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@StEvUgnIn

Жыл бұрын

I would love to make a 101 interview on Swiss banking myself really

That Credit Suisse line hits hard right now

I have the biggest company in the US that helps people legally set up Swiss accounts. Been doing so for 31 years. Funny because I know the guy you interviewed. His name is Pierre. He's been a friend of mine for 17 years. As I was watching, I knew beforehand where you'd be rejected and who would open it for US people. Reach out to me, Noah. Great video. Thanks.

@jamesmccreary2442

Жыл бұрын

This is such a delightful coincidence to read this. Such a cool profession you have. Thank you for sharing! 😄

@iqlaasismail2288

Жыл бұрын

Yo Unc Noah, make this happen.

@JmbutPetal

Жыл бұрын

How bout opening a shell company in caribean?

@jacquesmertens3369

Жыл бұрын

It's so comforting to know there's always someone to help criminals hide their cash. You should be so proud of yourself.

@TheBusinessGuy

Жыл бұрын

@@jacquesmertens3369 you have quite an imagination, friend. We would not accept that person as a client and neither would the bank.

Interesting concept but I feel like this was really surface level and you could’ve made it more informative with facts that explain why they don’t want to open accts for Americans. Fatca, Fbar, etc. Switzerland is far from the only country that will turn non resident Americans away

@rightright6582

Жыл бұрын

i agree , about Fatca, Fbar. it is a PITA to comply, Hence, banks do not whant to deal with it.

@MarcosCohen8

Жыл бұрын

Totally! Something that really make us feel like we are watching a secret investigation

@franktfrisby

Жыл бұрын

Honestly I felt like he went deep. Imagine in that high stress environment. You don’t want to push people bc then you look suspect and every bank won’t even let you on prim. So I think it was good.

@debraburke3018

Жыл бұрын

Noah makes interviewing random people look easy but it is not. Many people are suspicious and don't want to talk especially in Switzerland but Noah is persistent and really wants a video that will be informative and interesting. Try talking to strangers in a foreign country.

@rokpepeshogun

Жыл бұрын

They declined the camera, do you really think they would decline anyone with a decent networth and some cash for the men and women in the suit?

lmao the real funny part is how surprised some of them were when you asked for a BANK ACCOUNT... in a BANK 😂

@leosantojo1148

Жыл бұрын

The guys are like "Nooo no, we dont do that here." 😁

The reason most banks in Switzerland don't accept Americans anymore is because America changed a law where a foreign bank has to provide income information to the FDA (something like that). And because Switzerland has a banking secret and couldn't sell out their clients, they paid America billions in damages and restricted Americans from opening bank accounts in Switzerland. Not 100% accurate, but it goes something like that.

@kindbeast6974

Жыл бұрын

Does that mean foreigners of other countries are still welcomed??

@lucasdwright

Жыл бұрын

The IRS**, the FDA is the food and drug administration.

@tanks.6352

Жыл бұрын

@@kindbeast6974 YES! but prepare to deposit 500k-1mil usd initially as well

Cool Video Noah! A pity I missed you here in Switzerland. The reason why Swiss banks do not want to open a bank account is FATCA. A law that the US invented, for US money that is outside of the US. It's a pain to comply with it and most banks just do not want to risk not being compliant with it. Therefore it easier to just say no.

@numberoneappgames

Жыл бұрын

Thanks for teaching me something new.

@drfrankm

Жыл бұрын

Very true

@laurencerosenthalwinckler4439

Жыл бұрын

Even if you are an american national residing in Switzerland long term it can be a real headache to open a bank account in Switzerland. Thats a problem exclusive for americans tho... I had a friend who had double citizenship (Swiss and American) and she was having problems opening accounts in Switzerland.. I mean, Swiss banks are not as dirty as they used to be 20 years ago. The real dirty money is going somewhere else nowadays (not giving tips for you criminals reading that but try booking it at the Cayman Islands). With higher levels of digitalization and new legislations it is increasingly more risky for swiss banks reputation to deal with "dodgy clients". The image of "the swiss banks are for the villains from 007 and wolf of wallstreet" is something that I would say its already in the past, but still bashed in the media as form of entertainment because its a "known character" in the public imagination the dodgy swiss banker. Swiss wealth management sells itself nowadays with the image of Swiss safety, may it be political (neutrality) or economical stability offered by the Swiss Frank (the oldest coin still in use btw). In resume: the rich put their money in Switzerland because if the world is in shambles maybe Switzerland will be less in shambles than the rest.

