Opening a Swiss Bank Account as an Expat: What You Really Need to Know in 2025

Knotted
Jul 7
4 min read

Why banking in Switzerland — and especially in Ticino — still matters

For decades, Switzerland has been synonymous with stability, discretion, and top-tier private banking. And yet, for many expats arriving from countries with faster or more informal banking cultures, opening a bank account in Switzerland can feel surprisingly formal — even intimidating.

But behind that structure lies a system built on trust, transparency and long-term relationships. Especially in Ticino, the Italian-speaking region of Switzerland, banking still holds a central role in everyday life — from real estate purchases to school fees, to managing cross-border income.

Whether you're a high-net-worth individual moving for the flat tax regime, an entrepreneur relocating your holding company, or a family looking for a better quality of life, understanding how banking works in Ticino can make a significant difference.

What to Expect When Opening a Bank Account in Ticino as an Expat

Most expats arrive with a simple checklist:

Find a house
Register with the commune
Get a SIM card
Open a bank account

But Swiss banks don’t work on checklists — they work on trust and due diligence. Even in Lugano, Bellinzona or Locarno, where banks are used to working with international clients, the process still follows a precise structure.

Here’s what most banks will ask for:

Proof of residency (a valid permit or confirmation it’s in process)
Clear explanation of your professional background and how you generate income
Supporting documents for companies or real estate held abroad
Details about digital assets, if crypto is part of your wealth

This is not about suspicion. It’s about understanding your story — who you are, how you’ve built your wealth, and how you intend to live in Switzerland. In Ticino, where banking often feels more personal than in Zurich or Geneva, this story matters even more.

Your Choice of Bank Can Make or Break Your Swiss Experience

There is no such thing as “a Swiss bank.”Instead, there’s a wide range of institutions, each with its own focus, style, and requirements:

Retail banks in Ticino offer solid day-to-day banking but may lack cross-border expertise.
Private banks in Lugano are ideal for managing substantial assets, real estate financing, or succession planning.
Digital banks (like Neon or Yapeal) offer fast onboarding — but often struggle with expat-specific complexities, especially if you hold non-CHF assets or live between countries.

Choosing the right bank means understanding how your profile matches their expectations. Are you a digital nomad? A crypto entrepreneur? A corporate executive? A family office? Each profile has its ideal counterpart in the Ticino banking ecosystem.

And most importantly, being introduced properly — by a trusted, regulated intermediary — can speed things up, avoid misunderstandings, and ensure the relationship starts on the right foot.

Crypto, Companies and Cross-Border Complexity: Where Swiss Banking Gets Personal

Ticino is now one of Europe’s most crypto-friendly regions. With initiatives like Lugano’s Plan ₿, more and more banks in the region are open to working with crypto-related profiles — both individuals and companies.

But don’t mistake “openness” for “easiness”.

If your wealth includes digital assets or if you run a digital-first business (especially a foreign legal entity), Swiss banks will want clarity on:

Wallet custody: where and how assets are held
On/off-ramp processes: how you convert crypto into fiat
Tax reporting: your residency, obligations and declarations
Corporate structures: especially if your company is domiciled abroad

These are sensitive topics. A wrong approach — or missing document — can delay or even block the process. That’s why many expats work with specialised advisors who can present their case clearly, anticipate questions, and manage the documentation proactively.

Why Introductions and Preparation Matter More Than Ever

Unlike in many other countries, walking into a Swiss bank branch unannounced is rarely effective. Yes, you may get a meeting — but without context or introduction, you’re just a file on a desk.

Introductions still matter deeply. Especially in Ticino, where personal relationships and trust are part of the financial culture. Being introduced by:

A regulated asset manager
A relocation specialist
A trustee or fiduciary advisor

…can dramatically increase your chances of success. It shows that someone credible has already done the first level of vetting, and that you are serious, transparent, and informed.

At Knotted, we act as that bridge — not just sending clients to a bank, but accompanying them through every step, from choosing the right institution to preparing the paperwork.

The Benefits of Having a Swiss Bank Account in Ticino

Once your account is open, things get easier — a lot easier.

You gain access to:

Multicurrency facilities (CHF, EUR, USD and more)
Direct links to mortgage solutions for real estate in Switzerland
Transparent wealth reporting to simplify international tax filings
Discretion, service and relationship banking — especially valued in Ticino’s Italian-Swiss culture

A Swiss bank account is not just a tool — it’s your anchor point for life in Switzerland.From buying property to registering your business, to receiving income from abroad, having the right banking setup makes every other step smoother.

Banking Doesn’t Have to Be Complicated — With the Right Support

We’ve helped families, entrepreneurs, executives and early retirees from all over the world open their Swiss bank accounts in Ticino — without surprises or delays.

Whether you're planning to move to Lugano, Locarno, Mendrisio or anywhere else in the region, we can:

Recommend the right banks for your profile
Prepare your documentation in line with Swiss compliance
Introduce you to trusted relationship managers
Coordinate with lawyers, notaries or wealth managers when needed

We believe that relocation should be exciting, not overwhelming. And that a good banking relationship is a powerful first step toward building your life here.