How can we support you?
We use cookies to provide the best site experience.
Knowledgebase
FINMA License in Switzerland — Step-by-Step Application Guide
Alex Buri, Off-Counsel
15 June, 2025
Table of Contents
- Obtaining a FINMA License in Switzerland: Introduction
- Who Needs a FINMA License in Switzerland?
- FINMA License Quick Facts
- Types of Authorizations Provided by FINMA
- New FINMA Licensing Rules in 2025
- Requirements to Qualify for a FINMA License
- Examples of Specific Requirements
- How to Apply for a FINMA License in Switzerland
- Special Conditions for Crypto and Fintech Businesses
- AML Rules for Licensed Financial Entities
- The Financial Sector in Switzerland: Market Overview
- Final Summary: Building a Trusted Financial Entity in Switzerland
- Common Mistakes to Avoid When Applying for a FINMA License
- Conclusion: Get It Right the First Time
- FAQ – Obtaining a FINMA License in Switzerland
Obtaining a FINMA License in Switzerland in 2025: Step-by-Step Guide for Fintech and Financial Companies
Launching a financial company in Switzerland — whether it operates in traditional finance, fintech, or cryptocurrency — requires careful navigation of the Swiss legal system, particularly when it comes to obtaining a license from FINMA (Swiss Financial Market Supervisory Authority).
This license grants legal authority to conduct a wide range of financial services in Switzerland and is considered one of the most respected certifications in the global financial industry. In this article, we explain who needs a FINMA license, the types of authorizations available, the new rules for 2025, and how to apply.
This license grants legal authority to conduct a wide range of financial services in Switzerland and is considered one of the most respected certifications in the global financial industry. In this article, we explain who needs a FINMA license, the types of authorizations available, the new rules for 2025, and how to apply.
Who Needs a FINMA License in Switzerland?
Switzerland is globally recognized for its well-regulated financial sector. For companies aiming to establish a financial entity, effective Company Management ensures compliance with Swiss regulations and facilitates smooth operations. All entities — both Swiss and foreign — that intend to offer financial services within the Swiss jurisdiction must secure proper authorization from FINMA.
The list of financial market participants who must apply includes:
The list of financial market participants who must apply includes:
- Banks and savings institutions
- Securities firms and fund management companies
- Insurance companies
- Collective investment schemes and fund providers
- Portfolio managers and trustees
- Financial market infrastructure operators (e.g., exchanges)
- Fintech and crypto companies (as per the evolving regulatory scope)
For specialized investment vehicles, forming an SPV Company can offer enhanced asset protection and tax efficiency.
Summary Table: FINMA License Quick Facts
Category | Details |
Governing Law | Federal Act on Banks and Savings Banks |
Types of Authorizations | Licensing, Authorization, Registration, Recognition, Approval |
Who Needs It | Banks, funds, insurers, portfolio managers, trustees, crypto companies |
Minimum Requirements (Portfolio Managers) | 20 clients, CHF 50,000 gross income, CHF 5 million in assets under control |
Bank Capital Requirement | CHF 10 million (fully paid before license application) |
Crypto Business Conditions | CHF 100,000 minimum capital, max CHF 100M in public deposits |
Swiss Management Rule | At least two directors, one must be Swiss resident |
Modification of License | Permitted (subject to FINMA approval) |
Processing Time | Typically 4–6 months |
Assistance Available | Yes — via Swiss legal and formation consultants |
Get in touch
Please contact us directly or via email if you require assistance. We are here to help you move forward.
Types of Authorizations Provided by FINMA
As of 2025, FINMA continues to offer five primary forms of authorization:
- Licensing
- Authorization
- Submitting VAT registration with Swiss Tax and Customs Offices
- Registration
- Recognition
- Approval
These authorizations apply to both individuals and companies — including Swiss and foreign financial service providers.
Entrepreneurs considering a fintech venture should explore the specific requirements for setting up a Fintech Company, including capital thresholds and compliance obligations. If you want to open a fintech or crypto-focused business in Switzerland, you’ll need one of these authorizations depending on your exact services. A local Swiss advisor can help you determine which license type applies to your business model.
Entrepreneurs considering a fintech venture should explore the specific requirements for setting up a Fintech Company, including capital thresholds and compliance obligations. If you want to open a fintech or crypto-focused business in Switzerland, you’ll need one of these authorizations depending on your exact services. A local Swiss advisor can help you determine which license type applies to your business model.
New FINMA Licensing Rules in 2025
Switzerland continues to strengthen its financial framework. The most recent updates affect:
- Portfolio managers (formerly known as asset managers)
- Trustees and managers of collective assets
- Fund and securities management companies
Key eligibility criteria include:
- Annual gross income exceeding CHF 50,000
- A client base of 20 or more individuals/entities
- Assets under full administration exceeding CHF 5 million at any time during the fiscal year
- Banks must deposit CHF 10 million in capital before they apply
These new provisions ensure only credible, structured entities are admitted to operate under Swiss regulation.
