Recently, Switzerland adopted a new DLT Regulations which sets the country as a leader in FinTech, Blockchain, DLT Technologies and other related programs. The new regulations will enter into force starting from this year.
Recently The Swiss Financial Market Supervisory Authority FINMA introduced a new regulation act under which is implementing the Financial Services Act FinSA and the Financial Institutions Act FinIA. Additionally, it is also issuing a new FINMA Financial Institutions Ordinance. They are supposed to enter into force on 1 January 2021.
The Swiss banking sector is key in strengthening the swiss economy. Switzerland is well known for its diversified financial services, privacy and sophistication. Swiss banks are actively engaged in a range of activities, in relation with both the private and commercial domain. At present, Switzerland is one of the leading countries in private banking.
Learn more about the business bank account in Switzerland, who should use it and why it's important to have a separate business bank account to incorporate in Switzerland.
Automatic Exchange of Information - how it affects natural persons with bank accounts in Switzerland
The principles of the Automatic Exchange of Information, how it is applied in Switzerland and what does it mean for natural persons who have a bank account in Switzerland.
Banks are part of Swiss culture since 16th century, therefore there is no surprise that the Swiss banking system is one of the biggest strengths of the country. The Swiss banking system is different than other European banking systems because it is based on the universal banking concept. This concept refers to offering all the banking services both commercial and investment. This is so that the risk to be spread over a greater number of business and customers.