Tel:  +352 2088 1896  +312 0808 4775



Private Client & Trusts

From simple to more sophisticated structures established for succession purposes, asset protection, tax efficiency, family governance or confidentiality, our team is focused on providing the absolutely best and right advice for each client.

Companies or individuals wishing to establish their headquarters in Luxembourg can do so at the offices of Global Trust Formation by establishing a Luxembourg corporate address under a domiciliation agreement.

In conjunction with our sister company Fiduciaire de Villette S.A.R.L  we are able to establish and reach your goal.

Our approach is flexible and scalable, meaning that you receive the exact level of support you need — no less, no more. We can help you manage your needs, and can provide you with a prime, single point of contact which fits with your needs.

Call our trust advisors in complete confidence

Global Trust Formation.,
18 boulevard Royal,
L - 2449 Luxembourg.
Tel:   +352 2088 1896

In order to make itself even more attractive as a financial center and to compete with legislation from Germany, Switzerland, Austria, Belgium and Holland, Luxembourg has added a highly anticipated inheritance planning instrument to its legislative arsenal, a tool which could be qualified as a “Luxembourg trust”. In March 2013, the Luxembourg authorities introduced legislation for this new tool, known as the Luxembourg “private foundation,” which offers a competitive and attractive alternative to others such as Anglo Saxon trusts.

Setting up a Luxembourg private foundation

This new vehicle is designed to ensure the cohesion and conservation of family wealth, the continuity in its management and protection of privacy.  

The private foundation is vested with legal personality, ensuring its safety and protection while permitting the management of its activities. The objective of the foundation is limited to the management and administration of private inheritance and excludes all business activities. However, there is no restriction on the types of assets that can be held by an LPF (shares, patents, real estate, etc.) compared to the Luxembourg private wealth management company (so called SPF, a form of holding company).

The foundation is an orphan vehicle in that it has no shareholders or members, but rather three types of particpants: settlors, beneficiaries and managers.

The settlors define the constitution and allocate assets to the foundation. They are the 'deus ex machina' of the structure. In the constitution, the settlors designate which people or organizations will benefit from the products or capital in the foundation's assets.

The assets are administered by managers (or an accounting firm) which are tasked with growing the foundation's equity while respecting the wishes of the founders.

Luxembourg private foundations are created in the same way as other companies- through notarial deed. It indicates the identity of the settlor or settlors, the name of the foundation, its duration, location (necessarily in Luxembourg), its objective, the intial amount allocated (minimum of 50,000€ in cash or in kind), the identity of the administrators and/or the members of the supervisory board and who appoints the beneficiaries either directly or indirectly.

In order to protect the anonymity of the participants, while keeping in mind that the constitution of these vehicles is published in the Memorial section C, the administrators must send in an extract to the trade register mentioning only the name of the foundation followed by the designation of 'patrimonial foundation', the duration, location, objective of the foundation and the identity of the administrators and/or the members of its supervisory board.

Although bookkeeping and financial statements are required, the accounts are not filed or published in the Luxembourg Trade Register.

Although registration in the trade register is mandatory, it does not mean that the foundation is commercial in nature.


The SPF, defined

The form of the SPF, Luxembourg's private wealth management company, excludes all forms of partnerships. A Luxembourg SPF must be a SARL, SA, a cooperative or a corporate partnership limited by shares.

A Luxembourg SPF cannot have any commercial activity and must be purely a holding, meaning that its activities are limited to the acquisition, holding, management and execution of financial assets.

The shareholders of a Luxembourg SPF must be natural persons or patrimonial entities acting exclusively on one or more natural person’s interests. The articles of association of a Luxembourg SPF must subject the company to the SPF law.

Tax provisions for Luxembourg SPF (private wealth management)

The main provision (found in the statute of the Luxembourg Holding 29) is that the SPF is exempt from Luxembourg income tax, wealth tax and municipal income tax.

Luxembourg private wealth management holding companies are subject to an annual subscription tax of 0.25% on share capital and on debts in excess of 8 times the amount of paid up share capital and share premiums.

Additionally, the tax regime for parent and affiliate companies are not applicable to Luxembourg SPF. These private wealth management vehicles also cannot be subject to VAT.

