COREDO > Financial Licence in Switzerland

Financial Licence in Switzerland

Switzerland is one of the world’s leading financial centres, offering a stable legal system, a high level of trust, and a highly developed financial infrastructure. Swiss financial licences are suitable for a wide range of financial and fintech projects, providing access to one of the world’s most respected jurisdictions.

Since 2016, COREDO has been assisting clients with obtaining financial licences in Switzerland, providing full support — from selecting the optimal structure and liaising with SROs to preparing documentation for FINMA.

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Cost of the service
from 56 000 EUR

Regulatory Framework

Financial regulation in Switzerland is based on a set of federal laws and ordinances administered by FINMA:

Banking Act (BankA) — regulates banking activities, including capital requirements, organisation, and depositor protection. The FinTech licence is provided for under Article 1b BankA.
Financial Institutions Act (FinIA) — entered into force on 1 January 2020. Regulates the activities of portfolio managers, trustees, collective investment managers, and securities firms.
Financial Market Infrastructure Act (FMIA) — regulates financial market infrastructure, including trading venues and DLT systems.
Anti-Money Laundering Act (AMLA) — establishes the obligations of financial intermediaries in the area of AML/KYC and provides for supervision through self-regulatory organisations (SROs).
Financial Services Act (FinSA) — regulates the provision of financial services and ensures transparency for investors.

The regulator is FINMA (finma.ch), which combines the functions of banking supervision, insurance company supervision, and securities market supervision.

Types of Financial Licences

Depending on the nature of the services provided, FINMA issues several categories of licences and authorisations:

Licence Type	Description	Min. Capital	Approximate Processing Time
Banking Licence	Accepting public deposits exceeding CHF 100 million, lending, settlements	CHF 10,000,000 (in practice from CHF 20 million)	12–24 months
FinTech Licence (Art. 1b BankA)	Accepting public deposits up to CHF 100 million or crypto-assets without investing or paying interest	CHF 300,000 (3% of deposits, but not less than CHF 300,000)	6–12 months
Securities Firm Licence	Securities trading, underwriting, operating a trading venue	CHF 1,500,000	6–12 months
Portfolio Manager Licence (FinIA)	Discretionary management of client assets	Determined by FinIO requirements (adequate financial guarantees)	3–6 months
SRO Membership (AMLA)	Financial intermediary activities: currency exchange, crypto services, payment services	from CHF 20,000	2–5 months
DLT Trading Facility Licence	Operating a multilateral trading platform based on distributed ledger technology	Determined individually by FINMA	6–12 months

It should be noted that in Switzerland, companies directly handling client funds are considered banking structures. However, a financial licence is also required for FinTech organisations, crypto companies, payment service providers, electronic money issuers, and asset managers.

Advantages of the Jurisdiction

Switzerland as a jurisdiction for financial licensing offers a number of significant advantages:

Global reputation.

The Swiss financial system enjoys the highest level of trust from the international business community. A FINMA licence is a mark of quality and reliability.

Principle-based approach to regulation.

Instead of detailed prescriptions, FINMA applies general principles, ensuring flexibility for innovative business models.

Developed FinTech ecosystem.

The presence of Crypto Valley, more than 500 FinTech companies, and 1,200 blockchain start-ups creates a unique environment for the development of financial technologies.

Stable economy.

Low inflation, a strong currency (CHF), a robust banking system, and a high level of political stability reduce business risks.

Specialised workforce.

Switzerland has highly qualified professionals in the financial, legal, and technology sectors.

Flexible SRO system.

For financial intermediaries that do not require a direct FINMA licence, membership in one of the 11 recognised self-regulatory organisations (VQF, PolyReg, SO-FIT, and others) is available, which accelerates market entry.

Tax attractiveness.

Switzerland offers a competitive tax regime for financial companies. Corporate tax rates vary by canton and can range from 11.9% to 21.6%, allowing companies to optimise their tax burden when choosing a place of registration. In addition, a number of cantons provide special conditions for holding companies and companies engaged primarily in international activities.

