Why Switzerland?
Advantages
- Openness. Switzerland traditionally adheres to the policy of openness in relation to direct foreign investments, striving for free trade and international competition.
- Positive attitude towards virtual assets. Although they are not official means of payment in Switzerland, the country actively supports innovations in the field of cryptocurrencies. For example, the city of Zurich became the first state organization to accept bitcoin as a means of payment in 2016.
- The launch of the project here is quite fast. Thanks to the absence of the need to obtain special cryptolicense, the launch of projects in Switzerland can be faster than in other jurisdictions.
- Legal stability. The legislation of Switzerland is characterized by high predictability and stability. Laws do not change as rapidly as in other countries, which reduces business risks and allows building long-term strategies without the fear of sudden regulatory changes.
Restrictions
- Instability and low level of corruption. Switzerland occupies 5th place from 180 in the Corruption Perceptions Index, which indicates an extremely low level of corruption.
- There is no special regulation in relation to mining and DAO. There is no special regulation for cryptocurrency mining and DAO in Switzerland. Although this may provide flexibility for innovations, the absence of clear regulatory frameworks can create uncertainty for some businesses.
- English language - unofficial. The official languages of Switzerland are German, French, Italian and Romansh. Although English is widely used in the business environment, its official status is absent, which may require additional efforts for business.
Who is Switzerland suitable for
- Token issuers.
- Cryptobridges and exchanges.
- P2P platforms.
- Cryptowallets and depositories.
- Cryptofunds and investment companies.
- Broker-dealers.
Cost
The level of expenses for legalization in the jurisdiction is average
- State fee for company creation: from USD 96 to USD 500
- Authorized capital: from USD 23,800 to USD 119,000
- State fee for consideration of the application for a license: from USD 2,340 to USD 5,850
- Annual state fee for a license: on average from USD 2,340 to USD 5,850
Main stages of legalization
Company registration in Switzerland
- Choosing a name.
- Payment of authorized capital.
- Submission of documents for registration in the register.
- Consideration of the application.
- Receipt of documents.
Cryptolicense in Switzerland
- Preparation of the main package of documentation and submission of the application.
- Consideration of the application by the regulator
- Final approval by the regulator
- Post-licensing compliance with requirements.