This article will explain how to start a business in Switzerland being an expatriate and list the main necessary points.
- Draw up a farsighted business plan. The first important benchmark on the road to your success is to introduce an assertive and thought-out business plan. All your ideas in the plan must be commonsensible and rational. Local authorities have to be provided with persuasive facts that your prospective enterprise will not just survive the initial stage of its existence but will grow and prosper in the future with every little obstacle taken into consideration. In addition, this will be helpful while your application for any credit in order to get your business started.
- Any law firm in Zurich will confirm that the foundation of your own enterprise in Switzerland requires a Swiss resident. Namely, the local cantonal authority provides you with a B residence permit that can be actual until 5 years from the moment when you get it. If you are not a European or EFTA national then there are three points that will permit you to do your business in the country. The first one is to get a C settlement permit. The second is if you are a spouse of a local citizen or a C permit holder. And the third point is when you are already a valid entrepreneur who wants to contribute a lump sum tax payment of at least 150 thousand Swiss francs.
In the event that you don’t belong to European and EFTA nationals and at the same time you do not comply with the above-listed requirements then you will be bound to apply to the local cantonal authority showing them the persuasive advantages and benefits of your future enterprise for the local economy in general including a labor market in particular. In case you succeed then you can make your application for a B residence permit. Moreover, there are some cases when an applicant may get a short-run L permit that will be valid for up to 2 years. However, all these may look quite sophisticated, so that as an option you may apply to local law firms, which may provide you with nominee services. By doing this you may be sure that everything will be arranged quickly and on a high level.
- Make up your mind about your business legal structure. Further, you need to find out, study and decide on a legal business structure, which is most relevant to your business plan.
- Meet the requirements of local business registration. Every business in the country must have a registered company name. It can be performed through a certain online website. When you create a name for your company please take into account that it must be one of a kind. In order to avoid any confusion in the future you may have a look at the existing list of company names at the Central Business Name Index. Sole proprietorship enterprise names must include the name of the business founder and in case of a partnership a name must enclose the name of at least one of the partners. Swiss Business and Enterprise Register will hold your company in its list automatically after registration and will assign your company an Identification Number UID.
In case when your business legal structure is not a sole proprietorship and your annual turnover is more than 100 thousand Swiss francs then your enterprise must be present in the commercial register. In general, all registration requirements differ depending upon the business’s legal structure, but some features including the provision of your company name, the year of foundation, business address, and the list of members of the board are the same for all types of business legal structures.
Prices of registration at the commercial register: Sole proprietorship 120 francs, Partnerships 240 francs, Cooperatives 400 francs, Limited companies 600 francs.
Limited enterprises have more requirements in comparison with other business legal structures. These requirements include articles of association, the creation of an escrow account, and the appointment of a notary for verification of legal documents.
Tax and social security require all businesses in Switzerland to have a registration as well. Business insurance here is not an exception.
Some sectors of business demand certain licenses for operation. For instance, all financial enterprises must have a special license from the Swiss Financial Market Supervisory Authority, or when it comes to alcohol all businesses are required to have a permit from the Swiss Alcohol Board.
Online business in Switzerland
Let us take an online business in Switzerland as an example. The new era is characterized by the digital style that came into many aspects of our lives and is becoming more and more popular nowadays. The Foundation of any online business has become an option to a traditional type that must have a physical address. Having an online enterprise grants you a huge benefit as far as expenses for utilities and rent are concerned.
The overall quantity of electronic businesses grows every day in the world and Switzerland is not an exception. The year 2021 stated that electronic enterprise within retail business ranged to 15% of all trade. All arrangements focused to set up your e-commerce are very similar to those meant for a traditional type of business in terms of such issues as getting a visa or requirements for registration. The main difference is that instead of looking for a place for your office or craftsmanship you will need to find a certain website where you will perform your business after registering your domain name. Another important moment is that such kind of business requires a skilled web designer who will create any website in accordance with your requirements. Virtual office providers growing fast in Switzerland. They may provide you with your official business address including many other services, for example, answering phone calls and e-mails. Online retailers may use eBay and other suchlike platforms.
Conclusions
In conclusion from the list above, we must admit that starting your business in Switzerland is just a matter of your concern and confidence. Initial stages including different registrations are the most sophisticated part of it but once you succeed in it you may be sure that your enterprise will prosper taking into consideration that any support from the government will be always near.