Directors and Nominee Directors in Luxembourg

The legal framework containing the duties of directors and nominee directors in Luxembourg is the Company Law, also known as the law on commercial companies of August 10, 1915, with its subsequent amendments and additions. This legislative document contains the most important information regarding directors in Luxembourg for public and limited liability companies
The law stipulates that companies in Luxembourg can have either a single tier structure or a two tier structure. In the first case, the company has only a Board of Directors composed of at least three members and at least one director. Two tier structures have, apart from the Board of Directors, a Management Board.

A company director in Luxembourg is appointed during the general shareholder’s meeting and can also be removed by the shareholders. The maximum period of time during which an individual can occupy this position is six years, after which he can be re-elected. An individual acting as a company director can resign at any time provided that the resignation does not damage the company.

There are no specific legal requirements for appointing a director in Luxembourg. However, companies will make the most suitable choice based on the experience and qualifications of a particular individual. Foreigners can also become company directors in Luxembourg but it is advisable to have at least one Luxembourg resident director. The directors are responsible for the company, in accordance with the common law. They are jointly and severally liable to the corporation or to any third party, for any damages resulting from violations of the provisions of the Company Act or the company’s bylaws. A director who has an interest opposite to that of the company, in a transaction subject to the approval of the Board of Directors is obliged to advise the board and to include this statement in the minutes of the session of the general meeting. This meeting is made before any other meeting where the director where the directors may have opposite interests and may vote.

Large companies in Luxembourg that have more than 1,000 employees must have at least nine directors in the Board of Directors and one third of them must be appointed as representatives of the employees. Companies with a single shareholder can be managed by a single director.

The term of nominee director doesn’t have the same connotation as it has in an offshore jurisdiction. In these jurisdictions, the name of the nominee is rented during the incorporation process and after than it must give all the powers to the beneficial owner trough a power of attorney.
In Luxembourg, the company’s nominee director is responsible for delivering relevant information regarding him and the company to the competent authorities, records the company in the registers and at the authorities, sign and administrate all the company’s bank accounts, participate at annual audits, gather general meetings of the shareholders and provide any information required in the company’s liquidation or transformation process. Some of these responsibilities can be limited by the company’s articles of association provisions. This is the reason why the appointed person must be a trustworthy person but also the reason why it is not a common procedure here.

A director’s duties and responsibilities

A Luxembourg company director must act in good faith and for the best interests of the company. They have the authority to act on behalf of the company and must, in their actions, express the goals of the legal entity. The Board of Directors has the duty to improve the action plan and manage the company’s activities.
A director can own shares in the company but this is not mandatory. They also do not have to be employed by the company and they have remuneration rights, as decided during the general shareholder’s meeting.
Company directors have civil liability and criminal liability towards the company, as such:
- civil liability: contractual liability, liability for violating the Articles of Association, tort liability, liability for the insolvency of the company;
- criminal liability: criminal offences like breaching the obligations towards the Luxembourg tax authorities or criminal offences in case of bankruptcy (under certain conditions) and other mismanagement acts.
Another legal entity can also be appointed as a member of the Board of Directors but in this case it must appoint a permanent representative in charge of the execution of this mission in the name and on behalf of the corporation. This representative is subject to the same conditions and the same responsibilities as if he were an individual without bringing prejudice to the legal entity that he/she represents. Executive Board members are appointed for a period determined by the statutes not exceeding six years. They may be reappointed. In case of vacancy of a member of the Board, the remaining members, unless otherwise provided in the bylaws, have the right to temporarily fill such vacancy.
For more information about corporate governance and issues related to company incorporation and management please contact our legal firm.


Switzerland is world-renowned as a premier financial and banking center. For many years, the country has been a magnet for foreign investment as well as a place to conduct safe and secure banking transactions. This is due, in large part, to a well-established and solid financial infrastructure having a tradition of sound asset management and a focus on privacy that dates back at least 200 years. The term Swiss bank has become synonymous with an institution where professional service coupled with customer privacy and absolute security of assets is to be expected.



Major financial and business centre in Europe.
Politically stable.
Highly respectable jurisdiction, and home to many major international corporations.

