SWITZERLAND COMPANY & SWISS BANK ACCOUNT

In the modern business world, it is essential for companies to form a corporate presence in Europe. Switzerland is typically the go-to destination for many ambitious business owners. As one of the most open and politically stable countries in the world, Switzerland is the ideal location for business formation.

What is the Swiss Company Formation Law?

For companies that decide to incorporate in Switzerland, it is necessary to consider Swiss company formation laws. These laws will determine the legal and tax obligations of the company as well as the types of investments that are permissible. Generally, these laws are in place to protect consumers, employees, and the business itself from potential legal and financial liabilities.
The Swiss company formation law outlines the basic requirements necessary for the formation of an incorporated company in Switzerland. This law was originally established in 1866 and has since undergone many revisions.

Steps of Company Formation in Switzerland

In general, Swiss company formation follows five main steps.

1. Identify Right Legal Form of Swiss Company

First, the founders must first decide on a suitable legal form for their company. This is typically the limited liability company (LLC) or the limited company (LC) models. Each model has its own distinct advantages and should be based on the company’s requirements.

2. Designate the Registered Agent for Swiss Company

The company must designate a registered agent in Switzerland who will be authorized to represent the company in the eyes of the law. This person must take responsibility for any legal obligations and manage the company’s financial and reporting requirements. Legal address and accounting is also required to start the company.

3. Share Capital Account for Swiss Company
A blocked capital account should be opened to pay the share capital. Money from the capital account can be transferred and used only after opening a corporate account for the company.

4. Signing of Article of Association

Following, articles of association and public deed must be drafted and signed by the founders before the notary. If you don’t want to come to Switzerland, you can issue a Power of Attorney to our representative in order to set up a company. Articles of association should clearly state the objectives of the company and its commercial activities.

5. Verifying the incorporation & Payment
Commercial register checks incorporation documents and register the company within 14 working days. The founder should also pay the associated fees and taxes.

The Benefits of Forming a Company in Switzerland

Switzerland is known for its renowned business environment and the establishment and growth of international business organizations. By forming a company in the country, foreign investors and businesses can benefit from its relaxed tax laws, political stability, and well-developed legal system.
The Swiss business and taxation system is generally one of the most favorable in the world. Companies in Switzerland do not have to pay taxes on foreign income and are eligible for tax holidays after they fulfill certain eligibility requirements. Thanks to its wealth of financial services, Swiss banks are an important point of contact for international transactions.
The country is also known for its political and economic stability. This ensures foreign investors and businesses enjoy the protection of a stable, well-rounded legal system. Attention to detail is critical to the success of any business venture and Switzerland’s higher-level auditing system helps to keep stockholders and investors up to date with the company’s progress.
Overall, Switzerland is one of the prime locations to consider for companies looking to establish their global presence. Through Swiss company formation, entrepreneurs can gain access to all the advantages that the country has to offer. This includes the low tax rates, political stability, legal protections, and access to all the global markets. Moreover, Switzerland is also an ideal place to establish a corporate headquarters that is viable and accessible to all investors.

Bank Account Opening in Switzerland

Switzerland is known for its banking secrecy laws, making it a popular destination for foreigners to open a Swiss bank account. In order to open a Swiss bank account, you must first go to a Swiss bank in person (or its corresponding branch in a foreign country). In most banks, it is possible to open a personal account only to Swiss residents. At the same time, if you are ready to put some money on the account and let bank to manage your funds, it is possible to open a personal bank account in Switzerland even without being a Swiss resident.
Before you can open the account, there are a few steps you need to complete. You will need to fill out an Application Form, provide photo identification with a valid passport, and furnish a proof of residence by providing a copy of a recent utility bill. Depending on the bank you choose, you may also need to provide your financial statements, such as proofs of income or net worth. You will also need to make an initial deposit to open the account.
Once your application is approved, you will be assigned a Customer Identification Number (CIN) which is specific to your account and issued an IBAN. You can then use this CIN to access the account through your internet banking platform or mobile app.
If you plan to open a Swiss bank account, it’s important to take the time to research and compare different institutions, as there are several options available. Banks in Switzerland may offer different account types, services, fees, and other features, so do your research before selecting a bank to ensure that you are getting the best for your needs.
The procedure for opening a corporate bank account for the company is quite similar. The bank may require proving substance in Switzerland for the company to open a corporate account. In any case, engaging specialist, like Nex Consultants will double your chances to succussed in opening a bank account in Switzerland.

HOW CAN NEX CONSULTANTS HELP ?

Nex Consultants offers an invaluable service for those looking to set up a company in Switzerland.  We take away much of the hassle, stress, and difficulty that can come with navigating the complex web of domestic and international laws and regulations.  Our services not only include registering the company but also we can offer European payment processing, bank accounts and so much more – all from one package. With our consultant’s knowledge and expertise, Nex Consultants  makes registering, managing and growing a business quick, painless and stress-free.