It is prestigious for every business to register a company in Switzerland. And, since the cryptocurrency business is currently actively developing, many are interested in registering an ICO company in Switzerland. In this jurisdiction there is a canton called Zug. It is often called the crypto valley, as excellent conditions for the development of the crypto business are created here. A lot of startups are developing in this region. While in most countries the status of bitcoin and other cryptocurrencies is in question, Switzerland conducts on a regular basis specialized committees of the ICO association and financial regulator of Switzerland FINM, and work out the rules for working with cryptocurrency business.
Registering a company in the canton of Zug - the lowest tax canton in Switzerland - is an excellent option for working with bitcoins. Here, this type of activity is governed by general rules of financial intermediation. These norms cannot be attributed to a business, where a cryptocurrency is only accepted as payment or acts as a means of payment. These norms are directly related to brokerage bitcoin activities, to organizations, that have their own trading platforms.
Registering an ICO company in Switzerland. Important points:
- One of directors of the company must be a resident of the country.
- For a bitcoin business, you will need a company of type AG, whose minimum authorized capital is 100,000 CHF.
- This company requires an AML license - Anti Money Laundering license.
Read more about how to register a company in Switzerland here.
How to obtain a license to work with bitcoin in Switzerland?
If you decide, that you are ready to register an ICO company in Switzerland, you will need a license. Anti-Money Laundering License in Switzerland allows:
- to manage assets on behalf of customers;
- to accept and to hold deposit assets, that belong to others, to assist in investing or transferring these assets;
- to merchandise in securities;
- to open currency, commodity and CFD accounts for clients;
- to distribute ICOs, conduct trading operations with cryptocurrencies;
- to carry out credit operations (to issue consumer and mortgage loans, a factoring, a financial leasing);
- to carry out payment transactions on behalf of other persons;
- to invest as investment advisors;
- to hold securities on deposits;
- to manage securities;
- to open bank/investment accounts in Switzerland for customers in banks without a bank statement;
- to open bank/investment accounts for clients at selected banks in Switzerland, Liechtenstein.
It is possible not to obtain a license for ICO activities in Switzerland, if the company is a member of a self-regulatory organization in Switzerland. This organization controls risky activities of its members. The cost of membership in this organization is approximately 30,000 francs per year.
With the help of YB Case specialists you will get the opportunity to register a company in Switzerland to work with Bitcoin, to obtain a Swiss license to work with Bitcoin, and also to open an account with a Swiss bank.
Ask for individual advice on setting up a Swiss company and our specialists can also offer you such an option as buying a ready-made ICO company in Switzerland with a license.