Favourable  corporate tax legislation:

Switzerland imposes a withholding tax. Where applicable, this can be reduced, or even eliminated, by making use of the many Double Taxation Agreements currently in place.
Minimum capital requirement for a company limited by shares (AG / SA) is CHF 100,000, of which a minimum of CHF 50,000 must be paid in, and CHF 20,000 for a limited liability company (GmbH / SARL), of which a minimum of CHF 10,000 must be paid in.
Various classes of shares can be issued. However, whilst companies limited by shares may issue bearer shares, limited liability companies may not.
For a company limited by shares, there is a minimum requirement of one director. For a limited liability company, there is a minimum requirement of one person to act as 'manager'.
Companies limited by shares and limited liability companies must prepare accounts annually. The accounts of a company limited by shares must be audited, whereas the accounts of a limited liability company do not need to be audited.



The name of a corporation incorporated in the French speaking Cantons usually end with SA, whilst in the German speaking Cantons the ending is usually AG. For limited liability companies, then ending is usually SARL for companies incorporated the French quarter and GmbH in the German quarter.

It is possible to establish either entity in any of the Swiss Cantons.


Geneva and Zurich are obviously internationally recognised centres and can offer a highly credible image to companies established there.


However, Canton Zug is also extremely popular and offers one of the lowest tax rates of all the Cantons in Switzerland. Zug is one of the world's leading commodities trading centres and is also home to many major international corporations. In discussing these three cantons, it is important to stress that we also incorporate in all of the other Cantons.


It is possible to establish various 'types' of companies, including general trading companies, holding companies, and service companies, each of which can have a different tax liability, depending upon the Canton of choice.


The corporation is the more popular choice of company form. The minimum capital requirement is CHF 100,000, and there is no maximum. The capital is divided into shares with a minimum par value of CHF 10.

At least 20% of the stock capital, with a minimum of CHF 50,000, must be paid up initially. Capital contributions can either be in cash or in kind. If the corporation has no need for additional cash, the balance does not have to be paid up within any specific period of time and may just remain as a potential liability of the shareholders toward the corporation.

A corporation has a choice of the class of share to be issued, or can issue multiple classes. If the corporation issues bearer shares, however, then the capital must be fully paid in.

In the case of a limited liability company, the capital may not be less than CHF 20,000, nor more than CHF 2 million. The contribution of each partner must be in multiples of CHF 1,000. At least 50% of the capital contribution i.e. CHF 10,000 (where the minimum is issued), must be paid up at the time of incorporation. Limited liability companies cannot issue bearer shares.


With respect to directors, a Swiss trading corporation must have at least one. There is also a requirement for a minimum of one Swiss citizen, resident in Switzerland, to sit on the board.

Therefore, where only one director is envisaged, he/she must be Swiss. Where foreign directors are to be appointed the Swiss directors must be in the majority. However, it is now possible for an EU or EEA citizen, resident in Switzerland, to act in this capacity, and sit on the Board.


For a limited liability company, the term used is manager rather than director. The criteria here are slightly less onerous in as much as there must be at least one manager who is resident in Switzerland and he/she can either be a Swiss citizen or a foreigner.

It is also possible to have two or more foreign managers who are not resident in Switzerland, with just one Swiss-based manager. The 'Swiss majority' rule does not apply to this type of company.


Both types of entity must submit annual tax returns and accounts, however in the case of a corporation accounts need to be audited.


The formation process is similar in both cases. Basically, the client chooses their preferred canton and choice of company name. A name availability check is carried out and if the choice is available it will be reserved.

The company memorandum and articles of association and other documentation are prepared and a Swiss bank account opened in the name of the proposed company. The shareholders then transfer the capital to the bank account. The bank will then 'freeze' this capital for a few days and issue a certificate to the Notary confirming that the capital has been deposited. The Notary then proceeds to register the company at the Commercial Register. The capital is then 'unfrozen' by the bank, and is immediately available for the company's use.

The Commercial Register issues the relevant documents of incorporation and the process is complete. This is only a very broad outline of the process, which can be completed reasonably quickly assuming timely transfer of the capital to the bank.


We are able to offer the following services:

Company incorporation
Provision of local directors/managers
Nominee shareholders
Registered office facilities
Virtual office facilities
Company management and administration
Bank introductions
Tax, accounting, and audit work
Legalisation of documents
Fiduciary services


The suitability of Switzerland for a subsidiary of a foreign-owned company is established. In many cases the following features were relevant:

Centrally located in Europe, stable political situation, liberal laws which are based on the free enterprise system, hard currency and the free transfer of funds supported by a well functioning organization of banks protected by legal Banking Secrecy Law. Important, of course, is the low taxation.


