When unpaid invoices and tax authority actions threaten your business
Unpaid invoices are the bane of business owners - a huge number of companies in Poland struggle with this problem every day. A customer receives a service or goods, and then… silence. The lack of funds freezes liquidity, causes arrears to suppliers, delays salary payments and forces you to take on costly liabilities.
An additional risk is the freezing of business accounts - imposed by the bank and state authorities, e.g. under STIR, AML rules or tax legislation. Accounts are sometimes frozen because of erroneous decisions, suspicions or the actions of public authorities - which cuts off access to funds precisely when they are needed most.
Why a Swiss account can provide security
By opening a business account (or a combined personal and business account) with a Swiss bank, a business owner gains an additional level of protection:
- Strong banking protection - Swiss banks are known for maintaining confidentiality and complying with stable, strict legal and regulatory standards.
- A lower-risk location for freezes imposed by Polish authorities - foreign accounts often require international legal cooperation, which significantly complicates and lengthens the freezing procedure.
- A liquidity alternative - with funds deposited in, or cash flows routed through, a foreign account, a company can keep operating and pay key costs even when its main account in Poland is temporarily frozen.
But be careful - legality and obligations
A Swiss account is not a magic solution that exempts you from complying with the rules. Key factors:
- Reporting income and transactions - even if the account is held abroad, OECD, EU and Polish rules require reporting in certain situations (e.g. CRS, FATCA, tax regulations).
- Transaction documentation - contracts, invoices and proof of transfers must be transparent. Missing documents can lead to accusations of tax avoidance or money laundering.
- AML and KYC compliance - a Swiss bank will also require confirmation of your identity, your customers and the purpose of transactions.
What you can do now to protect yourself
- Analyse your receivables - identify overdue invoices, assess their size and the possible debt collection actions.
- Check the risk of an account freeze - could your business profile attract the attention of the tax authorities, or might the bank take protective measures?
- Consider opening a foreign account in a safe jurisdiction - Switzerland is one example, but the choice of bank must be carefully analysed: stability, reputation, costs and account terms.
- Ensure documentation and compliance - every transaction must be documented, every invoice must have confirmation, and the contract with the counterparty should be clear.
- Consult a tax or legal adviser - to check how to use a foreign account lawfully, without exposing yourself to sanctions.
Our comment
The actions of the tax authorities and banks, although sometimes justified, can be erroneous or excessively restrictive. For a business owner who runs their business honestly, access to funds and financial liquidity are fundamental to survival.
A Swiss account can be one of the protective tools - but it requires a well-thought-out strategy, legal awareness and appropriate advice. Global Tax Partners helps build financial structures that combine stability, legality and asset protection in the face of growing administrative and fiscal threats.
👉 If you want to see how a foreign account could help your company - contact us and we will prepare an individual plan to protect your financial liquidity.
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