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Switzerland

Switzerland

Switzerland likes to call itself 'the most European country', yet it has stayed outside the European Union since Charlemagne. However two sets of 'bilateral agreements' are gradually bringing Switzerland within the EU in all but name. Switzerland is said to be the world's biggest centre of private banking, with more than a third of all private wealth based there. Swiss banking assets exceed three trillion Swiss francs.

Although Switzerland, an OECD member, agreed in 2000 with an OECD declaration aimed at securing information exchange, it has fought a rearguard action ever since to preserve banking secrecy. Most recently, it has entered a series of agreements with Germany, the UK etc to tax their nationals Swiss assets on a confidential basis. Switzerland is not an offshore jurisdiction as such, but has a series of specialised corporate forms which can be used by international investors and multinational companies to reduce their tax bills to a significant extent. However, as a civil code jurisdiction, Switzerland tends to the bureaucratic, meaning slow and expensive. Switzerland has double tax treaties with more than 100 other countries.

Country:
Switzerland
Region:
Europe
Currency:
Swiss franc (CHF)
Languages:
German, French, Italian
Time Zone:
UTC +1
Phone Code:
+41
Communications:
Good
Formation Cost:
6000 - 10000 USD$
Formation Time:
8 - 13 days
Maintenance cost:
3000 - 600 USD$
 

Suitable for:

  • Treasury Management,
  • Wealth Management
  • Fund Management,
  • Banking
  • Insurance
  • Intellectual Property/Licensing
  • Holding Companies
  • E-commerce
  • Shipping
  • Aviation
  • Yachting

Vehicle Types:

  • Limited companies
  • public limited companies
  • sole proprietorships
  • branches
  • general partnerships and limited partnerships

Capital primary business districts:
Bern, Zurich

Good Relationships:
Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom 

Bad Relationships:
Burma, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria 

Tax Burden - Business:
Moderate

Tax Burden - Individual:
Moderate

Headline tax rates:
CIT 8.5% (partnership and sole proprietor 0%-11.5%) (cantonal and municipal taxes 6%-24%), PIT 0%-11.5%, VAT 8%

Treaty Jurisdictions:
Albania, Algeria, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Belarus, Belgium, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Ecuador, Egypt, Estonia, Finland, France, Georgia, Germany, Ghana, Greece, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Kazakhstan, Korea, Republic of, Kuwait, Kyrgyzstan, Latvia, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malaysia, Malta, Mexico, Moldova, Mongolia, Montenegro, Morocco, Netherlands, New Zealand, Norway, Pakistan, Philippines, Poland, Portugal, Qatar, Romania, Russia, Serbia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Taiwan, Tajikistan, Thailand, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela, Vietnam

TIEA Jurisdictions:
Andorra, Greenland, Guernsey, Isle of Man, Jersey, San Marino, Seychelles

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