Joint-stock company [AG]
The Swiss joint-stock company is a capital company having legal personality. It can be established by either one or more physical persons and legal persons.
The minimum initial capital of the joint-stock company [AG] is at least 100.000 CHF and its payment should be made in 20% before the company is established. Ultimately the initial capital should be increased to the amount of 50.000 CHF, and subsequently 100.000 CHF. There is no a foreseen limit of the initial capital for this type of company.
The company includes tree obligatory appointed bodies. The shareholders constitute the General Meeting of Shareholders. The Management handles all the matters of the company, control functions in turn are given to the Supervisors.
The General Meeting of Shareholders has the right to change the provisions of the charter, accept the financial report and share the profits. This body appoints members of the management and supervisors.
Current matters of the company are run by the management, which can appoint procurators to fulfil their functions. The member of the board does not have to be a shareholder of the company. In order to conduct its business activity in the territory of Switzerland it should be represented by a Swiss resident. This person may also be a member of the board.
The duties of supervisors include current control of the company’s operations in financial respect, including accepting plain and consolidated financial reports with reference to their compliance with the law and provisions of the company’s charter. The Supervisors also submit a report on their operations to the General Meeting of Shareholders.
Only these companies are obliged to maintain comprehensive bookkeeping which during two successive financial years meet simultaneously two of the below conditions:
- Their financial reports show the amount higher than 10 mln CHF,
- Their turnover exceeds the amount of 20 mln CHF,
- On average they employ annually more than 50 employees.
The name of the joint-stock company [AG] may be chosen freely. However, it cannot be misleading or bring bad associations. The name chosen cannot cause the conflict of interests neither can it be an existing already name.
The time required to establish a joint-stock company [AG] comprising the preparation of all necessary documents, making all required payments and appointing bodies of the company is about 4 to 10 working days.