Published on and written by Cyril Jarnias
Setting up a structure in Switzerland or developing a business there often means quickly hitting a simple reality: without a professional bank account, nothing moves forward. Blocked capital, commercial register entry, supplier payments, salaries, VAT, relations with the AVS… everything goes through the banking system. But between the requirements of traditional banks, online solutions, and international compliance constraints, the path can quickly become opaque, especially for a foreign entrepreneur.
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This practical guide presents concrete options for opening a bank account in the name of a company in Switzerland, whether you are a resident or non-resident, based solely on factual data from the provided research report.
Understanding the Swiss framework: who can open an account and under what conditions?
Before even comparing banks, you need to grasp a key reality: Switzerland opens its banking system to foreign companies, but within a particularly strict compliance framework. Access is neither reserved for residents nor automatic.
Swiss banks generally accept Swiss and foreign companies, self-employed individuals, sole proprietorships, and legal entities of all sizes. Non-residents, including French tax residents, can also open an account subject to meeting compliance requirements (KYC/AML and tax declarations).
However, institutions review each file individually and apply several filters: origin of funds, business model, country of tax residence, possible status as a politically exposed person (PEP), potentially sensitive nationality, risks related to the sector (crypto, complex international trade, domiciliary structures without “substance”).
For a foreign entrepreneur, it is therefore essential to understand that opening a professional account in Switzerland is a compliance matter before being a simple commercial service.
Economic and legal connection to Switzerland: a central condition for traditional banks
For a company wishing to open an account at a conventional bank (UBS, Raiffeisen, cantonal banks, etc.), one criterion dominates: the existence of a strong economic and legal link to Switzerland.
In practice, this usually translates to one or more of the following conditions:
– The company is registered in the Swiss Commercial Register and has a business identification number (IDE / UID).
– At least one account signatory (director, manager, CEO) is domiciled in Switzerland.
– The company has an effective seat or domiciliation in Switzerland (commercial lease, recognized professional domiciliation agreement).
– The business generates or aims to generate economic substance in Switzerland (local clients, contracts, employees, office).
Many traditional banks refuse to open an account for domiciliary companies without a tangible link, analyzing economic substance (offices, personnel, beneficial owners) and preferring to decline to avoid reputational or compliance risk.
In this context, it is important to clearly distinguish two major paths: the professional account at a traditional Swiss bank, and alternative solutions (fintech, multi-currency accounts, neobanks) that allow you to obtain a Swiss IBAN without necessarily setting up a local structure.
Opening a professional account in Switzerland without traveling: where do we really stand?
For a long time, opening an account in Switzerland required a physical trip, a bank appointment, signing on site, and sometimes several round trips. Things have evolved.
On one hand, traditional banks often still require physical presence at some point in the process, especially for complex structures or foreign companies. In-branch interviews, signature legalization, or even attending a meeting with the bank remain common.
The rise of fully digital players like Zak, Neon, Yuh, or Radicant has led to entirely online account opening processes, with video identification, scanned document exchange, and electronic signatures. These Swiss-law institutions allow foreign clients to open an account without traveling, both for personal use and for simple professional needs.
For companies and freelancers billing in Switzerland without necessarily having a permanent establishment there, solutions like Wise Business play a pivotal role: they offer a Swiss IBAN (starting with CH) to receive payments in Swiss francs, without requiring residency or local registration. This is not an account at a traditional Swiss bank, but it provides fully functional Swiss banking details, often with a 100% online process.
In summary, opening a professional account “in Switzerland” without traveling is now possible, but the type of account and the level of recognition by local counterparts (banks, notaries, authorities) vary depending on the solution chosen.
The different categories of accounts for companies
The Swiss banking system offers a range of accounts tailored to businesses’ needs depending on their stage of development, legal status, and cash flow.
The capital deposit account (blocked account for capital release)
For capital companies (GmbH, AG), the first banking step is often opening a capital deposit account, sometimes called a blocked account. This is a frozen account opened in the name of the “company in formation,” on which the partners deposit the share capital.
The minimum amounts are set by law:
| Legal form | Minimum nominal capital | Capital to be paid in initially | Specifics |
|---|---|---|---|
| GmbH (Sàrl) | 20,000 CHF | 20,000 CHF (100%) | Fully paid in at creation |
| AG (SA) | 100,000 CHF | 50,000 CHF min. | The balance can be paid in later |
Once the capital is deposited, the bank issues a capital deposit certificate. This document is essential for the notary, who uses it to draft the deed of incorporation. Until the registration in the Commercial Register is published, the funds remain blocked. After registration, the bank converts this blocked account into a current professional account and releases the funds for the company to use.
