October 17, 2019 Harold Ellis 0Comment

There are many legends and lies about having an offshore bank account in Switzerland , as well as creating it, putting money in it, and using it.

To clear any doubt

It should be clarified that there is no moral or legal dilemma about making a decision about whether to open an offshore bank account in Switzerland or not. It is completely legal, not illegal or even alegal, that is, it meets all the requirements within the Spanish legislation as a Swiss.

In fact, the process is completely normal, in that it does not even have to be presented in the Central European country (everything depends on the type of bank), but from the Internet you can open that account and manage it from your own home. The best thing of all is that the State should not know at first, since for the Swiss it is very important the privacy of those accounts that the fact that taxes are paid.

The process

Of course, it goes without saying the two cases in which this process is illegal, and it is depending on the origin of the money (if its origin is an illegal business, see contraband of drugs, weapons, trafficking in white … etc) or if it is a money that has not paid taxes ( black money ).

In principle, the Swiss banks should not make your information public, unless a Spanish judge asks a Swiss judge to grant him access to that data and the second one to order it or similar elements, always claiming that the money is originated by a element of illegality.

The accounts

Then, when the treasury picks up the Spanish accounts in Switzerland being the case that it is money that have not paid the corresponding taxes, the Treasury gives two options: the first, that those Spaniards take that money back to Spain to pay the taxes   that would correspond to them, but without any fines. The other option would be to ignore it.

It has two aspects, one, that the Treasury is the one that accesses the accounts, and collects the money from the corresponding taxes, plus fines   and other additions. The problem with this case is that the   Justice is very slow and this process takes a very important time.

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