Fintech License – Switzerland

Europe
General

Overview
Switzerland’s regulatory framework for payment services is robust, designed to ensure market integrity, consumer protection, and financial stability. The framework is administered by the Swiss Financial Market Supervisory Authority (FINMA), known globally for its strict but transparent regulatory practices.

Licenses Available

Fintech License: Introduced in 2019, this license is aimed at reducing barriers for innovative financial technologies, including payment service providers. It allows firms to accept public deposits up to CHF 100 million without being classified as a bank, provided they do not engage in lending activities.
Payment Service Providers (PSPs): PSPs must obtain a license from FINMA to operate in Switzerland, ensuring compliance with the Financial Market Infrastructure Act (FMIA) and the Anti-Money Laundering Act (AMLA).
Banking License: Companies engaging in wider financial activities or holding public deposits exceeding CHF 100 million are required to apply for a banking license.

Regulator: FINMA
FINMA is a globally respected regulator with a reputation for fostering a stable and secure financial environment. Its rigorous oversight contributes to Switzerland’s status as a global financial hub, particularly in the payments and fintech industries.

Jurisdiction: Switzerland
Regulator: Swiss Financial Market Supervisory Authority (FINMA)
License Name: Fintech License
Activities Allowed (Platform/games): "»Offering Accounts for retail and corporate clients » Accepting deposits from the public (with limitations); » Visa & Mastercard Principal membership »Card Issuance and Acquiring; » Accepting Crypto Assets; »Direct Access to Payment Schemes; »Swift Membership; »Providing Payment Services in Fiat and Crypto;"
Structure requirements (#shareholders/director/officers,MLRO): Minimum 3 Board Members (1 must be in Switzerland); 2 Executive directors, both must be based in Switzerland; Finance, IT, HR & Accounting may be outsourced even outside of Switzerland; External Audit Body (must be approved by FINMA)
Basic requirements (business plan, website. demands from UBO, professional background: Detailed business plan incl. 3 years financial forecast. UBO to have at least 1-2 years of relevant industry experience; Executive Directors to have at least 2-3 years of industry experience
Local Physical Presence (Local Office and Local Staff): Required
Tax Rate: 11.9-21% (depending on the company's location of corporate residence)
Minimum Capital Requirement: "Minimum Capital 3% of the deposits held but at least CHF 300K fully paid in (+ operational costs for 12 months)"
Time Frame for License Issuance (as of submission): 9-12 months
Regulatory leniency level (basic, intermediate, complex): Complex
License Validity: Indefinite
Reporting Frequency (Monthly/Quarterly/Annualy): Annual Audited Financial Statements; Other periodic reports as may be requested by the regulator
Advantages (Other territories recognition): World's 20th largest economy (by GDP); Leading banking, financial services and Fintech centre in the world; Top tier work force and services providers;

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