@Ap_twsh

Жыл бұрын

so basically your saying the US wants to make sure their citizens pay their fair share? WOW how dare they make the billionaires disclose certain finances to prove they are paying their part. Swiss banks are definitely connected to corrupt money no denying that but your right its not the only institutions in the world that allow corrupt money to flow in and out.

@laurencerosenthalwinckler4439

Жыл бұрын

@@Ap_twsh It is not like that for a while already... Not since Automatic Exchange of Information (AEI). Only countries not at the AEI are Algeria, Armenia, Belarus, Benin, Bosnia and Herzegovina, Botswana, Burkina Faso, Cabo Verde, Cambodia, Cameroon, Chad and Congo.

2:23 "Not Credit Suisse". How appropriate an observation from the lady.

@raptexalicious866

Жыл бұрын

Unlike the bank, she did her due diligence

Swiss here. When I moved abroad to an EU country, I had to give up my Swiss accounts. Only two banks accepted me while living abroad. It's just that the banks want to avoid ending up paying huge fines.

@GymPerformance

Жыл бұрын

I had the same experience. Got turned down many times.

@talpix.gaming_

Жыл бұрын

@Siddharth probably the income source is registered in a different country

@msallehuddinsoeb

Жыл бұрын

@Siddharth big company incorporated in Ireland, Luxembourg, Liechtenstein etc. When you are rich or a big MNC, people are looking for you instead like this guy looking for banker

@franciscoc345

Жыл бұрын

@@msallehuddinsoeb Indeed, it’s quite rare that the main interested person would do those first approaches by himself/herself. You do phone calls, some emails. Before showing up like that. Lol

@shortfattoad7317

Жыл бұрын

Absolute rubbish. You can have multiple bank accounts in any country you like (unless you are an American) without disposing of your Swiss accounts. We have one in Belgium, two in the UK and one in Portugal on top of the four we have in Switzerland. Non asks you to close your foreign or your Swiss accounts, you just have to report them. They claim to be shared info anyway, but that is all bullshit, they want YOU to do the work for them. No banks pay any other fines to other countries except the US, who impose sanctions on banks to give up their US citizens accounts and so then just close them.

The IRS cracked Swiss banking secrecy about 10yrs ago. Still lots of use and benefits to have offshore accts, but the secrecy is not what it used to be for a US citizen.

@marcos14223

Жыл бұрын

it is if u know how, and have the actual money and contacts to do so, mosly u need to be presented by an existing client

It’s actually quite easy to open a Swiss bank account while living in the states. All you need is a corporate/entity with an address in the EU. Could even be a “P.O box”. I recommend having a Swiss national on the account as well, while your entity retains power of attorney over the account, make large transfer 2 sig etc etc..

Noah always blessing us with the unique financial content!

@noahkagan

Жыл бұрын

Thanks man. Glad you enjoy it!

Hi Noah, cool video. I'm glad you had a great trip to my hometown of Zurich! I could have told you all about the issues with Swiss bank accounts for U.S. citizens and permanent residents, but then again, you wouldn't have had the opportunity to visit that nice city ;-) As the former head of the tourism marketing agency for Switzerland in the U.S., I still enjoy it when people write about visiting the country and sharing their experiences with others. Hope you make a return visit some day!

Awesome video. I had worked at a Swiss financial firm back in 2006. The reason the Swiss banks don't want US residents is not because of Swiss law, it's because of inconvenience. A few years back ubs bank had a American who worked for them and he helped many rich Americans to hide money in ubs bank. In order to not have major problems with the new US reporting regulations about Americans with Swiss Bank accounts they just decided to tell all their US clients to go away. Probably the only way you can do it now is to have an offshore corporation open an account

Haha, thoroughly enjoyed that one - very funny. It's my city after all and banking is recurring topic around these parts. I wouldn't say it was a very accurate depiction of Swiss Banking, but you know, not the first or last time I guess. Hope you enjoyed your stay.

@noahkagan

Жыл бұрын

Glad you enjoyed it. Was a fun and challenging one to make.

ahahahhaha the girl from UBS warning that Credit Suisse wasn't doing their due dilligence and now UBS is trying to buy CS because of their devalorization

im working in zurich in a swiss bank , haha I would tell something anyway. its strange to talk with a stranger about this subject, you are not a friend here

Wow, that was a thrill ride. Thanks for making this.

There is Swiss startup called Relio that solves that problem - foreigners having bank account in Switzerland without trouble.

man, this man really give effort for making this video

Love this Noah. Big effort. Awesome content 👊

@noahkagan

Жыл бұрын

Thanks Alex!

