Does anyone know if a Swiss normal bank account must be reported to the German tax office or is there a threshold amount before a German has to make such a disclosure? The USA has a $10,000 threshold..anything over $10,000 must be reported to the IRS.help Please!
Help me Please! Some years ago I purchased an annuity. Now it is ready to pay. I feel as though my insurance company is pushing me around. I was advised that they would only pay me in Krones from Norway. I paid for 30 years in American dollars, My payment schedule is in dollars.It was our intent that I receive American dollars. I have called several Swiss Lawyers, no help.What can I do? I have sent a polite letter of protest to the company asking for an explaination and what legal right they have to do this. HELP!
We should all know that we can reduce our income tax by contributing into a 3rd Pillar Pension and we can also use the 3rd Pillar as a pledge against our mortgage or to pay directly for our home. But what are the criteria for selecting the institution for your plan. MINIMISE WITHOLDING TAX. Most pension foundations will be based at the head office of the sponsoring company, in many cases this will be Zurich. A withdrawal on emigration (from Switzerland) is subject to tax in the Canton of the pension foundation, so choice of the foundation should be in the lowest taxed Canton. MAXIMISE CASH DEPOSIT RATE. In October 2011 the range of interest rates available to 3rd Pillar depositors was 2.375% - 1.50%. For those ultra conservative savers obviously the foundation should provide the highest interest rates. Please note that since the Swiss Central Bank has decided that the Swiss Franc should track the Euro, interest rates have fallen substantially. INVESTOR PROTECTION. Whilst the authorities provide for a CHF 100,000 depositor protection plan, the ability to spread your deposits across several banks allows for greater protection against individual failure of an institution. Those with accounts at one of the two biggest Swiss banks may be very alarmed about the need for previous and potentially future bail-outs and massive fraud. ABILITY TO TAX PLAN. For those expecting to take their pension in Switzerland, opening several 3rd Pillar accounts allows for staggered withdrawal at a time when tax payable would be at a minimum. DIVERSIFICATION OF INVESTMENT STRATEGY. Most Swiss institutions will only allow you to invest in their own funds. Many of these funds use the same managers and research teams for each fund. Usually the performance of one fund is indicative of performance of any other fund within the family, subject to greater exposure to equities. If you are disappointed in the performance of your funds your only option is to transfer your money to another institution, with a similar range of funds. If you wish to access some of the best managers this is difficult as they only accept institutional size deposits. Diversification over several different managers requires going through an independent. COSTS. Some foundation funds can charge up-to 3% entry fees, punitive administrative fees and, account management fees of up-to 1.4% can be charged, over the management fees of the individual funds. Selection of the foundation should be made to ensure value for the product. SERVICE. Being able to have direct access to the people regularly making the investment decisions on your behalf is an advantage when you wish to ensure that they fully understand your requirements. The ability to have all your 3rd pillar accounts with the same manager also provides for easier administration, change of strategy and development of relationship. DISCLOSURE: Steven J Cohen is regulated under the provisions of Swiss Financial Authority (FINMA) to act as an independent consultant on 3rd Pillar and vested 2nd Pillar pensions. (Moderator: the purpose of the disclaimer is to allow the reader to attach weight to any proposition or any potential conflict of interest) www.c-bm.biz/ifp skype: steven.j.cohen email: email@example.com Phone: +41(0)767536738
I can't believe it, but my neighbour has complained about my husband showering at 23.30 when he comes home from work. Said that the water running wakes them up and that it is "verboten" which I gather means not allowed, forbidden. Is he right? Is there a time that we aren't allowed to shower in the apartment. Now REALLY, only in Switzerland!!
A stupid thing happened to me while on vacation. I crossed the Canadian US border (with a Swiss Passport) and had to pay $6.00US for a 90 day visa. This was stapled into my passport. I suppposedly had to get that taken out at the airport (in Toronto) when I left the country. They didn't want to do it at check in, and sent me to US immigration, where they sent me away and said to get it taken out "at the gate". -which of course was wrong. At the gate they told me I should have had it done at Immigration!!!! Now I have this card still in my passport, and if I just "throw it away" :-) then I imagine I will have trouble when I try to reenter the country (US) at some time in the near future. What a hassle, I was in the States for a total of 30 minutes, just to get gas (petrol) because it was cheaper there!Does anyone know what I should do about this?ThanksCUsoon
Yesterday I received a very high banking bill from my meager Swiss Account. I have only used it twice in one year. Can anyone inform me if there is a regulatroy agency which supervises these banks so that I can make a complaint. There is nothing in my contract stating that I had to pay such a high "USE" fee. In fact I was assured by the banker that there were no fees. Can anyone recommend a consumer friendly bank? I live In Mulhouse and it is very easy to do my banking in Basel. I have a fixed retirment income from a private PENSION FUND:I am an EU resident from Ireland. firstname.lastname@example.org