Trust in Switzerland
Many wealthy people prefer to establish trusts in Switzerland for the purposes of saving their assets as the state has a clear and friendly legislation and taxation with a stable financial situation.
A trust in Switzerland has some distinct advantages:
- A trust incorporator stays anonymous as the constituent documents have no data of the founder
- No annual report is required for the trust activity
- No state financial control for international Swiss trusts is required
Trusts in Switzerland became more popular since 2007 when The Hague Convention about trusts was affirmed by the Swiss government.
Foundation: General Information
A swiss foundation is the kind of a profitless organization which is incorporated by private individuals or legal entities. It can donate funds acting in interests of some other organizations or to provide its own activity to get its earnings for charity aims. A foundation can be created for support of another institutions, it can have various non-commercial goals: social, cultural, educational, charitable, etc.
There are no shareholders at foundation. The foundators get no income for the foundation activity. A foundation becomes a legal entity since it is founded. Being legal entity, it is allowed to open corporate bank accounts, to create companies and to do any other business activity.
A Foundation in Switzerland
An offshore foundation in Switzerland is quite similar to a trust, the difference is that a foundation is a corporation by its legal form. A foundation can be used for protection of assets as well as trust. A foundation in Switzerland can be incorporated by private individual, a family or a group of people or a company. Foundation contributions can be not taxable; all participants of a Swiss foundation may expect the high level of confidentiality.
There are such kinds of foundation in Switzerland: public, state, private and mixed ones. Foundations can be incorporated quite easy and fast, they can be setup for a certain period of time.
Initial Setup Fee: CHF 2190 once
Domicile Address: CHF 100 per month
Minimum Contract: 6 months