Switzerland - population - approximately 7 000 000, official language- German, French and Italian. Official unit - Swiss franc (CHF) 1 USD = 1.65 CHF

Switzerland

Advantages High international authority of Switzerland Opportunity of registration of the holding company with privileges under tax conventions, etc. Many tax conventions made Disadvantages Necessity of conducting book keeping, granting of the annual report with the auditor conclusion 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 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 (20 % - 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, are applied various rates of taxes to incomes 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 other can be used only if approved by financial commission Statute capital of the company The minimal signed authorized capital - 100000 CHF, 50000 CHF must be paid by the moment of registration Shares Nominal and bearer shares with a par-value. If bearer shares are issued, full payment of the authorized capital is required, by the moment of share issue Shareholders - Minimum number - Nominal shareholders - Holders of trust equities Minimum three subscribers at registration, further a minimum one shareholder Are possible It is not determined It is authorized Does the law provide for non-disclosure of the information? - About actual owner of the company Usually bearer shares which do not demand disclosing the real proprietor of the company are issued Directors - minimum number - nationality and citizenship - status Minimum one director Minimum one director and the majority of board of directors should be residents of Switzerland. (change of the given rule if the company is holding) is Possible 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 Yes Information at disposal to the third party Names and addresses of directors and shareholders, registration office 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 Look for: Costs of registration and service Financial year ending on: Look for: Annual support of companies Currency control No