SWISS RESIDENCY

Hinduja family members jal: A Swiss criminal court has sentenced four members of the wealthy Hinduja family to between four and 4 1/2 years in prison for exploiting their domestic workers. The court, however, dismissed more severe charges of human t...

Julius Baer Group Ltd. hired senior bankers from UBS Group AG and JPMorgan Chase & Co. to strengthen its business serving wealthy Indians in Dubai.

Modi also charged the RJD-Congress combine for having made Bihar, which gave India its first president Rajendra Prasad, infamous for extortion. He lambasted the Nehru-Gandhi family, which he referred to as "Congress' royal family", for "keeping mum"...

In a tragic incident in Sion, Switzerland, two people are dead and another injured after a shooting. The unidentified suspect fired shots in two areas. Authorities suspect familiarity between the assailant and victims. A murder investigation is unde...

India has received a new set of Swiss bank account details as part of an annual automatic information exchange. Switzerland has shared information on nearly 3.6 million financial accounts with 104 countries. This is the fifth such exchange between S...

According to some reports, Indian investment in the Swiss banking system witnessed a sharp rise in 2021. Switzerland had shared information about Indian account holders in four batches since the automatic exchange of bank information agreement was s...

They did not divulge specifics, citing the confidentiality clause of the information exchange and the adverse impact it may have on further investigations, but asserted that the data would be used extensively in probes of suspected tax evasion and o...

Finance Minister Nirmala Sitharaman further informed the House that 648 disclosures involving undisclosed foreign assets worth Rs 4,164 crore were made in the one-time three months compliance window, which closed on September 30, 2015, under the Bla...

Court says Switzerland can share info on bank a/cs, trusts even if money’s not distributed.

The rise in aggregate funds of Indian clients with Swiss banks, from 2.55 billion Swiss francs (Rs 20,700 crore) at the end of 2020, marks the second consecutive year of increase. Besides, the money held in Indian customers' savings or deposit accou...

The population of Davos, estimated at about 10,000 (numbers India can conjure in a few blocks), survive on the business generated by ski tourism—which extends from end-November till April. Claudia, a German living in Davos for over 11 years, says th...

The rare springtime WEF Annual Meeting -- which has been otherwise taking place for 50 years in January, when this highest town of Europe is covered in snow -- however, is different in many other senses, be it a sunny weather, absence of snow boots ...

Fierce fighting near Ukraine's nuclear power plants, including Chernobyl -- the sight of the world's worst nuclear accident in 1986 -- have also heightened fears that even traditionally neutral Switzerland could be affected by the war.

Once the trust or the investment entity ceases to exist, tax haven authorities are under no obligation to give out the underlying info. Zurich banks may have archived details of accounts going back before World War II, but they shut the doors when a...

They were open secrets, flourishing as custodians to hidden wealth of the super rich. All that began to change with the 2008 financial meltdown when sovereigns looked for funds as tax coffers ran dry.

Switzerland agreed to AEOI with India after a long process, including a review of the necessary legal framework in India on data protection and confidentiality.

The move comes following reports of deposits by Indian Swiss banks rising to Rs 20,700 crore at the end of 2020, from Rs 6,625 crore at the end of 2019.

Quoting data from Switzerland's central bank, PTI had reported on June 17 that funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 13-year high of 2.55 bil...

Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and ...