As a law firm, we are proud to have been given the opportunity to be interviewed by the Süddeutsche Zeitung. The article focuses on Deutsche Bank’s involvement and the tax schemes Epstein utilized.
Deutsche Bank and the Epstein Files Scandal
To be allowed to play on this island of the blessed, a Swiss stock corporation is generally required. A limited liability company (GmbH) in Switzerland is not recommended. Although with this form, one would not have to raise CHF 100,000.00 in share capital (OR 621 – OR 622 and OR 632).
Is the procedural complexity a rarity?
There are also minor hurdles in Switzerland: Since July 1, 2015, every Swiss stock corporation must be representable by a person who is domiciled in Switzerland. If you remain in Germany and wish to appoint a professional to your board of directors, this costs approximately CHF 5,000.00 per year. In total, you should budget approximately CHF 4,000.00 to 5,000.00 for the formation of a stock corporation, plus commercial register fees, etc.
Once the AG has finally been entered in the commercial register, OR 643
Is the Epstein case only possible in the U.S.?
You’re better off not even trying to do it yourself: Although the undersigned incorporates companies weekly, for example in the U.S. or Asia, he sought help; as a “newbie” in Switzerland, it simply won’t work. We chose the team led by Michele Blasucci from Startups.Ch in Winterthur, who never let us down and did an excellent job. Feel free to give Michele a call—he also speaks Standard German! You can’t go wrong here.
Next Steps?
Based on our own experience, we advise: Do not try to contact the authorities in Switzerland on your own. The Migration Office acts as a “gatekeeper”—and if you come from Germany, you’re not wearing the Swiss national costume. The laws in Switzerland are less precisely defined; there is significantly less case law and judicial precedent. We had the impression that the officials in charge didn’t know their own laws. They’ll surely find a reason to give you a hard time. Germans don’t have a high standing in Switzerland, and the “little administrative lords” hide behind the Swiss justice system in an uncharming way. Have a professional represent you right away. We were fortunate to have Mr. Ferhat Kizilkaya, who handled our case expertly.
What can we learn from this?
Switzerland can be a great business case. Given the decline of the European Union, Switzerland makes perfect sense. The British recognized this years ago; now only Germany (which was to be expected, since, in keeping with German tradition, they can extract it from taxpayers under the guise of legality) and France are still contributing to the pot.
