Looking for an alternative way to hold and diversify your savings outside the European Union? Switzerland and Oman both offer established banking systems and opportunities for international clients looking to open a bank or savings account abroad.
Given the current situation in Europe, where Europeans’ savings are at risk, you have the opportunity to open an account in Switzerland or Oman.
The fact that your savings are safe with a Swiss bank is down to the strong economy and strict regulatory safeguards.
Swiss banks traditionally maintain high capital standards and strong liquidity positions compared with many other countries. The country enjoys sustained political and economic stability, which reduces the risk of major macroeconomic shocks.
A savings account with a Swiss bank is extremely well protected, as ordinary savings deposits are fully covered by Swiss statutory deposit protection.
Swiss savings accounts are usually denominated in CHF. If you convert your euros into Swiss francs, you will be subject to currency fluctuations. Although the franc has historically been a strong ‘safe haven’, its value against the euro may rise or fall.
With a fall in the euro on the cards, given the dire economic situation in Europe, the Swiss franc is the ultimate solution and significant gains are guaranteed in the near future.
As a bank agent, we can introduce you to a Swiss bank in Zurich, after which your account can be opened within 10 days.
Swiss banks naturally provide internet access and credit cards.
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Geert de Meester, Consultant
[email protected]
Telephone: +32 492 49 22 45
Below is some information about Oman.
A savings account with a bank in Oman is generally very safe. The banking sector in the Sultanate of Oman is stable, strictly regulated, and the major credit rating agencies rate the country as having a safe investment-grade status.
Oman’s economy has grown very strongly in recent years.
Leading credit rating agencies such as S&P Global Ratings and Fitch Ratings have assigned Oman a credit rating of BBB- (with a stable outlook). This means that the government and the banks are considered to be financially sound and reliable.
Omani banks have strong capital buffers and benefit from stable domestic economic conditions. According to analysts at Fitch and Moody’s, the banking sector is well-positioned to withstand any regional geopolitical tensions in the Middle East.
A standard savings account with a bank in Oman pays quarterly interest of 1 per cent, i.e. 4 per cent per annum, and no withholding tax is levied on this. The 4 per cent is net.
Yes, savers are unaware of this, but European banks invest the savings of European savers in the Middle East, amongst other places, pocket 4 per cent interest and pass on 1 to 1.5 per cent to the saver.
From now on, you can pocket the 4 per cent interest yourself.
As with Swiss banks, when you open a savings account, you also have internet access and the option of obtaining credit cards.
As a banking agent, we can introduce you to a bank in Oman, after which your account will be opened within 10 days.
[email protected]
[email protected]
Geert de Meester, Consultant
[email protected]
Contact by telephone: +32 492 49 22 45
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