Are you thinking about launching your crypto business in Switzerland? Great choice! This beautiful, mountain-filled country is one of the most crypto-friendly places on Earth. But before jumping in, you need to understand how to get a crypto license.
Don’t stress — it’s easier than it sounds. We’ll walk you through a simple step-by-step guide. By the end, you’ll know exactly what to do.
Why Switzerland?
Switzerland is home to the famous “Crypto Valley” in Zug. The country loves innovation, especially in blockchain and fintech. Plus, the laws here are pretty clear and business-friendly.
- Predictable regulations
- Strong financial infrastructure
- Favorable tax policies
Now let’s break down how you can grab your Switzerland crypto license — step by step!
Step 1: Choose Your Business Type
First, know what kind of crypto business you’re building. Switzerland recognizes several categories:
- Crypto exchange
- Crypto wallet service
- Crypto ATM provider
- Broker or dealer
- Token issuer (like for ICOs)
Your category affects the kind of license you need. Some services must follow stricter rules. Others can operate more freely.
Step 2: Create a Swiss Legal Entity
Your next step? Set up a Swiss company. Most crypto businesses choose one of these options:
- AG – A stock company, good for raising capital
- GmbH – A limited liability company, easier to manage
You’ll need:
- A Swiss business address
- At least one director living in Switzerland
- A registered notary to handle setup
You can usually set up your company in 2–4 weeks.
Step 3: Join a Financial SRO (Self-Regulatory Organization)
In Switzerland, crypto businesses fall under AML (Anti-Money Laundering) laws. That means you need to join an SRO licensed by FINMA (the Swiss Financial Market Supervisory Authority).
Here are a few authorized SROs:
- VQF – Financial Services Standards Association
- ARIF – Association Romande des Intermédiaires Financiers
Joining an SRO shows you’re compliant with Swiss AML laws. They’ll evaluate your structure, rules, and internal processes.
This step usually takes 1–3 months.
Step 4: Set Up AML Compliance
This part is crucial. You need to follow Swiss anti-money laundering rules. That means creating a solid compliance strategy:
- Appoint a compliance officer located in Switzerland
- Create “Know Your Customer” (KYC) procedures
- Set up identity verification systems
- Develop policies to monitor transactions
The SRO will review all of this before approving your membership.
Step 5: Apply for a FINMA License (If Needed)
Here’s where things can vary. Not every crypto business needs a full license from FINMA. But some do.
You’ll need a FINMA license if:
- You plan to manage client funds or hold customer assets
- You’re offering financial intermediation services
- You’re launching a security token or an investment product
Typical FINMA licenses include:
- FinTech License (“Banking lite”) – For businesses holding up to CHF 100 million in assets
- Asset Manager License – For firms managing crypto portfolios
Applying for a license is a longer process. It may take 4–6 months, and you’ll need detailed documents:
- Business plan
- AML and risk policies
- Financial statements
- Organizational structure
Step 6: Open a Swiss Bank Account
Yes, it’s tough — Swiss banks aren’t super eager with crypto firms. But it’s possible!
To improve your chances:
- Show your business is compliant with AML standards
- Have strong KYC procedures
- Share your business model with transparency
Banking partners may ask for more info than usual. Be patient and responsive.
Step 7: Launch Your Crypto Business
Now that all licensing and backend work is done — it’s time to launch!
But don’t stop there. Stay compliant. That means regular audits, internal training, and reporting.
Estimated Timeline
Here’s a rough idea of how long everything can take:
- Company Setup: 2–4 weeks
- SRO Membership: 1–3 months
- FINMA Licensing (if needed): 4–6 months
- Bank Account: 1–2 months (often simultaneous)
Total? Around 3 to 6 months depending on your business model.
Costs to Expect
Switzerland isn’t the cheapest country. But it’s worth the investment. Here’s what to budget for:
- Company setup: CHF 5,000 – CHF 10,000
- Legal & compliance advice: CHF 10,000 – CHF 50,000+
- SRO fees: CHF 2,000 – CHF 5,000 per year
- FINMA license: CHF 20,000 – CHF 100,000+ (if needed)
Tips for Success
Here’s how to make the process smoother:
- Work with local experts. Swiss lawyers and consultants are super helpful.
- Keep your documents tight. Good documentation wins you points with SROs and FINMA.
- Start with a clear plan. Know your services and operations inside out.
Can Foreigners Apply?
Yes, they can! But you need at least one Swiss-based director, and sometimes a local compliance officer.
You don’t even need to be physically present to set up — you can do a lot remotely if you’re using a Swiss consultant.
What Happens If I Don’t Get a License?
If you run a crypto business without registering or complying with FINMA rules, you risk fines and shutdown.
It’s not worth it. Switzerland takes financial laws seriously. So always play by the rules.
Final Thoughts
Launching a crypto company in Switzerland is exciting. The country offers credibility, financial stability, and a supportive environment for blockchain projects.
Just follow the steps:
- Pick your business type
- Set up your company
- Join an SRO
- Establish AML systems
- Get licensed (if needed)
- Open a bank account
- Go live and stay compliant
Follow those, and you’ll be operating under the Swiss flag in no time.
Good luck with your crypto journey in Switzerland!