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.
Each state has the sovereign right to levy taxes, which means that it has to deal with certain tax issues that concern not only its own citizens, but also citizens that are non-residents who occasionally or temporarily earn income in the respective state.
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.
In Switzerland, the business culture it is above all other personal relations. The Swiss business values refer to punctuality, sobriety, responsibility honesty and hard work. This is why is important to know the business culture before starting a new business relationship with a Swiss client or partner. Here are the top 10 things to know about Swiss business culture.
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.
With a stable economy, Swiss unemployment rate is one of the lowest in the world, standing at 3.7 percent in January 2017, with average unemployment typically lower in German-speaking Switzerland (3.1 percent) than in French and Italian-speaking Swiss cantons (5 percent).
More than 60% of the people prefer to rent a house in Switzerland; therefore buying a house is not a common thing. Oddly enough, in some of the most popular Swiss cities such as Zurich, Basel or Geneva, there are even less property owners. The number of property owners is larger in rural areas an lower in popular cities, also due to the constant growth rate of urban population in Switzerland over the last years. Thus, pressure on limited available houses has also increased.
The legal structure of a Swiss Holding Company is meant to allow the said company to manage financial investments for long for the long run in other affiliated companies. For a company to be classified as a Swiss holding company under the provisions of the Swiss legislation, it is required that the respective company doesn’t conduct business activities in Switzerland.
Switzerland has become a preferred destination for investors due to its taxation system, geographic and political position, low inflation, low unemployment rate as well as its competitive business environment.
The EU card it is basically a work and residence permit created by the European Union for the non-European citizens in order to allow them to work within European Union countries.