Fees for the capital deposit certificate generally range between 200 and 400 CHF depending on the banking institution.
The professional current account (business account)
The professional current account is the basic account for the company. It is used to:
– receive client payments (transfers, QR-bills, cards),
– pay suppliers, salaries, rent, social charges, and taxes,
– manage day-to-day cash flow,
– possibly park excess liquidity.
Banks offer current accounts in Swiss francs, as well as in foreign currencies (euros, dollars, etc.). For highly international activities, a foreign currency account helps limit repeated conversions and choose the right time to exchange money.
Account maintenance fees for a business usually range between 0 and 30 CHF per month depending on the bank, canton, and chosen package. Some offers include a number of free transactions per quarter, beyond which each entry is charged.
Foreign currency accounts and multi-currency solutions
For companies billing regularly in euros or dollars, opening a foreign currency account with a Swiss bank, complemented by solutions like Wise Business, Amnis, or Revolut Business, helps reduce exchange costs.
Wise Business offers an account with no maintenance fees, uses the interbank rate with a very low margin (around 0.23%), allows you to manage multiple currencies, and receive CHF via a Swiss IBAN. For freelancers and SMEs conducting foreign currency transactions, this combination (CHF account with a Swiss bank + multi-currency fintech account) is often the most economical option.
Savings accounts and reserve accounts for businesses
Alongside current accounts, Swiss banks offer savings accounts for businesses, intended for medium- to long-term reserves. Some products, such as notice accounts (e.g., releasing funds after 180 days), allow predictable planning for future investments or building reserves.
Interest rates remain generally modest, but a few neobanks offer more attractive returns than traditional institutions.
Documents to prepare: the heart of the file
The strength of the documentary file is decisive. For a company, Swiss banks generally require two sets of documents: those concerning the legal entity, and those concerning the individuals involved (directors, signatories, beneficial owners).
Documents relating to the company
For a standard professional account at a Swiss bank, you typically need: monthly management fees, online banking services, the ability to manage multiple currencies, credit options for businesses, and access to personalized financial advice.
| Type of document | Expected content |
|---|---|
| Proof of registration | Extract from the Swiss Commercial Register (or Kbis/equivalent for a foreign company) |
| Incorporation documents | Articles of association, deed of incorporation, list of partners/shareholders and bodies (management, board) |
| Identification number | IDE/UID for a Swiss company, TIN for a foreign company |
| Recent minutes | Extract from minutes (less than 12 months) appointing persons authorized to sign if not already in the articles |
| Annual accounts | Balance sheets and income statements for the last fiscal year (for an already active company) |
| Business plan | Description of activity, markets, business model, revenue forecasts |
| Registered office address | Commercial lease or professional domiciliation agreement, or proof of registered office |
For foreign companies wanting an account in Switzerland, banks often require a detailed organizational chart going up to the ultimate beneficial owner, along with registration documents from the country of origin.
Documents relating to individuals (directors, signatories, UBO)
Banks must precisely identify the beneficial owners (UBO) holding, directly or indirectly, more than 25% of the company, as well as individuals with signing authority on the account.
The key elements include the following:
Description of the first key feature
Description of the second key feature
– an official ID: valid passport or national identity card (driver’s license not accepted),
– a recent proof of residence: utility bill, bank statement, lease agreement, or official certificate, usually less than three months old,
– possibly a Swiss residence permit (B, C, or L permit) for foreign residents,
– a brief curriculum vitae with contact details (email, phone),
– personal tax identification number (TIN),
– a description of the origin of funds contributed to the company (share capital, shareholder loans, etc.) and the expected origin of flows (main clients and suppliers).
In some cases, additional tax documents are requested (tax assessment notice, tax residence certificate, W-9 or W-8BEN forms for FATCA issues, especially for U.S. citizens).
Origin of funds: a very sensitive area
Institutions must demonstrate that the money flowing through the account comes from licit sources. They therefore frequently require:
– pay slips,
– statements from existing bank accounts,
– contracts for the sale of a business or assets,
– notarial deeds of inheritance or donation,
– significant service or sales contracts,
– for companies: articles of association, shareholder agreements, proof of fundraising.
