- NEWSLETTER,SINGAPORE
- June 12, 2024
With the climate change crisis intensifying all around the globe, different countries are committing to ambitious sustainable targets. Singapore, one of the global business hubs, stands out with its initiative to achieve net zero emissions by 2050. This is a formidable goal for a small island nation with limited land and natural resources.
The government has developed its Singapore Green Plan 2030, which defines the blueprint of concrete sustainability targets for the next decade. According to this plan, by 2026, the country aims to reduce the amount of waste sent to landfill per capita each day by 20%. The plan also seeks to increase the output of solar energy, while Singapore is likely to turn 80% of its buildings by 2030. Enterprises bracing up for Singapore company formation, therefore, need to align their strategies to these sustainability goals. Over the years, Singapore has turned into an attractive destination for eco-friendly businesses. For enterprises incorporated in Singapore, it’s essential to seek professional support from experts to ensure compliance.
Creating a Sustainable Ecosystem in Singapore
Green Tech Industry in Singapore
Singapore’s Talent Pool Driving its Green Economy
Green Projects Incentives from the Government
Tax Benefits
Financing Schemes and Cash Grants
Different government agencies in Singapore are committed to supporting sustainable businesses in the country. These enterprises are eligible for cash grants that cover various business expenses. For instance, the Resource Efficiency Grant for Emissions (REG(E)) co-funds expenditures for industrial facility projects for verifiable and measurable mitigation of carbon. The government has set a benchmark of at least 500 tonnes of carbon footprint reduction per annum for businesses to qualify for this grant, which would cover around 50% of the qualifying costs. This Grant helps businesses cover a part of their expenses incurred to adhere to mandates related to climate.
The REG(E) was first introduced in 2022 for local companies in the retail, food manufacturing, and food services sectors. During the 2024 Budget, it was extended to other sectors like data centres, maritime, and construction.
The Sustainability Reporting Grant helps businesses with at least S$100 million annual revenue prepare their first sustainability report. It will cover up to 30% of the qualifying cost, while the government capped the amount at S$150,000 per company. For SMEs, a new program will be launched to streamline the path to preparing their first sustainability reports. It will cover as much as 70% of the eligible costs for the first year and 50% for the two subsequent years.
Often, establishing a start-up company in Singapore comes with obligations to meet sustainability goals. Startups and businesses can seek loans up to S$50 million from the Enterprise Financing Scheme – Green to support green projects.
What Should Businesses Expanding to Singapore Do?
Businesses expanding to Singapore often need to invest in new materials, technologies, and processes to comply with the stringent sustainability goals in the country. In the short run, no significant cost savings may be visible. However, enterprises benefit from increased profitability over the long run, along with enhanced brand reputation.
Here’s what businesses expanding to Singapore must do:
- Seek funding: Acquire support from the Enterprise Financing Scheme to support upcoming green projects.
- Cost-effective approach: Take advantage of tax credits and grants on expenses incurred on adopting sustainable practices.
- Position the brand as a leader: Establish the company as a frontrunner in the green economy to attract eco-conscious investors and customers.
During Singapore company formation, forward-thinking businesses seek comprehensive professional support from the IMC Group. With experts guiding them through the complex regulatory norms and helping in maximizing government funding, tax benefits, and credits, businesses can confidently achieve their sustainability goals.
- NEWSLETTER,U.A.E
- June 11, 2024
With the evolving nature of modern risks, family offices strive to adopt a proactive stance to secure finances. Traditionally, these organizations faced risks limited to investment and financial stability. However, wealth owners today face a multiplicity of risks, such as reputational risks, financial risks, issues with physical security, and even online vulnerabilities. While thwarting all these risks completely is almost impossible, a competent single family office in Dubai needs to understand the evolving nature of risks and protect the future generations.
In this edition, we present four essential guidelines for family offices to manage modern risks.
How can Family offices manage new threats to protect future generations?
1. Explore new types of risks
Risks keep evolving when it comes to financial management. For family offices, it’s essential to adapt a rapidly evolving risk management strategy to address technological advancements, geopolitical shifts, and increased mobility. The secret to success lies in introducing innovative risk management strategies and staying abreast with global and regional security trends.
