The limited liability company [GMBH]
Similarly to the joint-stock company [AG], the Swiss limited liability company [GmbH] is a capital company having a legal personality. The company may be established even by one person, either legal or physical person. According to the Swiss legislature the subject may be represented exclusively by the person being a Swiss resident. This person may be a member of the board as well as its president.
The minimum initial capital in the amount of at least 20.000 CHF should be whole paid before the company is registered. There is no a foreseen limit of the initial capital for this type of company.
The company has three bodies: The Meeting of Shareholders, The Management and The Meeting of Auditors (facultative).
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.
For the limited liability company established in the territory of the Swiss Confederation a single-entry bookkeeping is applied. 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 time required to establish a joint-stock company [AG] is similar to the time of establishing a limited liability company. It is about 4 to 10 working days and comprises preparation of all necessary documents, making all required payments and appointing bodies of the company.