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General Requirements for Obtaining a Licence

To obtain a financial licence in Switzerland, the applicant company must meet a number of mandatory requirements:

Legal presence.

The company must be registered in the Swiss Commercial Register in the form of a corporation (AG), a limited liability company (GmbH), or a cooperative. The registered office and effective management must be located in Switzerland.

Minimum capital.

The amount of capital varies depending on the licence type — from CHF 20,000 for SRO membership to CHF 10,000,000 and above for a banking licence. The capital must be fully paid up.

Management qualifications.

Members of the board and management must demonstrate an irreproachable business conduct guarantee, professional qualifications, and relevant work experience.

Organisational structure.

The company is required to ensure proper segregation of functions, an internal control system, and risk management framework.

AML/KYC compliance.

Mandatory compliance with AMLA requirements on anti-money laundering and combating terrorist financing. For SRO members — compliance with the regulations of the relevant SRO.

Business plan.

A detailed business plan including a description of the business model, list of services, risk analysis, AML/KYC procedures, corporate governance, technology infrastructure, and target markets.

Audit.

For certain licence types, a regulatory audit report from a FINMA-accredited audit firm is required.

COREDO Service Fees

COREDO offers comprehensive support for obtaining a financial licence in Switzerland:

Service	Fee
SRO Membership (Self-Regulated Organisation)	from EUR 56,000 + VAT

The fee includes documentation preparation, legal support, interaction with the regulator, and advisory support throughout the entire process. The exact fee is determined after analysing the specific project and depends on the licence type, complexity of the business model, and the scope of work required.

Please note that COREDO’s service fees do not include government duties, regulatory fees, and costs of forming the company’s minimum capital.

Payment Terms

COREDO applies a standard three-stage payment scheme:

Stage one — 40%.

Advance payment upon signing the service agreement. Work on documentation preparation and project analysis begins after receiving the payment.

Stage two — 40%.

Interim payment upon submission of the application to the regulator or SRO. By this point, the main package of documents has been prepared and submitted for review.

Stage three — 20%.

Final payment after successful receipt of the licence or confirmation of SRO membership.

List of Documents

To obtain a financial licence or SRO membership in Switzerland, the following categories of documents must be prepared:

Company incorporation documents (articles of association, minutes of the founders’ meeting, extract from the Commercial Register).

Confirmation of the registered office and effective place of management in Switzerland.

Information on the ownership structure, beneficial owners, and organisational hierarchy.

Documents confirming the identity and qualifications of managers (passports, CVs, diplomas, criminal record certificates).

A detailed business plan with a description of the business model, list of services, risk analysis, and financial projections.

Confirmation of the availability and source of minimum capital (bank statements, audit confirmations).

Internal AML/KYC policies and anti-money laundering procedures.

Description of the risk management and internal control system.

Preliminary company budget for the first three years of operations.

Description of IT infrastructure and cybersecurity measures.

Client funds and data protection policy.

Information on planned outsourcing arrangements (if applicable).

Regulatory audit report from a FINMA-accredited auditor (for FinTech and banking licences).

Additional documents as requested by FINMA or the SRO.

Document requirements may vary depending on the licence type. COREDO provides assistance in preparing the complete documentation package.

Licence Acquisition Procedure

The process of obtaining a financial licence in Switzerland involves several sequential stages:

Preliminary analysis and consultation.

COREDO experts analyse the client’s business model, determine the appropriate licence type (banking, FinTech, SRO membership, or other), and draw up an action plan. At this stage, preliminary requirements for capital, timelines, and documentation are assessed.

01

Documentation preparation.

COREDO prepares the complete documentation package in accordance with the requirements of FINMA or the relevant SRO. The business plan, internal AML/KYC policies, risk management system description, and other mandatory documents are prepared.

