(1) What is your Canton typically known industrywise? How did your area develop over the past 5-10 years? Can you give us some insights, some facts and figures?
The Canton Schwyz is known for its ideal location in the dynamic Zurich economic area, its wide range of highly qualified employees and one of the location with lowest corporate and personal tax rates in Switzerland. Global headquarters, finance companies including asset managers, private equity firms, hedge funds and family offices as well as companies from the life sciences industry are highly attracted by the outstanding business environment.
In the following please find some figures which highlight these facts:
– Very high growth rate of the number of companies in the canton: + 40 % (2009 – 2015)
– Only half of the unemployment rate of Switzerland: Canton Schwyz 1,6 %, Switzerland 3,2 % (August 2016)
– Permanent growth of population in the canton: + 5 % (2010 – 2015).
(2) How many startups are incorporated in your area? And are they important to you?
We do not separately record the number of start-up companies, but start-ups are important for the future development of an industry and region.
With TZS Start-ups the Technology Centre Schwyz (TCS) offers a programme specifically to support start-up companies. TCS brings prospective start-ups together with appropriate partners, companies and organisations, as needed in the individual case and according to the state of development of the start-up company.
(3) What are your goals in location development for the near future? What do you want to achieve for your area?
– Canton Schwyz remains an attractive residential and employment location.
– Canton Schwyz creates the ideal conditions for the continuing orderly growth of both population and economy.
– Canton Schwyz positions itself amongst the three cantons in Switzerland with the most favourable tax regimes
(4) What industries are you trying to establish in your area and why?
We focus on international headquarters, finance companies including asset managers, private equity firms, hedge funds and family offices as well as life sciences companies. The Canton Schwyz is able to offer them highly attractive business conditions and an appropriate environment.
(5) We are the representative of fintech startups, therefore it is very interesting for us to know if you consider fintech an important industry and if you are aiming at cultivating this industry in your area. If so, how are you planning to do so? If not, why not?
We consider fintech within the finance industry as a very important sector. At our yearly finance industry event Swiss Asset Management Day we highly focus on the fintech industry.
(6) What do you consider important for a healthy startup environment? What do you do to ensure such an environment?
It is crucial, that start-up companies gain a good reputation and become known for their services and products. We provide start-ups a platform at events and offer them consulting services free of charge or price-reduced.
(7) How would your Canton typically determine the value of shares in a startup for the purposes of the personal wealth tax (assuming the shareholder has tax residence in your Canton)?
The value of shares is generally determined according to the net asset value (Substanzwert).
(8) Does your Canton rely on valuations negotiated with investors in financing rounds when assessing the individual’s personal wealth tax (again assuming the shareholder has tax residence in your Canton)?
If yes, do you intend to change this or do you see signs (political or otherwise) that this will change in the short-term in your Canton?
We follow the rules of the circular letter (Kreisschreiben) no. 28 from the Swiss Conference of Tax (Schweizerische Steuerkonferenz). However, we keep observing the development in this matter and could imagine to implement a national solution.
In this context, we would like to point out, that the Canton Schwyz implements a very low capital tax for individuals.
(9) Why should a founder-to-be chose your Canton for incorporation?
Please refer to my comments above. The Canton Schwyz offers an attractive business environment, a very business friendly cantonal authority and a modern infrastructure.
(10) Can you give some starting up advice? Where should a founder-to-be turn to in your Canton? (Do you offer some kind of rule book to guide young entrepreneurs through the process of incorporation?)
Kindly have a look at gruenden.ch, which offers a wide range of information. Set-up your business plan, discuss your business plan with a person from a business promotion, do networking and start your company.