How did you come across this bank?
And why are Swiss banks in the Caribbean?
(Stoney Ground, Kingstown
St. Vincent and the Grenadines, West Indies (W.I.))
I just noticed that to
what does all this mean
About UTS | The Financial Center | Swiss Independence
Switzerland, the worlds Financial Center
Most believe that banking in Switzerland is something only for the rich and famous, the truth is Swiss Banks have clients from foreign residents all over the world- especially the west. It's surprising a vast number of Americans have accounts in Switzerland, professional business persons, athletes, movies stars, musicians, computer engineers, civil servants, small business owners and retirees. The main reason is privacy. The Swiss have some of the strictest regulations when it comes to privacy. If you're looking for a place to protect your durable wealth, Switzerland is for you.
The main reason for Swiss Banking is to keep one's financial status private, protecting personal assets along with receiving a higher return. American law agencies, judicial system and private citizens can gain access to most types of financial information. Under Swiss law, neither the officers nor the employees of financial institutes are allowed to reveal any information regarding individuals to anyone, including the Swiss government. The exception is upon proven criminal activity. Banking confidentiality is the banker's professional obligation to keep details of all financial affairs private. Confidentiality is a matter of both contractual agreement and public duty. Under Swiss law, violating this professional obligation is subject to criminal prosecution. Article 47 of the Swiss Banking Act, provides criminal sanctions against anyone who divulges confidential information entrusted to them, or of which they have become aware in their capacity as an officer or employee of a financial institution, and against anyone who tries to induce others to violate professional confidentiality Swiss Banks have earned and are recognized as providing sophisticated and discreet financial services. Switzerland has a wide range of financial institutions to serve all clients needs from large banks to small financial institutions. Some institutions specialize in a few services for a few special clients to providing a wide range of products serving a vast number of clients. The term "private banking" is used to encompass all the services provided to a client many which are "high net-worth individuals", although some institutes will refuse any account of less than $1million other, are willing to except lower account balances.
Switzerland, the Country and its People
The Swiss believe that the wealth and the stability of their prosperous country is due to their hard work. Who can blame them? During the 19th century, Switzerland was one of the poorest countries in Western Europe, a land of meager farming and no natural resources. Today, Switzerland has the lowest inflation and unemployment rates of all industrialized countries, the highest income per capita. The crime rate is the lowest in the world. The last time Switzerland was involved in a war with another country was in the 15th century.
Swiss success has become a standard for small countries that do well: Lebanon was once called "The Switzerland of the Middle East" and Chile "The Switzerland of South America". Measured by per capita, the Swiss are the richest people on Earth. In Switzerland, you won't notice much of this wealth displayed. Apart from the highest number of Rolls Royce and Ferraris per capita in the world, people make it a virtue to keep wealth discreet.
Many rich and famous people live in Switzerland and when they are recognized on the street, people smile and look the other way. No Swiss would dare bother somebody to whom they had not been introduced. Laws supporting discretion and respect of privacy have long been in force.
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About United Trust of Switzerland, SA
United Trust of Switzerland SA is a private Swiss trust company established in 1931. Millennium Bank is a wholly owned subsidiary of United Trust of Switzerland SA. Due to a long-established tradition of providing absolute confidentiality for its premier private clients and its unwavering commitment as a private trust, United Trust of Switzerland does not offer a public website.
Privacy and confidentiality are the ultimate trademarks of established Swiss trust companies. Located at the heart of Geneva’s financial district, United Trust of Switzerland is a globally recognized leader in upholding these values and principles.
We are confident that our readers will understand the strict obligation that United Trust of Switzerland must exercise on a daily basis to maintain absolute privacy. You can be reassured that we understand your right to access the facts and data you need to make an informed decision. However, until our premier private clients have complete trust in the security of public websites, United Trust of Switzerland’s policy not to maintain a public website will remain in place.
