Work Permit in Switzerland

Since the establishment of the Bilateral Agreements between Switzerland and the European Union, citizens from the EU residing in Switzerland for profit – making purposes, have a legal claim to the access to the Swiss labor market, given that all the required legal conditions are met. The agreements also apply to the states that are members of the European Free Trade Association.

Swiss Asset Management Takes a New Turn in 2020

From January 1, 2020. The Swiss Financial Institutions Act (FinIA) and the Swiss Financial Services Act (FinSA) entered into force, updating the regulatory regime for trustees working in Switzerland. This means that all independent portfolio managers (PMs) and trustees subject to supervision under FinIA will have to be supervised by a Supervised organisations (SO) authorised by FINMA and get licensed by FINMA before they can be able to carry out their activities as financial intermediaries in Switzerland.

Closing a business in Switzerland

Despite Switzerland having one of the best business environments in the world, some businesses still find themselves having to shut down their Swiss operations for various reasons. Such circumstances are usually a result of mismanagement of the company, bankruptcy, disputes or loss of interest by the investors among many other reasons. The Swiss government has put in place several laws and regulations that apply to companies undergoing insolvency and closure. These rules address issues such as the responsibilities of directors and mechanisms to utilise when declaring bankruptcy.

Investment climate in Switzerland

The Swiss economy is, according to the ratings made by international specialized institutions, among the most competitive, innovative and liberal. The main features that give Switzerland a privileged business environment, tailored to high- quality products and services are the excellent level of security offered by business law, long-term stability of the investment framework, full guarantee of property rights, fair competition, and banking secrecy.