A report published in 2024 found that the biggest risk lies in reputation management, with 27% off respondents citing this threat. Other risks include wealth transfer and succession, and investment returns, each accounting for 22% of the threats.
Understanding new types of risks can help Single Family Office in Singapore address emerging threats.
2. Establishing a comprehensive strategy to manage risks
Family offices should work on a comprehensive strategy to manage risks, addressing threats like digital, physical, reputational, and emotional security. Thus, a multi-layered approach is essential, including the implementation of robust cybersecurity strategies, securing physical premises, and protecting the reputation of a family. At the same time, the strategy should ensure the emotional well-being of the staff and family members.
This is why it’s essential to partner with the right service provider like the IMC Group. Professionals with a proven track record and expertise can significantly enhance the risk management capabilities of a family office.
3. Establishing a Robust Cybersecurity Posture
When it comes to risk management, top professionals prioritize cybersecurity. Single family offices should deploy measures like 2FA (two-factor authentication) and educate their clients against social engineering. These simple steps can ward of as much as 90% of cyber threats. Experts also recommend using password managers and securing all remote access points to draw a reliable line of defence.
A report reveals that 53% of family offices engage external service providers to strengthen cybersecurity.
4. Nurturing a Culture of Security Awareness
Family offices must educate their staff and family members about potential security risks and best practices. Only 33% of family offices carry out routine security risks, so it’s crucial to engage a professional specializing in these aspects. These training sessions go a long way in cultivating a proactive mindset towards security. This ensures that every member within the organization is aware of their role in maintaining security.
Proper security management is essential to secure sensitive information and assets. Forward-thinking single family offices deploy a comprehensive insider threat program that includes ongoing training, clear policies, and a culture of security awareness. All these measures mitigate threats posed by all sorts of insider actions- both intentional and unintentional.
Ensure Long-Term Security with Professional Support
- NEWSLETTER,U.A.E
- June 11, 2024
Over the years, Dubai has emerged as the global hotspot for businesses with a robust commercial ecosystem. Forward-thinking entrepreneurs are keen to expand their footprints in this Middle Eastern Country, known for its opulent lifestyle and luxurious appeal. Ambitious business leaders around the globe seek professional guidance from consultants, streamlining the process of company formation in Dubai. From its business-friendly environment to demographic advantage, Dubai appeals to successful brands with a plethora of benefits.
Let’s take a look at the top reasons justifying the popularity of Dubai as a global business hub.
Why is Dubai Ideal for Setting up a Business?
If you are wondering why Dubai is best for business, here are ten reasons that demonstrate the tremendous potential of this city.
1. Business-friendly environment
2. Demographic advantage
3. Favourable Visa scheme
4. Sophisticated infrastructure
5. Diverse Financial Sector
6. Business-friendly tax policies
The tax environment in Dubai is one of the best in the world for investors. After setting up a business in Dubai, entrepreneurs can take advantage of tax benefits and exemptions in free zones. With a business setup in Dubai UAE free zone, entities can benefit from minimal corporate tax, while personal income tax isn’t levied in the country.
7. Dynamic business environment
8. Diverse cultural scenario
9. Economic free zones
10. Silk Road initiative
Professional Assistance to Set Up a Business in Dubai
Global entrepreneurs thinking of setting up their operations in Dubai often look out for a strategic partner for consultation and advice. The IMC Group continues to be one of the leading partners, facilitating company formation in Dubai. This group of professionals, with its tailored solutions, network, and expertise, empowers entrepreneurs to capitalize on the tremendous opportunities in Dubai and understand its complex regulatory norms to ensure compliance. From establishing a presence in free zones to accessing investment avenues and fostering collaborations, the IMC Group lends its comprehensive assistance in driving entrepreneurial success in the thriving business ecosystem in Dubai.
