Why do people have swiss accounts? what r the benefits/drawbacks? how do i open one?

Question

Why do people have swiss accounts? what r the benefits/drawbacks? how do i open one?

Answer 1

Swiss accounts used to be used to hide money because Switzerland was a notorious tax haven.  The custom in their banks of only using numbered accounts, and never attaching a name to that number was attractive to those who didn't want others to be able to trace their money.

However, in the last few years, much of that has changed.  Due to increased pressure from the European Union and the United States, names are now associated with all accounts, which also happens to complicate the tax haven bit, as well, as now any government can figure out where you've been hiding your money, and just how much money you actually have that you never paid taxes on.

Thus, many people have switched away from Swiss account to other tax havens that still have their privacy provisions.  You can still find some attractive laws in small European or South American countries if you know the right people.

Answer 2

benefits is they dont ever release ur info. popular among drug lords, people in illegal activities.

below is a link on how to open one

http://www.essortment.com/all/howtoopens...