Why it is profitable to start a business in Switzerland in 2020
Switzerland is famous for its four unique products: watches, cheese, chocolate and the world's most reliable banking system. Despite its disadvantaged geographical location, lack of access to the sea, and limited natural resources, Switzerland's economic performance ranks first in Europe. Even foreign nationals who do not plan to become residents can register in Switzerland in 2020; all they need to do is to comply with the requirements and find at least one local director.
Why start a business in Switzerland?
- The country's high level of economic development and its lack of dependence on natural resource exports.
- Political neutrality that creates a comfortable business environment for foreign entrepreneurs.
- A high standard of living and, consequently, the good-paying capacity of potential consumers of goods and services.
- Flexible taxation system.
- Possibility to receive state benefits and subsidies for business development.
- The world's best banking and legal systems.
- Absence of corruption and bureaucratic delays.
- High level of prestige of jurisdiction.
In Switzerland, you can open an Einzelfirma, GmbH or AG, but before starting the company registration process, a competent business plan must be developed and approved by a specialized service. This compulsory measure is necessary in order to minimize the emergence of companies whose activities are doomed to failure in advance.
Requirements for non-residents planning to start a business in Switzerland
- Availability of a category C residence permit.
- The presence of an equivalent partner (shareholder or participant) in the company's management bodies - a citizen of the country.
- Marriage with a resident of Switzerland.
- Approved business plan, assuming a positive contribution from the organization's activity to the country's economy (creation of at least 3 jobs for indigenous people, investment in the regional economy, high level of education and experience of the owner, demand for the company's sphere of activity).
In 2020 the most relevant for Switzerland are medical and financial goods and services, activities in agriculture, engineering, hotel business, IT and chemical industry. The list can vary from region to region, which is why the entrepreneur needs to carefully analyze both the specifics of the jurisdiction as a whole and the markets of the individual entities before establishing a company in Switzerland in 2020.
The support of professionals is not superfluous. IT-OFFSHORE has good experience of incorporating companies in Europe and is ready to provide its clients with all necessary assistance. In addition, IT-OFFSHORE specialists can give an overview of the three-stage taxation system in the country.
How do I register a business in Switzerland?
- Develop a competitive business plan.
- Find a memorable and unique name for your future firm.
- Obtain the foundation agreement in accordance with the legal requirements.
- Submit a set of documents along with completed questionnaires to the registration authority (can be done remotely).
- Open a local bank account and deposit at least CHF 100,000 in the share capital.