Switzerland: Beneficial ownership

The main action taken by the Swiss legislator lays in the creation of a new Federal Beneficial Ownership Register.

Though Swiss companies are already bound to record the identity of their beneficial owners, this information was held solely by the companies’ management. The new legislation will now require these companies to declare the identity of their beneficial owners in a centralized, electronic and non-public federal register, managed by the Federal Department of Justice and Police.

Companies operating in or through Switzerland should assess how their compliance aligns with existing and new AML rules and how they may affect ownership structures, reporting obligations, and risk exposure.

Our team is tracking developments and assisting clients in preparing for the upcoming implementation phase.