Why a foreign account?
The banking world has changed fundamentally over the past decade. Domestic accounts are increasingly subject to restrictions, reporting obligations and limited currency flexibility. For entrepreneurs, location-independent professionals and internationally active companies, an international banking strategy is no longer a luxury — it is basic operating infrastructure.
A foreign account is not about secrecy. It is about access, resilience and optionality: the ability to operate across currencies, time zones and legal systems without depending on a single banking relationship in a single country. A sole domestic account is a single point of failure.
SWICOR handles the entire process: we select the bank that matches your profile, prepare your documents and source-of-funds file, deal with the institution directly and stay on it until e-banking, card and IBAN are confirmed. You typically invest two to three hours of your time — we do the rest.
Not everything in one country
Holding assets across several jurisdictions reduces exposure to political risk, currency devaluation and the stability of a single banking system.
Multi-currency at interbank rates
Hold, receive and send in CHF, EUR, USD, GBP and local currencies — at interbank rates rather than retail spreads. A material cost factor for businesses with international flows.
A second payment infrastructure
A single house bank is a single point of failure. A second account in another jurisdiction keeps you operating if the first is frozen or restricted.
Remote instead of travel
In most of our jurisdictions opening is fully remote. Where presence or a video call is required, we say so upfront — not midway through the process.
CRS and Non-CRS compared
CRS has largely standardised information exchange. Non-CRS jurisdictions offer additional discretion to clients legally entitled to it — including a written compliance briefing.
Our banking locations at a glance
We maintain active banking relationships across more than ten jurisdictions — from Swiss private banks to fast-opening accounts in emerging markets. All listed jurisdictions are currently active; Non-CRS status is highlighted where applicable.
Swiss Bank Account
Switzerland stands for political stability, a hard currency and one of the most experienced private banking systems in the world.
Georgian Bank Account
Georgia has become one of the most sought-after banking locations in Eurasia: modern digital banks, multi-currency accounts and account opening without travel.
US Bank Account
A US account opens access to the world's largest payment market: ACH, wire and payouts from Stripe, Amazon or PayPal directly in USD.
Armenian Bank Account
Armenia has a solid, well-capitalised banking system with multi-currency accounts in USD, EUR and AMD — an underrated alternative for diversification in the Caucasus.
Kazakh Bank Account
Kazakhstan has Central Asia's largest financial sector and, with the AIFC, its own financial centre under English law.
Kyrgyz Bank Account
Kyrgyzstan is one of the most cost-effective banking locations in the region — with straightforward opening and multi-currency accounts in USD, EUR and KGS.
Cambodian Bank Account
Cambodia is one of the few countries outside the automatic exchange of information (CRS).
Cape Verde Bank Account
Cape Verde combines an escudo pegged to the euro with a banking system outside CRS — a rare combination of currency stability and discretion.
Dominican Bank Account
The Dominican Republic offers USD accounts at large, established Caribbean banks and does not participate in CRS — interesting for clients with ties to Latin America.
Uzbek Bank Account
Uzbekistan has modernised its banking sector significantly in recent years.
What is Non-CRS?
CRS (Common Reporting Standard) is the international automatic exchange of information between tax authorities. Countries outside the system do not automatically report account data to your country of residence. That makes such an account neither illegal nor anonymous — it simply shifts the responsibility entirely to you.
Your declaration duties at home remain unchanged in every case. We open Non-CRS accounts only for clients who meet their tax obligations properly, and we provide a written compliance briefing for every Non-CRS jurisdiction setting out the specific reporting and documentation duties.
The process
Consultation
We clarify the purpose, currencies and intended use of the account — private, corporate or both. You then know which jurisdictions are realistic for your profile at all.
Choose jurisdiction
A recommendation based on residency, corporate structure and compliance profile. We name the specific bank, the likelihood of success and the expected timeline.
Prepare documents
We assemble the complete KYC package: identification, proof of address, source of funds and a covering letter that makes your business model legible to the bank.
Submission & follow-up
We file directly with the bank and run all communication: follow-up questions, additional documents and, where needed, escalation to the right level.
Activation
The mandate ends only once e-banking, card and IBAN are confirmed and the first transaction has cleared. On request we also support the ongoing banking relationship.
Frequently asked questions
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