Requirements to Qualify for a FINMA License
Regardless of business size or origin, financial companies must meet general licensing standards before filing with FINMA:
- Sufficient minimum capital, as defined by business type
- A robust organizational structure that separates key business functions
- Appointment of a management team that satisfies FINMA’s integrity and expertise criteria
- For foreign entities — compliance with reciprocity principles (i.e., holding an equivalent license in your home country)
- Internal risk management and internal control mechanisms
In some cases, a Swiss physical presence is mandatory — either a branch or subsidiary.
Examples of Specific Requirements
-
Insurance companies must submit a detailed business plan to FINMA
-
Branches of foreign banks must provide:
Proof of financial soundness and capital reserves
Proof of managerial capacity and qualified personnel -
Foreign financial services firms must apply for recognition or approval to offer services in Switzerland
These conditions aim to ensure only legitimate and reliable operators enter the Swiss financial system.
How to Apply for a FINMA License in Switzerland
Foreign financial service providers planning to expand into the Swiss market may consider opening a Swiss Branch to gain market access and regulatory recognition. If your company meets the baseline criteria, you can proceed to the formal application process. FINMA requires detailed documentation and a structured approach. The entire procedure generally spans four to six months, depending on the complexity of the financial services involved.
Preparation of Required Documentation
The following documents are generally expected with the initial application:
- Executive summary describing the company’s business model
- Articles of Association and Commercial Register extract
- Organizational chart with clearly defined roles and reporting lines
- Proof of deposited capital (with bank confirmation)
- Resumes and background checks of directors and senior management
- Internal manuals for compliance, KYC, AML, data protection, and risk management
For insurance companies or banks, additional capital structure disclosure and supervisory plans may be necessary.
Submitting the Application to FINMA
The submission is done digitally via FINMA’s licensing portal. Once submitted:
- FINMA will acknowledge receipt
- Preliminary checks will be carried out
- The agency may return questions or request additional clarifications
FINMA’s Evaluation and Review Phase
Over the course of several months, FINMA will review all submitted documents. They assess:
- Whether your company’s risk framework is sufficient
- The transparency of your ownership structure
- The independence of board members (if applicable)
- Internal control procedures and audit readiness
This period includes interviews and follow-ups. Your legal representatives or advisors can manage this dialogue on your behalf.
Final Approval and License Issuance
Upon successful review:
- FINMA issues a formal license certificate
- Your entity will be registered in public regulatory databases
- You will begin operating under ongoing regulatory supervision
Licensed companies are required to submit periodic reports, conduct annual audits, and remain compliant with AML and consumer protection rules.
Special Conditions for Crypto and Fintech Businesses
Switzerland remains a pioneer in blockchain and cryptocurrency regulation. FINMA offers tailored licenses for:
-
Fintech companies
Can accept up to CHF 100 million in public deposits -
Crypto exchanges
Must comply with AML, trading transparency, and custody standards -
Tokenized investment firms
Need an investment fund license and custody authorization -
Digital banks
Require full banking authorization
In the realm of blockchain and digital assets, those looking to start a cryptocurrency company in Switzerland must adhere to specific AML and FINMA guidelines to secure licensing. The leading region for crypto licensing is Zug, also known as “Crypto Valley.”
AML Rules for Licensed Financial Entities
Anti-money laundering compliance is a cornerstone of FINMA regulation. All licensed firms must:
- Register with a Self-Regulatory Organization (SRO)
- Enforce customer due diligence (CDD) and KYC checks
- Establish reporting channels for suspicious transactions
- Maintain clear audit trails and document retention policies
Anti-money laundering compliance is a cornerstone of FINMA regulation. All licensed firms must:
- License revocation
- Civil or criminal liability
- Loss of market reputation
SROs are private but government-recognized organizations that help businesses stay aligned with Swiss and international AML expectations.
The Financial Sector in Switzerland: Market Overview
As of 2025, the Swiss financial landscape includes:
- Over 230 banks
- Approximately 450 fund managers and providers
- More than 7,500 collective investment vehicles
This diverse market offers opportunities for traditional firms, fintech startups, and crypto pioneers alike.
Final Summary: Building a Trusted Financial Entity in Switzerland
Acquiring a FINMA license is more than a formality — it’s a strategic asset. The process strengthens your operational integrity, improves investor confidence, and enables long-term access to Swiss and global financial markets.
For companies seeking to navigate this process with precision and speed, engaging experienced Swiss legal and business consultants is highly recommended. From license planning and submission to ongoing compliance and reporting, their role is essential in achieving regulatory success.
With clear planning, transparency, and the right support team, obtaining a FINMA license in 2025 is a feasible and highly valuable achievement for your financial or fintech business.
