Switzerland is among the most preferable hubs for carrying out commercial activity. It features a reliable economy and has one of the best financial systems in the world. Known for its strong pharmaceutical or tourism domains, it has also recently introduced itself as a place for startups in the fields of Fintech or cryptocurrency. Operating a business here necessitates that businesses are duly formed, and adhere to the country’s laws and obligations. In this article, we review the core aspects of company formation in Switzerland and the key perks of operating here.
The Swiss sector of finances takes a high position in the EU and its cross-border trading relationships are also very well established. In fact, Germany is the leading partner for both export and import, while the Netherlands, United Kingdom, Austria, Luxembourg, and France are also great investors when it comes to foreign capital contribution. A reasonable argument for setting up a Swiss entity refers to the fact that this jurisdiction features well-developed infrastructure, with competitive cantons that contribute a lot to a market-oriented climate.
Swiss law allows for a number of variants for opening a business. Generally, there are four types:
Initially, opening a Swiss company may seem daunting, but you can use expert advice in this process. Overall, you will have to conduct the following steps:
Strategic location – Swiss largest trading partner is the EU. 80% of Swiss imports come from the EU and about 60% of its exports go to various EU states. There are many side deals or bilateral contracts with the EU, which remove many barriers to the global market.
Industries with strong potential for growth – aside from the domain of finances which is the most developed here, Switzerland is notorious for healthcare, chemical industries, life sciences, and recently, Fintech and cryptocurrency.
Transparency – Although the country is divided into 26 cantons with varied legal frameworks, all of them ensure a business-friendly setting via the legal side and special tax incentives.
Reasonable taxing – Swiss jurisdiction applies some of the lowest value-added tax rates available at the EU level. The standard rate is only 7,7%. Overall, the Swiss jurisdiction features more than 70 double tax treaties in place, which makes it easier for entrepreneurs to take advantage of lower tax rates.
For detailed information regarding Swiss company formation, please reach out to our lawyers. We are at your service, ready to provide professional assistance.
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