Switzerland is often considered one of the most suitable locations for incorporating an offshore company along with many other jurisdictions. However, it is a reputable and prestigious jurisdiction with a relatively low tax rate and especially a well-known reputation for the quality and security of its services and is located in the center of Europe.
Though not a common process, changing the legal entity structure of a business in Switzerland is possible. Entrepreneurs who have opened a company in Switzerland are allowed to change the legal structure of the company they formed in Switzerland if needed.
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.
Switzerland has become a preferred destination for investorsdue to its taxation system, geographic and political position, low inflation, low unemployment rate as well as its competitive business environment.
Since Switzerland is the place where many large multinational companies decide to establish their headquarters, due to the favorable taxation system, it comes as no surprise that some of the leading companies in various industry sectors are present in Switzerland.
The pharmaceutical industry has a key role in the Swiss exports industry. In 2014, pharmaceuticals exports amounted to more than 70 billion CHF, which means that about one third of money earned abroad by Switzerland comes from pharmaceutical products.