Swiss Custody Account for Non-Residents

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  • BenutzernameMoneyland User Questions
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  • Registriert seit1/27/17
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Dear forum,

I have a custody account in which I hold Swiss shares worth around 600,000 francs, plus a CHF acount and EUR account which hold dividends earned - all at Credit Suisse in Switzerland. Aside from reinvesting the dividends earned, I don't buy or sell shares. Unfortunately, the fees charged by Credit Suisse are just too high.

I am looking for a different bank with lower fees for custody accounts and securities transactions. The bank needs to be able to provide me with a tax declaration for Germany. All assets are declared in Germany for tax purposes.

Could you provide me with information about custody accounts which suit this purpose?

With kind regards,

 
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  • BenutzernameMoneyguru von moneyland.ch
  • OrtSchweiz
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Hi there,

You can easily find out which Swiss brokers offer accounts to residents of your country by selecting the country in which you reside under "My country of residence" in the moneyland.ch online trading platform comparison.

Best regards from Moneyguru

 
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  • BenutzernameMoneyland User Questions
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Hello,

I would like to open a custody account at UBS in Switzerland. Now I’ve been told that I would have to report all transactions made through the account to the German Federal Bank.

Is that true, and could anyone explain to me what the process for reporting securities transactions looks like? I am fairly new to the whole investing thing.

 
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  • BenutzernameMoneyland User Answers
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If I were you, I would be more worried about how to pay the fees charged by UBS. Swiss brokers and big banks especially are incredibly overpriced.

> Now I’ve been told that I would have to report all transactions made through the account to the German Federal Bank.

Yes, it’s called the AEOI. But you don’t have to do anything as a customer. UBS will automatically report you as a foreign customer.

 
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  • BenutzernameMoneyland User Questions
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Ok, thanks. I’m just learning the ropes at the moment.