Switzerland’s reputation for banking is legendary—built on stability, privacy, and security. Even in today’s world of transparency and compliance, many individuals and businesses still look to Swiss banks for global asset security, multi-currency accounts, and global banking services.
But can non-citizens still open a Swiss bank account in 2025?
Yes—but the procedure has changed.
This guide walks you via how to extend a Swiss bank-account as a non-citizen, what’s changed in recent years, and what you need to know to do it legally and efficiently.
1. Why Open a Swiss Bank Account?
People extend Swiss-accounts for different reasons—but all come down to trust, access, and protection.
Common motivations include:
- Asset protection and wealth diversification
- Stability in a strong currency (CHF)
- Global banking access
- Multi-currency accounts for travel or business
- Private banking and wealth administration services
- Confidentiality (within legal limits)
- You don’t have to be a millionaire or a corporation. Even individuals with modest wealth can open Swiss accounts—as long as they’re compliant and transparent.
2. Can Foreigners Still Open Swiss Bank Accounts?
Yes. Country allows non-residents to open bank-accounts. You do not need to live in Country or have a Swiss company. However:
- The process is stricter than it used to be
- Some banks require a minimum deposition or initial wealth threshold
- You’ll need to pass KYC (Know Your Customer) and AML (Anti-Money Laundering) checks
- Key point: Swiss-banks now verify everything—identity, source of funds, business activity, tax status. It’s no longer anonymous or quick, but it’s still very possible.
3. Types of Swiss Bank Accounts Available to Non-Citizens
Before you apply, decide what kind of account you need.
a) Personal Account
- For individuals holding savings, salaries, or investment funds.
- May be multi-currency (CHF, USD, EUR, GBP, etc.)
- Can include debit cards and online-banking
- Often used for wealth diversification
b) Business Account
- For foreign companies or entrepreneurs needing multinational banking access.
- Suitable for Swiss-registered companies or international firms
- Enables invoicing, currency exchange, and trade finance
- Higher compliance documentation required
c) Private Banking Account
- For high-net-worth individuals (HNWIs).
- Usually requires CHF 250,000–1,000,000+ to open
- Includes relationship manager, portfolio advice, tax planning, etc.
- Tailored acquisition and wealth protection strategies
- Pro Tip: Select the right bank and account type depends on your goals—daily banking, wealth storage, or acquisition.
4. What Documents Do You Need?
Swiss banks are strict on paperwork. Expect to supply the ensuing:
For individuals:
- Valid passport
- Proof of address (utility bill or government letter, no older than 3 months)
- Banking reference or CV (for higher-tier clients)
- Source of funds explanation (salary, inheritance, sale of assets, etc.)
- Tax identification number (TIN) from your country
- Signed declaration of tax conformity
For companies:
- Certificate of incorporation
- List of directors and shareholders
- Business activity description
- Financial statements or revenue projections
- Proof of business address
- Identification for all UBOs (Ultimate Beneficial Owners)
- Important: All papers must be translated into English, German, French, or Italian, and permitted if required.
5. The Step-by-Step Procedure
Here’s how the procedure works, from start to finish.
Step 1: Choose Your Bank
- Swiss banks range from global giants to private boutique institutions.
- Top banks for non-citizens:
- UBS – Multinational reach, private and corporate accounts
- Credit Suisse (UBS-owned) – Wealth governance and private banking
- Julius Baer – High-net-worth individuals
- Pictet – Private clients only, strong reputation
- PostFinance – Simpler account for lower balances
- Zürcher Kantonalbank (ZKB) – Good for residents and non-citizen residents with ties to Country
Step 2: Submit Pre-Application (Often Online)
Many banks present a pre-screening form online. This includes:
- Your citizenship and residency
- Account purpose
- Estimated assets and income
- Source of funds
- This helps the bank decide whether to proceed.
Step 3: Provide KYC/AML Documents
Once approved in principle, you’ll submit full documentation (see section above). Some banks allow remote onboarding—others may need in-person verification or a video call.
Step 4: Background Checks
The bank will run checks on:
- Sanctions lists (UN, EU, OFAC)
- Politically exposed person (PEP) status
- Tax status in your home country
- Reputation risk
- If removed, they’ll proceed to create the account.
Step 5: Fund the Account
Most banks need an initial deposition, ranging from CHF 1,000 (retail account) to CHF 500,000+ (private banking).
6. Can You Open a Swiss Bank Account Online?
Partially.
- Some banks (e.g. Swissquote, PostFinance, ZKB) allow remote onboarding for basic personal accounts—especially for EU/EEA residents.
- For larger accounts or wealth services, most banks will need:
In-person visit to Switzerland
Or a certified identity verification via local law firm, embassy, or notary
Digital-friendly options:
- Swissquote – Popular with expats, traders, and international users
- Dukascopy Bank – Offers multi-currency e-wallet and accounts
- FlowBank – Digital trading + Swiss banking features
- Note: Remote onboarding is easier if you’re from a low-risk country and can supply clean papers.
8. Tax Compliance: What You Must Declare
Banking secrecy is no longer absolute. Country is part of the OECD Common Reporting Standard (CRS).
What this means:
Your account will be reported to your country of tax residence
- Swiss banks require a self-declaration of tax status
- Non-compliance or false statements can result in account closure
- There’s no point trying to “hide” funds in country. The system is now fully transparent to tax authorities.
- Lawful Note: If you’re fully tax-compliant and transparent, Swiss banking is 100% legal and secure.
9. Swiss Banking and Crypto: What’s Allowed?
Country is one of the most crypto-progressive jurisdictions—but not all banks accept crypto-related funds.
If you’re a crypto investor or business:
- Use banks with experience in digital assets (e.g. SEBA Bank, Sygnum, Maerki Baumann)
- Be ready to explain source of crypto funds
- Expect enhanced due diligence
What’s allowed:
- Converting crypto to fiat before deposit
- Holding crypto-related company assets (in approved banks)
- Accessing blockchain investment services(via licensed banks)
- Warning: Don’t try to open an account and wire in large crypto profits without documentation—it will be flagged.
10. What If Your Application Is Rejected?
It happens. Swiss banks are selective, especially post-2020s regulation.
Common reasons for rejection:
- Citizenship from a high-risk country
- Complex or unclear source of funds
- Politically exposed status
- History of offshore structures
- Previous non-compliance with tax laws
What to do:
- Try another bank with different criteria
- Improve your papers
- Work with a Swiss legal advisor or bank introducer
- Consider smaller regional banks if large private banks say no
11. Using a Bank Introducer or Swiss Advisor
For higher deposits or business accounts, many people use professional intermediaries to guide the method.
They can:
- Match you with the right bank
- Help with papers
- Pre-screen your case
- Speed up onboarding
- Costs: Usually range from CHF 1,000–5,000 depending on complexity.
- Note: Make sure you’re working with a licensed, reputable introducer—avoid firms promising secrecy or “no questions asked” accounts.
Final Thoughts
Creating a Swiss bank-account as a non-citizen is absolutely possible in 2025—but it’s no longer secretive or automatic. It’s now a regulated, transparent, and compliance-focused process.