Which comes first in Switzerland: opening the corporate bank account or registering the company?

First, the blocked deposit account must be opened, and the share capital must be paid into it. This is followed by the notarial deed and then the company registration in the cantonal commercial register. The actual corporate current account is opened only after registration.

How much share capital is needed to set up a Swiss GmbH?

The minimum share capital for a GmbH is 20 000 CHF. According to the article, this must be paid in full before incorporation. This form is the most common among small and medium-sized enterprises.

How much share capital is needed to set up a Swiss AG?

The minimum share capital for an AG is 100 000 CHF. At incorporation, at least 50 000 CHF of this must be paid in, while the remaining amount may also be covered by a commitment. This form is more typical for businesses with higher capital requirements.

What documents may a Swiss bank request to open a corporate account?

Typically, a passport, proof of address, the draft articles of association, a business description, and a declaration of the beneficial owner are required. In some cases, documents proving financial background may also be requested. Bank requirements can vary from institution to institution.

How long does it usually take for the corporate bank account to open and the incorporation to be completed?

According to the article, the process usually takes 2–8 weeks. For founders resident abroad, it can take as long as 2–3 months. The longer timeframe is mainly caused by bank due diligence and documentation.

Is the payment of share capital taxable in Switzerland?

No, the payment of share capital is not treated as taxable income; it forms part of the company’s equity. However, capital duty may arise in certain cases. According to the article, a federal duty of 1% may be payable on the portion of capital exceeding 1 000 000 CHF.

Share Capital and Corporate Bank Account: How Should a Hungarian Company Get Started in Switzerland?

Q: Does a Hungarian founder need a Swiss address?

According to the article, both a GmbH and an AG require at least one director or officer with a Swiss address. If the founder does not have a Swiss address, this role must be filled by a Swiss-resident person or a domiciliation service provider. For a sole proprietorship, a Swiss address is also generally required.

Why are share capital and the bank account issue particularly important for a Hungarian entrepreneur?

In Switzerland, the company formation process is strictly regulated by law, and two steps — paying in the share capital and opening a corporate bank account — are closely linked. As a Hungarian entrepreneur, you are in a special position in several respects:

EU status, but foreign residence. As a Hungarian citizen, you may establish a business in Switzerland freely under the Agreement on the Free Movement of Persons between the EU and Switzerland (FZA, Freizügigkeitsabkommen, 1999). However, this does not mean that banking and administrative procedures will automatically be easier — especially if you do not have a Swiss address or residence permit.

Bank due diligence for foreign founders. In recent years, Swiss banks have been scrutinising the background of foreign-resident founders more closely — partly because of tighter anti-money-laundering rules (GwG — Geldwäschereigesetz). In practice, this means that for a GmbH founder with a Hungarian address, opening a bank account is more difficult and takes longer than for someone with a Swiss address.

Dual administration. If you also have a business in Hungary, you need to pay attention to the double taxation agreement between the two countries (1981, as amended), and to how the income of the Swiss company appears in your Hungarian tax return. This issue goes beyond the scope of this article — it requires a tax advisory consultation.

Which company form should you choose? Comparing share capital requirements

In Switzerland, three main business forms are relevant for Hungarian founders. The share capital requirements and liability structures differ fundamentally.

Company form	Swiss name	Minimum share capital	Number of founders	Liability
Limited liability company	GmbH (Gesellschaft mit beschränkter Haftung)	CHF 20 000	1 person (natural or legal person)	Limited (up to the amount of the share capital)
Public limited company	AG (Aktiengesellschaft)	CHF 100 000 (at least CHF 50 000 paid in at incorporation)	1 person	Limited (to the amount of share capital)
Sole proprietorship	Einzelunternehmen	No minimum share capital	1 natural person	Unlimited (personal assets are also liable)

GmbH: is the most common form among small and medium-sized enterprises. The CHF 20 000 share capital must be paid in full before incorporation. In a GmbH, the members’ names appear publicly in the commercial register (Handelsregister).

