Swiss private banking for Americans: a legal guide

Full transcript

0:10 Hi, I’m Max Dilendorf, a New York-based attorney at Dilendorf Law Firm.

0:15 Our firm focuses on helping U.S. and international families with complex personal and business matters—from estate planning and international structuring to crypto asset protection and private banking strategies. If you’re thinking about opening a Swiss bank account in 2025, you’re not alone. For many U.S. clients, it’s a smart way to diversify wealth, access global markets, and build a long-term international plan.

0:49 Legal Access to Swiss Banking for U.S. Clients Let’s break it down.

0:52 First—yes, U.S. citizens can legally open Swiss bank accounts.

0:57 The process is pretty straightforward, but it’s not instant. It usually takes about 4 to 8 weeks for onboarding. That includes standard Know Your Client and Anti-Money Laundering checks.

1:11 Required Document You’ll need to provide a passport, proof of address, and financial statements. Most of it is submitted digitally.

1:23 Private banks in Zurich typically require a minimum deposit—usually between $250,000 and $1 million. But in return, you get personalized service, segregated accounts, and access to global investment options.

1:40 Selecting the Right Swiss Banking Partner Now, not all banks in Switzerland work with U.S. clients—but several reputable ones do. They’re fully FATCA-compliant and understand the IRS rules inside and out. At our firm, we’ve built strong working relationships with many of these banks. That means we can help guide you through the process and make onboarding more efficient. But let’s talk compliance—because this part is non-negotiable. As a U.S. citizen, you’re required to report your foreign accounts. U.S. Compliance and Reporting Obligations That means: — FinCEN Form 114, or FBAR, if your foreign account balances exceed $10,000. — IRS Form 8938, under FATCA, if your foreign assets are over $50,000 individually, or $100,000 jointly.

2:27 Penalties for missing these can be severe—up to $10,000 per form, or even 50% of the account value in some cases. Swiss banks report directly to the IRS under FATCA, so full transparency is absolutely essential.

2:47 But let me be clear—this isn’t about hiding assets. It’s about smart, legal diversification. Swiss accounts can give you access to European stock markets, which often trade at much lower valuations than U.S. equities.

3:03 You can also invest in alternatives like gold, with storage fees as low as 0.5%—much cheaper than many U.S. custodians. And then there’s real estate.

3:14 International Real Estate Opportunities On June 19, 2025, the Swiss National Bank dropped interest rates to 0%. As a result, mortgage rates in the EU are now around 1.74 to 1.97%—compared to 5 to 7% in the U.S. That’s a huge savings. On a $1 million property in Spain, that could mean $25,000 less in interest payments—every year.

3:41 We’ll go deeper into European real estate financing in the next episode.

3:46 Trusts, LLCs, and Offshore Structures For now, just know this—whether you’re using a revocable living trust, an LLC, or an offshore trust like a Cook Islands structure, we help clients legally and efficiently open Swiss accounts as part of a bigger wealth strategy.

4:03 It’s also a hedge. The U.S. dollar has lost over 50% of its value against the Swiss Franc since 2000. So if you’re looking for smart global diversification, this is one way to do it. Thanks for watching. If this was helpful, subscribe—there’s much more coming on Swiss banking, international structuring, and global wealth strategies. I’m Max Dilendorf. See you in the next episode.

A transcript of the recording, so it reads as speech rather than as prose. It explains the law in general terms and is not advice on your own situation, which turns on facts this video cannot know.