- NEWSLETTER,SINGAPORE
- June 11, 2024
As advancements in artificial intelligence (AI) continue to drive innovation globally, investors in Asia are particularly focussing on data centres. Data centres are essential to support ongoing advancements in AI and data science. This interest has fuelled a competitive effort to build data centres in building data centres among investors in Singapore. Particularly, global businesses are interested in company formation in Singapore to acquire and manage data centres.
In the Asia-Pacific region, data centres have emerged as the preferred alternative asset for REITs (real estate investment trusts). Between the first quarters of 2023 and 2024, there has been a spike in the share of investors prioritizing data centre investments, with the figure surging from 29% to 33%.
Booming Data Centre Economy and Acquisitions by Singaporean Investors
A report evaluates the activities of Singaporean REITs in the data centre sector. Due to a moratorium on data centre construction within Singapore, restrictions have been imposed on domestic investment opportunities. Naturally, investors in Singapore are exploring international prospects.
Last March, Keppel Corporation acquired a partially constructed data centre from Mitsui Fudosan in Tokyo. The company put their trust in the robust growth of the public cloud market in Japan, which is projected to hit the $34 billion (£27.2 billion) milestone by 2028.
In another significant move, less than a year ago, MapleTree Industrial Trust purchased a data centre facility in Osaka for $378 million (£302.6 million). The CEO of MapleTree explained the strategic value of this acquisition, focusing on the prospects of diversifying their presence of data centres in Japan. The CEO also stated that this expansion falls in line with their goals to enhance their footprint in the resilient data centre sector which looks promising for growth.
With AI and eCommerce booming, the acquisition was a strategic move by MapleTree as the company made an inroad into the Japanese market.
Wondering why set up business in Singapore? The surge in data centre investments and the robust support from the government explain why forming a company in Singapore can be advantageous.
According to an expert, data centres accounted for just 1.4% of the REIT universe in Asia in 2022. This segment consisted of two dedicated REITs in Singapore. The expert pointed out that real estate investors in Asia are increasingly turning their attention to data centres. However, no new data centre REIT was listed in 2022 due to challenges in the equity market segment. Currently, several existing REITs are investing in data centres.
Professional Support for Company Formation in Singapore
For companies looking to establish their presence in Singapore, the IMC Group continues to be a trusted partner. This group of professionals streamlines the process of Singapore company Incorporation through its strategic insights, extensive networks, and expertise. The experts also provide invaluable support to businesses as they navigate the stringent regulatory frameworks in Singapore and access investment opportunities.
- Publications
- June 10, 2024
Singapore is a prime destination for business incorporation due to its robust legal framework, strategic location, and business-friendly policies. As a global financial hub, it offers political stability, a skilled workforce, and low corporate tax rates. Singapore’s free trade agreements and efficient infrastructure attract entrepreneurs and multinational corporations alike. In 2023, the Accounting and Corporate Regulatory Authority (ACRA) reported over 547,000 registered business entities, highlighting the country’s dynamic and thriving business ecosystem and solidifying its reputation as a top choice for business setup and growth in Asia.
Explore our detailed checklist, which outlines everything you need to know about incorporating a company in Singapore, from name approval to ongoing compliance requirements. This comprehensive guide will help ensure a smooth and efficient registration process.
Ready to start your business journey in Singapore? Scroll down to access our comprehensive checklist and receive expert guidance on the entire incorporation process.
Learn the essential steps to streamline your registration, meet all legal requirements, and establish a strong foundation for your business.
Don’t miss this chance to make your business dreams a reality – download our checklist now and set your company up for success!
Please complete your details below to download:
- Publications
- June 9, 2024
Ready to elevate your compliance management? Fill out the form below to gain immediate access to expert insights on mastering compliance strategies.
Discover methods to streamline your processes, enhance compliance accuracy, and confidently address regulatory challenges.
Please complete your details below to download:
- Publications
- June 6, 2024
Ready to level up your financial management? Fill out the form below to gain immediate access to expert guidance on mastering bookkeeping.
Discover strategies to optimize your processes, enhance accuracy, and confidently tackle financial challenges.
Don’t let this opportunity pass by – download now to drive your business success!