Good stuff, i might just do the same someday. Thanks dude!😊

Dude I’m building my startup to fix this very problem. My family has been living there for 20 years . In Switzerland is all about relationships that’s the key to their banking success .

good video :) btw, if you want to have your money at UBS e.g. and you live in the US, you can open one with their US subsidiary. That for sure would not impose you to so many restrictions and limitations. The thing in CH is that you have to be resident in the country (as mentioned in your video) or have your business registered there to open an account (I do live in fact in Switzerland:))

@alexisgomezsalinas3560

Жыл бұрын

That would ruin the whole point of avoiding taxes.

@nage7438

Жыл бұрын

@@alexisgomezsalinas3560 that's a cliche about Switzerland anyway. There are far better options to avoid taxes than Switzerland. Most of them are island nations e.g. St. Kitts and Nevis I think

@apollospyrol7168

Жыл бұрын

@@nage7438 any banks you personally recommend to help hide taxes?

Cool video, thanks Noah! 👌🏻😊

I always wondered why so many millionaires keep their wealth in Switzerland and Singapore. Even though the video didn't go into how exactly it happens, I guess I'll find out myself someday.

@kartaros002

Жыл бұрын

Wealthy people keep portion of their wealth in Switzerland because Swiss franc is one of the strongest currencies on the market. In addition to that Switzerland was never part of any war which makes Swiss franc even stronger currency.

@dash2212

Жыл бұрын

@@kartaros002 and inflation is very very low like max 2% is allowed and they aren’t tied to anyone they aren’t EU and NATO members

@AnonymousanonymousA

Жыл бұрын

​@@kartaros002 wow never part of any war when all of Europe was a battlefield?

@kartaros002

Жыл бұрын

@@AnonymousanonymousA when certain country goes into war, their currency significantly loses value (since money is needed to buy and maintain military equipment which is crazy expensive) and becomes worthless and in addition to that inflation is raging on which makes country poor. Switzerland tended to be neutral in any war which results in Swiss franc going more stronger and stable currency. Many people choose to retire in Switzerland because of that

@gino3286

Жыл бұрын

​​​​@@kartaros002 i have always wondered why Hitler invaded Poland france Russia and any other country but not Suisse where the big money was stored Very weird isn't it?

Great video! Much love from Switzerland:)

@noahkagan

Жыл бұрын

Thanks!!

Hilarious how 2:30 calls out credit suisse months before the bailout...

My man, I think you are missing out on discord - why not start a community or smth and interact through that, come on voice chat and all? would be really entertaining and it's a great way to spread the word about your channel too!

I’m American and lived in Switzerland for several years. I work in the industry and was already familiar with the cross-jurisdictional laws that make it difficult for Americans to get an account. I had Swiss income and was a resident and STILL had a hard time getting an account. In addition to the FATCA rule that someone else commented about, there are also other obstacles more directly trusted to the IRS mandatory reporting. Global banks that hold ANY type of account or financial service will require disclosure and automatic reporting as well. That really doesn’t work for global banks. Why would they build systems just do the IRS can be nosy? Their solution is to just say No to Americans. There’s more I can clarify but that’s a big part of why you’re were being rejected.

@roseforeuropa

Жыл бұрын

What if one was a multi-national, which included US citizenship, but omitted this fact with a medium-sized bank that does not cooperate with the US IRS? Could one reasonably avoid the cruel FBAR and FACTA system? Asking for a friend of course.

@automationd

Жыл бұрын

@@roseforeuropa there is no way to omit such information without lying. The forms are build in a way where it specifically asks if you possess US citizenship.

@roseforeuropa

Жыл бұрын

@@automationd As far as my understanding of general Swiss law goes, in particular when it comes to finance, oftentimes banks are required to ask certain questions, but, unlike banks in the EU, are NOT required to verify those questions. In addition to that, Japanese law does not recognize dual citizenship (De Jure) although in practice they do (De Facto), so I could use the De Jure interpretation of Japanese civil law on citizenship as evidence that I do not possess a US nationality. Any thoughts? Are you an attorney?

@bramapouf

Жыл бұрын

@@roseforeuropa Any respectable bank has a KYC department even in CH, of course they are required to check your information... Switzerland is complying with FATCA and CRS, if a bank registered with FINMA does not implement the required rules they could lose their banking licence. Swiss banking secrecy now only applies to Swiss Residents within Switzerland. Any non resident person with a passeport from one of the OCDE member states would have their bank account data forwarded to their respective tax juridiction. Of course you could lie but you cannot lie about being a Swiss resident since they will ask you to show a residence permit to validate that... This video is just trying to create a buzz around how things were in CH until 2010.

