Insights
Founding a Company Using Crypto and Foreign Currencies
Founding a Swiss company using crypto capital is already possible today. The legal requirements are though stricter compared with making a cash contribution in Swiss francs, and potential exchange rate fluctuations must be taken into account. The revised corporate law will make capital contributions more flexible and also open the door to foreign currencies.
The Virtual Shareholder Meeting Becomes a Legal Reality
The revised Swiss company law allows virtual shareholder meetings and enables company formation, capital increases or other shareholders’ resolutions via video conferencing. While the law is not expected to enter into force before 2022, parts of it have already been implemented under temporary Covid-19 provisions.
Switzerland Says Goodbye to Bearer Shares
As of 1 May 2021, all bearer shares of companies incorporated in Switzerland will be converted into registered shares by law. Exceptions are only allowed for equity securities listed on a stock exchange or structured as intermediated securities. Companies and shareholders violating transparency and documentation duties may face penalties.