The banking system of Switzerland is one of the largest in the world. Control over the activities of banks, securities markets and investment funds are carried out by the FINMA. If you want to open a corporate account in Switzerland, then you should know that about 248 authorized banks operate in the state.
This article was prepared for informational purposes for those who want to open an account with Hinduja Bank.
Bank overviewThe Hinduja Bank (Switzerland) was originally registered as a financial company (1978) and only in 1994 became a regulated bank.
Entrepreneurs who have decided to open an account with Hinduja Bank (Switzerland), must consider the following:
- The bank's head office is located in Geneva;
- In 2009, the bank acquired a controlling interest in Patersons Securities (a financial services company);
- There are subsidiaries with a banking license of the 1st category, which allows them to provide a full range of financial services;
- In 2010, the institution acquired the Banca Commerciale Lugano (BCL);
- Customer deposits held in the bank's Swiss branches are protected up to CHF 100,000 per client.
Please note that the Swiss government, along with many other countries, has adopted legislation aimed at compliance with AML/CFT policies.
Hinduja Bank servicesWhen opening an account for a company with Hinduja Bank, it is important to familiarize yourself with the bank's services. Therefore, please note that the Hinduja Bank (Switzerland) Ltd offer:
- Innovative asset management services;
- Private banking services; and
- International investment services.
Documents required for opening a Hinduja Bank accountThe package of documents may vary depending on who will be the bank's client (an individual or a legal entity). YB Case can assist in preparing the necessary documents and checking them for any errors. You can discuss this issue in more detail with a specialized advisor.
Key advantages of the bankOpening an account with Hinduja Bank can be beneficial due to the highly personalized private banking services and the access to a wide range of investment opportunities in the public and private markets.
We want to note that YB Case experts can provide you with qualified advice on how to open an account with Hinduja Bank remotely.
TariffsBefore deciding to open an account with a Swiss bank, it will be useful to consider the tariffs of this financial institution.
- Money transfers in CHF – 35 CHF, in EUR – 35 EUR, in USD – 40 USD, in other currencies – 40 CHF;
- Custodian services – 0.32%, but not less than 250 CHF/per year;
- Account maintenance (per year) – from 400 CHF to 2 000 CHF (depending on the balance).
Application review period is from 2 to 3 weeks.