@roseforeuropa

Жыл бұрын

@@bramapouf I think there may be some misunderstanding. My Japanese bank is separate from my American bank, as is my name and identity. There is no reason for a Swiss bank to contact the Americans when I am coming in with a Japanese passport. In fact, only the largest banks even allow Americans to open an account there, typically (UBS, CS, etc.)

Excellent... Very interesting investigation. Thanks for sharing.

People seem to think that Switzerland is the only country whose banks take in money of dubious origins. It's actually London where there are banks that take in dirty money from all over the world.

@shortfattoad7317

Жыл бұрын

HSBC!! Money laundering bank for the disposables...

@edbabine

Жыл бұрын

isn't the Vatican Bank who take a lot of dirty money.

Thanks for sharing this, interesting to see which company does this business :D

This video was very difficult to do with the resistance of willing bankers that would talk about banking and how difficult it is for Americans to do business there. It used to be a safe haven for individuals to open accounts and avoid paying taxes. I love the effort and information this video provided. Worth every click!!!!!!!!!!

@noahkagan

Жыл бұрын

Thanks for the comment (:

@KapZlock

Жыл бұрын

It indeed used to be safe and easy, but things have changed. The bank secrecy still applies to all people living in Switzerland.

awesome content man! could I trouble you to find out which brand made those spy glasses? The film was ultra HD

@noahkagan

Жыл бұрын

It’s ray ban

Uncle Noah comes through for us all once again getting us the secrets of the wealthy!!! 👏🏽👊🏾

I can tell you a bit more. I am italian and have a swiss bank account. They are not secret at all, any EU government has access to any bank account in any country. My bank however asked me only to do not have anything to do with US. They say the problem is that as tax fraud in US is a criminal offence, to have people with business or life or relation to US, they should make sure you dont dodge or evade taxes and thats basically impossible for them to know.

@noahkagan

Жыл бұрын

Thanks for info Emil!

@youngthugger8736

Жыл бұрын

It’s only secret for swiss

Thats pure hardwork man This man does his bussiness and also put time to make this creative video great !!!

Uncle Noah is back!!!

I love how shocked bankers are when you ask about opening a bank account.

Good video thanks, much love ❤

Hey bro, what's the glasses used in the video? the quality was really good.

Awesome video as always! Moved to Zurich two years ago and I absolutely love it here. "If you ever want to learn how to reject people, move to Switzerland" - haha, that part cracked me up 😂 Actually, after a little while here, you learn that people are really super nice.

@noahkagan

Жыл бұрын

Swiss were great

@GymPerformance

Жыл бұрын

@@noahkagan next visit, visit the country side of Switzerland. Total difference scene.

@edland8778

Жыл бұрын

@@noahkagan kzread.info/dash/bejne/ZKyEuJmKaLa7eMo.html Swiss Franc!

@drfrankm

Жыл бұрын

I love Zurich. Iived there for 4 years. I miss my Swiss friends

@alan6

Жыл бұрын

Is it easy to move there

Dude this is so fun - I would love to see you making mini travel docs at like 40 mins length.

Wow did you have permission to post the video of the banker without censorship? That glass camera quality is damn good by the way! Got a link? haha

Another question in our minds about purchasing a property in Switzerland. Almost impossible but there is maybe 1-2% chances out there. As an American citizen, I kindly ask you to do video about this as well please, Noah.

@shortfattoad7317

Жыл бұрын

You can buy property in Switzerland, just very few banks will give you a mortgage and if they do they will require reporting to FATCA and IRS. Also, unless you are a C permit holder, I would not risk it as they can (unlikely) kick you out and then you have to sell your property at below value. Happy to help if you have questions.

Nice suite!!

2:23 LOL not Credit Suisse

I'm surprised you didn't make an appt ahead of time with the banks.

@noahkagan

Жыл бұрын

Tried to.

would you please post the camera glasses you used thanks. great video

Basically they don't want any kind of attention because it can grab social pressure on the way Swiss banking works.

If u putting +$10millions They won’t make a big deal of the source of funds Just if u playing in any amount of money under a million dollar they will show you how strict they are try to show off all policies they have

🔥🔥🔥 - Loved this style of video Noah! Lived in Europe for a few years and definitely had my fair share of challenge with the financial system there.

@noahkagan

Жыл бұрын

Thanks so much man.

@iirokangas3434

Жыл бұрын

You talk of Europe as if it was a single country with a single financial system :D

@hsj1225

Жыл бұрын

@@iirokangas3434 - Hey Liro! Definitely not the intention. I've lived in many European countries for studies and work so for simplicity's sake I didnt list them all.

Happy new year

Monaco and Luxembourg are some other banking alternatives that offer what Swiss banks offer.

