Switzerland

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overview

Switzerland

Switzerland is a highly respected jurisdiction with low canton-based taxation.

Switzerland is renowned as a friendly business environment with superb banking services and financial stability.

A new cross-sectorial legal architecture was introduced to homogenise regulatory requirements, following the golden rule of “Same business, same risk, same rules”.

Swiss Financial Market Supervisory Authority (FINMA) has appointed a non-profit self-regulatory organisation (SRO), “Association Romande des Intermédiaires Financiers” (ARIF) to authorize independent asset managers.

The Certificate of Membership offered by this SRO would allow a successful applicant to conduct portfolio management activities within and beyond Switzerland.

To become an ARIF member, you have to register a limited company with initial capital not less than CHF 20,000 in Switzerland.

The company must have at least one Director of Swiss nationality (We in Offshore Tech & Intermediary Services are ready to provide you with the nominee services).

All members who will conduct portfolio management must have an adequate level of knowledge and experience proved by CVs and relevant diplomas, besides having the right to work in Switzerland.

Everyone involved in the management activities must supply a personal file according to the Swiss Anti-Money Laundering Act.

Once your company is affiliated to ARIF, specific training is prescribed by law for all members of the company.

Examinations or tests not required for management personnel.

  • Time Frame: Within 3 Months
  • Taxation: Average 12% (differs from canton to canton)
  • License: “Association Romande des Intermédiaires Financiers” (ARIF) Membership

For each Director, Shareholder and Ultimate Beneficial Owner:

  • Notarized / Certified True Copy of Passport
  • Notarized / Certified True Copy of Proof of Address
  • Bank Reference Letter
  • Lawyer Reference Letter
  • Notarized / Certified True Copy of Higher Education Certificate
  • Detailed CV dated and signed by the applicant


For each Corporate Shareholders of the company:

  • Copy of Passport of the Authorized Person of the Company (to be Notarized by Notary Public or Embassy)
  • Utility Bill as proof of residency of the Authorized Person of the Company (to be Notarized by Notary Public or Embassy)
  • Latest CV detailing Educational background and Working Experiences of the Authorized Person of the Company
  • Registries of Company listing down the names of Director, Shareholder, Auditor, Company Secretary (to be Notarized by the Company Secretary or Notary Public)
  • Certificate of Incorporation (to be Notarized by the Company Secretary or Notary Public)
  • Certificate of Registered Address of the Company (to be Notarized by the Company Secretary or Notary Public)
  • 3 Copies of Annual Audited Financial Statement / Annual Financial Report for the year preceding the application

Company structure:

  • Minimum 1 Shareholder (natural or legal person, no nationality restrictions)
  • Minimum 1 Director (natural persons only, at least 1 must be of Swiss nationality)
  • Details of Shareholders and Directors will form part of public record


Taxation:

  • Taxation: Average 12% (differs from canton to canton)


Accounting requirements:

  • Annual Financial Statements
  • Annual Report
  • Audit (Depends on the size of the Company)


Others:

  • Registered Office – Required
  • Secretary – Required

Legal Framework: Financial Services Act (FinSA) and Financial Institutions Act (FinIA)

Regulatory Authority: Swiss Financial Market Supervisory Authority (FINMA)

Time Frame: Within 3 months

Minimum Paid-Up capital:

  • Fully Paid-Up Capital of CHF 100,000.
  • In addition, portfolio managers and trustees have to either:
    1. Adequate collateral.
    2. Take out Professional Liability Insurance which can be accounted for up to half of your own funds to cover the risks.
  1. Compile and prepare of all of the documents for initial verification.

  2. Incorporation of a company in Switzerland.

  3. Opening of a local bank account.

  4. We will submit your Membership application to “Association Romande des Intermédiaires Financiers” (ARIF).

  5. In the meantime, ARIF will require additional documents that will have to be provided in order to back-up specific information.

  6. Liaise with ARIF on follow-up actions.

  7. Once admission into ARIF is granted, specific training is prescribed by law for all members of the company.

  8. Start your business.
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