Switzerland Visa Options for Setting up a Swiss company as a Citizen of the Third State

Europe has a number of strong economies, making it a destination for entrepreneurs. Switzerland can appear as an attractive option but entrepreneurs who are not from the EU may find it difficult to get the right work or residence permit to build a business in Switzerland. If you are considering starting a company in Switzerland, read on to learn about visa options.

Table of contents
What is the Switzerland Startup Visa? Benefits of the Switzerland Startup Visa for Entrepreneurs Requirements for Switzerland Startup Visa Application process for Switzerland Startup Visa Moving to Switzerland from abroad Banking in Switzerland Meet Wise: International Account for Global Entrepreneurs Wise Account for Swiss Residents Wise Business Account for Swiss Startups

What is the Switzerland Startup Visa?

European nations like Denmark, Estonia, Finland, France, Lithuania, The Netherlands, Spain, Portugal, Ireland, and Germany offer startup visas to non-European Union nationals. Unfortunately, Switzerland doesn’t offer a similar startup visa. Switzerland does offer a National D visa and a residence permit, allowing you to stay and work if you have an employer for more than 120 days.¹

Generally, non-EU or European Free Trade Association (EFTA) nationals can enter Switzerland to work only if they are highly qualified. It includes executives, specialists, and university graduates with professional experience. EU nationals do not require a visa to establish businesses in Switzerland.

In addition to the visa, Switzerland offers the following residence permits to non-EU/EFTA nationals:

• Permit B/Ci - Residence permit with gainful employment
• Permit F - Provisionally admitted foreigners
• Permit G - Cross-border commuter permit
• Permit N - Permit for asylum-seekers
• Permit S - People in need of protection

EU/EFTA nationals can apply for the following residence permits in Switzerland:²

• Permit B - Residence permit for foreign nationals staying in Switzerland permanently with or without gainful employment.
• Permit C - Settlement permit for foreign nationals after five or ten years of residency in Switzerland.

Highly qualified non-EU/EFTA nations can apply for Permit B, but the permit is valid for one year and can be renewed. However, the Permit B for EU nationals is for five years.

Existing long-term Swiss residents with a valid C permit can establish a business in the country.

In addition, Switzerland may offer a Golden Visa for eligible investors, allowing non-EU/EFTA nationals to reside in Switzerland and establish a business. This may require showing evidence of a significant monetary investment.

Benefits of the Switzerland Startup Visa for Entrepreneurs

While Switzerland does not offer a startup visa, it offers opportunities for a work visa and residence permit. Here are a few of the benefits of getting the right visa to Switzerland:

• Right to live and work in Switzerland - You can live and work in the country. You can use a visa to enter Switzerland, and the residence permit is issued once you are in the country.
• Access to the lucrative European market - Switzerland has a robust economy and financial and banking market. Residents of Switzerland can get easier access to the European market.
• Advanced standard of living - Switzerland consistently offers high global living standards, with top-class healthcare facilities and advanced education systems. In addition, Switzerland offers beautiful landscapes and state-of-the-art public infrastructure.
• Tax advantages - Switzerland’s tax system favours businesses and individuals, especially for countries having a double-taxation agreement.
• Becoming a resident entrepreneur - Once you are a resident of Switzerland, you can explore starting a business in the country. The process is easiest for a citizen, but residents on a long-term visa can explore options.

Requirements for Switzerland Startup Visa

The requirements for a Swiss work visa depend on your nationality. The Swiss government website has a handy online tool to determine how you can apply and what documents you may need.

In all cases, you will need to provide identification, evidence of employment and financial support for your stay in Switzerland.

Application process for Switzerland Startup Visa

Here are the steps required to obtain a residence permit in Switzerland.³

• Qualify for an applicable visa- Explore the Swiss State Secretariat for Migration to understand if you are eligible.
• Apply for a long-stay visa - You will need a long-term National D visa to reside in Switzerland. Apply for the D-visa by submitting your application form, bank statements and a health insurance policy.
• Get approval - If you are migrating on an employment visa, ensure you have the applicable employment contracts and agreements from your employer in Switzerland.
• Obtain the Swiss Residence Permit - You can enter Switzerland using the D-visa. Prepare the paperwork for the Swiss Canton authorities and register with the local regulatory bodies for your permit.
• Apply for citizenship - Renew your Swiss residence permit until you complete ten years of stay in Switzerland, at which point you can typically apply for Swiss citizenship.

