Switzerland
The Swiss government is taking all available measures to successfully develop the field of cryptocurrency in the country. In the process of creating special legislation governing the exchange of virtual currency. Due to low taxes and legal status of cryptobusiness, this area is becoming the most popular for conducting financial activities.
Basics of the cryptocurrency market in Switzerland
The country has not yet adopted formal legislation relating to the establishment of the status and rules for conducting transactions with cryptocurrencies. Today, such transactions are subject to financial intermediation clauses. For operations with cryptocurrencies will need to obtain a license. When making payment for goods or services by blockchains, a license is not needed. In the case of acquiring currency for the purpose of trading on exchange exchanges, commercial organizations must issue a special permit - a license.
The document is issued by the main regulator of the state - the Financial Market Supervision Authority (FINMA). Companies working with the blockchain should not receive the document, they issue a financial intermediary license (DSFI) or permission to conduct banking activities. The service should provide evidence of compliance with the conditions for working with cryptocurrencies, including:
- A rental agreement or certificate of ownership of an office in Switzerland. This implies that when organizing a company is obliged to fully comply with the requirements of Swiss law, also in the field of AML.
- The authorized body must provide a document indicating the possible risks that may arise during the implementation of financial transactions and other instruments.
- Evidence is presented on the sufficiency and liquidity of capital.
- Access is granted for auditing to be scheduled or after hours.
Who owns the license in Switzerland
Today, only one cryptocurrency organization in Switzerland has a license for exchange operations. It is located in the center of the blockchain business, in the canton of Zug. The company is called Haro.
On the example of Haro, it became clear that the process of obtaining permission took a long time. Even the pre-license registration was delayed for the company for 2 years. However, specialized holdings have found an alternative. It is used as an alternative. Possible entry into a self-regulatory organization. They are currently operating in Switzerland. 12. One of the largest institutions is the only managing center in Zug - VQF. Several blockchain companies joined the list of its participants. The SRO functions include control of the activities of members of the union, the imposition of fines within the framework of current legislation and the statute.
To join the SRO will need:
- have a registered address in Switzerland and a place of actual activity;
- The founders should be two Swiss residents, the director can only be a citizen of the country.
Earlier, the Swiss Federal Council launched an initiative to revoke licenses for companies whose annual turnover did not exceed 1 million francs. The legislation in the field of blockchain technologies is constantly undergoing changes, the reason for the adoption of new acts is the need to legalize commercial activities related to the turnover of virtual currencies. Such a center of financial activity is so far the only among all areas working with the blockchain.
Ready-made companies with bank accounts
Or you've already got own business and there is a need to expand the scope of activities. To avoid the loss of time and effort to register juridical individuals, you can arrange a ready-made company. You will have a fully prepared company with a package of documents, which is mandatory for conducting a full-fledged activity.
Companies with licenses
Buying a ready-made company is the best option for operational business development in a new industry, as well as the need to expand the scope of the existing organization increase its scale. Acquisition of a company with mandatory permits and license means the ability to enter a new market in a short period of time.
Banks
Acquisition of a ready-made bank allows you to save time, as well as quickly carry out all reissuing operations. On average, the procedure takes about one day. As a result, the client becomes the head of the bank, which already has a client base, as well as status in the market and ready staff. Our company conducts all operations in accordance with existing legislation.
Funds
Investment fund is a modern investment tool designed for all types of assets. The purpose — managing of assets as well as solving number of tasks in a way that works best for individuals. There is no open subscription, meaning that a private investment fund has a closed structure. This is the most optimal solution for distributing capital through broad instruments.
SEMI for sale
When conducting business related to foreign exchange transactions, electronic money and cryptocurrencies, it may be necessary to open a financial company with a SEMI license. This type of license covers the production of debit cards and cryptocurrencies, the acceptance and sending of payments, the execution of transfers from third parties, and the opening of merchant accounts.
Crypto Offshore
When working with cryptocurrency it is important to choose the right country, where it is most profitable to open a company. Each country has a different attitude towards this type of currency. A country that has a loyal or positive attitude towards cryptocurrency can be called a crypto-offshore.
