Why Setup Business in Switzerland?
Switzerland is not only well known for its beautiful scenery and wintry Alps but also for their highly competitive and advantageous business environment for both local and foreign businesses alike. If you are thinking of expanding or setting up your business in the European Union, look no further than Switzerland. The country is highly regarded as a centre for international trade and finance which is supported by its business-friendly government. Read on to find out what are the benefits of setting up a business in Switzerland so that you won’t be losing out to your other competitors in the market.
Stable economic and financial environment
Switzerland’s currency, the Swiss Franc has a major part to play in the country’s developing economic system. Thanks to factors such as low inflation rates and low interest rates, those in the industry know Switzerland to be country that has a history of being strong and steady. Politic-wise, their government has always even very supportive of new businesses, making it an open and efficient location.
According to international research, their infrastructure remains one of the best in the world, only just coming in after Finland. Often held up as an example of a first-world country, the government is innovative and allocates a larger budget for research and development and technology to improve the quality of life in Switzerland.
Liberal tax system
In order to maintain their reputation as a global centre for international trade and finance, the Swiss tax system has enticed many major players in the industry to open their European offices in Switzerland. To attract more foreign investments into Switzerland, tax privileges have been introduced while the restrictions for investments going out of Switzerland are few and far between. Switzerland has also made a network of treaties in order to avoid the hassle of double taxation.
Effective capital market
Switzerland’s reputation for being an offshore financial centre precedes them, as they are ahead of other countries such as London, New York and Frankfurt. Possessing one of the world’s strongest and most reliable international banking system, Switzerland is one of the most convenient locations in central Europe for companies looking to make a move, especially after BREXIT.
Professional labour market
The high standard of living for Switzerland’s citizens means that the majority of Swiss people are highly educated. This means that when choosing to set up a business in Switzerland, you can be assured that there will be no shortage of capable candidates for your company. A company that has a productive and efficient team at its helm has a much higher chance at success.