Question 1

Can I open a Swiss bank account as a German or Austrian citizen?

Accepted Answer

Yes. What matters to a Swiss bank is not nationality but your profile, residency and source of funds. Institutions ask for higher minimum deposits and stricter review when you live abroad — we clarify acceptance with the bank before filing.

Question 2

Can a foreign bank account be opened fully remotely?

Accepted Answer

In Georgia and Cambodia yes — within 2 to 5 business days, no travel, via certified power of attorney and video identification. Some Swiss banks require a personal meeting; we tell you which ones beforehand.

Question 3

What does opening a bank account abroad cost?

Accepted Answer

At SWICOR, fixed fees from CHF 690 for a private account; corporate accounts are higher depending on jurisdiction. The fee is agreed in writing before you commission us — the bank's own charges and minimum deposits are separate.

Question 4

What is the difference between CRS and non-CRS countries?

Accepted Answer

CRS countries report balances and income automatically to your country of residence, non-CRS countries do not. Your declaration duty at home remains unchanged either way — a non-CRS account is not a concealment tool.

Question 5

Is a foreign account legal, and must I declare it?

Accepted Answer

A foreign account is entirely legal. As a taxpayer in Germany, Austria or Switzerland you declare the income and, depending on the country, the account itself. We only build structures that can be declared.

Question 6

Which documents do I need to open an account?

Accepted Answer

Passport, proof of address, proof of source of funds and, depending on the bank, a CV or business description. You receive a checklist tailored to the chosen bank.

Question 7

How do I set up a company abroad — and what does it cost?

Accepted Answer

Name check, articles, notary, registration, tax number, bank account: fixed fees from CHF 490 plus official charges. The proposal states total cost and timeline before you pay anything.

Question 8

Which country is best for tax when forming a company?

Accepted Answer

There is no universally best country — it depends on your business model, client base and residency. Georgia is strong for IT services, a US LLC for online business, a Swiss AG for reputation and banking, an English Ltd. for EU trade.

Question 9

Can I form a foreign company without living there?

Accepted Answer

Formally yes. What decides taxation is the place of effective management: a company run from your country of residence is taxable there, whatever the register says. That is why we look at residency first and structure second.

Question 10

How long does a company formation take?

Accepted Answer

Georgian LLC 3–5 business days, US LLC 1–3 days, English Ltd. 1 day, Swiss AG/GmbH 2–3 weeks including notary and capital payment. Banking takes additional time in each case.

Question 11

Do I have to travel for the formation?

Accepted Answer

Usually not. We incorporate via certified and apostilled power of attorney; only a few banks and notaries require presence. Your case is specified in the proposal.

Question 12

What is the Georgian Virtual Zone and who qualifies?

Accepted Answer

A status for IT and software companies with 0% corporate tax on foreign revenue. It requires demonstrable IT activity and local substance, and takes around ten days after incorporation.

Question 13

Is tax optimisation legal?

Accepted Answer

Yes — as long as the structure has genuine economic substance, withstands arm's-length scrutiny and is fully declared. Tax evasion is a criminal offence and we decline such mandates.

Question 14

How can an entrepreneur legally reduce tax?

Accepted Answer

Through the combination of legal form, jurisdiction, profit usage and residency. A realistic range for well-built structures is 0–15% effective instead of 30–45%. The initial analysis shows what applies to you — no blanket promises.

Question 15

What are CFC rules?

Accepted Answer

Rules that attribute the profits of low-taxed foreign companies to the shareholder in their country of residence, even without distribution. They typically bite on passive income and missing substance. Every structure we build is tested against them.

Question 16

What is exit taxation and when does it apply?

Accepted Answer

On leaving Germany or Austria, shares in corporations can be taxed as if sold. Sequence and timing determine the amount — which is why residency planning always precedes restructuring.

Question 17

What does substance mean and why does it matter?

Accepted Answer

Office, staff, decisions and contracts must genuinely sit at the company's seat. Without substance the structure is looked through on audit and taxed at home. We build substance in from the start.

Question 18

Am I at risk of double taxation?

Accepted Answer

Not when double tax treaties are applied correctly. Problems arise when seat and management diverge or deadlines are missed — exactly what our review targets.

Question 19

Do I have to emigrate to save tax?

Accepted Answer

For the largest effects yes: your centre of life determines your tax liability. Without a change of residency, optimisation is limited to legal form, profit usage and holding structure.

Question 20

How long does relocating residency take?

Accepted Answer

Paraguay from 30 days, Georgia and Panama 4–8 weeks, Portugal and Spain 3–6 months. Registering is the easy part — documenting your centre of life is what counts.

Question 21

How many days may I still spend in my old country?

Accepted Answer

There is no safe blanket figure: beyond the 183-day rule, authorities look at housing, family, contracts and economic interests. We build an evidence file that holds up to a review five years later.

Question 22

Which country suits my tax residency?

Accepted Answer

Depending on profile: Paraguay for minimal presence, Dubai for entrepreneurs who need banking, Portugal and Spain for families with EU ties, Georgia for digital freelancers. Selection follows your life, not the tax rate alone.

Question 23

What happens to my health insurance and pension?

Accepted Answer

Neither carries over automatically. Both are part of our residency planning — international health cover, pension transfer and social security status are settled before departure.

Question 24

Can I obtain a second passport or citizenship?

Accepted Answer

Through naturalisation after residency or citizenship-by-investment programmes. We assess requirements, timelines, cost and the passport's travel access — and say so when a programme makes no sense for you.

Question 25

How does working with SWICOR work?

Accepted Answer

Free initial consultation (30 minutes), written proposal with fixed fee and timeline, full implementation by our team, then ongoing support for domicile, accounting and annual compliance.

Question 26

What does the initial consultation cost?

Accepted Answer

Nothing. 30 minutes, no obligation, personal — with a first assessment of which structure fits your situation and what it costs.

Question 27

Are the prices really fixed?

Accepted Answer

Yes. The fee in the proposal is the fee for the work. Official charges, notary costs and minimum deposits are itemised separately so you know the total before commissioning us.

Question 28

How discreet is SWICOR?

Accepted Answer

Every mandate is handled under Swiss data protection law (FADP) and the GDPR, documents move encrypted, and we never name clients — not even as references.

Question 29

Do you work with my existing tax adviser?

Accepted Answer

Yes, explicitly. We handle the international structure and align it with your adviser or lawyer at home. On request we introduce specialists from our network.

Question 30

Which mandates does SWICOR decline?

Accepted Answer

Anything aimed at concealment, unclear source of funds or undeclared assets. We are subject to AML/KYC duties and work only with legal, documentable structures.

Bank accounts.
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Bank Account Opening

Company Formation Abroad

Tax Optimisation for Private Clients and Entrepreneurs

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