Setting Up a Business in Switzerland
If you contemplate setting up your own business, it is highly important to have an ideal business location in mind. However, with lots of possible options to choose from, you might end up stressed and confused. The choice of location can make or break your business, so it is imperative to make the necessary assessments and evaluations to ensure that you will end up with the most effective solution. Setting up a business in Switzerland can be a practical option, for this country certainly enjoys an unrivalled business reputation.
This has captivated the interest and attention of many investors; therefore, they are convinced to make a brand new start in business here. Switzerland is also recognized as one of the leading investment locations in Europe, and lots of major organizations and companies are headquatered and operating here. Although Switzerland is usually known for premium quality chocolates, Swiss watches and banking, there are still many other establishments found in every state.
You can find various types of businesses in Switzerland, ranging from groceries, fashion stores and up to software development businesses. The Constitution of this country allows freedom of industry and trade to all regardless of their nationalities. This simply means that even foreign citizens are welcomed and allowed to start and operate their own business in Switzerland. However, incorporating business in this country is sometimes slightly complicated, as compared to other states in Europe. Professional assistance is therefore provided to individuals planning to start a business endeavor here. They are given the support and education that they need on how to open a legal entity or business in Switzerland.
Business in Switzerland —Reasons to Set Up and Start
Switzerland has historically developed an attractive and impressive business environment. There are several definite reasons why establishing a new company or business in this ideal location is considered to be extremely advantageous. These reasons are as follow:
- Economic and political stability
- Great banking system
- Exceptional attitude to privacy and freedom
- Reasonable tax rates
- Ultimate safety and high-quality lifestyle.
- High-level infrastructure
- Sustainable environment
- Motivated and professional multilingual workforce
Only one shareholder or founder is required to integrate a legal business in Switzerland. Having a Swiss nationality is not obligatory in order to get a residence permit, but one managing director or any member of the board of directors has to reside in the country, although nationality is actually not a big issue.
Important Pointers for Opening Legal Entities in Switzerland
The process of setting up and operating a legal entity in Switzerland can turn out to be faster and easier, especially if you consider the following pointers:
- Determine the type of company or business you are planning to open and operate. Limited liability business or joint stock has certain encouraging features but the choice will still depend on your unique business needs.
- Decide on the specific area where the business will be nestled. This aspect is of extreme importance as each region in Switzerland got independent tax and legislation system.
- Fill in a business registration form for the Swiss Company Register. The Registry Court will then check if the particular name given to your future business is available. The court also determines if all business-related documents are correct.
In relation to registration of your Swiss business or company, you will need to submit certain documents that include the following:
- Articles of Association
- Memorandum of Association
- Capital Deposit Bank Confirmation
- Approval statement for appointed CEO
- Notarized signature of company’s representative
How Long Does Establishing a Swiss Business Take?
Once the Registry Court in Switzerland has approved the name chosen for your company and you have prepared and secured all the documents needed, your business can possibly be established in two weeks. However, you need to be prepared for the complete procedure to be followed for a couple of weeks. To open a business in Switzerland, you need to deal and keep in touch with third parties, such as Registry Court, Swiss banks, local authorities, and lawyers. This explains the reason why the process of opening up a business can sometimes be time-consuming.
Possible Business Opportunities to Take
There are countless types of businesses that you can pursue in Switzerland. The following can be the most profitable ventures you can consider:
- Franchise Business
This type of business involves using another successful business model in creating your own, such as a shop, restaurant and others. Franchises are fixed for a given period ranging from 5 to 35 years, and you are required to cover a specific location. Pursuing this type of business in Switzerland can be a very profitable venture.
- Online Business
This covers a large percentage of the Swiss industry and is considered to be one of its major players. Since online business somehow covers a different scope as compared to regular types of businesses, you need to be guided accordingly prior to starting operation.
- Home-Based Business
This one occupies a large part in the Swiss business community, and with thousands of telecommuters you will surely be convinced to start up. This type of business offers greater convenience and flexibility. At the same time, it guarantees a new and lucrative career. If you are planning to start this business, you need to maximize your success chances by exploring the risks, complying with government requirements and all business-related concerns that apply to you. These might include business finance, insurance, employment, taxation, and many more.
These are just a few of the many types of businesses you can pursue in Switzerland. You can also be an independent contractor, service provider, exporter, etc. The success of your business is contingent upon the strategies you adopt and the effort you take. If you have already established your business in Switzerland, try your best to take advantage of the ideal location and excellent business opportunities available to you in this country. In such a way, you can reap the most amazing benefits.