Bankfähigkeit und Onboarding

The step that takes longest

Before a Swiss bank opens an account for a company, it examines who owns and controls it, where its money comes from and what it does. For companies from emerging and frontier markets this review is often the step that takes longest, and a well-prepared file shortens it considerably.

Swiss banks are bound by the Anti-Money Laundering Act and by the banks' own agreement on due diligence. They must identify the contracting party, establish the beneficial owner and understand the purpose of the business relationship. For operating companies the controlling persons are recorded on a standard form, and for trusts and similar structures the settlor, trustees and beneficiaries must be disclosed.

Preparing a convincing file

A well-prepared file usually contains certified and, where necessary, apostilled register extracts, articles of association, an organisational chart of the group, identification documents of the controlling persons and a clear account of the source of wealth and funds. Documents in Chinese, Arabic or other languages will often need certified translations, which should be arranged early.

Banks also look at the business itself: its customers, suppliers, countries of operation and expected transactions. Exposure to sanctioned countries, politically exposed persons or cash-intensive activities leads to closer examination. Explaining these points openly and with supporting evidence is far more effective than leaving the bank to discover them, and it lays the foundation for a relationship that remains stable after the account is opened.

In this section

The articles explain what Swiss banks ask for, how to prepare an onboarding file for a Chinese or other foreign company, why domiciliary companies with a Swiss address alone are no longer accepted, and how the new transparency rules affect the process.