Switzerland

Population:

7.5 million

Currency:

Swiss Franc; US$1 = 1.24 Swiss francs (mid-2005)

Language:

German, French, Italian

Time zone:

GMT plus 1 hour

Centre's expertise:

International financial centre; world leader for wealth management

General requirements

Type of entity

Stock company (equivalent to US corporation or UK plc.)

Type of law

Civil  Law

Shelf company available

Not recommended

Time to establish a new company

2 weeks up to 1 month

Taxation

Standard: 14 - 30% (substantially reduced rates for special tax status)

Double taxation agreements

Yes, many

Forex restrictions

None

Language & name restrictions on companies

Yes

Share capital

Permitted currencies

Swiss francs

Minimum paid up

50,000 Swiss francs respectively 20% of statutory share capital

Usual authorized capital

100,000 Swiss francs

Directors and personnel

Minimum number

1 (board of directors)

Local required

Yes (exceptions for holding companies)

Company secretary & qualifications

No

Shareholders and AGM

Minimum number

3 (at the time of formation), 1 (after formation permitted)

Disclosure requirements

No (save for companies listed on a Swiss stock exchange)

Publicly accessible records

Basically no

Obligations for annual meetings

Yes

Location of AGM

At the registered office of the company (in general)

Accounts

Requirement to prepare

Yes

Audit requirements

Yes

Account filing obligations

Yes

Publicly accessible accounts

No (except for shareholders)

Other

Requirements to file annual return

Yes

Change in domicile permitted

Yes

Need to registered office

Yes

Number of companies set up in last year

n.a.

Total number of companies on register

n.a.