Switzerland
Your Gateway to Global Crypto Legitimacy
Switzerland’s reputation for rigorous financial standards makes it an attractive environment for responsible crypto businesses. Gain legitimacy with a Self-Regulatory Organizations (SRO) membership.
- Your External Compliance Team: We’ll handle the complexities of Swiss regulations and SRO requirements, crafting a robust application to maximise your approval chances.
- Strategic Guidance: We’ll help you choose the most suitable SRO and develop a tailored compliance plan for your crypto activities.
- Comprehensive Support: We offer a one-stop service for Swiss SRO membership, including legal consultation, document review, AML/KYC policy development, external audit arrangements, and more. We streamline the process to save you time and effort.
Ready to establish your Swiss crypto presence? Let’s partner up! Contact us today.
- Streamlined Compliance for Crypto Businesses: SRO membership offers a streamlined path to legitimacy for crypto businesses that don’t require a full FINMA licence. It demonstrates compliance with Swiss AML/KYC standards and enables various crypto-related activities like crypto-fiat exchange and issuance of payment tokens.
- Global Recognition: Gain global credibility, attract clients and investors with your commitment to Swiss AML/KYC standards.
- Stability & Trust: Benefit from Switzerland’s reputation for strong financial regulation and a stable economic environment.
- Valuable Asset: A Swiss SRO membership is a prestigious asset, enhancing your company’s value and open doors to new partnerships or funding.
The Swiss Financial Market Supervisory Authority (FINMA) authorises and supervises SROs. SROs are responsible for AML and CFT oversight of members.
- Company: Establish a Swiss company. AG (min share capital: 100,000 CHF) or GmbH (min share capital: 20,000 CHF) are common choices.
- Swiss Presence: Maintain a physical office address and staff your company with a local director and MLRO.
- Qualified Personnel: Ensure key personnel meet fit and proper standards, with experience in finance and compliance.
- Robust Plan: Submit AML/KYC policies and procedures aligned with Swiss regulations and SRO requirements.
Step 1: Evaluation
Estimated 1 - 2 weeks
We'll assess your business model, advise on SRO selection, and outline requirements, costs, and timelines.
Step 2: Company Formation
Estimated 1 week
We'll incorporate your Swiss company.
Step 3: Documentation & Preparation
Estimated 4 - 6 weeks
Meticulously prepare your application, including translations and supporting documents, ensuring they meet SRO standards.
Step 4: Local Presence
Estimated 4 weeks, can be done in parallel with Documentation Prep
We'll assist with recruiting Swiss-based staff (director and MLRO) and securing office space. We'll ensure your team and operations meet Swiss compliance expectations.
Step 5: Submission & Approval
Estimated 8 weeks
We'll submit your application, manage communication with your chosen SRO, and address any follow-ups.
Step 6: Post-Approval Support
ongoing
Audit and reporting? We've got you covered. We offer ongoing compliance support and assistance with maintaining your membership.
Step 7: Banking & Payments
estimated: 4 - 8 weeks
We understand the challenges of securing banking for crypto-related businesses. We'll guide you to crypto-friendly banks and EMIs, and help you set up the necessary infrastructure, including card issuing options.
- Costs: Expect SRO membership fees, company setup, legal support, and ongoing compliance costs. Contact us for a transparent breakdown.
- Timeline: Based on our experience, the process can take 3-4 months. We’ll aim for the fastest outcome, leveraging our expertise with SROs.
1. Why choose SRO membership instead of a Swiss FinTech or banking licence?
The choice between an SRO membership, a FinTech licence, or a full banking licence in Switzerland depends entirely on your specific business model and the financial services you intend to offer. Here's a breakdown of key factors to consider:
- Scope of Activities:
- SRO: Focuses primarily on AML and CFT compliance for financial intermediaries outside of the direct supervision of FINMA. If your primary activities revolve around crypto-asset exchange, brokerage, or custody services, an SRO membership may suffice.
