Europe · GmbH
Open a business bank account in Switzerland
Banking is the choke point of a Swiss formation, and it bites twice. First, you need a Swiss capital-payment (blocked) account to deposit the CHF 20,000 BEFORE the company even exists — without it the notary cannot complete the deed. Second, you then need a working business account afterwards. Swiss banks apply famously rigorous FINMA-mandated KYC and source-of-funds scrutiny, and a foreign-controlled start-up with no local substance is exactly the profile they are slowest to onboard. Your Switzerland-resident managing officer is often the practical key: a bank is far more comfortable when a real, locally reachable representative is on the account.
- Country
- Switzerland
- Topic
- Open a bank account
- Reviewed
- June 2026
By the Lanzamo Editorial Team · Reviewed June 2026 · How we research
Traditional banks
UBS
The largest Swiss bank; offers capital-deposit accounts for company formation and full business banking, but onboarding a foreign-controlled start-up is selective, document-heavy and not fast — strong source-of-funds evidence and a local representative help materially.
PostFinance
Broadly accessible Swiss provider used for many GmbH capital-deposit and business accounts; comparatively pragmatic for domestic SMEs, though non-resident control still triggers extensive KYC.
Cantonal banks (e.g. ZKB, BCV, BCGE)
Each canton has its own bank, often willing to support companies seated and operating in that canton; a genuine local nexus (office, resident officer, real activity) improves your odds considerably.
Credit-union / regional banks (Raiffeisen, Migros Bank)
Serve domestic SMEs and can open business accounts, but tend to expect a clear local footprint and are cautious with purely foreign-owned, foreign-directed structures.
Fintech & EMI options (built for remote)
Relio
Zurich-based, FINMA fintech-licensed digital business account aimed at SMEs and founders; multi-currency, no formal minimum deposit (AML checks apply to incoming funds) — one of the more realistic remote-leaning options for a Swiss company.
Yapeal
Swiss FINMA-licensed neobank now focused on B2B/business accounts; a Swiss-domiciled digital alternative to a high-street bank for an operating account once the company exists.
Wise Business
Not a Swiss bank, but widely used by Swiss companies as a multi-currency rail with Swiss (and global) account details for cross-border invoicing — useful alongside a Swiss account, but it cannot serve as the blocked capital-deposit account for incorporation.
Revolut Business
Multi-currency business accounts available to companies registered in many countries including Switzerland; convenient for operating cash flow, but, like Wise, it does not replace the Swiss capital-payment account required to incorporate.
What you'll usually need
- Commercial-register extract (or, for the blocked account, the company-in-formation details) and the future UID
- Notarized articles of association and the deed of incorporation
- Certified passport/ID for all owners, managing officers and beneficial owners
- Proof of residential address for owners and officers (recent utility bill or bank statement)
- Detailed source-of-funds and source-of-wealth evidence for the CHF 20,000 and beyond
- Business plan / description of activity, expected turnover and counterparties
- Confirmation of the Switzerland-resident managing officer (Art. 814(3) CO compliance)
Tips to get approved
- Open the capital-deposit account FIRST and treat it as the critical path — the notary cannot proceed until the CHF 20,000 is confirmed on deposit.
- Use your Switzerland-resident representative as the relationship anchor; banks are far more comfortable when a locally reachable officer is on the account.
- Prepare an airtight, documented source-of-funds story — vague or inconsistent answers are the top reason Swiss KYC stalls or rejects a foreign-controlled company.
- Approach a cantonal bank in the canton where you are actually seated; a real local nexus beats applying cold to a national bank.
- Line up a fintech operating account (Relio, Yapeal) or a Wise/Revolut rail in parallel so you are not stranded if the high-street relationship is slow.
- Keep the Zefix record, articles and beneficial-ownership information perfectly consistent across every document — mismatches trigger immediate compliance queries.
Frequently asked questions
Why is the bank account needed before the company exists?
Because Swiss law requires the CHF 20,000 capital to be fully paid in and verified before the commercial register will enter the GmbH. You open a capital-payment (blocked) account in the name of the company-in-formation, deposit the CHF 20,000, and the bank confirms it to the notary. The funds stay frozen until the register entry is published, then unblock into a normal business account.
Can I open the Swiss accounts without travelling to Switzerland?
Sometimes for the capital-deposit account, often not easily for full business banking. Some banks and FINMA-licensed fintechs offer remote onboarding, but a foreign-controlled start-up faces heavy KYC, and many banks still prefer a meeting or a strong local sponsor. The Switzerland-resident managing officer you must appoint anyway is frequently the person who makes the relationship work.
Are the Swiss fintechs (Relio, Yapeal) real bank accounts?
They are FINMA fintech-licensed providers, not full banks, so the legal protection differs from a banking-licence deposit. Functionally they give a Swiss IBAN, payments and multi-currency features and are a realistic operating account for an SME. They cannot, however, serve as the blocked capital-payment account used to incorporate — that must be at an institution offering the capital-deposit service.
What makes Swiss bank onboarding so hard for foreign founders?
Switzerland's FINMA-driven anti-money-laundering regime pushes banks to fully understand the people and money behind any company. A fully foreign-owned, foreign-directed GmbH with no local substance reads as higher risk, so banks demand thorough source-of-funds proof and often a local anchor. Having a Switzerland-resident officer, a clean documented funding story and a genuine cantonal nexus is what turns a likely 'no' into a 'yes'.
Sources
- Zefix — Federal Central Business Names Index / commercial register (official)
- ESTV / FTA — Swiss Federal Tax Administration (official)
- ESTV / FTA — Swiss VAT rates (official, 8.1% standard)
- ESTV / FTA — Withholding tax (Verrechnungssteuer, official)
- EFD / Federal Department of Finance — Implementation of the OECD minimum tax in Switzerland
- Swiss Code of Obligations — Art. 814 (managing officers, Swiss-resident representative)
- PwC Tax Summaries — Switzerland corporate taxes on income
- PwC Tax Summaries — Switzerland other taxes (issuance stamp duty, capital tax)
- PwC Switzerland — international corporate tax comparison (cantonal rates)
More on Switzerland
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