Setting up in Switzerland
Taking their business up to an international level is dream of many entrepreneurs. Switzerland offers great opportunities to enter most of the existing markets. However, there is one important condition: your business just has to be Swiss. Being Swiss is a brand in itself, and an instrument besides – one that is precise as a watch. A Swiss watch, naturally.
Business in Switzerland. Why?
Switzerland is a country with a population of around 8,5 m people, situated in the very heart of old Europe. The biggest Swiss cities – Zurich, Basel and Geneva – are the international transportation hubs which enable one to reach any location in Europe in about an hour.
Switzerland is ranked among the world’s top countries with a stable banking system, which provide favorable conditions for establishing a new business. It also has a sustainable ranking as 38 out of 190 according to Doing Business. Switzerland also keeps its leadership as stated by World Intellectual Property Organization.
The scientific research is highly encouraged by both the Government and the business community of Switzerland. Swiss companies provide sponsorship for the key universities, and it should be mentioned that Federal Institute of Technology in Zurich (ETHZ) and École Polytechnique Fédérale de Lausanne (EPFL) have been ranked among the world’s top 20 Universities for quite a long period of time now.
Location is the matter to consider while drafting a business plan. Any type of activity here is related to a particular canton, not to the Federation as a whole. Starting from that a new company has to be registered in the corresponding region’s Chamber of Commerce (you can find the list on the SIHK official website). Each canton defines its own procedure for granting job permits and all tax-related matters. Having contacts in the canton’s governmental institutes will obviously give you a considerable advantage.
A main task of a consultant is business localization, which means that he becomes responsible for the administrative and communication functions. Switzerland is a country with 4 official languages: German, French, Italian, and Romansh. All communication with the canton authorities is conducted in a local language. To perform the administrative function efficiently, a consultant has to speak at least one local language.
Depending on the budget of the entrepreneur, one or more consultants may be employed. Usually, special companies called fiduciaries are used to speed up the process. Swiss cantons have no shortage of them.