Opening a Swiss Business Bank Account

Why it has become more complex

Opening a corporate bank account in Switzerland – once a straightforward administrative step – can now take weeks or even months.

The reasons lie in stricter compliance, AML, and sanctions regimes, heightened regulatory expectations, and the banks’ own need to balance risk management with profitability.

This particularly affects companies that:

• have foreign shareholders or ultimate beneficial owners (UBOs),
• ·operate with cross-border payment flows,
• act as holding or domiciliary entities, or
• belong to industries deemed sensitive or high-risk.

What banks now assess

Banks evaluate every new relationship from two perspectives: risk and commercial viability.

1. Risk profile – Know Your Customer in practice

Banks will seek clear answers to:

• Who owns and controls the company?
• What is the purpose and nature of the business?
• Where do funds come from, and where will they go?
• What counterparties, countries, and currencies are involved?
• Is the financial position sound and sustainable?

Special scrutiny applies to complex ownership chains, significant cross-border transactions, or industries exposed to sanctions or reputational risk.

2. Commercial perspective – the economics of onboarding

While rarely stated explicitly, every relationship must make economic sense.

Compliance and ongoing monitoring are costly, so banks compare those costs with potential revenue from fees, FX, credit, or wealth-management services.

Some institutions now charge annual maintenance fees of CHF 6 000 – 25 000 for higher-risk or cross-border corporate accounts.

Others may be flexible if the client also provides assets under management, mortgage business, or other profitable links.

What documentation is essential – and what makes a difference

A comprehensive, well-organised KYC package is key.

Standard documents include:

• Commercial register extract, articles, organisational chart
• Identification and residence proof of shareholders and UBOs
• Recent financial statements or business plan with budgets
• Major contracts, overview of payment flows (in/out, currencies, countries)
• Evidence of source of funds and source of wealth

Additional credibility enhancers:

• A professional website clearly explaining business activities and contact details
• A corporate email domain (avoid free addresses such as Gmail, Yahoo, etc.)
• A concise corporate deck or fact sheet describing structure, management, and services
• Visible Swiss presence (office, employees, or local advisors)
• A short compliance policy outlining controls, approvals, and sanctions screening
• A solid capital structure (no shareholder loans replacing equity)
• Straightforward, jargon-free description of the company’s purpose

These elements help a bank see the company as transparent, organised, and cooperative.

Industries under closer review

Banks typically apply enhanced due diligence to:

• Financial intermediaries, money-service businesses, crypto and FX firms
• Precious-metal, jewellery, and art traders
• Commodity and energy trading
• Gaming, betting, or online entertainment
• Defence, dual-use goods, or high-tech exports
• Cross-border logistics or offshore service providers
• FinTech or platform models with multi-party payments

Traditional consulting or IT service firms are generally low-risk if transactions and contracts are transparent and counterparties are reputable.

How Crowe supports clients

At Crowe, we help clients navigate the onboarding process by translating business reality into the language banks understand.

Our structured approach includes:

1. Pre-Onboarding Check – review and organise all KYC materials
2. Profile Optimisation – align business model and payment flows with bank expectations
3. Bank Selection – identify institutions matching the company’s risk and profile
4. Process Guidance – assist in communication, follow-ups, and additional requests
5. Sustainability – prepare periodic review packs for ongoing compliance updates

Key takeaways

Opening a Swiss business account today requires more preparation, transparency, and patience than ever before.

However, with professional presentation and clear communication, successful onboarding remains absolutely achievable.

Banks are not only assessing risk – they are looking for trust, clarity, and long-term partnership potential.

Firms that demonstrate those qualities, often with the right advisory support, still open accounts smoothly.

Crowe view:

“Account opening is no longer a formality – it’s the start of a relationship. Those who understand the banking ecosystem are seen as partners, not as risks.”

Contact

For guidance on account opening, KYC preparation, or Swiss bank selection:

Crowe Curator Tax AG – Financial Services & Regulatory Advisory

📧 [email protected] | 🌐 crowe.com/ch