Please complete your details below to download:
- Article, Global
- June 3, 2024
The Netherlands appeals to businesses and entrepreneurs looking to establish a foothold in Europe, with its robust commercial infrastructure. Its business-friendly environment and strategic location offer a wealth of opportunities to forward-thinking businesses. The ease of doing business in the Netherlands makes it a preferred hub for global entities. Most importantly, it takes just around 3 weeks to incorporate a company in the Netherlands.
Whether you are a startup or an MNC, forming a company in this country brings in several advantages. The country has a skilled workforce, a stable economic environment, and favorable tax norms.
In this comprehensive guide, we have discussed how to register company in Netherlands. Read on to understand different business structures, tax incentives, and the process of setting up your company in this country.
Why Do Global Brands Choose the Netherlands for Expansion?
The strategic location of the Netherlands gives you access to more than 500 million customers. Located centrally in Europe, the country boasts one of the most advanced logistics and infrastructure systems in the world. The quick access to the Port of Rotterdam and Schiphol Airport significantly bolsters international connectivity and trade.
Global brands benefit from doing business in the Netherlands as the country has a highly skilled and multilingual workforce. The government strongly emphasizes innovation and education, as the country ranks high in terms of competitiveness and innovation globally. Thus, the Netherlands has emerged as the ideal hub for technology, research, and development.
The Dutch government also lends active support to foreign businesses through favorable tax regimes and a transparent regulatory framework. With competitive corporate tax rates, several tax treaties, and incentives for research and development, the Netherlands has emerged as an attractive destination for businesses.
Setting up a Business in the Netherlands: Different Types of Business Structures
Private Limited Liability Company (Besloten Vennootschap or BV)
The most common business structure for small and medium-sized enterprises in the Netherlands, a Private Limited Liability Company (BV) is the most common type of business structure. Businesses benefit from liability protection, which implies that their shareholders are liable only for their respective investments in the company.
The company incorporation process requires a notarial deed, which must be executed in Dutch. Most importantly, there’s no minimal capital requirement, making it suitable for small businesses. The BV structure offers adequate flexibility, ensuring the easy transfer of shares. It is also adaptable to different decisions made by the government.
Public Limited Liability Company (Naamloze Vennootschap or NV)
A Public Limited Liability Company (NV) is suitable for larger companies in the Netherlands. These companies may raise capital through public offerings. An NV is different from a BV since the former can issue shares to the public and be listed on a stock exchange.
The process to register company in Netherlands under the public limited liability structure is more complex. Businesses following this model require a minimum share capital of €45,000 for the notarial deed. The regulatory and reporting requirements of NVs are more stringent.
Other types of business entities in the Netherlands
Cooperative
Foundation
Sole Proprietorship
Partnerships
Partnership businesses in the Netherlands can be of three types:
- General Partnership: Two or more partners in a general partnership business share their profits, losses, and liabilities. Although the structure is flexible, it comes with joint and several liabilities for partners
- Limited Partnership: Such a partnership includes both general and limited partners. General partners manage the business and bear unlimited liability, while limited partners contribute capital and have liability limited to their investment.
- Professional Partnership: Professionals like doctors and lawyers often register their businesses as a professional partnership. Such a business structure allows them to jointly share their profits and losses based on mutual agreement.
