Automatic Exchange of Information in Tax Matters (AEOI)
The AEOI requires financial institutions (such as banks, brokers, insurance companies and asset managers) to gather information about the tax status of their clients, and in cases where the client is resident in a jurisdiction with which Switzerland has signed an AEOI agreement, the Swiss financial institution will be required to report information on the client’s identity as well as certain account information to the Swiss Federal Tax Administration, which will subsequently exchange the information with the tax authorities in the partner jurisdiction. The AEOI will potentially impact non-resident account holders, including individuals and entities, regardless of legal form (including trusts, foundations and partnerships).
The reporting of information under the AEOI is generally not applicable if you are resident in the same jurisdiction as the financial institution, meaning that a Swiss resident will not be reported by a Swiss financial institution, although the Swiss financial institution will nonetheless gather some information relating to that Swiss resident when applying the AEOI.
Please refer to the FAQs below for more details. This notice is for information purposes only and should not be interpreted as advice of any type, especially of a fiscal nature. It may be changed at any time, particularly following a change in the law or in the practice of the relevant authorities.