Why choose Zug, the capital of the Canton of Zug, with 23'000 inhabitants (the Canton of Zug 100'000), as domicile of a new company?

Some arguments include:

The favorable geographic location (15 miles from Zurich and Lucerne and about 20 miles from the Zurich International Airport with direct railway connection).

Low tax rates offered by the Canton of Zug for holding and service companies.

Friendly and co-operative Public Services, including Tax Administration.


For the purposes envisaged, a company limited by shares (Aktiengesellschaft, AG, S.A., S.p.A., Inc.) or a company with limited liability (Gesellschaft mit beschränkter Haftung, GmbH, S.a.r.l, Ltd.Liab.) is suggested.

The limited or unlimited partnership (Kommanditgesellschaft, Kollektivgesellschaft) is recommendable in particular cases.

Please be aware, that pursuant to the US Tax Legislation a Ltd. Liab. is not considered as a legal entity, but merely as a partnership.

We take the liberty of summarizing the nature of a company limited by shares, which is subject to Swiss law; the company with limited liability has, to a wide extent, the same rules, if not specified otherwise hereinafter:

a) It is a company having its own company name and a predeter¬mined capital (capital stock) which is divided into parts (shares or stock). The liability of the company is limited to the company's assets. Shareholders have no duties other than those stated in the articles of Incorporation and are not personally liable for the debts of the company.

b) The Articles of Incorporation contain the fundamental rules. They are deter¬mined by the founders and may be changed by the general meeting of shareholders. They must contain; the name and legal domicile of the company; purpose of the company; par value of the individual shares; the type of shares; how the share capital has been paid in; the procedure for calling a general meeting of shareholders and the voting rights of the sharehol¬ders; the bodies which are to manage and to audit the company and the manner in which the company is to be represented; the manner in which the company publishes its official notices. The company with limited liability is managed by the stakeholder if not otherwise agreed, and does not require an audit.

c) The name of the company may be chosen freely, provided that the content of the name is true, is not misleading or contrary to any public interest. It must also be clearly distinguishable from any other company’s name already registered in Switzerland. Some special denominations such as “Swiss”, “interna¬tional", “intercontinental”, “European” etc could be refused by the Register of Commerce, if the content would be misleading or untrue.

d) The share capital of the company shall amount to a minimum of CHF 100,000 (Company with limited liability: CHF 20,000 up to a maximum of CHF 2 Million). If bearer shares are issued (not possible for the company with limited liability), full payment is required. If the shares are issued to a named individual or corporation etc, at least CHF 50,000 must be paid in on a capital of CHF 100,000, and a minimum of 20 % in case of a capital of CHF 250,000 or more. The minimal capital of CHF 100,000 is usually fully paid in. Bearer shares may be changed into registered shares or vice versa.

e) The bodies of the company are the General Meeting of Sharehol¬ders, the Board of Directors and the Auditor(s). The company with limited liability has as statutory body only the stakeholders meeting, an additional management and auditors are admitted if provided so in the Articles.

The General Meeting of Shareholders is the supreme authority of the company.

It has the inalienable power:

• to adopt and to amend the articles of Incorporation;

• to elect the Board of Directors and the auditors;

• to approve and accept the profit and loss statement, the balance sheet, and the business report; to determine the allocation of the net profit, and, in particular, to declare dividends as well as profit sharing by directors;

• to release the members of the Board of Directors from any liability with regard to the reports as mentioned in sub-paragraph 3 above;

• to decide upon all matters which by law or by the articles of incorporation are made subject to the decision of the General Meeting of Shareholders and not reserved for the Board of Directors.

The Board of Directors is entrusted with the management and with the supervision of the company. It consists of at least one member. The Swiss Code of Obligations requires that the majority of the Board of Directors are of Swiss Nationality and residing in Switzerland (1 Swiss; 1 foreign and 2 Swiss; 2 foreign and 3 Swiss etc.). The members of the Board have to be shareholders (even fiduciary title). In the company with limited liability the General Meeting of Stockholders matches the functions of the Board of Directors as well, therefore one stockholder must be residing in Switzerland (but doesn’t need to be a Swiss national).

