Why choose Zurich?
Zurich is a Swiss canton well-known for its developed economy. A lot of business transactions and operations are performed in it and many developed and successful companies are established here. There is a moderate corporate taxation in this canton as well as moderate tax for individuals. Also, Zurich has incredibly developed infrastructure and is well-connected to the majority of other countries, which makes it a perfect location for doing business.
Most common company types in Zurich
The most frequently chosen forms of business in Zurich are AG, or public limited companies, and GmbH which are limited liability companies.
To establish a GmbH, share capital has to be at least CHF20,000 and fully paid at registration. The company has to be represented by at least one Swiss resident and there has to be at least one individual or corporate body for the company establishment. It is compulsory for GmbH to register in the Swiss Commercial Register otherwise no commercial activities are permitted. The members’ liability depends on their contribution to the capital. The highest governing body for such a company would be the general shareholders meeting. However, the management board and the auditors are alsol the representatives of the company. GmbH will have articles of association that contain such information as the name and address of the company, the amount of the capital and also the reason for the establishment. The audit is not compulsory unless two of the following conditions occur after two years of functioning: the revenue exceeds CHF20 millions, or the balance sheet counts for more than CHF10 millions, or there are more than 50 full-time employees in the company.
For AG, the minimum share capital is CHF100,000 and at least half of this ought to be paid at registration. The general shareholders’ meeting is responsible for decision-making, and decisions are then executed by the board of directors. It is also required to appoint auditors with the aim of checking financial statements. The conditions for audit appointment are the same as in a GmbH case, but with an AG all of them have to occur. In the case of an AG, the articles of association contain the following data: unique name and registered office, the share capital and the contribution of each shareholder and also share descriptions or any details regarding them. Another similarity with a GmbH here is that it is compulsory to register in the commercial register.
Swiss company in Zurich and formation procedure
In order to establish a company in Zurich, there are a few easy steps to be followed:
- Choice of the company name
It has to be unique.
- Document preparation for registering in the commercial register
To prepare all the documents correctly it is advisable to seek assistance from the bank or a lawyer. If the person establishing the business prefers to prepare all the documents by him/herself, they must be inspected by the Commercial Registry Office afterwards, which will cost around CHF200-300 and take around a week to be done. After the documents are checked and approved, they have to be signed in front of a notary, and the capital has to be deposited in the bank. The receipt can then be used as a proof that the capital was paid. After these procedures are completed, it will take a maximum of a week for the Commercial Registry Office to consider the documents and issue a registration certificate.
- Registration for social insurance
- Application for VAT number
Swiss company Zurich formation procedure is not complicated and does not require much effort. However, if you feel like you need assistance and clarity on some questions, please contact Goldblum and Partners, and our specialists will help you with any difficulties you may face.