Eternity Law International — News — Get Your Trust License in Switzerland

Get Your Trust License in Switzerland

Published:
July 5, 2024

Switzerland has a long-standing reputation for its professional expertise in managing the affairs of the wealthy. The legal and supervisory environment for trusts in Switzerland is changing, as evidenced by the fact that the Federal Council introduced new trust rules in 2020 and proposed the inclusion of trust law in the Swiss Code of Obligations. These two new regimes will strengthen Switzerland’s competitiveness as a financial center and improve the quality, integrity and accountability of the Swiss trust industry, while creating a level competitive environment for trustees. To operate such companies, a trust license Switzerland is required. Below we will consider the main aspects of establishing such structures and obtaining appropriate permission in a given jurisdiction.

For many years, our team has been providing effective Switzerland trust services and other countries. Such structures are a flexible tool that is particularly useful for estate planning and asset protection, making them also useful from a commercial perspective. We are ready to help you in establishing this type of business. In addition, we offer a huge list of ready-made trusts for sale.

Trusts in Switzerland: regulation, operation and licensing

Until now, oversight of trust structures in this jurisdiction has been limited to compliance with anti-money-trafficking obligations. Under the new Switzerland trust law local trust organizations will now have to comply with the requirements regarding the structural and organizational formation of the business, as well as the rules established for conducting business audits. Trusts operating in Switzerland must now register with the local supervisory authority, bring their firm into compliance and apply for a license from the Swiss Financial Market Supervisory Authority (FINMA).

Private trust firms are now tax-exempt, as are structures that handle only family gifting and inheritance. This provision also applies if the beneficiary is a charitable organization. So, how to get trust license in Switzerland?

As part of trust license requirements Switzerland, the following should be highlighted.

  1. The founder of the trust must have a minimum paid-up capital of CHF 100,000. Additionally, there are obligations to maintain an adequate level of financial security and professional liability insurance.
  2. The trust must be administered by at least two qualified directors in good standing.
  3. The firm must develop and maintain effective risk management mechanisms and adequate internal control systems.

In the case of a trust established by a foreign person, the trustee must have a thorough knowledge of international law to fulfill his fiduciary duties. If a firm applies for a separate license as an asset manager while being a financial intermediary, there will be additional requirements for staff and office space.

Our team will provide you with comprehensive professional support in obtaining this type of permit, accompanying you every step of the way. We are also ready to help you open a trust in Luxembourg, Sweden, Denmark, France and other countries.

Before completing trust license application Switzerland, a company must prepare all the necessary documentation. Otherwise, the licensing process may be suspended or slowed down to allow additional information to be collected. If everything is done correctly, the permitting process usually lasts from 4 to 6 months. To obtain trust license Switzerland, it is mandatory to provide the following documents about the persons involved.

  1. Copies of identification documents of the owners and directors of the company.
  2. For foreign citizens: copies of residence permits in Switzerland.
  3. Confirmation of residential address for each owner and director.
  4. Copies of resumes and educational certificates of company owners and directors confirming relevant education and experience.
  5. Certificate of no criminal record issued by local authorities. Foreign citizens who have lived in Switzerland for less than five years must present a police clearance certificate issued by their country of previous residence or country of nationality.

The following documents relating to the applicant company must be properly prepared.

  1. Corporate documents.
  2. A business plan that includes a budget for the next three financial years with optimistic, realistic and pessimistic forecasts, as well as geographic scope and target market.
  3. Information about the premises, infrastructure and personnel of the company.
  4. Proof of origin of funds and information on government deposits.
  5. Detailed information about own shares (structure, distribution, par value, etc.).
  6. Documented operating model (anti-illegal policies, cash flow, data security, etc.) and a description of the hardware and software used for economic activities.
  7. If the application is submitted by a legal representative, a notarized power of attorney (a certified copy of the power of attorney) is required.

Trust license fees Switzerland start from 1,750 euros.

Advantages of Switzerland for establishing and licensing a trust

  1. Trust in Swiss financial institutions. Thanks to its prestigious reputation, a Swiss trust company can establish relationships with large financial institutions such as banks, brokers, credit card companies, etc. on more favorable terms.
  2. Greater customer confidence thanks to the best Swiss security standards, confidentiality and the highest quality of customer services.
  3. The Swiss trust company already has a status that evokes respect and a desire for cooperation on the part of business partners and competitors.
  4. Confidentiality. Since confirmation of share ownership is issued to the bearer, absolute anonymity of the owner is maintained. This method also makes it easy to transfer ownership. In addition, the level of confidentiality is also increased due to the fact that it is almost impossible to know who the true owners of the trust company are.
  5. Asset protection. Because Swiss trust companies offer their owners an unprecedented level of confidentiality and protection, it becomes difficult for outside parties to obtain information about asset owners.
  6. The flexible Swiss trust system is an ideal vehicle for centralized business operations and an excellent solution for storing a wide range of assets, both financial and physical. An unrestricted trust structure allows you to open and maintain bank accounts and conduct business anywhere in the world solely at the discretion of its owners.
  7. Diversity of assets. A Swiss trust company can hold a variety of assets, including real estate, shares, interest in fixed income and cash.

Our company offers professional trust services Switzerland. Our experience and knowledge help us achieve the best results for our clients. Trust license cost Switzerland is calculated individually for each client before the start of cooperation. We also offer an extensive list of ready-made trusts licensed in Hong Kong, India, Great Britain, Malta and other countries. Contact us right now.

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