The Swiss voice in the world since 1935
Top stories
Stay in touch with Switzerland

Switzerland shares details of 3.1 million bank accounts held by foreigners

UBS
Data held by around 7,500 Swiss financial institutions like banks, trusts, and insurers were used to compile the information. © Keystone / Alessandro Della Valle

In its second-ever data sharing exercise as part of a global automatic exchange of information (AEOI) treaty, Switzerland shared financial account information with 63 partner countries.  

On Monday, the Swiss Federal Tax Authority revealed that it had provided details of around 3.1 million bank accounts held by foreigners (or those with a fiscal residence abroad) to their countries of their origin or residence. In return, it received information on banking details of around 2.4 million accounts held by Swiss citizens/residents in 75 partner countriesExternal link.  

The largest exchange of data (in both directions) was with Germany, the same as in 2018. The automatic exchange deal became effective in 2017 and the first exchange of data took place the following year.  

This time Switzerland received financial data from 75 countries but only reciprocated with 63. This is because 12 did not either meet data security and confidentiality requirements (Belize, Bulgaria, Costa Rica, Curaçao, Montserrat, Romania, Saint Vincent and the Grenadines, Cyprus) or chose not to receive Swiss data (Bermuda, British Virgin Islands, Cayman Islands, Turks and Caicos Islands). 

Swiss authorities expect that Switzerland’s network of AEOI countries will be expanded to 90 next year. 

More


Popular Stories

Most Discussed

News

The federal government is working on a new Swiss identity card with a chip

More

New Swiss biometric ID card planned for 2026

This content was published on A biometric Swiss identity card (ID) is expected to be available in Switzerland by the end of 2026. The Federal Office of Police and its federal and cantonal partners are working on a new ID card that features a chip.

Read more: New Swiss biometric ID card planned for 2026
Opportunities for social mobility remain high in Switzerland

More

Swiss continue to enjoy high social mobility, study shows

This content was published on Opportunities for upward social mobility have remained intact in Switzerland since the 1980s. Social mobility is exceptionally high by international comparison, a study shows.

Read more: Swiss continue to enjoy high social mobility, study shows
UBS launches another billion share buyback programme

More

UBS launches buyback scheme for up to $2 billion in shares

This content was published on UBS is starting a share buyback programme for up to $2 billion (CHF1.6 billion) in shares, in line with a plan approved at its annual general meeting (AGM) in April, the Swiss bank said on Monday.

Read more: UBS launches buyback scheme for up to $2 billion in shares

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here . Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR