Numbered account
A numbered account or a number Depot (general number relationship called) is a normal bank account or securities account in which the name of the bank customer is replaced by a number or a password. A number relationship is by no means anonymous and does not differ from a normal banking relationship in legal or tax terms. The only difference is that the owner is only known to a limited group of bank employees and the name of the customer does not appear on bank receipts such as bank statements etc. The identification process must still run completely.
The management of number relationships is subject to both international and national laws, in particular with regard to combating money laundering . To this end, the Council of Europe recommended as early as 1980 to incorporate identification requirements into national law. In Germany, numbered accounts are prohibited according to Section 154 AO .
Number relationships are equivalent to a normal banking relationship in all legal and tax matters. For example, when the banking relationship is opened, the identity of the owner or beneficial owner must be checked in accordance with the statutory guidelines. The statutory provisions relating to combating money laundering must also be complied with.
Switzerland and the myth of numbered accounts
In Switzerland, numbered accounts are subject to the same regulations as any other banking relationship. Accordingly, the provisions of the agreement on the professional rules on the duty of care of banks (CDB 08) “apply without restriction to accounts, booklets, custody accounts and safe deposit boxes under numbers or passwords according to Art. 9”. However, the opening of owner savings books is prohibited.
The assets in number relationships are subject to the usual tax obligations, such as "bank balances of any kind", in Switzerland to withholding tax or, for citizens from the EU who are not resident in Switzerland, to EU savings tax, income tax and wealth tax . The assets in number relationships are also subject to inheritance and divorce law as part of the total assets of a natural person.
history
Swiss numbered accounts have their roots in the economically and in terms of legal security uncertain times before the Second World War . They were not a specifically Swiss invention, as such accounts were common in Italy and Austria even before the First World War. In the legal uncertainty after the National Socialists came to power in Germany and later also in Austria as well as feared socialist governments in France, another level of communication was felt to be necessary. The Bergier Commission mentions: currency devaluation, political uncertainties, foreign exchange management, expropriations and war, plus Switzerland's international reputation, easy accessibility and the hard Swiss franc. Another reason was the informing activity of German spies, whereupon the Swiss Bank Corporation took measures in 1934 to restrict the group of people keeping secret. It was therefore not just a question of protecting Jewish refugees, but also protecting all customers from unpredictable laws.
swell
- ↑ Switzerland: Federal Act to Combat Money Laundering in the Financial Sector (Money Laundering Act, GwG)
- ↑ Austria: Federal Law on Banking (Banking Act –BWG) § 40 ff. ( Page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ↑ a b Switzerland: Agreement on the professional rules on the due diligence of banks (CDB 08) (PDF; 534 kB)
- ↑ Austria: FMA circular on the determination of identity ( Memento of the original of October 28, 2007 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Withholding Tax Ordinance (VStV) (PDF; 189 kB)
- ↑ Page no longer available , search in web archives: EU interest taxation , Federal Tax Administration
- ↑ Page no longer available , search in web archives: Guide to tax returns for natural persons , Federal Tax Administration
- ↑ Property tax ( memento of the original of September 26, 2009 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Swiss Civil Code, Inheritance Law
- ↑ Swiss Civil Code, Family Law
- ↑ Issue 7 Association for Financial History Switzerland and the Principality of Liechtenstein
