Checklist: assessing a cross-border payment or credit instrument

Identify all the parties to the transaction and their exact role, in the manner of the four parties to a bill of exchange.
Determine the currency of each flow, the applicable exchange rate and the party that bears the currency risk.
Verify the solvency and reputation of the payer, as well as the security available in the event of default.
Establish the place of performance, the applicable law and the competent jurisdiction, and make sure that the decision can be enforced.
Characterise the remuneration correctly: explicit interest, exchange-rate differential, commission or trading margin, with the tax and regulatory consequences that attach to each.
Check the compliance of the transaction with the anti-money laundering rules, sanctions and exchange restrictions applicable in each country concerned.
Document the transaction so that its economic reality can be demonstrated, in order to avoid any recharacterisation as a fictitious or concealed transaction.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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