The more complex the profile (multi-structures, international holding companies, sensitive sector), the more inclined the bank will be to raise additional questions and request supporting documents.
Concrete steps to open a professional account
The opening process varies from one institution to another, but the general logic is quite similar.
1. Choose the type of institution and the right offer
The first decision concerns the type of bank or provider:
– traditional bank (UBS, Raiffeisen, cantonal banks, Migros Bank…): branch network, broad range of services, well accepted by notaries and authorities, but often higher costs and stronger substance requirements;
– Swiss neobank (Zak, Neon, Yuh, Radicant): fast opening, very low or zero account maintenance fees, but professional features still limited in some cases and not well suited for complex structures;
– multi-currency fintech (Wise Business, Revolut Business, Amnis): ideal for international payments and receiving CHF via a Swiss IBAN, with very low exchange margins, but these are not traditional banks in the Swiss sense.
For a GmbH (Sàrl) or AG (SA) requiring a capital deposit account, UBS (key4 business), Raiffeisen, and certain cantonal banks are the preferred partners, as their certificates are systematically accepted by notaries and commercial registers.
2. Prepare the file in advance
Before even contacting a bank, it is useful to gather all the documents mentioned above in digital format (clear PDFs, translated if necessary). This advance preparation significantly reduces back-and-forth and speeds up the compliance review.
For a foreign company, also prepare:
– the registration extract (Kbis, Companies House, etc.) dated less than 3 months ago,
– the latest financial statements,
– a clear organizational chart.
3. Submit the application and complete the identification
The application can be submitted: the application can be submitted.
– online, via a portal like UBS key4 business or the space of certain neobanks,
– by mail, for some banks that are still less digital,
– in branch, by appointment, if you are in Switzerland.
The identification of the representative and beneficial owners is often done via video through a secure application filming the ID document and the face. Sometimes, signature legalization before a Swiss notary or a Swiss consulate abroad is still required.
4. Compliance review (KYC / AML)
This step is often the longest. The bank’s compliance department verifies: the documents provided, the client’s identity, and any possible financial history.
– the identity of stakeholders,
– the consistency between the declared profile and expected transactions,
– the traceability of the origin of funds,
– compliance with international sanctions and watchlists,
– the absence of high risk (PEP, ultra-sensitive sectors…).
Depending on the complexity of the file, this phase can take from a few days to several weeks. For a foreign company with a complex ownership structure, delays of 6 to 8 weeks are not uncommon.
5. Validation and account activation
Once the file is accepted, the bank: ensures project financing and sets up the various repayment terms that will be specified in the loan agreement.
– provides the bank details (IBAN, especially CH for accounts domiciled in Switzerland),
– issues e-banking access,
– possibly issues debit/credit cards.
The account is considered fully operational after the first actual deposit (share capital for a company in formation, or first payment for an existing company).
Special case: opening an account from abroad to create a GmbH or AG
For a non-resident founder wishing to create a capital company in Switzerland, several additional constraints apply.
The law requires that the share capital (20,000 CHF for a GmbH, at least 50,000 CHF for an AG) be deposited in a blocked account in Switzerland before the notarial deed is signed.
From abroad, scenarios vary by bank:
Some Swiss banks require the physical presence of the founder or a representative when opening the blocked account, while others accept a remote process with legalized or apostilled documents. Additional checks such as a video interview or enhanced verification of beneficial owners and the origin of funds may be required.
A common approach to limit the risk of blockage is to plan a 1- to 2-day trip to Switzerland: meeting with the trustee, bank appointment for identification, and possibly attending the notarial appointment.
Resident manager or director and domiciliation
Even though the shares of a GmbH can be held 100% by a non-resident, the law requires that at least one manager or director be domiciled in Switzerland. Many entrepreneurs choose to mandate a local trustee or lawyer to fulfill this role, via a notarized and apostilled international power of attorney.
The company must have a registered office address in Switzerland, often provided via a professional domiciliation agreement. This document is required by the bank and the Commercial Register.
Bank file from abroad: the role of the power of attorney
For an absent founder, a Swiss representative goes to the bank with:
– a notarized international power of attorney,
– certified true copies of identity documents,
– the draft articles and information about the future capital,
– information about the beneficial owners.
Some banks remain reluctant without a direct meeting with the beneficial owner, hence the value of planning an in-person appointment or, at minimum, a formal video conference.
