Starting a business in Switzerland: foreigner's guide (2026)

The Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners (LETRA) is expected to enter into force in autumn 2026 on a date to be set by the Federal Council, obliging over 500,000 Swiss legal entities to register their ultimate beneficial owners (25%+ ownership or voting rights) in a new non-public central federal register. This is the most significant new compliance obligation at company formation since the 2008 GmbH reform.

Both chambers of the Federal Assembly adopted LETRA, establishing Switzerland's first central non-public federal register of beneficial owners to bring Switzerland into compliance with FATF recommendations on AML transparency. Every newly incorporated company must identify and disclose natural persons who ultimately own or control it at registration.

The two-year grace period for existing stock corporations (AG) and limited liability companies (GmbH) to align their articles of association with the January 2023 company law reform expired. Companies that had not updated their statutes risked having outdated provisions automatically overridden by the new Code of Obligations.

The most sweeping overhaul of AG and GmbH law since 2008 came into force, introducing: a capital band (board can raise or cut share capital by up to 50% over five years), multi-currency share capital (EUR, USD, GBP, JPY), explicit legal basis for virtual general meetings, mandatory non-financial reporting for large listed companies, and enhanced minority shareholder rights. Registration timelines and capital flexibility were significantly modernized.

A revised HRegV replaced the 2007 version, abolishing all provisions allowing 'blocking' of the commercial register, extending filing rights to all persons holding signing authority (not just board members), and reducing administrative fees. These changes streamlined the practical incorporation process and cut the back-and-forth between founders and cantonal register offices.

SECO launched EasyGov.swiss, Switzerland's first integrated digital portal enabling founders to complete all mandatory official procedures for starting a company — commercial register application, VAT registration, AHV/social insurance, and accident insurance — through a single online account. By 2020 over 110,000 companies had registered on the platform, substantially reducing incorporation paperwork.

A revised accounting title of the Code of Obligations (adopted by Parliament in December 2011) entered into force, replacing the previous form-based approach with a financial-size threshold model: all legal entities must keep accounts, but detailed financial statements and audit requirements scale with annual revenues and headcount. Founders gained the option to prepare accounts in foreign currencies and in English.

The Federal Act of 16 December 2005 amending GmbH law entered into force, transforming the Swiss GmbH from an obscure and cumbersome form into a flexible, transparent vehicle widely comparable to the German GmbH: minimum capital CHF 20,000 (fully paid-up), single-member GmbH permitted, named shareholder register mandatory, and streamlined notarization procedures. The GmbH quickly became the dominant choice for new SMEs and startups.

The Swiss Code of Obligations (Obligationenrecht, OR), adopted on 30 March 1911, entered into force, establishing the complete foundational framework for company formation in Switzerland — AG (Aktiengesellschaft), partnerships, and cooperative law. The OR remains the primary source of Swiss company law to this day, with all subsequent reforms implemented as amendments to this single federal code.