Step-by-Step Guide to Registering a Company in the Netherlands
Business Plan and Legal Advice
Choose the Right Business Structure
Registration with the Chamber of Commerce (KvK)
1. Choose a name for the business
2. Check the availability of the business name
3. Drafting the Deed of Incorporation
4. Submitting the Registration Application
5. Obtain the Company Registration Number
6. Register for Taxes
7. Open a Business Bank Account
Legal requirements for doing business in the Netherlands
Physical Address
Share Capital
Registration with Dutch Authorities
Besides registering with the Chamber of Commerce (KvK), all entities doing business in the Netherlands should comply with other regulations. These include:
- Tax registration
- Data protection and privacy with adherence to the GDPR
- Social security and employment regulations regarding minimum wages and benefits
Taxation in the Netherlands
Overview of Taxes
| Type of Tax | Rate | Notes |
|---|---|---|
| Corporate Income Tax | 15% up to €395,000 | 25.8% above €395,000 |
| Value Added Tax (VAT) | 21% standard, 9% reduced, 0% specific | Applies to goods and services; reduced rates for essentials and specific services |
| Dividend Withholding Tax | 15% | Rate can be reduced or eliminated under tax treaties |
| Environmental Taxes | Variable | Includes energy tax, waste tax, and water pollution tax |
| Real Estate Transfer Tax | 6% | 2% for residential properties |
| Payroll Taxes | Variable | Includes wage tax and social security contributions |
Tax Incentives and Benefits
When you set up a company in Netherlands, you can take advantage of several tax incentives and benefits, as presented below:
- Innovation Box: Businesses engaging in innovative activities enjoy a reduced tax rate of 9% on profits
- WBSO (R&D Tax Credit): This involves deductions of wage tax and direct tax credits for R&D investments
- Energy Investment Allowance (EIA): EIA involves the deduction of a percentage of investment costs in energy-efficient technologies from taxable profits
Tax Filing Requirements and Deadlines
After you set up a company in Netherlands, it’s imperative to file your taxes on time to avoid additional interest charges and penalties. It’s advisable to reach out to a professional tax advisor like the IMC Group to meet your obligations with professionalism.
- Corporate income tax returns in the Netherlands have to be filed within five months after the end of a fiscal year, although extensions may be granted upon request.
- VAT has to be filed every quarter, and businesses need to pay the amount within a month after the reporting period
- Payroll tax returns are to be filed monthly, and the payment would be due within one month after the end of the reporting period
Professional Support for Company Incorporation and Tax Filing in The Netherlands
While setting up a business in the Netherlands takes little time, the stringent legal norms in the country looks demanding. Considering the challenges like evolving regulatory requirements, opening a bank account, or registering your company, having a professional team of advisors on your side can significantly help.
The IMC Group continues to be your trusted partner during company incorporation in the Netherlands, offering a holistic range of advisory and tax services. The professionals also enable businesses capitalize on the tax incentives with proper knowledge. Forward-thinking companies doing business in the Netherlands habitually seek professional consultation from seasoned experts to speed up the incorporation process and ensure tax compliance.
- NEWSLETTER, GLOBAL
- May 28, 2024
The last five years have witnessed a significant transformation in the financial environment for SaaS companies. While global enterprises used to focus on solely their growth trajectory in the past, their priorities have significantly evolved. Currently, forward-thinking businesses are closely working with specialists for governance risk management and compliance solutions. These services empower them with a proactive approach to combat inflation, rising interest rates, and fueling their growth trajectory.
With the economic paradigm evolving, organizations are restricted access to funding for their investments. This prompts them to shift towards a more balanced approach between efficiency and growth. Businesses are striving to reduce their dependency on capital markets, and they are increasingly looking for new avenues to generate better ROI. Considering these challenges, GRC (government risk management and compliance) solutions are a priority. With modern GRC practices, businesses are better poised to evaluate risk more effectively.
GRC Fuels Business Growth and Boosts Efficiency
Besides being a top priority for successful companies, GRC also ensures security and compliance to teams to communicate its importance to business leaders and fiscally conservative CFOs. Traditionally, the GRC processes have been manual and labor-intensive. Security and IT professionals often counter a time-consuming ordeal to track information on their compliance audits. Businesses need to spend hundreds of hours, collecting compliance data and building risk profiles manually. This significantly diverts the time of their employees towards tedious and repetitive tasks.
Prioritizing ROI and efficiency, it’s imperative to count on financial SaaS solutions for governance and risk management. With modern, automated platforms, leading companies are prioritizing GRC programs. These platforms significantly streamline GRC processes, empowering businesses to identify, analyze, and mitigate risks effectively.
Organizations are leveraging this data for additional risk management, which helps them to make informed decisions and drive growth.