The Auditor has to examine the balance sheet and the profit and loss statement annually, and has to report to the General Meeting.

f) If the articles so provide, the Board of Directors may dele¬gate the management to third persons (Managers), who need not be members of the Board of Directors or shareholders, according to a special Board Regulation, but they keep the ultimate financial responsibility. The Swiss Law does not exclude or restrict foreigners as managers. All of these managers may be citizens of other countries, and do not need to have residence in Switzerland.

g) Personal responsibility. The members of the Board of Directors or the Managers are personally liable to the company or to creditors for damages caused by an intentional or negligent behavior.


They are rather straightforward:

a) At least three persons have to act as founders (Ltd.Liab. two founders). It is not necessary that these persons are identical with the later shareholders of the company. Owners Very often use trustees (fiduciaries), who have to know the identity of the beneficial owner. After the formation, the shares may then be transferred to the beneficial shareholders or nominee; Swiss law allows that after formation all shares are held by only one shareholder.

b) The founders have to adopt the Articles of Incorporation and to deposit the share capital in Swiss francs with a bank in Switzerland. Instead of a cash payment, the capital can be contributed in kind (this however requires a special audit and a special founder's report concerning the value of the contribution and the founders are liable that the estimated value is correct).

c) The act of formation and the respective decisions of the founders have to be certified in a notary deed by a public notary. The entire procedure may be handled in our lawyer’s office since they have the commission to act as notary public in the Canton of Zug.

d) As soon as the formation meeting has taken place, the Federal Formation Tax (Stamp Duty) in the amount of one percent of the paid in capital (but minimal the nominal amount of the total of share capital) has to be paid for the amount of said capital above CHF 250,000. Payment of such tax may be made out of the paid in capital and can be depreciated within five years.

e) The formation is completed by the registration of the new company in the Commercial Registry and its publication in the Swiss Commercial Gazette. Registration and publication indi¬cate name, domicile, purpose, total capital and value of the shares, members of the Board of Directors, the designation of the persons authorized to sign for the company, and the Audi¬tors. They do not show the names of the shareholders (in the case of the company with limited liability the names and the stakes of the shareholders are published).

f) The formation of a company can be effected in about 2 - 3 weeks as soon as the founders agree on the articles, transfer the necessary capital, and obtain permission from the Commercial Registry for the name of the company (if necessary).


The Swiss law protects the business secrecy to a large extent and knows only a restricted obligation to submit business documents to public authorities, creditors and to publish balance sheets etc:

a) Upon formation of the company, the Deed of Incorporation (with the names of the founders) and the articles are deposited with the Commercial Registry. The publication in the Swiss Commercial Gazette, as explained under 3.e. above, only gives restricted information.

b) The annual report of the Board of Directors, balance sheet and report of the auditors have only to be communicated to the shareholders. A duty for publication or for depositions of these documents does not exist with the exception as referred to below (c). If the company has only one shareholder, confidentiality is complete.

c) The balance sheet and the auditors report (with the exception for the company with limited liability) finally accepted by the shareholder's meeting has, upon their request, to be sent to creditors with a legitimate interest.

d) Full information relating to assets and liabilities and profits of the company has to be submitted to the Tax Autho¬rities. Annual report and balance sheet are to be submitted to them. Tax Authorities are subject to secrecy applicable to public officials. The Tax Registry is public, but only shows final figures (taxable capital and reserves and taxable profit).

e) Switzerland usually grants legal assistance in criminal cases including cases of tax fraud (deceiving with malicious intent, including forgery), and violations of high-tech export regulations to some countries, including the United States. In all other fiscal matters (customs, taxation, currency regu¬lations etc.) legal assistance will not be granted except for the United States in case of organized crime.


Switzerland has different State bodies (Federation, Canton, Communities) and all those bodies are entitled to collect taxes. Some taxes are federal (Income Tax, Withholding Tax, Stamp Duty), others are cantonal or communal, both pursuant to cantonal tax laws (Income Tax, Capital Tax).

The Taxation further differs whether the company is a normal company engaged in production and trade or is a holding or service company. The holding and service companies are privi¬leged. But even the taxation of an ordinary company is modest.

