Detailed Notes on Bank Opening Time

Now a days, people want to open a numbered bank account with a specification attached to it that IRS should not disclose the account holder's name. Till few years bank it was simple for citizens of different countries to open a numbered bank account in Swiss bank without disclosing their details. However, in year 2004 it became difficult for Switzerland to entertain such requests.You may want to check out Natwest Tideswell for more.

 

 

 

 

 

 

 

 

 

 

 

 

 

This happened due to adoption of new rules and regulations around opening a bank account in Switzerland. The important thing to be noticed here is that, this decision was not a willful decision. Switzerland was forced to start new and strict rules and regulations around this. It seemed at that point that these new regulations around money laundering will end the era of anonymous banking. At that time, all bank account holders of Swiss bank were obliged to disclose their identities attached to their accounts.

 

 

 

 

 

 

 

 

 

 

 

 

 

The concept has been twisted a bit as now it is still possible for individuals to get numbered accounts in other countries however with a clause of disclosing their identities. The purpose of opening such accounts was to deposit money in such a fashion that a person is not required to pay tax on that money, however with new money laundering regulations, this purpose seems to fade out.