The first step in opening a business(like opening consulting business
) based in Zurich is determining a unique name.
Following this, documentation is to be prepared to allow for registration on the commercial register. To do this, a lawyer or banks assistance is needed. However, a prospective business owner is allowed to draft these documents themselves, although it is required to be handed over to the commercial registry office early to be inspected.
From then, all required documents are to be signed with a notary present and the requisite capital must be deposited into a bank with a receipt of proof. After seven days of submitting the required documents as well as a signed application, the commercial register will present a certificate of registration and the business will be published within the Swiss Official Gazette of Commerce.
There is then a requirement to register for social insurance, through SVA Zurich
The final stage in the registration of a business in Zurich is the application for a VAT number. This is where it is most recognisable that the Swiss financial sector is one of the most developed in Zurich, with over a third of Swiss banks
registered in the city. This alone is a reason for thousands of investors from around the world going to Zurich.
The Zurich taxation system is one of the most attractive in the world, with one of the lowest tax rates in the already-low taxed Swiss nation. Zurich features three levels of taxation, federal, cantonal and municipal.
In Zurich, the cantonal tax rate on profits is 8% and a 0.75% tax is charged on capital. Holding companies are the benefactors of a 0.15% tax rate. Profit taxes on business established in Zurich are 26.86% after tax deductions.
In order to assist the development of new businesses, there is a proprietary taxation type in Zurich for newly established businesses. When an individual is concerned, a tax reduction on net wealth and income is granted. This reduction can be made when a request is presented to the cantonal council. The following information is required for this request; why the request is being made, the location of the company and further information about the company.
The Department of the Economy
and council where the business is located are consulted by the Cantonal Tax Office and the decisions to approve or reject the request is decided by the Department of Finance.
Losses endured during the prior seven years may be rolled over against future profits.