Opening a Business Bank Account in Switzerland

The bank account is one of the most underestimated steps in setting up a Swiss company, yet it is often the one that slows things down the most. It is needed even before registration, to pay in the capital, and then becomes the company’s operational tool. Banks apply rigorous KYC (Know Your Customer) procedures and, in recent years, have become more selective, especially towards foreign shareholders and activities in sensitive sectors. Let us see how to proceed in an orderly way.

Two accounts, two moments

Anyone setting up a company actually encounters two distinct banking steps:

• the capital deposit account (escrow account), opened before incorporation, into which the share capital is paid. The bank issues a certificate that the notary uses for the deed and the registration in the register;
• the operational business current account, which unblocks the capital after registration and serves for day-to-day management.

Sometimes the two accounts are with the same bank, which converts the deposit account into the operating account; other times a different bank is chosen for operations.

The capital deposit account

This is the first practical step. The required minimum capital is paid in: CHF 20,000 for the GmbH (fully paid up) or at least CHF 50,000 (or 20% if higher) for the AG. The bank blocks the funds and issues the deposit certificate. The capital remains unavailable until the company is entered in the commercial register: only then is it released to the operating account.

The typical documents

Requirements vary from bank to bank, but the core is constant:

• articles of association and deed of incorporation (or draft, for the deposit account);
• extract from the commercial register, when available;
• identity documents of shareholders, directors and signatories;
• identification of the beneficial owner (declaration form);
• description of the activity, business plan, source of funds and countries with which the company operates.

Transparency about the source of funds and the beneficial owners is the heart of the check: vague answers lengthen timelines or lead to rejection.

KYC and beneficial owner

Swiss banks are subject to anti-money-laundering obligations: they must know who really controls the company and where the money comes from. Be prepared to document the chain of control (who holds the shareholdings, down to the natural persons) and the origin of the capital. For foreign shareholders, multi-tier structures or activities in sensitive sectors (crypto, commodities, certain countries) the due diligence is more thorough.

Realistic timelines

Do not expect the account to be opened on the same day. Between collecting documents, KYC checks and internal compliance, timelines range from a few days to several weeks, depending on the complexity of the structure and the profile of the shareholders. To avoid holding up the incorporation, it is advisable to start the dialogue with the bank before going to the notary.

How to increase the chances of success

• Prepare a clear and consistent description of the activity, the customers and the expected flows.
• Document the source of funds in an orderly way.
• Ensure credible economic substance: registered office, activity and, if required, presence on the ground.
• Consider having a resident director, often appreciated by banks.
• Choose the bank based on the profile of the activity: not all of them willingly handle the same sectors.

Mistakes to avoid

• Going to the notary without having prepared the banking channel, risking the capital being stuck.
• Underestimating the questions about beneficial owners and the source of funds.
• Presenting an activity that is poorly defined or inconsistent with the declared flows.
• Ignoring that a rejection at one bank is not final: the profile often just needs to be presented better, elsewhere.

In summary

Opening a business account in Switzerland is feasible, but requires preparation: documents in order, transparency about beneficial owners and funds, and a bank suited to the sector. Addressing the topic early avoids holding up the entire incorporation.

Do you want to arrive at the bank with a complete and credible dossier? SIH ONE’s domiciliation division supports you in opening the account and preparing the KYC documentation.