02

Company registration.

If necessary, the legal entity is registered in the Swiss Commercial Register, minimum capital is formed, management is appointed, and a bank account is opened.

03

Application submission.

The documentation package is submitted to FINMA (for direct licences) or to the selected SRO (for SRO membership). In the case of a FinTech or banking licence, the application is accompanied by a report from a FINMA-accredited auditor.

04

Review and decision.

FINMA or the SRO reviews the application and, if necessary, requests additional information. Processing times range from 2–5 months for SRO membership to 12–24 months for a full banking licence. Upon completion of the review, a licence or membership confirmation is issued.

05

Post-licensing support.

After obtaining a licence or SRO membership, the company must ensure ongoing compliance with regulatory requirements. COREDO offers ongoing support services, including preparation of periodic reports, updating internal AML/KYC policies, conducting AML audits, and consultations on legislative changes.

06

Our Experts

COREDO specialists with many years of experience in the field are involved in financial licensing projects in Switzerland:

Pavel Kos

Head of Legal at COREDO. Has been with the company since June 2017 and has headed the legal team since July 2020. Specialises in financial licensing, corporate law, and strategic planning.

Basang Ungunov

Lawyer at COREDO. Has been with the company since June 2022. Holds a Master of Laws (LLM) degree. Engaged in documentation preparation, legal analysis, and project support in the field of financial regulation.

Frequently Asked Questions

Is Switzerland a member of the EU and do the PSD2 and EMD2 directives apply?

No, Switzerland is not a member of the European Union. The country has its own financial legislation based on the Banking Act, FinIA, FMIA, and AMLA. EU directives (PSD2, EMD2, MiFID II) do not apply directly; however, Swiss regulation largely complies with international standards.

What is an SRO and why is membership needed?

An SRO (Self-Regulatory Organisation) is a self-regulatory organisation recognised by FINMA in accordance with AMLA. Financial intermediaries that do not require a direct FINMA licence (for example, currency exchange offices, crypto services, payment services) are required to join one of the SROs to ensure compliance with AML/KYC requirements. There are 11 FINMA-recognised self-regulatory organisations operating in Switzerland, including VQF, PolyReg, and SO-FIT.

What is the minimum capital for a FinTech licence?

The minimum capital is CHF 300,000 or 3% of accepted public deposits (whichever is greater). In practice, FINMA expects the company to have sufficient liquidity to cover operating expenses for a minimum of 12 months.

How long does it take to obtain a banking licence?

The process of obtaining a full banking licence typically takes 12 to 24 months. Timelines depend on the complexity of the business model, completeness of the documentation provided, and FINMA’s current workload.

Can a foreign company obtain a financial licence in Switzerland?

Yes, however, it is necessary to establish a legal entity in Switzerland (AG, GmbH, or cooperative), registered in the Commercial Register. The registered office and effective management of the company must be located in Switzerland.

What is the cost of COREDO's services for obtaining SRO membership in Switzerland?

The cost of COREDO’s services for support in obtaining SRO membership in Switzerland is from EUR 56,000 + VAT. The final cost is determined after analysing the specific project.

What types of activities require SRO membership?

SRO membership is mandatory for financial intermediaries in accordance with Art. 2 para. 3 AMLA: currency exchange, cryptocurrency operations, provision of payment services, and other activities related to the circulation of funds that do not fall under the requirement for direct FINMA licensing.

Does COREDO provide support after obtaining the licence?

Yes, COREDO offers a comprehensive range of ongoing support services: AML audit, consultations on compliance with regulatory requirements, report preparation, and updating internal policies in accordance with legislative changes.

Submit Application

If you are planning to obtain a financial licence in Switzerland or join a self-regulatory organisation, COREDO specialists are ready to provide consultation and full process support. The company has been operating in the legal and consulting services market since 2016 and has a deep understanding of FINMA regulatory requirements.

Contact us for an individual assessment of your project.