The New Obligations of Swiss Companies under the Transparency Act

Any natural person who ultimately controls a company by holding, directly or indirectly, alone or in concert with third parties, at least 25 per cent of the capital or voting rights in that company, or who controls it in any other way, is considered to be the beneficial owner of that company.

Companies must identify and verify their beneficial owners, report the relevant details to the Transparency Register, and keep their records up to date. Specifically, the duties include: Identifying and verifying beneficial owners Reporting them electronically to the Transparency Register Updating any changes to ownership or control Keeping supporting documentation and evidence The registration process will take place via a central electronic platform or through the commercial register office.

The Transparency Act will come into force in mid-2026, but it is worth preparing now: Companies should review their ownership and control structures, document chains of participation and clearly record all beneficial owners. With Konsento's digital share register, this data can already be mapped in a structured manner, reviewed and prepared for future reporting to the transparency register – in a legally compliant and efficient manner.

The company must record far more than just names and dates of birth. Mandatory information includes: type and extent of control (sole, joint, direct, indirect, through participation or other means), participation category (25–50%, 50–75%, over 75%), the complete chain of control including all intermediate legal entities with VAT number, country of domicile and legal form, and clear proof of identity (AHV number or identity document).