Legal

Tax transparency should be increased and cross-border tax evasion and should be prevented with the help of the global standard for the automatic exchange of information on financial accounts (AEOI). The global standard makes provision for the mutual exchange of information on financial accounts between states and territories that have agreed among themselves to the AEOI. Aside from Switzerland, over 100 states and territories, including all major financial centres, have declared their intention to adopt the standard.

The legal basis for the AEOI was approved by The Federal Assembly in December 2015. It entered into force on 1 January 2017.

Switzerland generally implements the AEOI on the basis of the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA). Bilateral treaties have been concluded with the EU, Hong Kong and Singapore as the basis for the AEOI.

To date, Switzerland has agreed to the AEOI with the following partner states.



Banque Internationale à Luxembourg (Suisse) SA (“Bank”) has issued a Data Privacy Statement in light of the Swiss Federal Act on Data Protection (“DPA”) and its upcoming revision as well as the EU General Data Protection Regulation (“GDPR”), which is the new privacy regulation of the European Union (“EU”).

Although GDPR is a regulation of the EU, it is relevant for the Bank for a number of reasons. Swiss data protection legislation is historically closely tied to EU regulations and its future amendment will be substantially influenced by GDPR. Furthermore although GDPR is an EU regulation, under certain circumstances, it may apply to companies outside the EU such as the Bank (extraterritorial effect).

Please familiarize yourself with this Data Privacy Statement, which you download hereunder:

Data Privacy Statement

For any right that you might wish t exercise in connection with the Data Privacy Statement, we invite you t use the following form:

Exercise of rights request form



All banks operating in Switzerland must be licensed by the Swiss Financial Market Supervisory Authority (FINMA). FINMA is a member of the Basel Committee on Banking Supervision and regulates and supervises all banks in Switzerland according to the Basel Committee’s standards. These standards cover not only equity and capital adequacy but also the entire scope of prudential and behavioural rules. Swiss law demands capital adequacy standards that are even higher than those required by the Basel Capital Accord.

In particular, the Swiss Banking Act of 2005 stipulates that all Swiss branches of banks and securities firms must have certain deposits protected by esisuisse, a deposit insurance scheme that guarantees client money held with Swiss branches of banks and securities firms. If a bank or securities firm in Switzerland becomes insolvent, the other members of esisuisse will immediately provide the required funds. This collective scheme ensures that the clients of such an insolvent bank have their protected deposits paid out to them within one month. For this purpose, any bank and any securities firm in Switzerland is required to sign the “Self-regulation Agreement”, an agreement between esisuisse and its members. This agreement ensures that clients’ deposits are protected up to a maximum of CHF 100,000 per client. Medium-term notes held in the name of the bearer at the issuing bank are also considered deposits. Depositor protection in Switzerland is provided by esisuisse, and the depositor protection system is explained in detail at https://www.esisuisse.ch/en