Besides the normal taxes, the following aspects must be considered:

a) Dividend Withholding Tax. On dividends or other distributions of profits (construed dividends) there is a federal anticipatory tax of 35 % (Withholding Tax) which will be refunded to foreign shareholders, if, and as far as, a double¬-taxation treaty between Switzerland and the shareholder's country so provides. Where a double taxation treaty permits this, and subject to a notification to the foreign tax authority, this tax may only be paid with the part remaining in Switzerland (provided that the holding company is a foreign legal entity).

b) A key question for the taxation is the possibility to deduct expenses from the
gross income. It is essential for the tax burden to establish to which extent and according to which principles companies and branch offices of foreign companies can deduct expenses for business done in connection with business between two foreign countries. Contrary to earlier regulations, a flat rate for covering the costs (the so called 50:50 regulation) can no longer be applied, rather the usual regulation for proving businesslike justification of booked expenses is administered. These regulations include:

aa) The expenses must be reasonably argued and supported by documents. This also holds for acquisition and exploitation of immaterial values such as patents, trademarks, rights and such things.

bb) The expenditure claimed in favour of shareholders/partners and third persons close to them must bear close examination in independent comparison, considering an appropriate range of fluctuation ("dealing at arm's length" - grounds according to the regulations of the OECD from 1995 concerning international pricing). "Third persons close to the shareholders/partners" are also persons to which an economical and personal connection exists; which, in view of the entire circumstances, gives the real reason for unusual payments to be classified as taxable. In particular, third persons are also regarded to be persons close to the shareholders/partners, when they use a Swiss company, with the consent of the partners, for their own businesses.

cc) The tax authorities have high demands where the proof of businesslike grounds is concerned, and all documents required for the proof must be entirely available in Switzerland. In particular, one of the key elements of proof is the naming of the true beneficiaries. Expenses in favour of companies residing in tax havens, and payments to bank accounts and other accounts of that kind without disclosing the real beneficiary of such payments, are not accepted as businesslike justification.

dd) Where business done in foreign countries is concerned, the tax authorities give legally binding information about the adequacy of compensation for services to be given or received. In order to assess the adequacy of compensation to be booked in the accounts such as salaries, fees, commission, licence fees, provisions etc., the tax authorities have to be provided with a balance sheet and profit and loss statement showing the figures anticipated for such business (business plan). The tax authorities will only grant deduction of such expenses as far as businesslike justification can be proven. The burden of proof lies with the taxpayer. If proof cannot be provided or only incomplete proof is given, the tax authorities will set the tax factor according to their own judgement.

c) The Managers residing in Switzerland are subject to the normal taxation for individuals. The Canton of Zug has on average one of the lowest tax rates for individuals residing in Switzerland.

d) Procedure. When preparing the formation of a company in the Canton of Zug, contact should be made with the President of the Tax Authorities, in order to receive confirmation of the tax status in writing, if any particulars are in question. This is not a tax agreement but simply confirmation from the Tax Authorities, that under the circumstances described, the tax laws are being applied accordingly. The Tax Authorities have always faithfully kept such confirmations.


The corporation tax rates in the Canton of Zug varies according to the tax status of the company: ordinary operating companies, holding companies, domicile companies (with only a nominal office and no activity in Switzerland) and the mixed company/administrative company (with mainly foreign activities).

First of all there is a federal corporate taxation for all types of companies of 8.5 % of the annual net profit after tax, i.e. on average 7.83 % net (exception: Holding company).

The cantonal taxes have to be added to that tax.

In the Canton of Zug (and City of Zug), the tax rates are actually (may slightly change annually):

1. Normal operating company:

net profit up to CHF 100,000 14.9 % after tax
net profit above CHF 100,000 19.7 % after tax
capital tax (equity) 0.8 %o

2. Holding company

A Holding Company has the objective of holding participation in other companies (the participation stake must exceed 20 % or CHF 1 Million) to the minimal extent of 2/3 of the holding companies assets or to provide 2/3 of the holding company’s income. Holding companies pay no federal, cantonal or communal taxes on a pure dividend income from such participations. On other profits from participations the federal tax will be 8,5 % after tax (net 7,83 %), the cantonal and communal tax will be similar to the taxes for Service and Domicile Companies:

capital tax (equity) 0.12 %o, min. CHF 240
profit tax as paragraph 1 for:
net profits resulting from real estates in Switzerland
income protected by Double Taxation Treaties, where it is a condition that
they are taxable in Switzerland

3. Domicile company

Companies which have only their domicile in Switzerland i.e. no employees in Switzerland, no offices in Switzerland, no commercial activity in Switzerland:

capital tax (shareholders equity) - 0.12 %o, min. CHF 240
profit tax as par. 1 for:
interest, dividends, capital gains from Switzerland
income from intangible rights in Switzerland
net profits resulting from real estates in Switzerland
income protected by Double Taxation Treaties, where it is a condition that
they are taxable in Switzerland

no taxes on profits from abroad and capital income provided that the conditions for the holding privilege are met.

