Swiss banks and the government are facing criticism from the Swiss Abroad Council over alleged discriminatory treatment of expatriates in the United States and Germany. At its biannual meeting in Bern on Saturday, the assembly unanimously adopted a resolution calling for proposals allowing expatriates to keep their taxed assets in Swiss banks. The move is in response to growing complaints, notably by Swiss expats in the US who were forced to close their accounts at short notice amid pressure by Washington to crack down on tax dodgers. For expats living in neighbouring Germany, Swiss banks imposed hefty fees or required a minimum investment, apparently to cover high administrative costs to fulfill legal requirements by the government. The Swiss Abroad Council said the situation for many expats was “unacceptable” and rejected “any form of discrimination based on the country of residence or in the form of high minimum capital investment”. In his opening address to ...
