The financial sector in Switzerland is a key component of the local economy. In 2015, companies operating in the Swiss financial industry generated a total value of CHF 60 billion, and the largest share of this sum was created by thebanking companies (CHF 32 billion), followed by insurance companies (CHF 27,9 billion). Banking and insurance represent essential economic sectors for the local economy, alongside with the production of watches, textiles and the tourism field. Our team of lawyers in Switzerlandcan provide legal assistance on the rules of law regulating the incorporation and operation of financial businesses in this country.
Regulatory framework for Swiss financial companies
Legal entities in Switzerland performing economic activities in the Swiss financial sector are regulated under specific rules of law. Companies registered as banking institutions are regulated by the following:
The following video offers a short presentation on the registration of a Swiss financial company:
Specific regulations can also be imposed by the Swiss Financial Market Supervisory Authority (FINMA). The institution is the main regulator for financial activities developed in this country, having the right to supervise companies registered as banking institutions and other related activities. Our team of Swiss lawyerscan offer assistance on the main requirements established by FINMA for financial businesses.
Investors should also consider the fact that the financial sector is very well represented by the wealth management services provided here. The country stands out as a wealth management center, which attracts numerous international clients with a high net-worth value.
Registering an insurance company in Switzerland
One of the possibilities of starting a company in Switzerland in the financial sector is by setting up an insurance company. The field is regulated under the Insurance Supervision Ordinance, which was last modified in 2015.
When registering this type of company, according to the legislation on the matter, foreign investors can benefit from numerous advantages, one of them being that it allows 100% foreign direct investment.
Businessmen can find out more information on Swiss financial sector from our attorneys. Please contact our law firm in Switzerland for professional advice on the policies applicable in this field, as well as on the minimum requirements foreign investors should meet when setting up a financial company.
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