Success tips when doing business in Switzerland in 2021
Healy Consultants recommends the following points to all our Clients engaging in a Switzerland company setup:
- Majority of Swiss (63% of the population) speaks German and as it is a lingua franca, it is recommended that our Client speaks in German for business communications;
- Before going for a business meeting, you should inquire about the English-language proficiency of a business man beforehand as not all Swiss can speak English; 63% of the Swiss population speaks German, followed by 23% speaks French and 8% speaks Italian; Hence, if necessary, arrange for an interpreter;
- Swiss business setting is unusually formal. Therefore, our Client should keep in mind about business formalities during meetings including addressing by their professional titles unless requested otherwise;
- Switzerland businessmen are one of the most punctual people. It is expected that you arrive at the business meeting at precisely the appointment time, not too late nor early.
Interesting facts about Switzerland
- Switzerland has four national languages – German, Italian, French and Romansh;
- Based of Purchasing Power Parity, Switzerland is the 11th richest nation in the world;
- The capital of Switzerland is not Zurich, but Bern. Zürich is the largest city in Switzerland;
- Red Cross was formed in 1863 in Geneva, Switzerland; the flag of Red Cross is an inverted Swiss flag;
- Switzerland has a rich history of watch making; wrist watches were invented in the country in 1755. The oldest watch maker in the world is also a Swiss company Vacheron Constantin;
- Lake Geneva has had more than 40 ship wrecks and the ships can still be seen underwater.
Frequently asked questions
How many directors are required for starting a business in Switzerland?Only 1 director is required when registering a company in Switzerland.
How many shareholders are required for registering a company in Switzerland?Only 1 shareholder is required for business registration in Switzerland.
Is it mandatory to have a resident director or shareholder for Company Registration in Switzerland?Both Switzerland LLC and AG must appoint a resident director. However, only an AG is mandated to have a majority of its shareholders as Swiss residents. As company registration agents, Healy Consultants will provide our Clients with this nominee director or shareholder service for €8,500 per annum.
Will details of my business registration in Switzerland be available for public viewing?Yes, in order to start a Switzerland company, an entrepreneur must enter the business details in the public register.
Is a Switzerland registered company a secure, long-term investment?Yes. Switzerland is amongst the most developed countries in the world. Furthermore, the country closely adheres to free market policies like low taxation and high labor market flexibility.
Are there any ownership restrictions on foreigners who register a Swiss company?No. 100% foreign ownership is allowed if you wish to setup your business in Switzerland.
Do I need local shareholders for Switzerland business setup?No. Our Clients can setup a business in Switzerland that is fully foreign owned. A Swiss LLC can be setup with only 1 shareholder and 1 director. The director however, must be resident in Switzerland.
Will I have to travel to start a Switzerland business?No. Healy Consultants can provide Switzerland business setup services without our Client having to travel to Switzerland.