Set Up a Jewelry Business in Switzerland
Set Up a Jewelry Business in SwitzerlandUpdated on Monday 03rd September 2018
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The jewelry industry in Switzerland is expected to obtain revenues of $451 million in 2018. This will represent an increase of 3,1% on a year to year basis. Those who want to open a business in Switzerland in the jewelry sector should know that the country is seen as one of the main destinations for this industry, as the jurisdiction is recognized at a global level for its fine, high-quality products.
What are the characteristics of the Swiss jewelry sector?
Our team of lawyers in Switzerland can advise on the registration requirements available for this type of business, but prior to starting any business activity in this country it is necessary to know the main characteristics of the jewelry market. Regarding this matter, it is necessary to acknowledge the following:
- • Swiss consumers prefer to purchase jewelry products from trusted companies;
- • an increased demand for online jewelry purchases has been observed, especially for mid-priced products and costume jewelry;
- • the leading positions in this sector are occupied by large multinational companies, with a long tradition in the industry;
- • retailers are also very well represented on the local market, especially in the costume jewelry sector.
Manufacturing jewelry products in Switzerland
When opening a company in Switzerland that manufactures, sells or exports jewelry products it will be necessary to comply with specific local standards. As a general rule, Swiss consumers prefer gold products made out of 18 carat gold. Our team of Swiss lawyers can advise on the main regulations related to the manufacture of jewelry products.
It is important to know that Switzerland imposes restrictions regarding the usage of nickel in the manufacturing of jewelry products (an alloy that is generally used for gold products). Thus, jewelry companies may only use a maximum of 0,5 micrograms of nickel per centimeter square, as prescribed by the Swiss Ordinance.
The same regulation is also available for the import of jewelry products into Switzerland or for trading across European states, as per EU Directive 94/27/EC, due to the fact that nickel is harmful for human health. The Swiss legislation on this matter was updated in 2002, following the European Union’s (EU) model and it takes into consideration various types of jewelry products, such as rings, earrings or belts. Businessmen are invited to contact our law firm in Switzerland for more information related to this topic.