The Value of GRC in Business Terms
For modern businesses, risk factors are plenty, including supply chain, financial, operational, and IT risks. The organization is affected by different risks in unique ways. For informed decision-making, it’s imperative to understand the chances and potential of these risks. With a comprehensive GRC program, global organizations can benefit from every aspect of risk management. This holistically offers a centralized repository, helping organizations make informed decisions.
Take the instance where a company is weighing the options of acquiring another. Such a move could expand their line of products, enhance technology, and increase revenue. However, such acquisitions also bring in several risks. For instance, entering a new market requires organizations to comply with regulatory norms.
While acquiring a new business with an existing infrastructure seems easier than building one from scratch, have you evaluated whether or not its infrastructure is compatible with the current systems of the organization? How much can be the conversion cost if it is not? Besides, what security challenges are these actions likely to introduce?
It’s essential to quantify these risks for two reasons.
Firstly, businesses can determine the financial value of the assumed risks, which enables them to evaluate whether or not they are justified. Top-line revenue might be increased through strategic acquisition, but businesses should overlook the risk factors. If it is necessary to upgrade digital infrastructure to ensure proper cybersecurity or compliance factors, businesses need to factor these in during their decision-making process.
Secondly, business leaders can effectively communicate with risk and security professionals with an informed approach. While business leaders may lack technical expertise, it’s essential to address the risks with professional expertise.
Professional Assistance for GRC Solutions to Empower Businesses
Businesses often reach out to reputed partners to identify, analyze, and reduce risks more efficiently. An effective GRC program fosters growth, addressing additional risks effectively. GRC not only focuses on compliance and security regulations, but also plays a significant role in decision-making.
Today, business leaders and security professionals speak a common language. This collaboration helps organizations evaluate their projected revenue, along with potential impacts on efficiency, security, compliance, and other risk factors.
The IMC Group continues to be the trusted partner for global businesses looking for effective enterprise risk management solutions. Remember, a robust GRC program is more than a regulatory requirement amidst evolving operational paradigms. With professional assistance, enterprises can transform their risk management practices to drive efficiency and make informed decisions to support sustainable growth. With the financial landscape rapidly evolving, GRC stands out as an indispensible priority for any business eyeing to scale the competitive market with confidence and agility.
- Article, Global
- May 27, 2024
Switzerland presents an attractive destination for global entrepreneurs and corporations looking to expand their operations in Europe. With a stable economy, strategic location, and business-friendly environment, the country attracts lots of foreign investments. However, enterprises need to follow a meticulous process during company formation in Switzerland. To ensure compliance, it’s imperative to understand the process of incorporating your business in the country.
In 2023, the merchandise exports in Switzerland were valued at $420 billion, a 5.01% increase from 2022. Besides, the EU is the primary trading partner of Switzerland, accounting for 67% of its imports and 50% of its exports. In this comprehensive guide, we have explained how to register a company in Switzerland. This will help new businesses comply with the stringent legalities and ensure a smooth incorporation process in the country.
- Why to register a company in Switzerland?
- Who Can Register A Company In Switzerland?
- Different Business Structures for Company Formation in Switzerland
- Steps Involved In Company Formation in Switzerland
- Things to do after company formation in Switzerland
- How much does it cost to form a company in Switzerland?
- Time required to register a company in Switzerland
- Seek Expert Support for Ongoing Compliance and Management Requirements
Why to register a company in Switzerland?
Global enterprises are looking forward to setting up a company in Switzerland, considering the multiplicity of benefits of operating within its borders.
- The strong GDP and economic stability in the country make it an attractive and safe business avenue for international brands
- Since Switzerland is located centrally in Europe, businesses operating here enjoy a strategic position as it opens up expansive commercial opportunities across the continent
- Moreover, international businesses take advantage of the favourable tax system in Switzerland. It allows certain companies to enjoy exceptions for up to 10 years. This significantly slashes the initial operational costs
- The country fosters innovation and technological development, offering robust IT infrastructure to businesses
- In Switzerland, overall labour costs remain comparatively low due to minimal indirect costs and social insurance expenses
Who Can Register A Company In Switzerland?