AG: typically relevant for businesses with higher capital requirements, when bringing in investors, or when listing on the stock exchange is planned. Of the CHF 100 000 share capital, at least CHF 50 000 must be paid in at incorporation; the remaining amount may also be contributed in the form of a commitment. The shareholders’ names are not necessarily public (for registered shares, the share register is not public, but the beneficial owners must be reported to the bank and the tax authorities).

Sole proprietorship: no share capital requirement, but the entrepreneur is liable with their entire personal assets. A Swiss address is generally required. For persons resident abroad, this form is rarely practical.

Important: for a GmbH and an AG, at least one executive officer with a Swiss address (Geschäftsführer / Verwaltungsrat) is required, and that person must have signing authority. If you do not have a Swiss address, this role must be filled by a Swiss resident or a domiciliation service provider — which entails additional costs.

How does share capital payment work? The sequence many people misunderstand

The process of paying in share capital in Switzerland follows a strictly defined sequence. The most common misunderstanding is that many people think the company must be registered first and only then can a bank account be opened. It works the other way around.

The correct sequence step by step

Founders’ decision and preparation of the articles of association. The founders determine the legal form, the amount of share capital, the members’ ownership interests, and the executive officers. The articles of association (Statuten / Gesellschaftsvertrag) must be signed before a notary.

*Opening a blocked bank account (Kapitaleinzahlungskonto).* The share capital must not be paid into an existing current account, but into a special blocked account opened for this purpose. The bank maintains this account for the payment of share capital and as proof for company registration — the funds remain blocked until the company has been registered.

Payment of share capital. The founders transfer the specified amount (in the case of a GmbH, at least CHF 20,000) into the blocked account. The bank issues a certificate (Bestätigung der Kapitaleinlage) confirming that the payment has been made.

Notarial deed and application for registration of the company. With the bank confirmation, the articles of association and the other required documents, the founders sign the incorporation deed before the notary and then submit the application for registration to the cantonal commercial register office (Handelsregisteramt).

Company registration and release of the blocked account. The commercial register enters the company and issues the registration extract (Handelsregisterauszug). After that, the blocked account is released and the share capital becomes available to the company — this is when the actual business current account is opened.

In summary: blocked bank account → payment of share capital → notary → commercial register → current account. The blocked bank account is therefore opened before the company is registered, while the actual business current account is opened afterwards.

Opening a business bank account in Switzerland: banks, conditions, documents

Opening a business bank account is one of the most critical — and for many Hungarian founders the most frustrating — steps. In recent years, Swiss banks have significantly tightened their due diligence procedures.

Which banks open business accounts for foreign founders?

There is no single “best” bank — the choice depends on the type of business model, annual turnover, and whether the founder has a Swiss address. The following banks are typically available to GmbH founders, but the conditions vary from case to case:

UBS, Credit Suisse (currently integrated into UBS): large banks, detailed due diligence, higher minimum requirements.
Raiffeisen: regionally organised, also accessible to smaller businesses, but dependent on the cantonal branch.
PostFinance: a bank based on the postal network, with a simpler process in some cases, but it does not accept every type of business.
Neon Business, Finom, Yapeal: digital / neo-banks, faster onboarding, but with limited services and not always suitable for opening a blocked account.
Valiant, Clientis, Migros Bank: regional and medium-sized banks, sometimes more flexible.

Important: not every bank opens a blocked account (Kapitaleinzahlungskonto) for founders resident abroad. It is worth clarifying this in advance — even by phone or email — with the bank you are considering before starting the incorporation process.

What documents are required?

The following documents are typically required, but individual bank requirements may vary:

Valid identity document of the founders (passport)
Proof of the founders’ residential address (e.g. utility bill, official certificate — no older than 3 months)
Draft of the planned articles of association (Statuten)
Description of the business activity (business plan or brief summary)
Declaration of the beneficial owner (wirtschaftlich Berechtigter) (FATF requirement)
In some cases: documents proving the founders’ financial background (bank statement, proof of income)

Processing time: typically 2–8 weeks, but for founders resident abroad it can take 2–3 months.

