Banking in Switzerland vs. Singapore: Where Serious Money Still Belongs
Since 2006, I’ve opened bank accounts across the globe—for myself, for clients, sometimes just to test the waters. I’ve sat in boardrooms in Zurich, filled out forms under palm trees in the Bahamas, faced down bureaucracy in Hong Kong, and more recently, helped clients open accounts in Serbia, Tbilisi, and even Zanzibar.
There’s no shortage of places to park money. Some are easy. Some are under the radar. Some are even exotic or novel.
But here’s the truth:
When it comes to serious capital—seven, eight, or nine figures—almost every HNWI ends up in one of two places: Switzerland or Singapore.
That doesn’t mean there aren’t other options. The Gulf states, Caribbean jurisdictions, or even Latin America can work in certain cases. But if you’re a European high-net-worth individual—and by that I mean anywhere from the EU to the UK—and you want stability, privacy, and elite banking infrastructure, these two countries are where the real money goes.
Because in 2025, banking abroad is no longer a luxury. It’s survival.
Why Bank Abroad at All?
Let’s not sugarcoat it. Western governments are broke, panicking, and increasingly hostile to the wealthy. The signs are everywhere:
Talk of wealth taxes and asset registers in Germany, France, and the UK
Central bank digital currencies (CBDCs) threatening transactional privacy
Automatic exchange of information under CRS, DAC8, and the OECD CARF framework
Banks acting more like surveillance arms than service providers
Inflation, devaluation, and reckless fiscal policy from Frankfurt to Westminster
Meanwhile, you’re still expected to leave your money in a European bank—denominated in a weakening euro or pound—and hope they don’t touch it?
No thanks.
Smart money diversifies. Smart money internationalizes. Smart money moves first. And then you can move too.
The Illusion of “Easy Offshore Accounts”
You’ve probably seen the ads:
“Open a bank account in Georgia in 24 hours!”
“Serbia: the non-CRS loophole!”
“Park your USD in Zanzibar!”
I’ve been to all those places. And yes, it’s often true—you can open accounts there with minimal documents, little fuss, and no automatic reporting.
But let me ask you this:
Would you park €5 million in Tbilisi?
Would you trust the Serbian legal system to protect your assets?
Would you bet your family’s financial future on Zanzibar?
These places are fine for operational accounts, emergency funds, or crypto offramps. But when it comes to preserving serious wealth in uncertain times, there’s no substitute for real banking states with rule of law, global credibility, and institutional memory.
That’s why the conversation inevitably circles back to Switzerland and Singapore.
Switzerland: The Timeless Fortress
My first serious banking experience was in Zurich. No sales pitch. No brochures. Just quiet competence, discreet service, and an understanding that wealth isn’t something to show off—it’s something to protect.
Even in the post-CRS world, Switzerland remains a sanctuary for wealth. Not because of secrecy, but because of:
Rock-solid political neutrality
A strong, stable currency (CHF)
Multi-currency account options (CHF, USD, GBP, SGD, NOK, etc.)
Outstanding infrastructure for trusts, family offices, and asset protection
A global reputation that makes wires, investments, and transactions easier
🔒 Minimum Deposit & Entry Points
Not all Swiss banks are the same—and not all require millions.
Some banks will onboard foreign clients from CHF 50,000–250,000, though service is basic.
For proper private banking, expect to deposit at least CHF 500,000.
Top-tier names like Pictet, Lombard Odier, and Julius Baer often set entry points at CHF 2–5 million and up.
There is no public application form. You don’t “apply”—you’re introduced. And you don’t get access by Googling—you get it by knowing who to call.
Singapore: The Asian Vault
Singapore has become the banking capital of Asia, and increasingly the world. I’ve walked into banks there that felt like surgical suites: calm, quiet, perfectly organized.
This isn’t a lifestyle destination like Dubai. This is a hyper-efficient, globally respected financial machine, and its banks have become the new favorite for European capital looking for a non-Western safe haven.
Why?
Strict but sensible regulation from the MAS
Excellent currency stability (SGD)
Asian arms of Swiss private banks
True geopolitical diversification out of the EU/UK/US axis
No cultural hostility toward wealth
🔒 Minimum Deposit & Residency Considerations
Singapore banks are more flexible than most people assume—but also stricter than the internet claims.
Entry-level wealth management services usually start at around SGD 200,000–300,000 (~€150,000–200,000)
For full private banking and relationship management, SGD 1 million+ (~€700,000) is standard
Basic multi-currency accounts for business or personal use may be possible from SGD 50,000
⚠️ Important: Singapore banks generally prefer clients who are not EU tax residents.
If you live full-time in Germany, France, or the UK, you may face tougher compliance screening or rejection unless you have Asian ties or business links.
Recommended banks include:
DBS Treasures Private Client
UOB Private Bank
OCBC Premier Banking
Credit Suisse Singapore
Julius Baer Singapore
Switzerland or Singapore? Why Not Both?
They’re different. But complementary.
Switzerland offers a conservative, Europe-adjacent safe zone for long-term capital.
Singapore offers geopolitical diversification, modern tech, and exposure to the Asian century.
If your wealth allows it, diversify between the two. You gain redundancy, currency options, and institutional diversification. And you gain freedom—real freedom.
Final Thoughts: Plan While You Still Can
This isn’t a sales pitch for “offshore secrets” or tax tricks. Those days are gone.
This is about serious wealth strategy in a world where governments are becoming erratic, currencies unstable, and financial surveillance near total.
If you’re still sitting on large sums in a European bank, denominated in EUR or GBP, reported through every channel, you are exposed.
I can help you change that.
I’ve helped dozens of clients structure accounts in Switzerland and Singapore. Not just open accounts—but do it strategically, legally, and intelligently, often as part of a broader internationalization plan.
When the next crisis hits—and it will—you’ll be glad your money isn’t sitting where the storm started.
🛡️ Protect your capital. Preserve your options. Internationalize your life.
