Offshore Banks

UBS AG

UBS AG is the largest Swiss bank, its predecessor originated in 1747,  then it was named the Union Bank of Switzerland (founded in 1862) and then Swiss Bank Corporation (1872) which merged in June of 1998. The headquarter of the bank is located in Zürich and Basel, and its main offices are located in New York, London, Tokyo and Hong Kong. The offices or branches of UBS are located all over the world – in 50 countries. Confidence, security and discretion related to offshore banking are not a prerogative of only Swiss banks any more, but the long-lasting history and reliable reputation of many offshore banks still influence people's intention to choose the services of swiss banks.

For international business as well as for US residents UBS, as well as its main rival in Switzerland – Credit Suisse – is one of the main choices. Wealth banking and investment banking are the basic offshore service provided by the UBS. Many offshore banks avoid making any deals with US residents, and do not open accounts to them, but after Switzerland regulated taxation and information exchange relations with USA (Information Sharing Agreement, Tax Treaty), they continue working actively with the US customers. The importance of USA market can be illustrated by the fact that almost 40%, or 32 thousand out of total 81.5 thousand UBS employees work in the Americas.