4. Mixed company

Under “Mixed Company” different kinds of companies are privileged: (i) companies which provide only services to other related companies, and (ii) mixed companies, which may have employees and offices in Switzerland, but with at least 80 % of its turnover resulting from activity outside of Switzerland.

capital tax (equity) - 0.12 %o, min. CHF 240
profit tax as par 1 for:
investment income from domestic sources
income from intangible rights in Switzerland (up to 20 %)
trading income from Switzerland (up to 20 %)
net profits resulting from real estates in Switzerland
income protected by Double Taxation Treaties, where it is a condition that
they are taxable in Switzerland
income derived from outside of Switzerland on a scale calculated in accordance with the number
of full time employees of the company in Switzerland:
- up to 5 employees 20 % of the taxes as par. 1
- 6 to 10 employees 15 %
- 11 to 30 employees 20 %
- over 30 employees 25 %
no taxes on capital income provided that the conditions for the holding privilege are met.

This is obviously only a brief overview.


As it is possible to have bearer shares, it is also possible to act through an “agent” at the time of foundation of the company and at the shareholders meeting. The “agent” is also prepared to act as director. Therefore, the shareholders are not forced to be disclosed and there is no possibility for a private person to pierce the corporate veil.

There are the following exceptions:

• The beneficial owners have to be disclosed to the Swiss bank where corporate accounts are held. The bank will keep this information confidential, and they are not allowed to inform anyone about it.

• The beneficial owners and the books have to be disclosed, upon request, to a Regulatory Body for the control of any financial intermediaries with respect to money laundering. This Regulatory Board is bound to secrecy laws.

• The ownership of the shares has to be disclosed to the Authorities upon formal request in criminal cases, including tax fraud.

Liechtenstein Trusts

Liechtenstein is the only civil law jurisdiction which has largely adopted Anglo Saxon trust legislation (contained in the PGR Code). A major difference being, unlike the common law trust, there is no limitation on the time for which income can be accumulated and no rule against perpetuities.

A Liechtenstein Trust is set up by a written agreement (Trust Deed) between the settlor and the trustee(s). The Trust Deed does not have to contain the names of beneficiaries. If the Trust Deed is deposited with the Registrar of Trusts, it will not be publicly available, and later instruments (e.g. naming beneficiaries) will not have to be revealed. If the Trust Deed is not deposited within 12 months, the following details of the trust must be placed on the public register,

  • A description of the trust
  • The date of formation
  • The duration of the trust
  • The name (or trade name) and address of the trustee

A registration fee is payable on registration. The settlor can make such provision as he wishes for the beneficiaries and include such other trusts and powers as he thinks desirable. The Deed however must not bind the trustee to the settlor’s continuing directions, or the trust will be treated as an ordinary contract. The trustee must keep the trust property separate from his other assets.

Some of the characteristics of Liechtenstein Trusts are as follows:

  • A trustee can be an individual or a corporation; one trustee must be a Liechtenstein-resident individual with appropriate professional qualifications
  • Trustees have a duty of care towards the settlor and the trust property
  • Trustees who carry on business as such must keep an inventory of their trusteeships and must keep each trust's assets separate from other assets
  • if trust assets are deposited with banks they must again be kept in separate designated accounts


  • Trustees are liable for breach of trust to the full extent of their assets
  • Joint trustees must normally act jointly and are jointly liable The Court has ultimate jurisdiction, even if the Trust Deed specifies alternative supervision.
  • The trustee must keep proper accounting records Liechtenstein being a civil law jurisdiction, trust assets may be vulnerable to forced heir ship provisions.
  • The trustee's creditors have no access to the trust assets The settlor’s creditors have access to trust property only under certain defined circumstances, one of which is under law of succession
  • The beneficiaries' creditors have access to the trust assets only if the beneficiary has a vested interest and if the trust deed does not prevent him alienating his interest Trust documents, including the Trust Deed, can be in any language


Since the end of the Second World War, Liechtenstein's low taxes have contributed to outstanding economic growth and it has become increasingly important as a financial centre. Companies are formed in Liechtenstein under the Law on Persons and Companies 1926, also known as the PGR Code. Trust Enterprises are formed under the Law Concerning the Trust Enterprise 1928. There are several forms of corporate, trust and quasi-trust vehicle some of which are unique to Liechtenstein. The most commonly used are the company limited by shares, the limited liability company, the Establishment (Anstalt), the Foundation (Stiftung), the Trust Enterprise and the Trust.