Yessssss ❤lovin it bro 💪🏼

@noahkagan

Жыл бұрын

Thanks chris

Love your content!

I love this one Alot

I want to get a pair of those glasses they could come in handy. haha

This didn't age well!!!

It can be done, just with a more stringent level of due diligence (KYC (Know Your Customer) /AML (Anti Money Laundering) documentation) than you would have on Swiss residents. With the U.S. you have in any case to look out for eventual I.R.S. requirements applicable to any U.S. person/entity (even if resident in Switzerland).

The woman who said 'not Credit Suisse' was absolutely bang on! Ha.

From where did you got sunglasses with camera?

great stuff!

@noahkagan

Жыл бұрын

Thanks :)

I’m a Swiss living abroad and even I cannot open a Swiss bank account anymore 😂

@noahkagan

Жыл бұрын

Dang

@mariasophia383

Жыл бұрын

Where do you live now? If you Don't mind me asking?

Would love link to equipment used esp those bond glasses

I'll open one for you! AHAHA Welcome to Switzerland!

Where did you get those glasses? They seem nifty.

nice video thanks alot

I LOVE NOAH FILMING AND SHOWING REJECTIONS. Keeping it real, unlike those polished "successmouthfuls"

You got a thumb up from me for trying!! 😉

5:59 not even trying to blur, loll

the UBS girl was bang on with her advise dont open with credit Suisse they dont do due diligence

Man's stepping up the youtube game

Where did you buy those glasses

What else went on in Switzerland? THAT would be a good video

@noahkagan

Жыл бұрын

Ha. Had dinner with my parents and hung out in the alps :P

Some banks seem on the thread as we are learning more and more and currency is softer. Not what it used to be.

Like my man from Nomad Capitalist will say always get another passport

Very nice video 👍👍👍

I'd say the main places for sketchy banks are Swiss, Hong Kong, Macau and Singapore.

Cool video idea my man❤need to do something like this on my channel😂

good content

When opening an account in switzerland, you are asked to sign a "non us citizen" form. Why ? because of the financial crisis in 2008 that almost took all swiss banks down. that's why... in a short form

@kindbeast6974

Жыл бұрын

So foreigners of other countries are still welcomed in swiss banks??

I'm wearing that same Jogal Hawaiian shirt from Amazon. Cool.

U need proxy to open an account right ? Like some one who live there, some one u trust.

I never thought that watching rejection would be so fun

Two weeks ago I was in Zurich. On a bus tour they said that as of about 10 years ago, foreigners can no longer open a Swiss bank account. I don't know why the people here don't just tell you the truth: "You may have seen in the movies that people open Swiss bank accounts so they can hide their money, but this is no longer the case." Exceptions are wealthy international business people, but this is a completely different story.

@LisaCulton

Жыл бұрын

I opened an account in Switzerland in 2016,but I live and work there. It was not easy, though.

@shortfattoad7317

Жыл бұрын

Anyone can open a bank account, as long as you are NOT a US citizen.

@LisaCulton

Жыл бұрын

@@shortfattoad7317 That's how it is.

@j134679

7 ай бұрын

corrupt leaders of 3rd world counties can still do it

Send the link to those glasses!

Very interesting.

Most of the banks knew he wasn't serious by the skinny tie, suit, and earrings.

As a provider of offshore services it's funny to see this situation play out. There are many reasons to have a Swiss bank account still but being a us citizen makes this quite a bit more complicated the IRS isn't exactly relaxed party to deal with.

@James777921

Жыл бұрын

What are some reasons to open a Swiss account?

@mousamkonwar12

Жыл бұрын

​@@James777921 low levels of financial risk and high levels of privacy.

@James777921

Жыл бұрын

@@mousamkonwar12 do you know how much money you need to open a Swiss account in general?

2:31 "Not Credit Suisse, they are not doing their due diligence.."

*Please say that you live in the US or the United States of America. Even Brazilians can say that they live in "America" or "Americas" as it's part of South America. I understand that A stands for "America" in USA, but that is not the representative of "America" as a whole.*

The Swiss loop has been pretty much closed off.

Bradley Birkenfeld would have been your whistleblower banker. He’s a great guy with big cojones.

Very revealing....:)

Wowww! Those glasses!

@noahkagan

Жыл бұрын

For reals

Are offshore accounts like the swiss ones only for very wealthy individuals? what if your European? would it still require such high minimum?

@noahkagan

Жыл бұрын

Don’t think so.

Heh she told you not to open one at Credit Suisse which aged well (or not...). Nice lady!

The swiss are so nice lol :)