The basic requirements for a licence for an insurance company are set out in the Insurance Supervision Act (ISA). Other requirements and provisions are described in greater detail in the Insurance Supervision Ordinance (ISO) and FINMA circulars. Legal form: limited company or cooperative; minimum capital requirement: CHF 3 to 20 million, depending on sector; equity capital: sufficient free and unencumbered equity capital (solvency); establishment fund: covered costs of foundation, organization and extraordinary expansion of business activities; object of the company: activities directly associated with insurance; insurance companies which offer direct life insurance may only additionally offer accident and health insurance; foreign companies must have a branch in Switzerland and appoint a general agent.

Switzerland Insurance License Key Features

  1. Legal form: limited company or cooperative;
  2. Minimum capital requirement: CHF 3 to 20 million, depending on sector;
  3. Equity capital: sufficient free and unencumbered equity capital (solvency);
  4. Establishment fund: covered costs of foundation, organization and extraordinary expansion of business activities;
  5. Object of the company: activities directly associated with insurance;
  6. Insurance companies which offer direct life insurance may only additionally offer accident and health insurance;
  7. Foreign companies must have a branch in Switzerland and appoint a general agent.

Switzerland Insurance License Legal Requirements

Switzerland Insurance Licence

Description

General

  • Local physical office required

Yes

Share capital or equivalent

  • Minimum paid-up capital

CHF 3 to 20 million

Officers

  • Insurance Manager

Yes

  • Principal Representative

Yes

Shareholders

  • Minimum number

None

  • Corporate shareholders allowed

None

  • Local  shareholders required

None

Service Providers Required

  • Company Secretary

None

Switzerland Insurance License Tax Treatment

Income (dividends, interest, etc.) and capital gains on assets placed in insurance licenses are generally tax-free 

Switzerland Insurance License Duration to Set Up

6 months 

Switzerland Insurance License Distinctive Benefits

  1. Income (dividends, interest, etc.) and capital gains on assets placed in insurance licenses are generally tax-free.
  2. Equity capital: sufficient free and unencumbered equity capital (solvency);
  3. Life insurance can enable the tax-efficient transfer of wealth from the older generation to the younger without the need for estate executors.
  4. The key is that legal title to the assets – ownership – passes from the policyholder to the insurance company.

Why US (Key Strengths)

  1. We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances.
  2. Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  3. We are very hands on in the post filing period checking with re regulator and service providers and updating you regularly.
  4. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  5. We have a full in-house compliance support for all compliance requirements with the regulator and service providers