Apparently, it’s pretty easy to do, and doesn’t require a million dollars. The basic Swiss account can be obtained through a broker, with a minimum balance of $10,000. And you get the benefit of being either tax free, or mostly anonymous (interest earned by Swiss companies are subject to a 35% withholding tax, but you can get most of it back if you can prove you’re not from Switzerland).
The other big benefit is that you are generally exempt from small crimes such as tax evasion:
Bank secrecy is not lifted for tax evasion. This is because failure to report income or assets is not considered a crime in Switzerland. As such, neither the Swiss government, nor any other government, can obtain information about your bank account. They must first convince a Swiss judge that you have committed a serious crime punishable by the Swiss Penal Code.
… or divorce/inheritance issues:
Bank secrecy will not be lifted for private matters such as inheritance or divorce if you have kept your banking information strictly confidential. It is up to plaintiffs to prove that the account exists if they wish the judge to pursue the case. In this respect, the numbered account provides the maximum degree of confidentiality.
Classic Swiss Bank Account
Unfortunately, this offer isn’t open to residents of the USA. Nor is it available for Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Colombia, Congo-Brazzaville, Iraq, Ivory Coast, Lebanon, Liberia, Myanmar, Nigeria, Rwanda, Sierra Leone, Somalia, Sudan, Uzbekistan, or Zimbabwe. Americans can still get Swiss Cantonal Bank accounts or the coveted Swiss numbered accounts.