Open a Cryptocurrency Company in Switzerland

If you want to open a cryptocurrency company in Switzerland, our lawyers can guide you through the legal requirements and licensing procedures. Discover below what running such a business in this country implies.

Can I have full foreign ownership over a crypto business in Switzerland?

Yes, you can.

What are the steps to open a cryptocurrency company in Switzerland?

The procedure is the same as for any other business as presented here. The only different aspect to consider is the licensing process.

Can I register a Swiss cryptocurrency enterprise remotely?

Partially. The company registration procedure can be completed through representation from our Swiss lawyers; however, you may be required to come to the country to open the bank account.

What are the main requirements to start a cryptocurrency company in Switzerland?

You must:

choose an appropriate business form for such endeavors (the private limited liability or joint stock company can be used);
secure a Swiss-registered address for the company;
appoint a resident director;
have a Swiss resident anti-money laundering officer;
draft specific documentation for the licensing procedure;
appoint an auditor;
ensure sufficient capital in accordance with the type of crypto license requested.

NOTE: Crypto companies must also register with FINMA-authorized SROs in Switzerland.

What licenses can I obtain for crypto activities in Switzerland?

Any of the following:

a fintech licence (Art. 1b Banking Act);
a securities license;
a banking license.

What is the minimum capital to set up a crypto company in Switzerland?

There are two components to consider:

the minimum capital associated with the type of legal structure used for the company;
the license capital.

For the registration of the company, you will need at least CHF 20,000 for a private company and CHF 100,000 for a stock corporation.

For the licenses, you will need:

CHF 300,000 for a fintech licence;
CHF 1.5 million for a securities license;
CHF 10 million for a banking license.

What documents do I need to prepare to obtain a crypto license in Switzerland and where do I submit them?

You must prepare the following documents:

a business plan describing the services, products, objectives, and object of activity of the company;
governance and compliance documentation;
Anti-Money Laundering and Know-Your-Client documentation;
risk management policies.

Apart from these, you must also submit the details of all officers and shareholders in the company. The documents must be filed with the Financial Market Supervisory Authority (FINMA).

How long does it take to launch a cryptocurrency company in Switzerland?

Between 3 and 6 months, depending on the type of crypto license you apply for.

What operations can I complete after I open a Swiss crypto business?

Based on the type of license you obtain, you can carry out:

exchange and trading of virtual currencies for other digital assets or money;
initial coin offerings;
crypto-related consultancy operations;
e-wallet operations.

Why register a cryptocurrency company in Switzerland?

Zug is also known as the Crypto Valley, a name inspired by the famous Silicon Valley, located in the United States of America. More importantly, Zug is the home of the Crypto Valley Association, a body which was established with the assistance of local authorities in order to promote cryptocurrency investments and to help investors in setting up a company in this economic activity.

The Crypto Valley Association is actively involved, through its relation with local financial bodies, in establishing a legal framework for cryptocurrency investments, including for initial coin offerings (ICOs), which are currently used as a means of raising capital.

Businessmen are invited to contact our law firm in Switzerland for consultancy services related to the registration of a cryptocurrency company.