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Swiss Private Banking System

Swiss banking is a really fantastic way to protect your assets on many different levels. I am not referring to UBS and Credit Suisse, but protection in conjunction  with your asset protection plan. We are moving assets when we are talking about Swiss banking to a Swiss bank inside of your asset protection trust. This is the ultimate layer of protection in your asset protection plan.

Swiss private banking gives you possession physically outside of the country and legal title outside of your asset protection plan. You have control, but your assets are not there to be grabbed. It also does something else which I’ve become very aware of and concerned with in the last four years and that’s the actual safety of the banks and institutions we hold out money in.

Institutional Risk

I sent out a letter at the end of last year stating my concern around institutional risk. Institutional risk means that the bank that you hold your money in is not there one day or is in bankruptcy and you can’t get your money immediately or your money at all. Five years ago banking failures was something you would talk about in the context of the past. Since modern banking, modern financing, and modern governments we haven’t had any banking failures to speak or and certainly nobody lost any money.

When 2008 came around people lost money. Lehman Brothers and Bear Stearns went under. Many people lost lots of money during this time and are only getting a fraction of their money back. Anything less than 100% is unacceptable. One of my main concerns about US banks is the tier 1 capital ratios. Switzerland solves this because their banking system is incredibly safe. Their tier 1 capital ratios are five times what we have in the United States. There’s personal liabilities of the partners and executives of the bank for customer’s money.

Common Questions About Swiss Bank Accounts

What’s the minimum to open up a Swiss bank account?

  • The minimum is one million dollars, although an account can be opened with half a million dollars if the bank is aware that it is a starting balance and the customer is going to be adding more.

Do you pay taxes on a Swiss account?

  • Many people think or have been told that they don’t pay taxes on something until you bring it back to the US, but the truth is because the United States has worldwide taxation, you pay taxes on all the money you earn worldwide. If you have your money in a Swiss bank and you don’t earn any dividend or interest you don’t pay any taxes, but if you do the Swiss bank will issue you a 1099 just like a US bank would.

How many different currencies can you hold in a Swiss bank account?

  • You can hold 22 different currencies in your Swiss account. This can be a combination of all the hard currencies around the world as well as just one or a few. You also have the luxury of holding individual physical things in your own segregated vault or box.

Although it’s very difficult for a US citizen to get a Swiss bank account, for our clients we still are able to. I recommend it because of the tremendous benefits that come with it. If you are interested in hearing more about Swiss private bank accounts or have questions call us today at Lodmell & Lodmell.

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This Post Has 2 Comments

  1. Get out of the Stock, Bond and Speculative Real Estate Markets and Reduce your Debts as much as possible;

    Buy Hard Assets such as Gold Bullion, Silver, Diamonds and a number of other Commodities along with high velocity “Private Placement Programs”;

    Thanks,
    Fiscal Policy Issues

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Pashmina Lalchandani

CEO & Co-Founder, Bar & Cocoa / Owner, Flow Simple
December 9, 2010, Douglass was a client of Pashmina’s

I’ve known Doug in many contexts, as a friend, as a client and as a business partner and he impresses me on all levels. He’s dependable, smart, generous and I wouldn’t hesitate recommending him and his law firm to anyone.
He’s the best and most ethical lawyers providing asset protection with rock solid strategies to give you peace of mind about your wealth. Straight forward, and straight talk. Doug is exactly the lawyer I want on my side. If I send someone to Doug, I know they’ll thank me for it!

Social & Solar Entrepreneur, Pan Afrikan Theorist, Translator/Interpreter,
Founder & Visionary Leader @ Afrikanpride.
March 12, 2011, Marlon E. D. J. worked with Douglass but at different companies

Doug is one of the most powerful thinker i have came across. During the short time that i have known Doug he has been a great source of inspiration. He has a simplistic yet effective and accurate way to analyze anything you bring to his attention, and then by asking you key questions he gets you to see the light at the end of the tunnel. Besides being extremely bright, he is a genuine and caring individual which is why I feel fortunate to know him. I can say without a doubt that he his the person you would want to talk to if you were in need of a person with his expertise.
Most of the lawyers out there will probably meet your needs, but if you are looking for someone to exceed your expectations and give you that wow factor, look no more he is the person for the job.

Patricia Salter

Associate Dentist at Smileology
December 1, 2010, Patricia was a client of Douglass’

I have been a client of Douglas Lodmell’s since 2001. My main concern was asset protection in this litigious society. I can sleep alot better at night knowing I have the instruments in place to protect the fruits of my labor, and that they will not end up in the hands of a slick trial attorney.

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