Cryptocurrency company in Switzerland: benefits in 2021
Many entrepreneurs seek to open a cryptocurrency company in Switzerland because this country is characterized by a stable economic and political situation. Banks of the state guarantee a high level of anonymity to their customers. The country has a high standard of living. A number of cantons have a favorable attitude to cryptocurrency, and there is an opportunity to open a relevant business.
Nuances of registration
Before registering a cryptocurrency company in Switzerland in 2021, it is necessary to get acquainted with the fiscal policy of this country and choose a certain canton in order to optimize taxation. Some cantons, such as Zug and Lucerne, have decided on their attitude to electronic currency, while some have not.
It is important that cryptocurrency holdings file income tax returns and pay property tax. If an individual receives a salary in cryptocurrency, he or she must pay tax as a self-employed person. Mining is taxed on income.
Pros of opening a company
To open a cryptocurrency company in Switzerland, contact our experts at IT-OFFSHORE. We will help you gather all the necessary documents and register a firm in the country of your choice.
The main advantages of business development are the following:
- The country has a positive attitude towards cryptocurrencies;
- There are no plans to prohibit the use of currency;
- Primary placement is treated as an issue of securities;
- Acceptance and sending of currency do require special permission, but it is required to comply with all AML regulations.
One can note the positive attitude of banks toward cryptocurrency institutions. Some financial institutions of the jurisdiction offer futures for electronic currency and the possibility of secure fiduciary storage. It is most profitable to open a company in the canton of Zug. Tax rates are minimal.
How to open a company and what it requires
To register a company a number of requirements need to be met. One of the directors must have the status of a resident of the country. To open a cryptocurrency business, it is most preferable to register an AG company, with a minimum capital of around CHF 100,000.
In order to fully operate a virtual currency business, it is required to obtain a license from AML. The license allows the company to manage on behalf of clients, accept deposits, trade-in securities, open accounts for users, and perform payment transactions.