The article gives you information on Investing In A Business In Switzerland. While Switzerland is a land of variety, much of it can be attributed to it booming economy and the establishment of several businesses across the country. The investor-friendly nation is one of the most politically stable and peaceful places to set up a business. In addition, the country has made concerted efforts to attract foreign direct investments by reforming corporate tax laws and offering numerous tax incentives.
The country as one of the highest living standards in the world and has never failed to provide companies that operate in the country with the best possible infrastructure. Businesses thrive most in safe regions, and Switzerland is one of the safest countries in the world and has been ranked with the lowest level of corruption in the world. A large number of ski resorts in St. Moritz, Zermatt, and Crans-Montana, also make it ideal for tourism-related businesses.
The country is a full member of the European Free Trade Association EFTA and the International Monetary Fund IMF. What makes the country more conducive for business is that it shares its borders with major EU countries including Austria, Germany, Italy, France, and Liechtenstein.
You will find many businesses based in the Swiss cities of Geneva, Basel, Zurich, Lugano, Lausanne, and Lucerne. A high per capita GDP and monetary stability are some of the major factors that attract business houses to establish themselves in the country.
A political system that is free from bureaucracy combined with a highly skilled labor force make it ideal for foreign investors to establish businesses across the country. In addition, Switzerland has one of the most solid finance and banking industries in the world, with the Electronic Stock Exchange in Zurich being the third largest platform for equity trading. A strong asset management and investment advisory service is the main strength of the Swiss financial system.
When it comes to taxes, the country has one of the most moderate tax systems with a large number of incentives for foreign investors that set up business in the country. Among the major industries are pharmaceuticals, information technology, machinery, precision instruments, freight forwarding, insurance, and tourism that make up a major part of the economy.
Switzerland has opened its borders to trade and welcomes foreign nationals to set up a business or hold a financial interest in one. A work and residence permit is essential while every business needs to form a legal entity such as a corporation or limited liability company. Alternatively, you can set up a branch office in the country. Rules and regulation and tax rates vary according to the type of entity.
As a norm, there is no approval required from the authorities to set up a business in Switzerland. However, a work or residence permit is a prerequisite as long as you form a legal entity. The time required to set up a company is usually between 2 and 4 weeks. General accounting standards are concise and to the point where all businesses are required to keep accounts in an orderly manner with a clear distinction of business assets, payables and receivables, and profit and losses for each business year. With such convenient practices, doing business in Switzerland is well worth considering.