Costs, fees, and differences between banks
Fees related to a professional account in Switzerland break down into several layers: capital attestation, account maintenance, cards, payments, exchange, ancillary services.
Account fees and capital attestation
For capital companies, a typical cost structure might look like this:
| Cost item | Indicative range |
|---|---|
| Capital deposit certificate (GmbH / AG) | 200 – 400 CHF (one-time) |
| Professional account maintenance (traditional bank) | 5 – 20 CHF / month |
| Account maintenance (professional neobanks) | 0 – 96 CHF / year |
| Wise Business account maintenance | 0 CHF |
Some offers, such as UBS key4 business, provide a free blocked account and a free professional account for the first year, before transitioning to moderate quarterly fees.
Fees on payments, cards, and international transactions
Fees on payment flows are often more difficult to anticipate: they depend on the package, the number of included transactions, and the exchange rate policy.
>Main points of attention:Main fees charged by traditional banks to businesses
Fee per outgoing payment, especially abroad
Costs of 20 to 50 CHF per year per card (debit or credit)
Margin of 1 to 4% on foreign currency payments
Possible additional fees on cash withdrawals
Fintechs like Wise Business or Revolut Business stand out here by applying the interbank rate with a much lower margin (around 0.23% for Wise generally, up to 0.6–1% at Revolut beyond certain monthly thresholds, especially on weekends).
Success fees for complex cases
For particularly complex opening cases (multi-level companies, funds, regulated vehicles), some specialized providers charge “success fees” only if the IBAN is actually created:
| Level of complexity of the file | Typical success fee |
|---|---|
| LOW (single direct beneficiary) | 6,000 CHF |
| MEDIUM (multiple shareholders / intermediate holdings) | 8,000 CHF |
| HIGH (multiple shareholders and levels of ownership) | 10,000 CHF |
| VERY HIGH (funds, regulated investment vehicles) | 15,000 CHF |
These amounts are generally not due if no account is ultimately opened.
Banks and players mentioned: what do they actually do?
The Swiss landscape is very fragmented, but a few players stand out depending on profiles.
Overview of banking players and fintechs for Swiss companies: UBS, Raiffeisen, cantonal banks, Migros Bank, Wise Business and Revolut Business.
Major player in the corporate segment, strengthened by the integration of Credit Suisse. key4 business platform, competitive offer for creating GmbH and AG with free blocked account and free professional account for the first year.
Cooperative network with strong regional presence, appreciated by local SMEs. Offers classic business accounts and proximity services.
BCV, BCGE, BCF, BCN, etc. Deeply rooted in their canton, they combine state guarantee and good knowledge of the local economic fabric. Blocked account fees from 200 to 300 CHF.
Retail and professional bank with competitive base fees for current accounts, but higher exchange margins for foreign currency operations.
Ideal solution for freelancers and companies with frequent international payments. No maintenance fees, exchange at interbank rate + 0.23% on average, Swiss IBAN for CHF.
Advantageous for limited monthly exchange volumes (free threshold). Monthly subscription required.
For freelancers with less than 100,000 CHF in revenue, mainly in CHF, digital solutions like Neon Business, Yuh, or PostFinance’s SME online packages are often sufficient and very economical. As soon as there is share capital to be released, employees, or financing needs, traditional banks often become essential again.
The issues of economic substance: domiciliation, offices, employees
For so-called “domiciliary” companies — i.e., registered in Switzerland but with real management, offices, and employees abroad — opening and maintaining a bank account has become more difficult.
Banks must:
To comply with obligations, they must identify beneficial owners holding more than 25% directly or indirectly, analyze the complete organizational chart, verify economic substance (real office, employees, contracts, local revenue), and complete specific forms: Form A on UBO, and CRS/FATCA forms depending on tax profiles.
In the absence of sufficient proof of substance, institutions may refuse the opening or even, over time, close an account while reporting flows deemed atypical to supervisory authorities. Affected companies therefore have an interest in:
– strengthening their real presence in Switzerland (employees, premises, local contracts),
– using specialized tax and regulatory advisors,
– turning to banks that are explicitly open to domiciliary companies, within a framework of assumed transparency.
Opening an account in Switzerland when you are a French tax resident
For a French tax resident opening a professional account in Switzerland, two layers overlap: the banking layer and the tax layer.
On the banking side, nothing prohibits a French company from opening an account in Switzerland, provided the bank accepts non-residents and the compliance file is complete. For a French company, a Swiss account can allow, for example, facilitating CHF flows with Swiss clients or suppliers, or diversifying currencies.
