It is often said expat US persons get a raw deal trying to get access to financial services, the situation is starting to change for the better in places such as Switzerland.

How quickly things change. Since the dark days of 2009 when UBS was facing problems with the US Department of Justice over hiding money for non-tax compliant US citizens and the subsequent collapse of Wegelin Bank when faced with a US subpoena, many Swiss and European banks have been actively closing accounts held by US persons – or people who just might be a US person. US expatriates working in Europe have found it hard to open even simple retail accounts due to the fear of reporting requirements resulting from the FATCA Act legislation.

Fast-forward five years and there are a quite a few Swiss institutions who now offer a fully SEC-compliant and declared service to US persons who want to hold assets outside of the US and use internationally-focused investment advice – something that can be difficult to access in the United States. That is quite a turnaround in just a few years.

Now there is a new on-line facility for US would-be investors to access which provides a list of Swiss institutions that are happy to accept US citizens as clients through their SEC-registered entity, www.americanswelcome.ch has been operational since the end of September and lists 45 SEC-registered Swiss asset management companies. Some are niche players but there are also SEC-registered arms of many larger Swiss institutions – so there is plenty to choose from. (To view another example, recently interviewed by this publication, see here.)

Anne Liebgott is the chief executive of the company behind the website. “It is not just the investment advisors that we list,” she told this publication. “There are also lawyers, tax experts and trust advisors that are based in Switzerland and ready to help international investors who are US citizens investing outside of the USA in a US tax-compliant way.”

The site is free to use for investors and does not require any declaration of identity or intent, collecting no data on its users. “These decisions are rarely taken quickly,” said Liebgott. “The site acts as a starting point for research and encourages would-be investors to get on a plane and come to Switzerland and meet with these asset managers and other advisors to see what they offer in products and services to this specific market sector,” she said.

“Switzerland has a history of asset management expertise and a tradition of banking excellence and political stability that remains attractive to international investors,” she continued.

As transparency and service-based fees become increasingly popular amongst providers, Liebgott said that this is a market that will grow as the Swiss banking sector becomes more open to internationally tax-compliant products and services. “As long as these institutions can deliver the service and performance that clients want, they will continue to be attractive to a segment of the market,” she concluded.

There is even a section on the website which showcases Swiss lifestyle with articles on such things as Swiss caviar and Swiss wines.

The future should bring a sister site www.americanswelcome.asia for institutions in Asia that are SEC-registered and will welcome US persons as clients. The post-FATCA world does not mean, therefore, that being a US person is to be a financial pariah.