Wealthy Americans move assets to Swiss banks

Wealthy Americans are increasingly stashing their money in Switzerland, in what banks call the “de-Americanization” of their portfolios amid rising US debt, political uncertainty, and a weakening dollar.

Swiss banks report a surge in account openings from high-net-worth Americans. 

Pierre Gabris, CEO of Alpen Partners, says new waves of interest often follow major events like former President Barack Obama’s election, COVID-19, and the recent tariff tensions. 

Investors see Switzerland as a safe haven because of its neutral politics, stable economy, strong franc, and gold storage facilities.

Many are also seeking European property, residency, or even second citizenship as a backup plan, adds Gabris. He says there is a growing realization among Americans to diversify their portfolios, which are 100% in US dollars.

Opening a Swiss account is legal but must comply with strict US tax disclosure laws. While major US banks can’t directly open Swiss accounts, many work with SEC-registered firms like Pictet and Vontobel SFA.

Once viewed as a way to evade taxes, today’s Swiss banking system is fully transparent and regulated.