Crypto license in Switzerland

Switzerland offers several types of licenses for crypto businesses. The most common is SRO membership, which covers activities like exchange, custody, brokerage, and payment services. More complex businesses, such as those taking deposits or running a DLT trading platform, may need a FINMA banking, fintech, or DLT trading license. Investment fund licenses are also possible for crypto asset managers.

The process starts by forming a Swiss company (GmbH or AG). You must prepare documents—including a business plan, AML/KYC policies, and compliance manuals—and register a Swiss office with a local director. Next, apply for SRO membership (or the needed FINMA license), open a bank account, and undergo due diligence. Approval typically takes 1 to 4 months. After approval, you can start operations, subject to ongoing compliance.

The Swiss Financial Market Supervisory Authority (FINMA) supervises most crypto businesses and issues the main licenses. Many smaller crypto companies are overseen by Self-Regulatory Organizations (SROs), which are private bodies recognized by FINMA. SROs provide ongoing support, training, and compliance oversight.

A Swiss GmbH requires at least CHF 20,000 in share capital, while an AG starts from CHF 100,000. A physical Swiss office and a local director are needed. For most SRO membership activities, there is no specific minimum capital beyond the company formation rules, but more advanced licenses (like banking, fintech, or DLT platform) have higher capital requirements.

SRO membership allows a wide range of services: buying, selling, and exchanging cryptocurrencies; providing fiat and crypto payments; wallet management and custody; brokerage and OTC trading; and supporting token offerings (ICOs/STOs) with correct structuring. It does not permit holding client funds for more than 60 days or taking public deposits without a higher license.

Swiss crypto businesses must follow strict AML rules. This includes conducting KYC for all clients, monitoring transactions, reporting suspicious activities, and maintaining robust internal policies. Staff must receive regular compliance training. Annual audits are standard, and all paperwork must be kept for 10 years.

Corporate tax rates depend on the canton but generally range from 12% to 18%. Most cryptocurrencies are taxed as assets. Financial statements are required for companies with revenue above CHF 500,000. Audits are mandatory for large companies or those above certain thresholds. Swiss residents pay taxes on worldwide income; non-residents pay only on Swiss-source income.

Switzerland is outside the EU and not subject to MiCA. However, Swiss crypto firms serving EU clients must comply with MiCA rules if they actively market in the EU. Only “reverse solicitation”—where the EU client approaches the Swiss provider—remains possible without full MiCA licensing. Otherwise, Swiss firms may need to obtain additional authorization to serve EU clients after December 2025.

The timeline for SRO approval is usually 1 to 4 months, depending on company structure and documentation. Company setup and bank account opening may add weeks. For more complex FINMA licenses, the process can take significantly longer. Most crypto startups can be operational within 4–5 months.

Yes, most SROs and authorities accept application documents and ongoing reports in English, as well as in official Swiss languages like German, French, or Italian. This flexibility extends to most communication and financial reporting.