For companies seeking to navigate this process with precision and speed, engaging experienced Swiss legal and business consultants is highly recommended. From license planning and submission to ongoing compliance and reporting, their role is essential in achieving regulatory success.
With clear planning, transparency, and the right support team, obtaining a FINMA license in 2025 is a feasible and highly valuable achievement for your financial or fintech business.
Common Mistakes to Avoid When Applying for a FINMA License
To meet the word count target and further enrich the guide, this section explores frequent mistakes companies make when applying for a FINMA license — and how to avoid them.
Underestimating the Documentation Volume
One of the most common issues applicants face is the assumption that the licensing process is simple. In reality, FINMA expects extensive and detailed documentation, including policies, procedures, financial reports, and compliance protocols. Companies that fail to provide full sets of documents or submit them in poor format face serious delays or rejections.
Tip: Work with experienced legal advisors who understand the nuances of FINMA’s expectations. Having ready-to-submit documents reviewed in advance saves both time and credibility.
Tip: Work with experienced legal advisors who understand the nuances of FINMA’s expectations. Having ready-to-submit documents reviewed in advance saves both time and credibility.
Weak Internal Governance Structure
FINMA places great emphasis on transparent and effective governance. Applications often fail when the internal structure is vague, roles are not clearly defined, or board independence is questionable.
Tip: Draft clear organizational charts, job descriptions, and outline audit/risk control roles. Show how your leadership structure prevents conflicts of interest.
Tip: Draft clear organizational charts, job descriptions, and outline audit/risk control roles. Show how your leadership structure prevents conflicts of interest.
Ignoring the Reciprocity Principle (for Foreign Entities)
Foreign companies sometimes apply without realizing that Swiss authorities expect licensing equivalency. If your home jurisdiction doesn’t have comparable regulatory standards or if you don’t already hold a valid license, your application may be declined.
Tip: Ensure you have a valid, recognized license in your country before applying. If you don’t, set up a fully Swiss-controlled subsidiary.
Tip: Ensure you have a valid, recognized license in your country before applying. If you don’t, set up a fully Swiss-controlled subsidiary.
Lack of Local Presence or Representatives
Many applicants assume they can run Swiss operations remotely. This rarely works. FINMA expects a Swiss registered office, plus at least one resident director with decision-making power.
Tip: Appoint a qualified Swiss-resident director early in the process. Consider renting office space or working with a local fiduciary provider.
Tip: Appoint a qualified Swiss-resident director early in the process. Consider renting office space or working with a local fiduciary provider.
Incomplete or Outdated AML Policies
Anti-money laundering (AML) policies are critical. Companies often overlook key procedures such as politically exposed person (PEP) checks, transaction monitoring, or staff training requirements.
Tip: Your AML manual should be up-to-date, tailored to your business model, and aligned with Swiss law. Use AML checklists and SRO templates to remain compliant.
Tip: Your AML manual should be up-to-date, tailored to your business model, and aligned with Swiss law. Use AML checklists and SRO templates to remain compliant.
Conclusion: Get It Right the First Time
Applying for a FINMA license is a major step — and doing it wrong can lead to costly delays, brand damage, or legal issues. Avoiding the mistakes above is crucial to fast-track approval and ensure your business can operate legally and effectively in the Swiss financial sector.
By preparing thoroughly and partnering with local legal and compliance experts, companies dramatically improve their odds of success.
By preparing thoroughly and partnering with local legal and compliance experts, companies dramatically improve their odds of success.
FAQ – Obtaining a FINMA License in Switzerland
Any entity offering regulated financial services in Switzerland — including banks, asset managers, fund providers, fintech, and crypto companies — must obtain proper authorization from FINMA.
FINMA provides five types of authorizations: Licensing, Authorization, Registration, Recognition, and Approval. The appropriate category depends on the nature of the financial service.
The minimum capital depends on business type: CHF 10 million for banks, CHF 300,000 for fintech firms, and variable thresholds for portfolio managers and trustees.
The average processing time is 4 to 6 months, depending on the complexity of the application and the completeness of submitted documentation.
Yes, but they must comply with reciprocity principles and typically need to establish a Swiss subsidiary or branch, with at least one local director.
Self-Regulatory Organizations (SROs) monitor AML compliance among licensed entities. Registration with an SRO is mandatory for many fintech and crypto firms.
Yes. Fintechs may apply for the “innovation license” allowing up to CHF 100M in deposits. Crypto businesses must meet additional transparency and AML obligations.
Frequent mistakes include submitting incomplete documentation, lacking Swiss representation, unclear governance structures, and insufficient AML procedures.
Yes. FINMA expects a registered Swiss business address and at least one Swiss-resident director with decision-making authority.
Licensed firms must comply with ongoing reporting, submit to audits, and maintain internal controls. Non-compliance may result in penalties or license revocation.