establishing a sole trader in switzerland
TRANSCRIPT
Establishing a Sole Trader in Switzerland
A presentation brought to you by LawyersSwitzerland.com
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Sole Traders in Switzerland
• The Swiss legislation allows citizens to establish sole proprietorships with the purpose of conducting their own businesses.
• Recently, sole traders have become very popular as they are the first step to financial independency and self-employment in Switzerland.
• Swiss sole traders are also known as sole proprietorships or individual enterprises.
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Regulations related to the Sole Traders
• Swiss sole traders represent the simplest form of doing business.
• Not only Swiss citizens are allowed to open sole traders, foreign citizens living in the country are also entitled to set up this type of business.
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Setting up a Sole Trader >>
• The sole trader is usually registered as a private person who manages his or her own business.
• This also represents the first step to the registration of a start-up company in Switzerland.
• Swiss sole proprietorships can be employed for most types of activities.
• Our team of lawyers in Switzerland can offer legal advice.
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>> Setting up a Sole Trader
• The registration of a sole trader does not imply the same steps as the procedure of company incorporation in Switzerland, which is why it is much simpler to establish this business form.
• However, there are a few requirements to be met when opening an individual enterprise in Switzerland, which should be respected by the applicant.
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Requirements for Sole Traders• The natural person should meet the next
criteria:
the owner must register for social security with the Old Age and Survivor’s Insurance;
the name of the sole trader must include the owner’s last name;
the Swiss sole proprietor will be held accountable personally for the company’s liabilities.
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Registration Aspects for Sole Traders
• If the sole trader’s annual revenue is at least 100,000 CHF , it is necessary to register with the Swiss Commercial Register.
• Sole traders can be transformed into any other type of Swiss company available under the commercial legislation.
• Our team of attorneys in Switzerland can offer advice on the legal entities available here.
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Taxation of Sole Traders >>
• The sole proprietorship is required to pay the personal income tax in Switzerland and the social insurance, which also includes the following:
a health insurance;
the invalidity insurance;
the loss of earnings and compensation insurance.
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>> Taxation of Sole Traders
• In order to determine the payment of the social insurance premiums, the Swiss sole trader must submit certain documents such as invoices, offers, contracts, special licenses or other relevant documents.
• These documents must be submitted no later than 3 months after starting operating on the Swiss market.
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Consultancy Services in Switzerland
• Foreigners who want to activate as sole traders in Switzerland will need to obtain a residency permit.
• Our lawyers can also assist with more details on the requirements established for work permits in Switzerland.
• Please contact our law firm in Switzerland for more details on this subject.
Thank you for your attention!
• For more information please contact us at:
(+44)203-287 0408 (for international clients)
www.lawyersswitzerland.com
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