COMPANY FORMATION IN SWITZERLAND:
The Swiss Confederation is an excellent starting point for companies that want to enter the European market. The country is a member of the European Free Trade Association and has several existing bilateral agreements with the EU, but it is not a member of the European Union. Thus, establishing a business in Bern or any other city in Switzerland will allow trading freely with EU countries. In doing so, the company must comply only with local law. Due to low inflation and solid-state support, registration of a company in Switzerland is considered beneficial and promising.
WHY REGISTER IN SWITZERLAND:
- favorable and stable business environment;
- loyal taxation;
- the openness of state borders for the movement of goods and people across the EU;
- the anonymity of business owners;
- protection of assets from unjustified lawsuits.
REGISTRATION IN SWITZERLAND:
- choose and reserve a unique company name;
- to open a consignment account with a bank and deposit the amount of the share capital therein;
- register the company in Switzerland in the Commercial Register;
- obtain a VAT number from the Swiss Federal Tax Office;
- open a current bank account and transfer the funds from the consignment account to it;
- obtain additional permits and licenses.
FORMS OF INCORPORATION:
Limited Liability Company (GmbH)
The composition of the Board of Directors can consist of several people, but one of the participants shall be the resident of the country. There are no requirements concerning the citizenship of shareholders or investors. The authorized capital of the company can not be less than 20 thousand in local currency. When registering company in Switzerland, the capital shall be contributed before the moment of submission of the constituent documents.
Independent audit of the limited liability companies is not mandatory, but the company shall submit annual reporting forms filled in according to all the rules of the canton’s jurisdiction.
Joint-stock company (AG)
All directors, shareholders and participants of the management are appointed by the founder. Employment for the post of the director of one resident of Switzerland is required. The citizen of the country shall be the natural person, but is entitled to finance or act as the shareholder in other companies. The registration of company in Switzerland in the form of AG requires contribution of the authorized capital in the amount from 100 thousand to half a million of Swiss francs. The indicated amount is paid immediately after the establishment of the business.
The authorized bodies shall receive annual report concerning maintenance of bookkeeping, as well as regarding turnover and income of the company. Independent audit is assigned individually, and the more employees are in the workforce and the higher is the level of turnover, the more likely is the assignment of the audit.
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