Banking license

Before starting any business subject to authorization, permission is required from the Swiss Financial Market Supervisory Authority (FINMA). Any business activities carried on without the required authorization are subject to prosecution under criminal law as provided in the laws governing precautionary supervision

Procedure for obtaining a banking or securities dealer’s license :

A number of guidelines and forms are available to assist banks, securities dealers and asset managers of collective investment schemes in preparing licence applications and help institutions that already hold a licence comply with the various reporting obligations and implement efficient working practices.

Guidelines for licence applications for 

• Guidelines for license applications for banks and securities dealers
• Guidelines for license applications for branches and representative offices of foreign banks and securities dealers in Switzerland

1. The FINMA examines the information given and may ask for supplementary details 

2. The FINMA examines the statutes and regulations of the new bank and often will make changes and corrections     

3. The summary of the general meeting that decided on the statutes to be corrected may be requested 

4.  When authorisation is given, the bank is put on the FINMA list and may operate in Switzerland