Eternity Law International News SEMI license in Switzerland

SEMI license in Switzerland

Published:
February 6, 2024

Local authoritative bodies are precisely controlling the dynamically-developing FinTech-market and are quickly reacting to innovative developments. Laws regulating business-activities of providers, operators-issuers of e-money and payment mechanisms are periodically adjusted following norms and standards of current time. Permits from the country’s official body FINMA are becoming mandatory for FinTech-banks, crypto-exchanges and other organizations operating in this innovative niche.

Our team is first-class professionals in field of establishing and licensing organizations worldwide. We function to achieve perfect results for our clients. Our experts provide you with highly-professional advice on all issues related to SEMI licenses in Ireland, Germany, Portugal and other countries. We’re ready to grant you the option of sale of a small electronic money issuer license in Switzerland as a ready-made business-project.

SEMI license in Switzerland: getting procedure

In case of direct interaction of local firms with client finances, business-structure is considered as a banking deal, requiring an appropriate permit. Despite fact that e-monetary means isn’t officially considered legal tender, its acceptance and storage are considered of deposit-nature subject to a banking permit. Exception is working with customer balances where the amount doesn’t exceed 3,000 local francs, or using funds solely to pay for goods without providing them to customers.

It isn’t mandatory to obtain a SEMI license in Switzerland if activity cannot be classified as a commercial acceptance of deposits in the equivalent of e-money. It’s acceptable if:

  • credit accounts are used exclusively for user without accruing interest on balances;
  • amount accepted doesn’t exceed the equivalent of a million francs, the total number of deposits is limited to 20, and payments aren’t not used for investment, and the owner doesn’t not receive interest;
  • operator informs clients that deposits aren’t not subject to regulatory control and aren’t not covered by insurance.

Getting a “fully-covering” permit locally is an expensive and complex option. There’s an alternative for entrepreneurs and start-ups: firms accepting deposits of up to 100 million francs might get a special permit with a small initial capital of 300 thousand francs; it  makes entry into the industry easier.

Virtual funds platforms, incl. those enabling customers to create accounts and wallets and conduct wire transfers, are needed to meet AML/KYC normative mechanisms. Such correspondence is strictly controlled by local regulative bodies. To get a SEMI license in Switzerland, organizations need to design corresponding policies and procedures.

  1. Establish a really-registered office locally and conduct key business-activities within local territories.
  2. Prepare documentation describing the business-model and risks connected with technologies used.
  3. Create mechanisms for correspondence with GDPR-rules for personal data of EU-residents.
  4. Cerate an account in an EU-bank and so on.

We’re ready to offer you a Switzerland SEMI licensed company for sale. We’ll give you comprehensively-covering advice on issues related to SEMI licenses in the UK, Latvia, Portugal and others.

Privileges of SEMI license in Switzerland

  1. Access to EU market-space: holding this permit provides free-obtained access to EU single market-space, allowing firms to freely spread services in EU-member states and significantly expand their presence.
  2. Diversification of services: permit holders might offer a wide diversity of services, incl. issuing e-money, granting assistance in e-payments and vengings. Such flexibility is particularly appealing to FinTech-companies looking to expand their business-portfolio.
  3. Enhanced image: possessing such permit enhances the credibility of a registered firm, instilling trust among clients and potential partners. Increasing business-image helps to establish partnerships and attract clients.
  4. Operational autonomy: permit holders gain control over their transactions, reducing dependence on third-party systems and guaranteeing meeting customer desires.

How to get SEMI license in Switzerland

A small electronic money issuer license in Switzerland allows capital-holders to implement a diversity of business-models, not limited to a specific category of business-activity. Getting it is easier than a fully-covering banking permit, but grants similar rights for FinTech-companies.

To obtain SEMI license in Switzerland, capital-holders need to complete next-mentioned phases:

  • officially launch a firm locally;
  • create an account at a local bank;
  • possess initial capital of 300,000 CHF;
  • run business-activities locally;
  • possess an office locally;
  • comply with AML/KYC mechanisms ;
  • hire a director-resident and local personnel;
  • design internal mechanisms and policies according to normative parameters of regulative body.

We’ll accompany every your step. Our team is ready to offer interested entrepreneurs to get a small electronic money issuer license in Switzerland for sale.

Documentation needed

  1. Firm Statute.
  2. Confirmation of initial capital.
  3. Business-plan  for 3 years.
  4. Description of firm structural peculiarities.
  5. Resumes of directors and shareholders, confirmation of their qualifications, and certificates of no criminal records or debts.
  6. Developed methods for resolving disputes following Swiss law.
  7. Internal policies and procedures.
  8. Audit documentation.
  9. Confirmation of source of shareholders’ funds.
  10. Documentation confirming payment of duties.

Our team is ready to grant a full range of services for firms wishing to get ready-made Switzerland SEMI licensed company.

  1. Lawyer consultancy.
  2. Fully-covering support.
  3. Assistance in preparing documentation to get a permit.
  4. Creation of banking accounts.
  5. Enterprises establishment.
  6. Coordination with FINMA prior to getting a permit.
  7. Ready SEMI license in Switzerland for sale.

You might contact us via online-chat, by sending a message using a special form, and by the indicated telephone numbers. We grant the option of a ready-made SEMI license in Switzerland for sale, and favorable offers for SEMI licenses in the Czech Republic, Germany, Spain, Italy, Poland, Portugal and others.

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