Incorporation of a Swiss limited liability company (GmbH) - compact document set
PricewaterhouseCoopers AG
This set of documents is required for the incorporation (Cash) of a limited liability company (GmbH or Gesellschaft mit beschränkter Haftung or GmbH) in Switzerland.
Author's Note
This set of documents is required for the incorporation (Cash) of a limited liability company ( Gesellschaft mit beschränkter Haftung or GmbH) in Switzerland. The company is entered in the commercial register of the place at which it has its registered office. Through a single interview, you will be able to create: Articles of association; Circular resolution of the Board of Managing Directors; Acceptance letters and signature sheets for members of the Board of Managing Directors; Signature sheets for officers; Application to the commercial register; Letter to the commercial register; and Quota holders’ register. This set of documents does not include certain other documents which are required to complete the registration (see below). Overview of the procedure for a cash incorporation of a limited liability company (GmbH) Step 1: Preparation of required document, confirm availability of desired company name. It...
Read moreThis set of documents is required for the incorporation (Cash) of a limited liability company (Gesellschaft mit beschränkter Haftung or GmbH) in Switzerland. The company is entered in the commercial register of the place at which it has its registered office.
Through a single interview, you will be able to create:
- Articles of association;
- Circular resolution of the Board of Managing Directors;
- Acceptance letters and signature sheets for members of the Board of Managing Directors;
- Signature sheets for officers;
- Application to the commercial register;
- Letter to the commercial register; and
- Quota holders’ register.
This set of documents does not include certain other documents which are required to complete the registration (see below).
Overview of the procedure for a cash incorporation of a limited liability company (GmbH)
Step 1: Preparation of required document, confirm availability of desired company name.
It is possible to ask the commercial register to carry out a preliminary examination of the documents prepared, which may take up to seven business days. The quota capital of the company must be paid into a blocked account and a confirmation from the bank obtained. Unless the company is eligible for limited audit (in which event there must be a vote and an opt-out declaration must be provided), an independent auditor must be appointed.
Step 2: Contact a notary and provide all necessary documents to allow preparation of the public deed. At the founders meeting, all founding members must be present or represented by proxy.
Step 3: File the public deed including the signed application form and other required documents with the commercial register at the company’s domicile. Subject to completeness and legal conformity, the company should be established within the next 7 business days. Do not forget to order a certificate of registration.
Circumstances of Use
This set of documents is intended for the cash incorporation of a Swiss limited liability company.
Terms of Use
The purchase of this Product is subject to PartnerVine Terms.
You (the registered user through whose account the purchase is made) may:
- Access the document-generation interview for 90 days from date of purchase;
- Export and download an unlimited number of copies of the document(s) in Word or pdf format;
- Share and use the document copies in connection with the circumstances described in this Author’s Note and only for the ordinary business purposes of the group of companies to which you belong.
Exclusions and Limitations
This template allows for the creation of the documents listed above only. The following additional documents must also be filed with the commercial register:
To be provided by a notary:
- Public deed regarding the establishment of the company
To be provided by the company:
- Bank certificate of the blocked bank account to pay in quota capital;
- Stampa- and Lex-Friedrich-declaration (form available from the commercial register);
- Acceptance letter of the auditor or opting out declaration by the company (form available from the commercial register);
- Copy of passport or ID of each person who will be entered in the commercial register;
- If necessary certificate of good standing of founder; and
- Confirmation of domicile (if relevant).
Other Comments
If the company to be incorporated does not yet have a place of business in Switzerland, consider whether domiciliation services are required. A template Domiciliation Agreement is available separately.
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Frequently asked questions
(1) Articles of Association, (2) Circular Resolution Constitution, (3) Acceptance Letter and Signature Sheet, (4) Signature Specimen Officer, (5) Application Commercial Register, (6) Letter to the Commercial Register
The articles of association are the foundation of the Company and therefore the most important document. Other than customizing its content throughout the interview, there is no immediate action required on your end with regard to this document.
This document is required for the constitution of the Board, the granting of signatory powers, the definition of the business year and the establishment of a quota holders' register. This document has to be signed by all Board Members. No legalization is required.
The Chairman and each other Member of the Board of Managing Directors have to accept their mandate, provide a specimen of signature, and will be entered in the Commercial Register. The signatures have to be provided in front of a notary. If the notarization is done by a non-Swiss notary, it has to be vested with an Apostille of the Hague (cross-border notarization).
All persons authorized to represent the Company have to be entered in the Commercial Register and provide a specimen of signature. The signatures have to be provided in front of a notary. If the notarization is done by a non-Swiss notary, it has to be vested with an Apostille of the Hague (cross-border notarization).
The application contains all information that will be entered into the Commercial Register. This document has to be signed by all Board Members. No legalization is required.
If you want to file you registration by mail, this document will provide you with an appropriate accompanying letter.
Quota Holders' Register: You are not required to file the quota holders' register with the Commercial Register. But the Company is required by law to keep a quota holders' register after the incorporation. It tracks all changes with regard to quota holders and complies with new regulations regarding beneficial owners. It has to be kept in the corporate file. You may sign and date the quota holders' register as soon as the Company has been registered in the Commercial Register. No legalization is required.
