US Money Swiss Banks Restrictions

Do you have comparative information on the different restrictions which different financial institutions pose on American derived money?

Many Swiss financial institutions place limitations on the acceptance of new customers who are US tax residents. These primarily apply to US citizens and US green card holders.

To the best of our knowledge, Swiss banks do not place limitations on US-derived money. Swiss tax residents who are not also US tax residents should not have difficulty transferring money from US sources to Switzerland.

It is possible that in some cases, banks may ask customers to provide evidence of the source of the money in keeping with their money laundering prevention obligations. US withholding taxes apply to certain sources of revenue (dividends from US stocks, for example).

If you are a US tax resident, you may find it difficult to open accounts at Swiss banks or take out Swiss cash value life insurance. As Swiss banks and insurance companies set up administrative systems to manage US FATCA compliance requirements, they will likely become more accepting of US tax residents.

Unfortunately we do not (yet) have a comparison of limitations for US tax residents at different Swiss banks and insurance providers.

It is worth noting that the Swiss postal bank PostFinance is required to service all residents of Switzerland, including residents who are also US tax residents.

More forums on this topic:
Mortgages in Switzerland for US citizens

Thanks. Would restrictions for USA citizens and affiliates encompass limitations on any type of derivative investment ( Swiss BRCs), even as a HNWI according to SEC definitions? If so, how would this limitation in any way be prompted by FATCA?

Are there disclosures for American citizens available anywhere? Would FINMA hold any guidance?