Our Latest Blog Posts
Trusts and the transparency register – who is the beneficial owner when a trust holds an ownership interest in a Swiss company
Chains of control in the transparency register – when intermediate companies must be reported
No Correct Report to the Transparency Register Without a Sanctions Check
When a shareholders’ agreement constitutes acting in concert for the transparency register
What Swiss Startups Need to Know About Their Reporting Obligations to the Transparency Register
Banks and the discrepancy notification for domiciliary companies
Domiciliary companies have different beneficial owners at the bank than in the Transparency Register
Control by Other Means: When a Person Without Shares Still Has to Be Reported to the Transparency Register
Notification Obligations under the LETA: What Shareholders, Members and Beneficial Owners Need to Know Now
Beneficial Owners Under the Transparency Register Explained
Frequently asked questions
Who within the company is responsible for determining beneficial ownership and carrying out the verification with the required due care?
The most senior member of the governing body. That person may delegate the task but remains responsible for the proper filing of the report (Art. 12 LETA).
What happens if a shareholder does not cooperate in determining the beneficial ownership?
The company documents the steps it has taken (Art. 8 para. 2 LETA) and states in the report that the verification was unsuccessful (Art. 9 para. 3 LETA, Art. 21 LETO). An intentional breach of the cooperation and reporting obligations may result in a fine of up to CHF 500,000 for the shareholder concerned (Art. 43 let. a LETA).
Is a copy of an identity document always required?
The company must establish whether the person concerned has an OASI number. Only if that is not the case must it obtain a copy of the passport, identity card or foreign national identity card (Art. 10 para. 2 LETO).
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