Why Are Swiss Bank Accounts so Special?

Why Are Swiss Bank Accounts so Special?

Why Are Swiss Bank Accounts so Special?

Switzerland's strict privacy laws make it difficult to see who holds an account there, making Swiss bank accounts ideal for those who are trying to hide money. In other words, Switzerland makes an excellent tax shelter for those who want to keep their money in a bank but don't want to pay taxes for it.

In Switzerland, It is illegal to reveal a banking client's identity, a law that has been in place since the 1930s. Additionally, the historic stability of the Swiss economy has made their banks a safer bet for storing large amounts of cash.