It has been estimated that one third of the world’s private banking wealth is managed in Switzerland.
Geneva is where the concept of private banking began and the management of private and institutional assets lies at the heart of the banking activities conducted in this location. Although Switzerland is not a zero tax haven, Swiss authorities allow trusts created by, and for, non-residents of Switzerland to operate without negative tax consequences. This has considerable advantages for trust administration, as does Switzerland’s enduring political and monetary stability and rights to privacy in personal and business affairs that are enshrined in the country’s banking laws.
Minerva set up its office in the business district of Geneva in 2001 to serve the existing clients of the group and to develop new activities. Over recent years, Geneva has attracted an increasing number of financial service companies offering trust and company formation and management services. It has a highly developed support infrastructure in the banking, legal and investment management professions.
Minerva Trust Company (Switzerland) SA is subject to supervision of FINMA under the Anti-Money Laundering Act, which can be viewed in detail at www.finma.ch.