Washington – Saba:
NBC News revealed in a special report on Saturday that many wealthy Americans are opening bank accounts in Switzerland, fearing the risks they may face in the United States.
The same website indicated that others are acting politically, due to what they see as a decline in the rule of law in the United States, to open accounts in Swiss banks under the Trump administration. This is part of a campaign to "de-Americanize" their investment portfolios, according to investors and banks.
Swiss banks indicated that they have witnessed an increase in interest and transactions from high-net-worth Americans opening investment accounts in recent months, according to the report.
“This comes in waves,” says Pierre Gabris, CEO of Alpen Partners International, a Swiss financial advisory firm. “When former President Barack Obama was elected, we saw a big wave. Then came the COVID-19 pandemic as another wave… and now the US tariffs are causing a new wave.”
Gabris explained that “different clients’ motivations for opening bank accounts vary. Many want to diversify their investments away from the dollar, which they believe will weaken further under the weight of high US debt. Switzerland’s neutral politics, stable economy, strong currency, and reliable legal system are attractive factors.”
He added, “Others are driven by politics, and what they see as a decline in the rule of law in the US under the Trump administration. Still others are opening Swiss accounts to purchase physical gold in Switzerland, which is known for its gold storage and refineries.”
He continued, "There are many who are also seeking residency or second citizenship in Europe and wish to purchase real estate," considering it an "alternative plan."
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