- FinTech Licence: Offers a limited scope of banking activities, enabling innovative financial services within certain parameters. This can be suitable if your services fall within the defined range.
- Banking Licence: Allows the full range of traditional banking activities, including deposit-taking, lending, and investment services; necessary for businesses aiming to become a full-fledged bank.
- Regulatory Complexity:
- SRO: Generally considered the least complex and quickest route, with a primary focus on AML/CFT compliance.
- FinTech Licence: More stringent requirements than SRO membership, demanding greater focus on financial risk management alongside AML/CFT.
- Banking Licence: The most heavily regulated option with the most rigorous oversight by FINMA.
- Costs & Timelines:
- SRO: The most affordable and fastest option.
- FinTech Licence: Higher costs and longer application processes due to greater scrutiny.
- Banking Licence: Highest cost and the longest application timeline, often exceeding a year.
When you might choose SRO membership:
- Your business model focuses on core crypto-related financial activities without the need for the full range of banking services.
- You prioritise speed and a less complex regulatory process.
- You wish to minimise initial capital requirements and operational costs.
Important Note: Even under SRO membership, your business remains subject to high regulatory standards and ongoing AML/CFT supervision. We can help you choose the right licence type to ensure both compliance and meeting your business objectives.
2. Why do I need SRO membership in Switzerland?
If your crypto-related business activities fall under Swiss AML/CFT regulations but don't require a direct FINMA licence, SRO membership is mandatory to operate legally.
3. How do I choose the right SRO?
We'll analyse your business model, the specific services you offer, and your long-term growth plans to determine the SRO that best suits your needs.
4. What are the typical costs of SRO membership?
Expect SRO membership fees, potential legal and setup costs, and ongoing compliance expenses. Contact us for a clearer breakdown
5. Can I apply for SRO membership remotely?
While you'll need a Swiss company and some local presence, the application process itself can often be managed remotely. We'll handle the logistics.
6. Do I need a Swiss office?
Yes, your director and MLRO must be Swiss-based. We can help find suitable office space.
7. What qualifications do my team members need for SRO approval?
SROs emphasise financial and compliance experience. If your team needs strengthening, we can connect you with qualified professionals in Switzerland.
8. How long does the SRO membership process take?
Based on our experience, typically 3-4 months. We'll work efficiently, with a focus on your application quality. A well-prepared application and swift communication with the SRO can shorten this timeline.
9. Do I need to speak German, French, or Italian for the SRO application?
English is usually acceptable for official documents. We can provide translation services if needed.
10. I have a smaller crypto-related company. Is SRO membership realistic?
Absolutely! SROs cater to businesses of various sizes, and we excel at finding the right fit for smaller and growing crypto companies.
11. Can you help with banking relationships after I obtain SRO membership?
Yes! SRO membership can streamline this process, and we'll leverage our network to make introductions.
12. What are the ongoing compliance requirements for SRO members?
Expect regular AML reporting, external audits, and adherence to SRO standards. We offer ongoing compliance support to keep your business on track.
13. Does SRO membership help with expansion into other European markets?
While it doesn't grant direct access, Switzerland imposes no limitation to the locality of the customers you can serve, which is implied permission for a global reach. Also, an SRO membership demonstrates your commitment to compliance, which can be a valuable asset when navigating regulations in other European jurisdictions. We can help if you require a local licence when tapping into specific markets.
We can advise.
14. Can I outsource my AML/KYC compliance functions after becoming an SRO member?
Potentially, but your SRO will have specific rules on outsourcing. We'll clarify this based on your chosen SRO.
15. Why choose your company?
We have a proven track record and a client-focused, streamlined project management approach for licensing applications. We're experts in navigating global regulations, aiming to be your long-term expansion partner.
16. Can you help with the entire licence application process?
Absolutely! From company formation to application preparation, submission, and communication with the SRO, we'll guide you every step of the way.
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