Would it be possible to get an address with a mail service in order to open a bank account? I ask because I see how difficult of a time others appear to be having in opening a bank account *before* living in CH.
For example:
1. Get some type of address / mail service box that looks like regular mailbox.
2. Use that address as application address for CH bank account.
Is that legal/ethical/allowed? If so, any mail services like this that you can recommend?
I doubt it. Not that a post address may be possible (no idea on that these days), but usually banks want to see either your Swiss permit or the paper that says the permit is being processed at your commune/gemeinde before you’d be allowed to open an account. As an American it won’t be possible since you’ll need to sign a W-9 form to allow the bank to send the account details on to the IRS. You’ll have to wait until you arrive to do any banking here.
Anyway, most banks still will want to see either a permit or a work contract or at least something that you will be legally staying in Switzerland (unless you have pots of money)
Yes, but also American so carries the taint with him as far as the banks are concerned. No way would they open an account without him being physically and legally present in the country. Not unless he’s got gazillions in loot. And HerrDoktor, don’t try and hide it from the banks. That’ll be the quickest way to get your account closed.
A bank account in Switzerland, or anywhere abroad, tosses you into the FBAR/FATCA reporting requirements, even while still resident in the US. Sure, you will face those requirements once you take up residency abroad, but is that something you want to get stuck with now?
Forgive me if I've missed updates, but have you found a job in Switzerland yet? Without a definitive move date, setting up finances here might be more hassle than it is worth, could just end up complicating your life.
Once you are here, simply go to CS or UBS (and IIRC PF), preferably a main branch. Ask to speak to someone from the American desk (or whatever each calls that department) as not all customer-facing employees will be au courant. If you fill out the requisite reporting forms, have proof of residency, etc., these still take American customers. You'll soon have your account.
Not to minimise the financial hassle of being an American here (taxes, pensions, and investing can indeed be problematic), but as long as you are legit, fill out the necessary documentation, and go to one of the banks set up for dealing with Americans opening a simple account isn't that much of a problem. The folks who have had problems seem to be those who cannot provide the needed documentation, or who try to use one of the banks that have decided to forgo US relationships.
YMMV, but before getting too far down the road perhaps think about what real advantages you might have in setting up an account in advance versus the downside.
Still looking -- on the days I do look, I'm trying to apply for at least five positions a day that is a fit for my field.
MC and MF, thank you for reminding me about the pain of FBAR/FATCA. I may as well save that madness for when I actually arrive in CH.
As I want to do everything by the book, I'm *not* going to throw caution to the wind and do anything that will jeopardize my time in CH when I finally am fortunate enough to make it over.
I do understand that my Irish passport will not save me from the bullshit that my US citizenship creates.
I'll just sit tight for now and focus on the jobs aspect. Thanks again!
Do make it clear on your CV that you have an EU nationality, otherwise it might just go straight into the waste bin if they have a lot of other EU candidates to choose from.
I even go so far as to mention I have active passports as a way to discreetly tell the employer -- "Hey, there will be a minimum of paperwork for you if you hire me." Definitely trying to maximize my chances here!