Micheloud & Cie Swiss Bank Accounts

CalamityJane_2

Has anyone had experience with Micheloud & Cie to get a Swiss Bank Account please?
Their website looks interesting.

Any advice on Micheloud & Cie would be much appreciated.

tom188

Very nice, why do you want one? I would imagine they will want a significant deposit before taking any interest in you.

CalamityJane_2

Not as bad as imagined. Around £4000 is enough for a deposit. The costs to set up are around £500 (sterling).
Very useful for divorce.

Hoping to hear from someone with experience of that particular company though (Micheloud & Cie).

Cook_County

Switzerland will disclose under the terms of the EU Savings Tax Directive, so is not secret. I guess you are interested in asset protection though, and that is really a legal question so speak with a solicitor.

Gabriel-Ernest

They don't appear to be regulated by the Swiss Federal Banking Commission, which would ring alarm bells for me, given that they're advising on Swiss banking matters as part of their services.

Some Swiss financial institutions are members of SROs (self-regulatory organisations) which are not as stringent as the SFBC, but that doesn't even seem to be the case here.

Be aware that if you're looking to transfer funds back into the UK banking system from an unregulated Swiss entity, there will be lots of monitoring going on; expect to be grilled on the source of the funds. It's a prime location favoured by moneylaunderers.

CalamityJane_2

Does a Swiss account opened in a UK branch (say UBS?) afford the same privacy as going direct in Switzerland?

Apart from inland rev, do UK banks report to anyone else?
What balance of funds activates their reporting levels?