The rich have always been welcomed in Switzerland. To spend, but more importantly to hoard. Across the country, in secretive locations, banks operate underground vaults and storage facilities — often converted military bunkers that have been hewn from mountain rock. Some have no roads nearby and can only be accessed by air.
At one facility 40km south of Lucerne, storage company Brünig Mega Safe is carving into an imposing mountain and plans to offer “professional and secure storage of assets in underground caverns” for anything from gold bars and stock certificates to artworks and classic cars. Prices start at $500,000 for a 25 sqm vault.
For three centuries, the country has also offered the rich reliable, specialist advice on managing and investing their money. In times of war, political turmoil and rising taxes, the country’s stability and geopolitical neutrality — combined with its strict adherence to banking discretion — supported a thriving and world-leading wealth management industry.