Open a Non-Resident Bank Account in Switzerland, Singapore, UAE, Monaco, Liechtenstein

Personal and business banking made simple: We manage the process, you focus on growth

If you’ve faced difficulties opening a non-resident bank account abroad, BMA Business Solutions can assist. We specialize in navigating the unique challenges of non-resident banking and provide expert guidance to help you find the right financial solutions. Our streamlined process ensures you can easily open a non-resident account in reputable jurisdictions, making the experience smooth and efficient.

Expert-Led International Banking Solutions

What We Offer

At BMA Business Solutions, a Swiss consulting firm founded by wealth management experts, we offer exclusive access to premium banking solutions tailored for high-net-worth individuals (HNWIs) and international corporations. Our expertise and connections ensure that you receive the highest level of financial services and support.

Our Services

  • High-Net-Worth Specialization: We cater to the complex financial needs of individuals and businesses with at least $500,000 in assets. Let our expertise and personalized services optimize your non-resident banking experience.
  • Streamlined Commercial Banking: Expanding your business globally? We’ll guide you through opening a foreign bank account for your non-resident company, simplifying international payments and unlocking new opportunities.
  • Commitment to Transparency: Expect clear communication and regular updates throughout your journey. We believe in open dialogue to address any questions or concerns you may have.

Global Banking, Personalized Solutions

Why Choose Us?

With our Swiss wealth management heritage, we are the perfect partner for navigating international banking. Our strong local connections and deep expertise in these jurisdictions allow us to streamline the account opening process, helping you fully optimize your global banking experience.

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:

CountryMinimum AccountUSD %Euro %
Switzerland$ 500,0005.25%3.5%
Singapore$ 2,000,0005.5%2.5%
Monaco$ 3,000,0005.5%3%
Liechtenstein$ 500,0005.75%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

  1. Personalized Planning: Our journey begins with a comprehensive consultation to understand your financial goals, preferred jurisdictions, and any unique requirements that you may have.
  2. Prepayment: To ensure you receive our dedicated support, we ask for a 10% prepayment. This upfront payment helps us give your case the priority it deserves, allows us to do comprehensive research, and ensures you receive the best advice possible. Please understand that due to the custom nature of our services, this prepayment is non-refundable.
  3. Streamlined Documentation: Our team will guide you step-by-step through gathering the necessary documentation. This may include proof of identity, source of funds, and residency documents.
  4. Expert Bank Selection: We’ll carefully analyze your needs and objectives to recommend the most suitable banks offering non-resident accounts. Our recommendations consider your priorities and preferences for the best possible fit.
  5. Application and Ongoing Support: We’ll assist with completing all application forms thoroughly and proactively manage communication with the chosen bank. We’ll stay by your side throughout the due diligence process to ensure a smooth and successful experience.
  6. Timeline: The process of opening a non-resident bank account typically takes several weeks. Our team will keep you informed of the progress and timelines throughout.

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 involves various costs, which depend on factors like your financial profile, the chosen jurisdiction, and the complexity of your application. For citizens of reputable European countries with a clear and well-documented history of wealth, the account opening process might be straightforward. However, for clients living in high-risk jurisdictions or running complex businesses, the process can be much more challenging and potentially costly.

To help you plan your non-resident banking journey, here’s a clear breakdown of our fee structure.

Private Bank Accounts for Individual Clients (Deposits up to CHF 5 Million)

Our introduction and consultation fee from CHF 500 to CHF 2,000. This includes:

  • Know Your Client (KYC) Preparation: We’ll guide you through the KYC process, ensuring all documentation is completed accurately and efficiently.
  • Preliminary Checks: We’ll conduct preliminary checks to ensure a smooth account opening process.
  • Tailored Banking Advice: We’ll discuss your financial goals and recommend the most suitable bank and jurisdiction for your needs.

Additional Considerations

In some instances, additional due diligence might be required. This may apply if:

  • Your country of residence has a Corruption Perception Index (CPI) score below 50. (Lower scores indicate higher perceived corruption risk.)
  • You currently hold, or have previously held, a significant government position.
  • You’ve held a senior leadership role at a major international organization or a large global company.

For these situations, the introductory cost may increase to a maximum of CHF 10,000. We’ll always be upfront about any potential adjustments before proceeding.

Account Opening for High Net Worth Individuals (HNWI) with Deposits Over CHF 5 Million

  • Pricing for Standard Cases: Starting from CHF 0. This means that in standard scenarios, the service can be offered free of charge.*
  • Complex Cases: In instances where the client is from a high-risk country (as indicated by a Corruption Perception Index score below 50), holds or has held a significant official position, or has been in a senior role at an international organization or a major global company, the introduction cost may increase to as much as CHF 10,000.

These costs reflect the expertise and resources required to navigate the diverse regulatory landscapes of these countries, ensuring compliance and smooth account opening procedures. BMA Business Solutions offers tailored services to meet the specific needs of individual clients and HNWIs, ensuring a bespoke approach to international banking.

*Client should provide with copy of the bank statement from his current bank, that he/she has sifficent amount of funds to be deposited.

Opening a Commercial Bank Account for Non-Resident Companies

Can startups still open corporate bank accounts in Switzerland and Europe despite today’s strict financial regulations?

Gone are the days when opening a business bank account was a breeze. Over the past decade, this process has become more intricate and time-consuming. Any mistakes or delays can harm both businesses and banks, putting their future relationships at risk.

Today’s global climate, defined by stringent sanctions and anti-money laundering regulations, has made banks extremely cautious. Startups often face additional hurdles because they are seen as higher risk due to their lack of financial history. Banks must rigorously monitor compliance to avoid hefty fines or reputational damage, but this vigilance can create significant obstacles for new businesses trying to open accounts.

This is where BMA Business Solutions comes in. As an independent advisory firm, we specialize in helping businesses navigate these complexities. Our team of banking, legal, and compliance experts brings unparalleled experience from major financial institutions and audit firms, ensuring you receive the guidance needed to successfully open and manage your accounts.

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 EMI

BMA Business Solutions empowers regional banks and Electronic Money Institutions (EMIs) from areas like Central Asia, Eastern Europe, the Middle East, and Latin America to navigate the global financial landscape. We specialize in establishing correspondent banking relationships that streamline cross-border payments, currency exchange, and compliance within complex regulatory environments.

Our Approach:

  • Partnerships with Global Banks: We foster connections with leading banks to enhance your international payment capabilities.
  • Tailored Solutions: We understand the nuances of fragmented banking systems and offer customized strategies for cross-border payment efficiency.
  • Regulatory Expertise: We help you navigate foreign exchange and compliance requirements for seamless international transactions.

Benefits:

By partnering with BMA Business Solutions, regional banks and EMIs gain a competitive edge in the global marketplace, offering streamlined international transactions and unlocking new avenues for growth.

Frequently Asked Questions (FAQs)

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