Moving to Switzerland from abroad

Once you have a visa, there are many other things to have set up before and after moving. Here are factors to consider when shifting to Switzerland:

• Update your bank and credit card accounts: Your resident status in your home country may change if you are relocating to Switzerland. Let your bank and credit card companies know of your new residence and make any account changes if necessary. Also ensure that your bank or credit cards can be used abroad, in case you use them. Also, set up a way to pay any recurring bills when you are abroad.
• Staying connected to family and friends: Reduce homesickness by staying in touch with family and friends. Apps like WhatsApp make messages, and voice or video calls easier, while social media platforms like Instagram or Facebook can help you share your journey back home.
• Cultural changes: Switzerland has its own unique culture which can be different from yours back home. Be open to learning about Swiss heritage and participating in cultural traditions, while holding on to your own in meaningful ways.
• Accommodation and logistics: The cost of accommodation can vary in Switzerland depending on where you decide to live. The major city centres will be more expensive than the suburbs or rural areas. You can find a place to stay beforehand online or look for one in person when you arrive.
• Healthcare: Health insurance is compulsory when applying for a Swiss visa. You must renew the health insurance and keep it valid during your time there. Knowing your healthcare options in Switzerland can help you prepare for any medical emergencies.

Banking in Switzerland

Switzerland is home to several banks for both business and personal. If you plan to be in the country for the long term, consider opening a personal bank account. It can help with receiving paychecks locally, purchases and payments like rent or groceries. Learn more in our full guide on opening a bank account in Switzerland.

For resident entrepreneurs, opening a business bank account is a good idea. It can help you track your expenses for the business and develop a relationship with the bank.

If international transfers are part of your business or if you want to send money home to family, keep an eye on bank fees that can eat into your money. Want a quick and low-cost way to send money abroad? Check out Wise.

Meet Wise: International Account for Global Entrepreneurs

Wise is the fast, easy and simple way to send money overseas. You can send money to local bank accounts around the world through Wise or its award-winning app. Using smart tech, you can send international transfers with just one low fee and the real mid-market exchange rate.

And if you need multiple currencies, Wise has you covered with the multi currency account. Modern businesses can use the Wise Business account to receive overseas transfers, pay staff and streamline international transactions at a low cost.

Wise Personal

When you need to send money back home, make a holiday reservation or pay in local currency, use Wise. With a free account, you can send money directly to local bank accounts abroad in just a few seconds on popular transfer routes. Wise has just one upfront transaction fee, and you always get the mid-market rate on currency exchange. That means no extra or hidden fees.

Frequent travellers will love the Wise multi-currency account. It's one account where you can hold, send and spend in different currencies. Send transfers home, have the right currency when you are abroad or easily convert currencies at the mid-market exchange rate. You can also opt for a linked debit card to swipe or tap like a local wherever you are in the world.

Join Wise today and see how much easier it is to send, receive and spend worldwide.

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Wise Business Account

Businesses looking to go global can look to the Wise Business account. If you have a team, suppliers, or vendors around the world, Wise can make payments simple and easy. The Wise business account can make transfers directly to local bank accounts abroad.

You also get local bank details in foreign currencies, so clients can pay you in the currency that is easiest for them. The Wise Business Account also integrates seamlessly with accounting software like QuickBooks, making it simple to track transactions. And with a clear upfront fee, you won’t have to worry about monthly subscriptions or hidden charges.

Over 300,000 businesses use Wise Business every quarter, so join today and see how simple international transactions can be.

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This article is not intended to provide financial, legal, immigration or business advice. It's a good idea to reach out to professionals like a lawyer, accountant, tax lawyer or business advisor for advice for your particular business and immigration needs.

Sources used for this article:

1. Switzerland Residence Permit - An Overview
2. B EU/EFTA permit (Resident foreign nationals)
3. Working in Switzerland as a foreign national

Sources verified on 22 January 2024.

Cover photo by cottonbro studio.