チューリッヒ、ジュネーブ、ツーク：事業に適した州はどこか
- Summary
Company law, banking law and anti-money laundering rules are federal and the same everywhere in Switzerland. What differs between the cantons is the profit tax, the language of the authorities and the business community you join. For most companies from Asia, the Middle East and Africa, the choice comes down to Zurich, Geneva or Zug.
Zurich is the largest financial centre, with the deepest pool of banks, advisers and qualified staff and the SIX Swiss Exchange; its effective profit tax is the highest of the three, at around 19.5 %. Geneva is French-speaking and international, the world's hub for commodity trading and home to many international organisations, at around 14.7 %. Zug is small, fast and business-friendly, the base of many holding and trading companies and of the Crypto Valley, with the lowest rate of the three at around 11.7 %.
The right canton is the one where your business will actually be run: the tax rate matters, but substance, staff and counterparties matter as much.
- Key points
- Swiss company, banking and supervisory law is federal; the cantons differ mainly in tax, language and business environment.
- Effective profit tax in the cantonal capitals: Zug about 11.7 %, Geneva about 14.7 %, Zurich about 19.5 %.
- Large groups within the scope of the global minimum tax pay at least 15 % wherever they are.
- Geneva works in French, Zurich and Zug in German; English is widely used in business in all three.
- Substance decides: the company must be managed where it is registered, with real premises and people.
- Transcript
Does it matter in which canton a company is set up?
Less than many people think, and more than some hope. The law that governs your company, your bank and your licences is federal. What the canton decides is the profit tax, the language in which the authorities work, and the business community around you.
What speaks for Zurich?
Depth. Zurich is the largest financial centre in Switzerland, with the head offices of the major banks and insurers, the SIX Swiss Exchange, and the largest pool of lawyers, auditors and qualified staff. The airport has direct flights to Asia and the Gulf. The price is the highest profit tax of the three, around 19.5 % effective, and high salaries and rents.
And Geneva?
Geneva is the most international of the three. It is the world's leading centre for commodity trading and trade finance, a centre of private banking, and the seat of the United Nations in Europe and many international organisations. The authorities work in French. The effective profit tax is around 14.7 %.
Why do so many holding companies go to Zug?
Because Zug combines the lowest profit tax of the three, around 11.7 %, with authorities that are fast and used to international groups. Many trading and holding companies are based there, and the Crypto Valley grew up around it. Zug is small, so for large teams people often live in Zurich or Lucerne and commute.
Is the lowest tax rate always the right choice?
No. The company must be managed where it is registered. If your board meets in Zurich and your team works in Geneva, a registered office in Zug will not hold up with the tax authorities or with the bank. And for large groups within the scope of the global minimum tax, the Swiss top-up tax raises the effective rate to at least 15 % anyway.
So how do you decide?
We start from the business: where the people will work, which counterparties and banks matter, which language the team speaks, and how the profits will flow. Then we compare the cantons that fit on tax. In most cases one location clearly stands out.
- What this means in practice
Before you choose a canton, answer these questions.
- Where will the directors and the key staff actually work and meet?
- Which counterparties, banks and service providers do you need close by?
- Is your group within the scope of the global minimum tax?
- Which language will your team and your correspondence with the authorities use?
- Do you plan a listing, a fund or a regulated activity that points to a particular financial centre?
- Frequently asked questions
Can the registered office be moved to another canton later?
Yes. A Swiss company can move its registered office to another canton by amending its articles of association and registering the change. Tax consequences should be checked in advance.
Do the tax rates differ within a canton?
Yes. The communal tax multiplier varies from one municipality to the next, so the effective rate outside the cantonal capital can be higher or lower.
What about Basel and Lugano?
Basel is strong in life sciences and cross-border business with Germany and France; Lugano is the Italian-speaking gateway to Milan. Both can be the right choice for particular businesses.
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- About the video
- Speaker: Dr Alexander Ressos, Rechtsanwalt/Attorney-at-Law, Zurich
- Published: 29 September 2026
- Subject: Choice of location, tax
- Jurisdiction: Switzerland
- Running time: 4 minutes
- About the speaker
Dr Alexander Ressos is a Swiss lawyer entered in the Register of Attorneys of the Canton of Zurich and admitted as a solicitor in Hong Kong and in England and Wales. He is also admitted as a Rechtsanwalt in Germany. He practised in Singapore and Hong Kong for more than 15 years and advises companies from Greater China, Asia, the Middle East and Africa on setting up and doing business in Switzerland. Attorney Profile and Qualifications
- Let's talk
If you are weighing Zurich, Geneva and Zug, a conversation will show faster than any comparison table which location fits your business. The first consultation is free of charge and without obligation, and professional secrecy applies from the first word.
本記事は一般的な情報提供のみを目的としています。法律上または税務上の助言を構成するものではなく、個別案件に関する助言に代わるものでもなく、弁護士と依頼者との間に委任関係を生じさせるものでもありません。本記事は2026年9月時点の法的状況を反映しています。