VP Bank (Switzerland) has become one of only a few Swiss private banks to be given simplified access to the German market.

The Swiss private bank has secured a necessary exemption from the German Financial Supervisory Authority (BaFin) under the simplified procedure.

This allows VP Bank to serve clients domiciled in Germany from its office in Switzerland, and means it will also be able to actively acquire new clients without needing to set up a permanent establishment there or cooperate with another licensed financial institution.

During the approvals process, BaFin verifies that the bank complies with all rel...