Europe · CH
Switzerland
FINMA supervises banks, securities firms and fintech businesses under Swiss law; online casino games may only be offered by licensed Swiss casinos.
At a glance
- Status
- Non-EU state, outside the EEA
- Region
- Europe
- Regulated sectors
- PaymentsCryptoInvestment
- Authorities
- FINMA · ESBK · Gespa · MROS
- Licensing routes
- 4
Overview
The framework
Switzerland is outside the EU and the EEA, so Swiss licences carry no EU passporting rights. Its financial regulation is nonetheless highly developed: FINMA supervises banks, securities firms and fund managers, and Swiss law provides a fintech licence and a framework for distributed ledger technology.
Financial intermediaries that are not prudentially supervised, including many crypto businesses, must be affiliated with a self-regulatory organisation recognised by FINMA for AML purposes. Online casino games may only be offered by Swiss casinos holding an extended concession, and lotteries and sports betting are reserved to intercantonal operators.
Authorities
Who regulates what
- Swiss Financial Market Supervisory Authority (FINMA)
- Banks, securities firms, fund managers, fintech and DLT licences.
- Federal Gaming Board (ESBK)
- Casinos, including online casino games under extended concessions.
- Intercantonal Gambling Supervisory Authority (Gespa)
- Lotteries, sports betting and skill games.
- Money Laundering Reporting Office Switzerland (MROS)
- Suspicious activity reporting.
Regimes
Licensing routes
Fintech licence
FINMA licence to accept public deposits up to a statutory threshold without investing them or paying interest.
Sectors: Payments
Securities firm licence
FINMA licence for professional dealing in securities.
Sectors: Investment
DLT trading facility licence
FINMA licence for trading facilities for DLT securities.
Sectors: Crypto · Investment
SRO affiliation
AML supervision of financial intermediaries through a FINMA-recognised self-regulatory organisation.
Sectors: Crypto · Payments
Applications and regulator engagement for these routes are handled by our Regulatory & Licensing practice.
Considerations
What to weigh up
- No EU passporting: serving EU clients requires separate analysis.
- FINMA's token classification guidance is the starting point for crypto-asset projects.
- Online gaming is restricted to Swiss casinos with extended concessions, and unlicensed offers are blocked.
This overview is general information, summarised at a high level. Requirements change and depend on the specific activity; seek advice on your circumstances before acting.
Industries
Relevant industries
- Fintech & PaymentsPayment and e-money institutions, PSPs and acquirers, payment facilitators and embedded finance.
- Crypto & Digital AssetsCASPs and VASPs, exchanges, custodians, wallets, token projects and crypto payments.
- Forex & InvestmentsForex and CFD brokers, investment firms, trading and investment platforms.
Across jurisdictions
Cross-jurisdiction capabilities
Services we support across the jurisdictions in our directory, described once on their own pages. How each is delivered depends on the local requirements that apply; where local qualification is required, we coordinate locally qualified counsel.
- Privacy & Data ProtectionPrivacy compliance and GDPR programmes, notices and DPAs, DPIAs, data mapping and ROPA, transfers, audits and breach response.
- AML & Financial Crime ComplianceAML/CFT programmes, MLRO-as-a-Service, independent AML/CFT audits, risk assessments, monitoring, sanctions and inspection support.
- IP Registration & ProtectionTrademark and patent registration and protection, copyright protection, domain name disputes, portfolio support and IP agreements.
- Legal OpinionsRegulatory, business model, perimeter, payment, gaming, crypto-asset and cross-border opinions for banks, partners and investors.
- Bank Account OpeningSupport with corporate and operational accounts at banks and EMIs, prepared for how their compliance teams assess high-risk businesses.
- Merchant Account / Acquiring SetupSupport with merchant account applications and acquiring setup at acquirers and PSPs, including for high-risk merchant categories.
Support
How we support businesses in Switzerland
- Regulatory & Licensing01Strategy, applications and regulator engagement for the payments, crypto and investment routes listed above.
- Corporate Structuring02Group architecture, incorporation, substance and governance built around your licences, banking and investors.
- Market Entry & Regulatory Strategy10Market prioritisation, regulatory roadmaps and launch readiness for businesses expanding into new jurisdictions.
Discuss your matter with a senior advisor.
Share a few details about your business and plans. We will come back to arrange a confidential initial conversation.