The Liechtenstein Financial Services Industry

The financial services industry is regulated by the FMA Financial Market Authority <country-region Liechtenstein, which commenced operating on 1st January 2005. It is an integrated supervisory body incorporating the Financial Services Authority, the Due Diligence Unit and the Insurance Division of the Office of Economic Affairs.

Please contact us if you have any further questions.


Custodian Services 
To the extent legally permissible, Global Nominees may take the role of a custodian to hold in safekeeping assets such as equities and bonds, arrange settlement of any purchases and sales and collect income from such assets.

Director Services 
We provide nominee directors for clients who require legitimate confidentiality protection or who require their company to be tax resident in Switzerland.

We are also able to effect introductions to independent third party directors situated in Switzerland who can act for Swiss trading companies in appropriate circumstances. We take all reasonable precautions to ensure that any third party director introduced by us has the necessary experience and credentials to provide director services.

Annual fees for director services are dependent on the responsibilities taken on by the directors. In addition, ad hoc work undertaken by the directors is charged for on a time-spent basis.

Shareholder Services 
Certain information on shareholders is publicly available. Some shareholders may, however, require confidentiality for commercial reasons. This problem is often addressed through the use of nominee shareholders. The nominee shareholder will execute a declaration of trust in favour of the true owner of the shares (called the ´beneficial owner´) in which it agrees to exercise all voting rights and otherwise deal with the shares only in accordance with the instructions of the beneficial owner. The name of the nominee shareholder then appears on all public records relating to the shareholding.

We supply legal representatives for those wishing to keep their shareholder details confidential or needing a representative based in Switzerland.


We will provide an offer on a case by case basis depending level of and types of nominee services you require.


To the extent legally permissible, Swiss Reliance may act as a neutral third party devising, arranging and securing the proper exchange and delivery of agreements or assets pending satisfaction of contractual contingency or condition. These assets may comprise cash or other tangible assets but also mission critical intellectual property applications such as source codes.

Escrow arrangements can be used effectively in situations such as mergers, acquisitions and buy-outs, sales, purchases or other transactions, investment offerings (including both public and private equity or debt offerings) and settlement of claims.


Please contact us by phone (+352 2088 1896) or email ( if you are interested in our nominee services. 



Full secretarial services available at our Zurich, Luxembourg City and Amsterdam offices together with luxury boardrooms. 

      Global Trust Formation.,    
      15 Avenue John F. Kennedy,
      Luxembourg City,
      Luxembourg, 1229.
      Tel:   +352 2088 1896
           Global Trust Formation.,
           11th Bath Street, 
           St Helier,
           Jersey JE4 8UT.
          Tel:  +44-1534-727195
        Global Trust Formation.,
        Wickhams Cay, 
        Road Town, Tortola,
        British Virgin Islands.
        Tel:  +1 284 494 2434

              Global Trust Formation.,
              2710 Centerville Rd   #101,
              DE 19808 USA.
              Tel:  +13022619358

      Villette Nominees.,
      60 Zollikerstrasse,

         Capita Investments (Guernsey).,
         La Plaiderie Chambers,
         St. Peter Port,
         Guernsey GY1 1WG.

         Global Nominees.,
         Dixcart House,

        Le Truchot, St Peter Port,
         GY1 3AJ

               Villette Nominees.,
               15 Esplanade, St Helier,
               Jersey JE2 3QA.


Luxembourg-Netherlands -Switzerland-Germany-Liechtenstein-Austria-Delaware-British Virgin Islands-Cayman Islands-Channel Islands-United Kingdom

Luxembourg-Netherlands -Switzerland-Germany-Liechtenstein-Austria-Delaware-British Virgin Islands-Cayman Islands-Channel Islands

Offices facilities-Luxembourg-Netherlands-Switzerland-Liechtenstein-Germany-Austria-Channel Islands-Delaware

18 boulevard Royal, L-2449 Luxembourg (+352) 208 81896