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COUNTRY PROFILE
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Switzerland |
Print article Zurich — one of Switzerland’s major business centres |
Quality of life, quality of business environment, quality of investment. Switzerland has them all. Set in the very centre of Western Europe, this country of seven million has a thriving economy with the fifth highest productivity rating in the world, and attractive taxation and investment laws. Switzerland has a highly educated and well-qualified workforce, most of whom are bilingual in French and German, and have a very high standard of English.
Market and location
Due to the small size of its home market at just seven million, Swiss business has always been international, resulting in an extensive network of commercial and tax treaties, and making it ideal as a base for business across Europe. Switzerland is not a member of the EU, but is part of the EEZ, meaning it enjoys many of the economic benefits of membership. Transport links are good, with 42 airports in the country, a fast and modern rail network, including good freight links, and an excellent motorway system.
Sector overview
Switzerland has one of the world’s largest financial sectors, with a vibrant service sector accounting for about 65% of economic activity within the country overall. Geneva in particular is an international banking and insurance centre, home to many multinationals as well as to Swiss companies.
High tech industry accounts for the remaining 35% of the economy, with research and development a major investment area. Swiss companies are renowned for their precision engineering, and the main exports are machinery, chemicals and metals. A recent study from the OECD rated Switzerland top in the industrialised world for the skill needed for developing high-tech industries, borne out by world-class research facilities such as CERN and the International Computing Centre. Industry clusters have been formed in the areas of biotechnology, medical technology, IT, microtechnology and environmental technology, amongst others.
Company information
Companies can be established by nonresident foreign nationals, although the majority of the board of directors of a Swiss company must be EU nationals living in Switzerland. However, this requirement does not apply to the managing directors of a private limited company (LLC). Switzerland ranked 17th overall in the World Bank’s index on ease of doing business, with key performance indicators including number of procedures, cost and time required to begin operations scoring around the OECD index. Business transparency is high.
Incentives
Labour laws in Switzerland are flexible, and productivity is high. Taxation is low by Western European standards, and holding companies pay no income tax at all. Several of the Swiss cantons (federal states) offer tax breaks to companies and individuals relocating to Switzerland on top of those available from the state, in particular Aargau, Basel, Geneva, Solothurn, St. Gallen, Vaud and Zurich.
Quality of life
A recent article in FDI magazine focused on Switzerland’s exceptional quality of life as an increasing incentive for major multinationals relocating or expanding their European operations in Switzerland. Companies such as Google and Proctor and Gamble cited this as a strong factor in their choice of location.
Facts in brief
 Switzerland is one of the financial capitals of the world |
Switzerland’s location is Central Europe, east of France, north of Italy
Its climate is temperate, but varies with altitude; cold, cloudy, rainy/snowy winters; cool to warm, cloudy, humid summers with occasional showers
Natural resources include hydropower potential, timber, salt
Agricultural products are grains, fruits, vegetables; meat, eggs
Industries include machinery, chemicals, watches, textiles, precision instruments
Switzerland has a civil law system influenced by customary law; judicial review of legislative acts, except with respect to federal decrees of general obligatory character; accepts compulsory ICJ jurisdiction, with reservations
Diplomatic representation in the US — Chief of mission: Ambassador Christian Blickenstorfer
Diplomatic representation from the US — Chief of mission: Ambassador Pamela P Willeford
Contact Information
Swiss-American Chamber
of Commerce
Talacker 41
Zurich 8001
Switzerland
Tel: +41 43 443 7200
E-mail: info@amcham.ch
Website: www.amcham.ch
Useful websites
| bern.usembassy.gov | US Embassy in Switzerland |
| www.locationswitzerland.ch | Federal Investment Agency – wide range of technical and legal info on set up |
| www.geneva.ch | Geneva as a business location |
| www.creativeswitzerland.com | R&D in Switzerland |
| www.statistik.admin.ch | National Institute of Statistics |
| www.about.ch | General information on all aspects of Switzerland |
| www.myswitzerland.com | Tourist and travel information |