On the tax side, French regulations require declaring any account opened abroad, including in Switzerland, via the appropriate forms (3916 / 3916 bis for individuals in particular). Transparency is the rule, especially since Switzerland now applies the automatic exchange of information (AEOI) with its partners. The era when you could “hide” an account in Switzerland is over; the main interest today lies in diversification, asset protection, the quality of the legal framework, and, for a Swiss company, the overall competitiveness of the local tax system.
French tax regulations
A refused account costs you the company, not just a week.
Banks read the file as a risk decision: activity, substance, residence and the story behind the company.
How to limit the risk of account refusal?
Even with a serious project, some entrepreneurs face repeated refusals. A few principles can significantly increase chances of success:
To maximize your chances of opening a Swiss account, it is essential to build a coherent file: the business plan, projected revenues, sources of funds, and the profile of the directors must tell a credible story. Avoid unnecessarily complex structures without a clear economic justification. Choose a bank suited to your profile: a local SME will turn to a cantonal bank or Raiffeisen, an international startup with complex funding rounds will look to UBS or a specialized provider, and a micro freelance activity to a neobank. Be proactive with documentation by voluntarily providing register extracts, annual accounts, organizational charts, and proof of the origin of funds. Finally, accept that some banks may decline files for internal reasons (risk appetite, country, sector), without questioning the legitimacy of the project.
When a file is particularly atypical or international, using an experienced intermediary (trustee, specialized firm, family office) can make a difference, especially for communicating with bank compliance departments.
In practice: how to choose your banking strategy for a company in Switzerland?
Ultimately, the right approach depends on the combination of several parameters: legal form, place of residence of the partners, volume and nature of cash flow, importance of international operations, need for growth financing.
We can summarize a few common configurations:
Micro freelance activity in Switzerland with few international flows: professional account at a Swiss neobank or cantonal bank with a basic package, supplemented by Wise Business for a few foreign currency transactions. Swiss GmbH or AG with share capital to be released, several employees, local activity: blocked account and current account at UBS, Raiffeisen, or a cantonal bank, with professional payment solutions, cards, and operating loans. Foreign company billing regularly in CHF to Swiss clients without a permanent establishment: Swiss IBAN via Wise Business, combined with a traditional account if a stronger link materializes (subsidiary, representative office). Complex international structure, investment fund, or regulated vehicle: support from a specialized provider, choice of banks used to regulated cases, acceptance of significant setup fees (success fees).
In any case, opening a bank account for your company in Switzerland requires viewing the bank as a long-term partner rather than a simple provider of IBAN details. Compliance with regulatory rules, clarity on the origin of funds, and tax transparency have become non-negotiable. This is the price to pay for benefiting from the stability of the Swiss franc, the solidity of the Swiss banking system, and access to one of the most attractive economies in the world.
This page covers the banking step. For the legal forms, the taxation and the full incorporation path, start from the parent guide on Swiss company formation, then see taxation and tax residence.
BEFORE YOU FUND THE CAPITAL
A bank refusal can stop an incorporated company.
An independent review checks what the banking step will realistically require for your specific source of funds and planned activity in 2027 — before you fund an incorporation a corporate account will not unlock.
Check whether the bank will open itFAQ
1.Can a non-resident open a Swiss corporate bank account?
Yes, but it is the hardest step. Banks apply AMLA/FINMA anti-money-laundering checks and assess economic substance; expect document requests, delays and possible refusal.
2.What documents does the bank require?
Typically valid ID, proof of beneficial ownership, source of funds and wealth, a business plan, and an interview. A complete, coherent file is decisive.
3.What capital must be paid in before opening the account?
For a GmbH, CHF 20,000 fully paid; for an AG, CHF 100,000 nominal with at least CHF 50,000 paid in. The capital is usually deposited in a blocked account before registration.
4.What is a blocked capital account?
An account opened and funded before incorporation, so the notary and the register can confirm the capital exists. It is converted to an operating account once the company exists.
5.Why do banks refuse domiciliary companies?
Because a company with no tangible link to Switzerland (no office, staff or local activity) looks like a letterbox. Demonstrating real substance reduces the risk of refusal.
Which bank, in which order, with which documents?
Opening the capital account, then the operating account, is a sequence: the wrong order stalls the whole setup.
Sources
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Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.
On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.
Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.
