On 2 August 2019, Switzerland released the text of the recently signed Automatic Exchange of Information (“AEOI”) agreements between Switzerland and Hong Kong (Link) as well as between Switzerland and Singapore (Link).
The bilateral agreements on the introduction of the automatic exchange of financial account information with Hong Kong, signed on 13 October 2017, entered into force on 1 July 2019 and the one with Singapore, signed on 17 July 2017, and on 1 August 2019.
Both agreements were provisionally applied for the time being due to the fact that the parliamentary approval procedures had not yet been completed. The Swiss parliament approved the agreements in the 2018 winter session. After the expiry of the referendum deadlines in spring 2019, the notifications required for entry into force were exchanged between the parties. Based on these agreements with Hong Kong and Singapore, Switzerland will exchange information on financial accounts collected in 2018 with Hong Kong and Singapore in September 2019.