Tax and accounting implications: what you need to know about share capital and the bank account

Swiss corporate income tax

In Switzerland, corporate income tax (Gewinnsteuer) applies to profits at federal, cantonal, and municipal level. The federal tax rate is 8.5% (calculated on taxable profit, which corresponds to an effective rate of about 7.83%). Cantonal rates vary significantly: in Zug and Nidwalden, the effective combined tax burden is around 11–12%, while in other cantons it can reach 20%.

Share capital is not taxable income

Payment of share capital does not count as taxable income — it is part of the company’s equity. However, share capital may be subject to capital duty (tőkeilleték (Emissionsabgabe) ): for AGs, a 1% federal duty is payable on the portion of capital exceeding CHF 1 000 000. This rule may also apply to GmbHs if the share capital exceeds CHF 1 000 000.

Accounting obligations

Every Swiss company must keep accounts in accordance with the Swiss Code of Obligations (Obligationenrecht / OR). GmbHs must prepare annual balance sheets and income statements. Above certain size thresholds (for two consecutive years: total assets > CHF 20 million, revenue > CHF 40 million, or > 250 employees), an audit is mandatory (ordentliche Revision).

Common mistakes and pitfalls: what should you avoid as a Hungarian founder?

1. Choosing a bank without thorough preliminary research

Many people approach the first major Swiss bank and lose months before it becomes clear that the bank does not open accounts for companies matching their profile. It is worth contacting several banks at the same time.

2. Incomplete or inadequate documentation

Swiss banks do not tolerate incomplete documentation. An expired proof of address or an uncertified translation can cause weeks of delay. All documents — especially those issued by Hungarian authorities — should be submitted with certified translations.

3. Missing a Swiss resident director

If the founder does not have a Swiss address and does not arrange for a Swiss-resident director (Geschäftsführer mit Wohnsitz in der Schweiz), the application for company registration will be rejected. This is not an optional requirement — it is required by law.

4. Confusing the capital payment account with the operating account

The capital payment account (Kapitaleinzahlungskonto) is used exclusively to receive the share capital and is blocked until the company is registered. It cannot be used to carry out business transactions. The actual business bank account is opened only after the company has been registered.

5. Defining the business purpose too imprecisely

A discrepancy between the business purpose entered in the commercial register (Zweck) and the business description presented to the bank can cause serious problems when opening a bank account. The two documents must be consistent.

6. Ignoring cantonal differences

The company formation procedure, notary fees, and tax burden vary from canton to canton. Zürich, Zug, Geneva, and Basel each mean a different tax and administrative environment — this decision should be made consciously, not based solely on the convenience of the registered office.

Where can you find help? Sources and advice for Hungarian founders

In official Swiss sources

ch.ch — the joint portal of the Swiss federal and cantonal authorities, where basic information on self-employment can be found.
kmu.admin.ch — the portal of the Federal Department of Economic Affairs (SECO) for small and medium-sized enterprises, with incorporation guides, checklists, and links to the cantonal commercial registers.
Handelsregister — the cantonal commercial registers are available online, and the data of registered companies can be searched publicly.

Involving professional advisors

Swiss company formation — especially for founders resident abroad — is not recommended without legal and accounting support. It is advisable to involve the following professionals:

*Swiss lawyer (Rechtsanwalt) or notary (Notar):* required for preparing the articles of association and certifying the incorporation deed.
*Fiduciary (Trustee):* In Switzerland, accounting, tax advisory, and business administration tasks are typically handled by fiduciaries — they can also help with opening a bank account, bookkeeping, and tax returns.
Professionals who speak Hungarian: Hungarian-speaking accountants and lawyers, or professionals who communicate in Hungarian, are available in Zürich, Bern, Genève, and Basel — you can also find such specialists through the svajc.com community platform.

Sources

Swiss federal portal (ch.ch): https://www.ch.ch/en/
KMU Admin — Federal SME portal: https://www.kmu.admin.ch/
Self-employment in Switzerland (ch.ch): https://www.ch.ch/en/work/self-employment/
Swiss Federal Office of Justice — Commercial law (OR): https://www.admin.ch/opc/en/classified-compilation/19110009/index.html
Federal Tax Administration (ESTV / AFC): https://www.estv.admin.ch/