Switzerland is known for decades as a tax heaven and offshore banking destination for most of the rich and famous people of the world. You must have heard of “Swiss Banks”. These all are located in Switzerland. At almost $40,000, Switzerland has one of the highest GDPs in the world, proving that its citizens are some of the highest payed and most prosperous.  Of course in a country whose economy is built around a reputation as one of the premier banking capitals of the world, this should come as no surprise. Swiss Franc is the currency of Switzerland which has exchange rate of 0.934 cents for 1 USD. The financial sector of Zurich makes up nearly 70% of the entire countries economy, with offshore banking at the core of that number. Backed by ironclad secrecy and privacy laws, Switzerland has maintained a neutral political position and a powerful spot on the world offshore scene. If you are a non EU resident, then there are many reasons why you would want to consider opening a Swiss bank account.