Switzerland

There are changes in formation and administration of companies in Switzerland: shareholder – only one, board of directors should have only one person resident of Switzerland, no audit required.

Country information

Switzerland

Advantages High international authority of Switzerland Very good jurisdiction for holding companies Many tax conventions signed Disadvantages Necessity of conducting bookkeeping Multilevel tax system, distinctions in the taxation in various cantons Rather big cost of registration and maintenance of the Company Corporative legislation The civil law, the Swiss code of obligations Form of tax-exempted company Aktiengesellschaft (AG)/Societe anonyme (SA) - public corporation, further the Company Gesellshaft mit beschrankter Haftung (GmbH)/Societe a responsabilite limited (Sarl) - limited liabity company Taxation Switzerland is divided into 26 cantons, and each canton has its' own tax system In general, in Switzerland there is a three-level tax system: 1) At a federal level - the federal profit tax (3.63% - 9.8%) and taxes to export of the capital (35%) 2) On canton level - the basic profit tax (8% - 35%) 3) Communes assess incomes, basically in percentage terms from canton taxes Depending on a kind of carried out activity, such as the company (holding, administrative and another) and canton where the company is registered, various rates of taxes to incomes are applied Holding companies do not need to pay taxes from received dividends holding minimum of 20% shares Necessary documents for registration Notaries certification report on establishment, the statute, information on payment of the statute capital Name of company Name of the Company should not be identical or similar to already registered name Words Switzerland, Europe, International, and a number of others can be used only if approved by financial commission Statute capital of the company The minimal signed authorized capital: -for AG 100 000 CHF; 50 000 CHF must be paid by the moment of registration -for GmbH - 20 000 CHF, must be paid by the moment of registration Shares Nominal and bearer shares with a par-value Shareholders - Minimum number - Nationality and citizenship One shareholder - legal of physical person It is not determined Does the law provide for non-disclosure of the information about actual owner of the company AG - Commercial Registry does not have information about shareholders GmbH - Commercial Registry has information about shareholders Directors - minimum number - nationality and citizenship - status Minimum one director Minimum one director should be a resident of Switzerland All rights, except for shareholders taking place in the exclusive competence (it is determined by the statute) Presence in territory of Switzerland of: - Registration office - The registration agent - The secretary Required Not required Not required Holding of the meeting of -shareholders -director Carrying out of assembly not later than 6 months on the ending of fiscal year is necessary Notaries certified report on establishment, the statute, information on payment of the statute capital Mandatory - keeping of accounting records - annual account - presentation of auditor's conclusion Yes Yes No, only for companies with turnover more than 50 000 000 CFH Information at disposal to the third party Names and addresses of directors, registration office, for GmbH also names and addresses of directors Documents kept at the registered office There are no requirements Agreements on exemption from double taxation The USA, Canada, the Great Britain, Germany, Sweden, France, Japan, Russia, Netherlands, Czech Republic, Slovakia, Luxembourg, Spain, etc. Currency control No Term of incorporation 4 weeks Costs of registration of company Please visit www.bbp-incorporations.co.uk/eng/swiss/company/expenses/ Financial year ending on: Recommended on 31st of December Currency control No