Open a SICAV in Switzerland
Open a SICAV in SwitzerlandUpdated on Tuesday 31st March 2020
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Switzerland represents a top destination for the investors who want to establish an investment fund in Europe. However, it is necessary to know that the country is not a member state of the European Union and, thus, the legislation applicable here for fund domiciliation does not follow the Community’s directives. One of the ways in which an investor can establish a fund here is through an investment company with variable capital (SICAV). In order to incorporate a SICAV, the businessmen will have to meet several requirements and our team of Swiss lawyers can assist in this procedure.
SICAV, an open-ended retail fund in Switzerland
Foreign investors who want to establish a business in Switzerland can invest in a SICAV, which falls under the category of open-ended retail funds, signifying that the future company will not be limited to the issuance of a certain amount of shares.
In order to register a SICAV or another type of fund in Switzerland, the investor will need an approval from the Swiss Financial Market Supervisory Authority (FINMA).
FINMA provides the regulatory framework for the activity of funds in Switzerland and it is also the main body which authorizes these legal entities. It is important to know that a SICAV in Switzerland can be structured as an umbrella fund, which refers to the creation of various sub-funds within the main fund that can have different investment strategies. An important aspect in this situation is that each particular sub-fund will need an approval from FINMA in order to carry its investment policies; our team of Swiss attorneys can offer assistance on the legislation referring to umbrella-funds.
Why register a SICAV in Switzerland?
SICAVs are incorporated in order to provide collective capital investment schemes. A Swiss SICAV can be managed by its founders or it can also be coordinated by a fund management company.
The assets of the fund have to be maintained by a custodian bank which has to respect the following:
• be a Swiss bank;
• received an authorization from FINMA.
Businessmen interested in receiving more details on the registration of a SICAV in Switzerland can address to our Swiss law firm for legal assistance.