The purpose is stated in the articles of association and describes the specific field of activity of the Corporation. It has to be drafted with a certain clarity and precision, since it limits the right to represent the Corporation, among other things. The purpose drafted in English must not differ from the respective German version. The secondary purposes, which are already included in the pre-drafted Articles of Association, cover intra group financing, opening branch offices and subsidiaries, participating in other companies, managing its own real estate, and engaging in all commercial, financial or other operations which are appropriate to serve or to promote the development and the purpose of the Corporation.
In accordance with art. 56 of the Swiss Civil Code, the registered office or seat of a legal entity is located in the political municipality where its administration is carried out, unless its articles of association provide otherwise.
GmbH means Gesellschaft mit beschränkter Haftung and is common in German speaking countries. Sàrl is its French counterpart, Sagl is used in Italy. LLC signifies Limited Liability Company and is common for anglophone countries
If the company does not have or does not want own offices, a domicile provider can offer a c/o-address and certain basic secretarial services to your incorporating Company.
Where a company has two or more Managing Directors, the members' general meeting must appoint the Chairman. The function is vested with special duties like presiding over the board and members' general meetings or sign the quota holders' register. There are no restrictions in terms of nationality or residency requirements for the Chairman. However, the Company needs to have one person who is entitled to represent it and who is a legal resident of Switzerland. This person can either be a member of the Board of Managing Directors or an Officer. The Chairman is not required to be a quota holder of the Company. If he or she owns quotas, he or she has to be registered in the quota holders' register.
No.
Each non-board member who is authorized to represent the Company has to be registered with the Commercial Register.
(1) sole signature: A Managing Director with sole signatory power may solely represent the company
(2) joint signature by two: A Managing Director with joint signatory power by two may represent the company only with another representative that has sole or joint signatory power
(3) sole power of procuration: A Managing Director with sole power of procuration may act as a proxy for contracts within the purpose of the company.
(4) joint power of procuration by two: A Managing Director with joint power of procuration by two may act as a proxy for contracts within the purpose of the company only with another person that has sole signatory power or power of procuration.
(5) no signatory power or power of procuration: A Managing Director with no signatory power or no power of procuration may not represent the company or act as a proxy.
Important to consider: At least one representative with sole signatory power or two representatives with joint signatory power must reside in Switzerland.
Beneficial Owner means the natural person for whom the shareholder is ultimately acting. In case there is a different beneficial owner, this information must be provided in detail.
A LLC does not have stock or stockholders. Instead, there is an operating agreement. The Operating Agreement lists the membership interests and the rights of each member rather than in separate member certificates.
The minimum company capital is CHF 20,000. There is no maximum. The company capital must be fully paid-up at incorporation.
The pre-drafted articles of association entitle the Board of Directors to determine the financial year by signing the pre-drafted circular resolution. For fiscal reasons, the first financial year (starting with the incorporation) can be short or over long. For example, an over long financial year might allow the Company to accumulate tax deductions.
The Company is established when the founder members at the founders’ meeting declare by public deed that they are forming the Company, lay down the articles of association therein and appoint the governing bodies.
If a foreign legal entity is involved in the incorporation as founder, a document confirming its existence is required. Accepted is an excerpt from a commercial register or a certificate of good standing / a similar document if there is no commercial register in the founder’s country of incorporation. This document needs to state the authorised persons with their signature powers for the company and has to be notarized and vested with an Apostille (or a consular legalisation up to the Swiss consulate). A notarized and apostilled translation into a Swiss national language may be required by the Commercial Register.
Yes, with some exceptions.
Swiss law foresees two different types of audit obligations depending on the thresholds mentioned below. Under certain conditions, a company may choose to opt-out of such audit obligations.
I. Ordinary audit: The following companies must submit their annual financial statements and, if applicable, their consolidated financial statements to an auditor for an ordinary audit:
1. Public companies, i.e. companies: a) whose equity instruments are quoted on a stock exchange; b) that have issued bonds; c) that contribute at least 20 % to the assets of the turnover of the consolidated financial statements of a company in the sense of 1. a) or b) above.
2. Companies exceeding two of the following thresholds in two consecutive business years: a) balance sheet total of CHF 20 million, b) revenues of CHF 40 million, c) annual average of 250 full-time employment positions;
3. Companies that are obligated to establish consolidated financial statements.
II. Limited audit: If the above-mentioned prerequisites of an ordinary audit are not met, the company shall submit its annual financial statements to an auditor for a limited audit.
III. Opting-out: A company is entitled to fully opt-out and be released from the obligation to appoint an auditor if the three following requirements are fulfilled:
1. The company meets the requirements to conduct only a limited audit;
2. The consent of all shareholders is given; and
3. The company does not have an average annual number of full-time employment positions higher than ten.
Important to consider: if an audit takes place, the acceptance letter of the auditor is required for the application. If no audit is performed, the opting out declaration for the audit is required for the application (form is provided by the Commercial Register).