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Economy and Banking Sector of Switzerland

Switzerland
Location
Central Europe
EU Status
not a member

Switzerland is a stable, peaceful and prosperous country, with modern market economy having low unemployment and highly skilled labor force.

Currency
CHF (Swiss franc)
Population  (2017)
8 419 550  (+0.01%)
Nominal GDP (2017)
601.0 bln EUR  (+0.01%)
Credit Ratings (as of May 2018)
AAA/Aaa

Among the main sectors of Swiss economy are production of chemicals, watches, textiles, machinery, and also tourism, banking, and insurance.

Withholding tax rates in Switzerland are 0.0-35.0 %. Switzerland signed 101 double taxation agreements.
Switzerland signed the automatic information exchange agreement on 29 October 2015 and committed to start the automatic information exchange in September 2018.
Switzerland has FATCA agreement with the U.S. in effect since 14 February 2013 (Intergovernmental Agreement Model 2).

Number of Banks
261
Consolidated Banking Assets (2017)
3 249.40 bln CHF  (+4.79%)
Deposit Guarantee
100 000 CHF

Swiss neutrality and national sovereignty have fostered a stable environment where the banking sector was able to develop.

See Also