Different Business Structures for Company Formation in Switzerland
1. Swiss Limited Liability Company (GmbH/Sàrl)
Advantages:
- No personal liability for debts, as the liability is limited to the share capital and assets of the company
- The initial investment is low, just a share capital of CHF 20,000
- Unlike a sole proprietorship, a GmbH/Sàrl allows businesses to choose their business name freely
Conditions:
- At least one director must reside in Switzerland
- The company name must be distinguishable from other registered names and include GmbH or Sàrl
2. Swiss Limited Company (AG/SA)
Advantages:
- No personal liability since shareholders remain liable only for their share of the capital
- The identities of shareholders aren’t disclosed publicly
- Shares can be transferred freely without legal or statutory restrictions
Conditions:
- Higher minimal capital of CHF 100,000, with shares valued at least CHF 0.01
- At least one director must reside in Switzerland
- The name of the business must be unique and include AG or SA
3. Sole Proprietorship
Advantages:
- Registration with the Commercial Register is necessary only if the annual income exceeds CHF 100,000
- No minimal capital required
- Sole proprietorships are not subject to corporate taxes, unlike AG/SA and GmbH/Sàrl
Conditions:
- The business name must include the last name of the owner
- The owner needs to register with the OASI (AHV/AVS) and obtain a work permit
Steps Involved in Company Formation in Switzerland
1. Select the right business structure
2. Choose a company name
3. Draft the articles of association
The Articles of Association refer to legal documents outlining the purpose, structure, operational guidelines, and governance of a company. Include relevant details in the document, including:
- The name of the company
- Share capital
- Registered office address
- Directorship roles
- Rights and obligations of shareholders
- Decision-making processes
4. Open a Swiss Bank Account
Opening a bank account is one of the most crucial steps during Swiss company incorporation. All the financial transactions and capital will be managed in the dedicated bank account.
Seek professional assistance to open the bank account and provide necessary documents. These include:
- The Articles of Association
- Identity proof
- Details of business registration
5. Deposit the Initial Share Capital
6. Register the Company
Register your company with the Swiss Commercial Register in the canton where your business will be headquartered. At this stage, you need to submit the necessary documents, including:
- Proof of share capital deposit
- The Articles of Association
- Details of directorship
Things to do after company formation in Switzerland
1. Obtain Necessary Permits and Licenses
2. Register for VAT and Social Insurance
In Switzerland, businesses with an annual turnover of CHF 100,000 or more need to pay VAT. Businesses reaching this threshold need to register with the Swiss Federal Tax Administration (FTA) for VAT purposes.
Businesses also need to register with social insurance authorities (OASI/AHV/AVS) in Switzerland for employee benefits, pension contributions, and other social security obligations. To avoid penalties, it’s imperative to remain informed about insurance and tax compliance.
3. Set Up Accounting and Reporting Systems
How much does it cost to form a company in Switzerland?
Business owners expanding to Switzerland must be aware of the different costs to be incurred during the company formation process.
- Commercial Register registration cost: Approximately CHF 520
- Bank costs: Around CHF 250
- Sole proprietorship services: From CHF 190
- Commercial Register costs for sole proprietorship: Approximately CHF 150
Time required to register a company in Switzerland
Seek Expert Support for Ongoing Compliance and Management Requirements
Even after a company formation in Switzerland, forward-thinking businesses seek a professional hand to ensure tax compliance and financial reporting as per Swiss laws. It’s imperative to regularly review and update the operational processes, corporate governance, and strategic plans to ensure sustainable growth.
It’s wise to have experts on your side when it comes to handling annual filings, balance sheets, income statements, and cash flow statements and submitting the documents to the Swiss Commercial Register. The IMC Group continues to be a leading service provider, assisting global brands file their tax returns and maintaining transparent VAT declarations as per the Swiss tax regulations within deadlines. Successful international brands habitually count on dedicated teams of legal counsellors and advisors to ensure compliance and sustained growth.
A Member Firm of Andersen Global
- 175+ Countries
- 525+ Locations
- 17,500+ Professionals
- 2350+ Global Partners
