High-net-worth Americans are moving money to Swiss banks due to US uncertainty

From Yahoo Finance: 2025-04-18 15:30:00

Wealthy Americans are moving their money to Swiss banks due to uncertainty in the US. Interest in opening banking and investment accounts has increased, reminiscent of the 2007-2008 financial crisis. Currency diversification is a common theme, with the US dollar weakening relative to other major currencies. Many Americans are diversifying their portfolios by moving assets to Switzerland, driven by fear and international backgrounds. US citizens in Switzerland can open accounts, but it requires navigating complex processes to comply with US regulations. Swiss banks have become more comfortable serving US customers after dealing with tax issues.

Read more: Why high-net-worth Americans are banking in Switzerland