Why Switzerland for a Crypto Exchange License
FINMA’s clear regulatory framework
In 2018, the Swiss regulator FINMA officially recognized that cryptocurrency-related services fall under the Anti-Money Laundering Act (AMLA). And in 2019, this was enshrined in law.
Although FINMA does not use the term VASP. Сompanies that exchange or store crypto assets are legally considered financial intermediaries.
FINMA also divides digital assets into three types:
– payment tokens;
– utility;
– investment.
This distinction helps to structure products and understand which rules apply to them.
Crypto Valley ecosystem support
Crypto Valley is one of the main hubs of the crypto industry in Europe. At its center is the Swiss canton of Zug, where the blockchain business is really comfortable.
In Zug, crypto is not just allowed, it is supported at the cantonal level.
Favorable Swiss tax regime
Switzerland has an attractive tax regime, especially for financial and technology companies. Corporate tax at the federal level is 8.5%, and in some cantons it is even lower (less than 12%). Transactions with crypto assets that are not regular trade are not subject to VAT. Property is declared, but is taxed on preferential terms, depending on the canton.
FINMA Licensing Overview
VASP and Anti‑Money Laundering
Financial intermediaries that exchange, store, or manage cryptocurrency assets are subject to the Swiss Anti-Money Laundering Act (AMLA). Such providers have certain obligations similar to traditional financial institutions.
Financial intermediaries also must join a recognized self-regulatory organization (SRO), which performs primary supervision of compliance with the AMLA.
License categories under FINMA
There are three main types of crypto licenses in Switzerland:
Fintech license
A fintech license in Switzerland (Art. 1b of the Banking Act) allows companies to raise up to 100 million francs from customers, including in crypto. But these funds cannot be used for loans or interest payments. If such a company goes bankrupt, there is no guarantee of the safety of funds, like in a traditional bank (source).
Eligibility and Requirements
For a financial intermediary to obtain a Swiss crypto license, the company must meet both formal and operational requirements:
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Swiss company registration
The first mandatory step is to register a legal entity in Switzerland. An individual cannot obtain a crypto exchange license in Switzerland to operate with crypto assets. The most common forms are GmbH (limited liability company) or AG (joint-stock company).
Office, local director, and AMLO
The company is required to have a physical office in Switzerland and a local director residing with real management powers. For a DLT platform license, this must be the head office. Additionally, a financial monitoring officer (AMLO) is appointed, responsible for compliance with AML/KYC rules. This person must have the appropriate qualifications.
Minimum capital (from CHF 20 k)
To establish a GmbH, a capital of CHF20,000 is required; for an AG, CHF100,000, of which at least half must be paid up immediately. If the company applies for a banking license, the authorized capital must be fully paid up and be at least CHF10 million.
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Risk management & governance
You must have a risk management structure: a description of control procedures, responsibility for making key decisions, and an internal audit or compliance function. It is important to prove that the business is controlled not only on paper, but also in practice with real processes.
AML/KYC and cybersecurity compliance
Companies operating with virtual assets are required to comply with all requirements of AMLA. This includes:
full customer due diligence (KYC),
transaction monitoring,
retention of documents.
In addition, given the digital nature of the business, the requirements for information security and cybersecurity become critical.
Application Process & Timeline
Company setup & staffing (4 weeks)
First, you need to create a company, usually a GmbH or AG. Documents are prepared, everything is notarized, and the authorized capital is paid. The process is not complicated and takes up to a month.
Bank account opening (4–6 weeks)
After or in parallel, a bank account is opened. Banks check crypto companies more carefully: they look at the project, the owners, and where the money comes from. In Zug, it is easier — banks are already used to crypto business activity.
Preparation of documents for licensing (5 days)
For crypto license registration in Switzerland, before submitting the main application, a pre-application must be submitted with a brief description of the project.
Next, the main application is submitted, with separate attachments of AML/KYC documents, a description of the risk system, technical base, and confirmation of SRO membership. FINMA begins consideration only when everything is submitted in full.
License application (3–5 weeks)
You can apply for a crypto license in Switzerland through the online platform FINMA, independently or through a consultant. The speed depends on the quality of the documents and the complexity of the structure. Foreign owners may slow down the process a bit.
FINMA review and approval (2–3 months)
FINMA checks how the company operates, whether there is financial control and transparency. If everything is fine, they issue a license.
Then its data appears in the open register maintained by FINMA. This is the same Switzerland crypto license register, where you can easily check whether the company has a permit to operate.
State fee (~CHF 2 000)
For FINMA to consider your application, you must “buy a crypto license in Switzerland”, i.e., pay a state fee. This is a one-time fee, which amounts to around CHF 2,000, for checking the documents and the fact of considering your case. The amount is not fixed to the penny and may vary slightly, depending on what exactly you are submitting.
Annual supervision fee (~CHF 3 500)
Got a license? Then you pay every year for FINMA to supervise you. On average, it is about 3,500 francs per year, but if the legal entity is large or has a complex structure, it may be more.
Audit and ongoing operational costs
In addition to all Switzerland crypto license cost, you need to consider real operational costs. An annual audit is required, and it’s not cheap: around CHF40,000–50,000. Add to the cart the costs of services by lawyers, an accountant, cybersecurity compliance, IT, salaries, and the budget can easily grow.
Cost, Fees & Capital
Compliance Obligations
Reporting and audit requirements
A company with a license must report to FINMA. Once a year, they conduct an audit: they check whether everything is honest, how AML works, and where the money goes.
Asset segregation and custody
Crypto and client money are not yours. They must be separated from the company's resources. This is important: if the business goes bankrupt, client funds must be protected. If you mix them up, FINMA may recognize them as a deposit.
Annual financial statements
Every Switzerland crypto license service must prepare official financial statements every year: balance sheet, profit and loss account, and explanatory notes. FINMA checks whether it matches the plans. If something is seriously wrong, they will ask for an explanation.
Cooperation with FINMA
You need to keep in touch with the regulator. Be as open and transparent as possible. It is better to immediately notify about new services, changes in the team, or company structure.
Advantages of Swiss Crypto Licensing
Global credibility and trust
A Swiss license is a sign of reliability. FINMA is recognized worldwide, and this gives the company an advantage in the eyes of partners and clients.
Access to local banking services
Switzerland has banks that are used to the crypto business. With a license from FINMA, the chance of opening an account is much higher. This allows you to work normally: pay salaries, conduct transactions, and exchange assets.
Tax efficiency across cantons
Selling crypto (such as Bitcoin or Ether) without regular trading is not taxed. However, profits from mining, staking, or airdrops are already taxable income.
Corporate income tax depends on the canton: in Zug, about 11.85%, in Zurich, up to 19.61%, in Bern, up to 20%.
Integration into Crypto Valley
To integrate into the ecosystem, simply join the Crypto Valley Association or local business networks in the canton of Zug. This gives access to events, consultants, technical support, as well as banks and venture funds.
Ethereum Foundation, Cardano, Tezos — all these projects are already here. Local activity strengthens trust from FINMA and potential partners.
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