Compliant Wealth Management Business with Russian Clients

Mission impossible?

Russia is an important market for Swiss wealth management providers, which despite sanctions and pressure on the Russian economy has great potential: Russia holds approximately one third of the Eastern Europe private wealth. Switzerland provides a reliable and efficient banking system for Russian clients, and a safe-haven from the structural imbalances in the Russian economy and the political situation. Switzerland, together with the UK and Monaco, is one of the countries where some wealthy Russians have moved or are moving their tax residency in response to the “puzzle” posed by the Russian de-offshorization laws.