Best Country to Open a Bank Account for Protecting Assets From War
In times of growing geopolitical tension, more and more people are asking: where is the safest country to open a bank account to protect money from war or political risk? Choosing the right jurisdiction is critical – it determines the level of legal protection, accessibility of funds, and long-term stability of your capital.
Below we review the most popular countries and alternative solutions for safeguarding wealth.
Open a secure bank account abroad – fast, legally, and with expert support.
Switzerland - the global benchmark for banking safety
Switzerland has long been the symbol of financial security and stability. Political neutrality, a strong currency (CHF), and strict banking regulations make it one of the most attractive jurisdictions for wealth protection.
However, access is limited. Most Swiss banks require a minimum deposit of CHF 300,000-500,000 and only accept clients through private banking. Annual account maintenance fees can easily reach several thousand francs, which makes this option suitable mainly for high-net-worth individuals.
German-speaking countries - Germany, Austria, Liechtenstein
Banking in Germany and Austria is reliable, but it usually requires formal residency. To open an account, banks demand proof of address, a tax number, and sometimes an employment contract.
Liechtenstein offers a system similar to Switzerland’s – strong asset protection, banking privacy, and high stability. But again, the entry threshold is high, and compliance procedures are strict and time-consuming.
Southern Europe - Italy and Spain
Opening a bank account in Italy or Spain is possible, but it carries tax residency risks. Local authorities may consider account holders as tax residents, which could trigger obligations to declare worldwide income.
Another drawback is bureaucracy. Opening an account may take weeks or even months, and during times of political instability, there is a real risk of capital controls or restrictions on cross-border transfers.
Alternative option: e-money institutions (Revolut, Wise)
Fintechs such as Revolut and Wise have become popular for their multi-currency accounts, fast international transfers, and debit cards.
But it’s important to note: your funds are not technically held at Revolut or Wise themselves, but rather in partner banks:
- Revolut deposits are safeguarded in the UK and Lithuania,
- Wise holds client money in banks in the US, UK, and Belgium.
This means that the actual level of protection depends on the regulatory system of the partner banks’ countries, not just the app.
United States – dollar stability and company structures
For those who want to secure wealth in USD, the US remains one of the safest banking systems worldwide. The US dollar is the world’s primary reserve currency, and American banks are tightly regulated.
Non-residents usually cannot open a personal account. The solution is to form an LLC (e.g., in Wyoming or Delaware), which allows opening a fully functional business bank account. Setup costs are relatively low, making it a practical option for international clients seeking dollar exposure.
Dubai (UAE) - opportunities and risks
Dubai has gained popularity as a financial hub, with no personal income tax and access to both local and international banks. Many see it as a safe haven for wealth.
However, there are significant risks:
- UAE banks are under full state control and can freeze funds for political reasons,
- due diligence is extremely strict – opening an account may take several months,
- the Middle East carries a higher level of geopolitical risk compared to Switzerland or the US.
Other jurisdictions worth considering
While Switzerland, the USA, and German-speaking countries are the most frequently considered options, there are several other locations that can serve as attractive alternatives for capital protection. Some offer a high level of financial stability and advanced banking infrastructure, while others attract investors with favorable tax regimes or a discreet approach to privacy. However, it’s important to note that each option comes with specific requirements – from minimum deposit thresholds to strict verification procedures.
- Singapore – highly stable, strong legal protection, but requires significant deposits (USD 200,000+) and full documentation of fund sources.
- Hong Kong – still a major financial hub, but increasingly under Chinese political control.
- Scandinavia (Sweden, Norway, Denmark) – safe banking systems, but strict residency and tax reporting requirements.
Safe destinations for your funds – what should you choose today?
There is no single “perfect country” for everyone. Switzerland and Liechtenstein remain symbols of banking safety, but with high entry barriers. The US and Singapore offer global stability but require company structures or large deposits. Fintech apps like Revolut and Wise provide convenience but limited legal protection.
For individuals seeking real security against war or political risk, the most practical solution is diversification – holding accounts in at least two independent jurisdictions, partly in US dollars, with additional fintech access for everyday liquidity.
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Frequently Asked Questions About Foreign Bank Accounts During Wartime
As geopolitical tensions rise, more and more people are asking where and how to protect their capital in the event of armed conflict. In this section, we answer the most common questions about opening bank accounts in various countries – from Switzerland and the USA to Dubai – and discuss the risks and requirements associated with each option. You’ll also find information on fintech solutions, tax residency, and real strategies for safeguarding your assets.
Does a Swiss bank account protect assets during war?
Yes, Switzerland is one of the safest banking systems in the world, with neutrality and privacy laws. However, opening an account usually requires CHF 300,000–500,000 as a minimum deposit plus annual private banking fees.
Can I open a bank account in Germany, Austria, or Liechtenstein without residency?
Generally no. These countries require proof of residency and a tax ID. Liechtenstein allows non-resident accounts, but only for wealthy clients with large deposits.
Does opening a bank account in Italy or Spain make me a tax resident?
It can. Authorities may view a local account as an indicator of tax residency, which could force you to report worldwide income in those countries.
Are Revolut and Wise safe during war?
Both are regulated e-money institutions, but your funds are actually stored in partner banks in the UK, US, Belgium, or Lithuania. Security depends on those banking systems rather than the fintech brand.
Is a US bank account safe for asset protection?
Yes. The US dollar is the world’s strongest reserve currency, and banks are heavily regulated. Non-residents must open an account through an LLC (e.g., in Delaware), which is affordable and straightforward.
Is Dubai a good place to protect money?
Dubai offers zero personal tax and international banking, but accounts are under government control, compliance is strict, and the region carries geopolitical risks.
Can I open a bank account in euros or zloty outside my country?
Euro accounts are widely available abroad, but PLN (Polish zloty) accounts are rare. Even if available, they often come with restrictions, such as double currency conversion fees.
What is the best way to protect money from war?
The best approach is diversification – holding at least two accounts in different safe jurisdictions (e.g., Switzerland + USA) and using fintech (Revolut/Wise) for daily liquidity and transfers.
