Philippe de LaCroix Associes - Specialists in Exclusive Swiss Private Banking

Philippe de LaCroix Associes Specialists in Exclusive Swiss Private Banking

Our clients
Philippe de LaCroix Associés deal with:
Royalty
Nobility
Entrepreneurs
Celebrities
Successful Individuals

Our Philosophy
At Philippe de LaCroix we believe;
Switzerland is Banker to the world.
Everyone needs two Bankers,
and one must be Swiss.
Money talks - wealth whispers.

Why Switzerland ?
Long established Economic & Political Stability
Unmatched Private Banking Professionalism developed over hundreds of years
Legally protected Confidential Banking
Accounts for 40% of all “Off-shore” banking
Tax haven status for non-residents

Client Confidentiality
Enshrined under Swiss Law:
Art. 47 of the Federal Law on Banks and Savings Banks
Art. 13 Swiss Constitution
Limits of Swiss Bank Client Confidentiality:
Clients privacy is not aboslute and no protection is afforded to the proceeds of criminality or certain proceedings

Fight against Money Laundering
According with the strict rules we can say Switzerland has the world’s most effective mechanism for dealing with money from criminal sources.
The Swiss Money Laundering Act (in force since 1998) obliges all financial intermediaries “apporteurs d’affairs” as well as banks to identify all clients and to establish the beneficial owners of the assets.
We must report any justified suspicion of money laundering to the authorities and freeze the suspicious assets.
For more than 20 years now, banks in Switzerland have observed a "Due Diligence Agreement" which contains the "know your customer" rules. The Due Diligence Agreement was a key point of reference when the Money Laundering Law is being drawn up.
Further rules and regulations against money laundering are laid down in the Swiss Criminal Code and the Federal Banking Commission guidelines of 26 March 1998.

Our Process
Preliminary free assessment of needs.
Detailed client profiling and assessment.
Anonymous submission to various Private Bankers.
Negotiation with Bankers to produce Banking proposals.
Discussion and advice on proposals received and selection.
Agreement and implementation of necessary Legal structures.
(Where required) “Distance Handling” facility of the account.
(Where required) “Three Year Report” service.

Distance Handling
For those clients who wish to manage their accounts in Switzerland through ourselves rather than personally.
Clients choose this service for a variety of personal and/or business reasons, or because of concerns that confidentiality may become compromised at their end.

Frequently Asked Questions (1)
Is there a minimum sum required to open an account in Switzerland?
The answer is no, but the number of Banks who will be interested may be restricted because a great number of Banks do operate a policy of a "de minimis" figure. However the main benefit of a larger sum is not only opening up the choice of interested Bankers, but also the potential performance of any investment, which will be enhanced through a greater spread of opportunities than is possible with a smaller sum.

Is there any risk particularly associated with dealing with private banks in Switzerland?
No. Banking in Switzerland is very strictly regulated; for example, a Bank failure is a matter of criminal culpability under Swiss law. That is part of the reason for the stability and reputation of the Swiss Banking system. Indeed it is in the smaller boutique banks are often the ones where your affairs will receive the most personal level of service and where the bankers have a personal liability for the affairs of their Bank. Of course we are using the term "small" as a relative term; even these small boutique banks will have portfolios of many hundreds of millions.

Is an account in Switzerland subject to taxation in a client's own tax jurisdiction?
We cannot advise you about tax liabilities in your own tax jurisdiction, however we can confirm that -if our advice is followed- then under current legislation the income from any account you open through us will not be subject to withholding tax at source.

Philippe de LaCroix Associés Specialistes de Banques Privées Suisses Stockerhof Dreikoenigstrasse 31 A, 8002 Zurich, Switzerland
Tel: 0041 (0)44 208 3170 Fax: 0041 (0)44 208 3500 email: [email_address]

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Philippe de LaCroix Associes - Specialists in Exclusive Swiss Private Banking

by HYR on Nov 14, 2007

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