While I do understand the “white glove” nature of private Swiss banking, how does this equate to wealth protection?
It doesn’t, except of course in the old fashioned sense of what is hidden is protected from litigious or divorce claims. Times have changed, and banks are now more open. However, Switzerland is one of the best places for banking. It’s their business and they are good at it. Offshore entities abound, not just in the Caribbean. The UK Channel Islands and the Isle of Man do huge offshore business, and have been serving the Captive Insurance market for a long time. However, islands don’t always attract quite the same caliber of personnel (IMHO). Little known to many, London is one of the biggest offshore centers, and the financial hub of Europe. Luxembourg is also very popular, and provided many services.
However, the only advantage of a foreign account is if it is in local currency, and you travel or make foreign purchases often. There are many investment restrictions and tax implications of having investments abroad, and you may be better served by taking professional advise. Things are not quite as untethered as you might think.
