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Why You Want To Incorporate In Switzerland

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Switzerland has always been an ideal place for incorporation and business activities. Not only is the country a highly credible business locale, but it is also a favourable location for paying taxes. Formation of a corporation in the country is reasonable and bearer shares can be issued as well. Compliance requirements are minimal and the shareholders of a firm can be companies or individuals. As you can see, the country is one place a business can thrive.

When you opt for incorporation in the country too, you only need to have one director on your board of directors. Plus, you do not need to provide any authority-supplied data before incorporation. No restrictions are placed on where meetings for a company are held and both private and public companies can be incorporated.

A Little Bit about the Swiss Government

The two main principles of the Constitution of Switzerland of 1874 are democracy and federalism. The country’s Constitution allows each canton to exercises governmental powers that are not delegated to the government on the federal level. The three primary sectors of the country’s national governing body are: the Federal Council, the Federal Tribunal and the Federal Assembly. The Federal Council is the country’s executive body and is made up of seven individuals, each of whom is elected to a four-year term by the country’s legislature.

Where You Can Incorporate

Also, company incorporation in Switzerland is available in every canton. The country of Switzerland itself is considered to be a federal republic and is known officially as the Swiss Confederation. Switzerland is separated into 26 cantons and each canton and community has a different system of taxation. Total population in the whole country falls at around 7 million.

A Thriving Place to Do Business

Businesses like to incorporate in Switzerland because the country features a stable and prosperous economy. The economy has a per capita GDP that is around 10% higher than other countries in Western Europe. Countries also congregate to incorporate in Switzerland as the country is multilingual. The languages of German, Italian, and French are the three official languages of Switzerland. Romansch, yet another official language, is a Rhaeto-Romance spin-off of Latin.

Financial institutions like to base themselves in Switzerland as they do not worry about any exchange controls, thereby making the Swiss franc a business-friendly piece of currency. You can retain a firm to manage all aspects of incorporation as well as company registration. Companies that oversee incorporation can assist you in the preparation of a variety of legal documentation as well. They can help with the formation legal and fiduciary agreements and manage the opening of accounts at financial institutions and banks.

How Incorporation Works

A company that manages incorporation usually establishes a Chart of Accounts and sets up an accounting mandate. Under the Swiss legal system, accounting files and records must be maintained in the country.

Incorporation companies also assist in establishing a business plan, registering companies for VAT, setting up financial reporting formats, operational policies for the payment of invoices, and the handling of bookkeeping records. After formation of a company, an incorporation firm handles the administration of services, each of which is covered under an administration agreement.

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