs) across Central Asia, Eastern Europe, the Middle East, and Latin America as they navigate the global financial landscape. We specialize in establishing correspondent banking relationships that enable smooth cross-border payments, currency exchange, and regulatory compliance within complex financial environments.

Our Approach

Partnerships with Global Banks: We connect you with leading banks, enhancing your capacity for international payments and fostering more reliable financial networks.
Tailored Solutions: Recognizing the unique challenges of fragmented banking systems, we develop customized strategies to improve cross-border payment efficiency.
Regulatory Expertise: Our team guides you through foreign exchange and compliance requirements, helping you ensure seamless, compliant international transactions.

Key Benefits

Partnering with BMA Business Solutions gives regional banks and EMIs a competitive edge in the global market. With our support, you’ll gain access to streamlined international transaction processes and unlock new opportunities for growth.

Frequently Asked Questions (FAQs)

What are the specific eligibility requirements to open a non-resident bank account?

While eligibility criteria can vary between banks and jurisdictions, here are the general requirements you’ll likely encounter:
Age: You must be at least 18 years old.
Source of Wealth: You’ll need to provide clear documentation proving the legitimate origin of your funds. This helps banks comply with anti-money laundering regulations.
Sanctions Compliance: You cannot be on any sanctions lists or be a citizen of a sanctioned country. Banks have strict obligations to screen clients against these lists.
Other Factors: Some banks may have additional requirements based on your residency, nationality, or the type of account you wish to open.
Important: BMA Business Solutions specializes in navigating the complexities of non-resident banking. We can advise you on the specific eligibility requirements for your chosen bank and jurisdiction, ensuring a seamless application process.

What are the typical fees associated with non-resident bank accounts?

The fees for non-resident bank accounts can vary depending on the bank, jurisdiction, and your specific circumstances. Here’s a breakdown of the common types of fees you might encounter:
Account Opening Fee: Some banks charge an initial fee to set up your account. However, many banks, particularly for individual accounts, may waive this fee.
Account Maintenance Fee: This is a recurring fee, often charged annually, to cover the bank’s administrative costs of maintaining your account. Expect this fee to range from approximately 200 CHF to 3000 CHF per year.
Account Administration Fee: Certain banks may charge an administration fee, which can vary depending on your country of residence. This fee can range from 0 to 2000 CHF per year.

What are the tax implications of having a non-resident bank account?

The tax implications of a non-resident bank account depend heavily on your tax residency and the specific laws of your home country. Here are the key points to understand:
Tax Residency: Generally, you are obligated to report your worldwide income and potentially pay taxes in your country of tax residence, regardless of where your bank accounts are held.
Withholding Taxes: Some countries, like Switzerland, may impose a withholding tax on interest income earned in your account. This tax can be partially or fully reclaimed depending on tax treaties between your home country and Switzerland.
Dividends: Tax treatment of dividends from shares often depends on Double Taxation Agreements (DTAs) between the issuing company’s country and your tax residency. However, dividends from US stocks may not be covered by standard treaties, potentially leading to a complex tax return process.
Important: The tax implications of non-resident banking can be complex. It’s crucial to consult a qualified tax advisor in your home country to ensure you understand your reporting obligations and potential tax liabilities.

BMA Business Solutions can connect you with tax specialists to ensure compliance and maximize the benefits of your non-resident account.

How does BMA Business Solutions ensure compliance with international banking regulations?

We maintain a rigorous approach to compliance, ensuring that all documentation and processes adhere to international standards.

Are there additional services available after the account is opened?

Absolutely. We offer ongoing support and advisory services to help you manage and optimize your international banking arrangements.