4 ms·

Real question: why they just did not register their company in countries like Switzerland and operated from there?

• seanhunter 6y ago
  Real answer: 1) Registering a company in Switzerland requires a Swiss address and Swiss national as a director. See https://www.companyformationswitzerland.com/register-swiss-company https://www.companyformationswitzerland.com/register-swiss-c... and elsewhere 2) Registering a Swiss company wouldn't by itself allow them to escape US DoJ enfoncement actions. see https://www.justice.gov/opa/pr/ubs-enters-deferred-prosecution-agreement https://www.justice.gov/opa/pr/ubs-enters-deferred-prosecuti... for example 3) Registering a Swiss company wouldn't exempt them from KYC requirements http://bankersacademy.com/pdf-aml/amlswitzerland-law.pdf http://bankersacademy.com/pdf-aml/amlswitzerland-law.pdf for example says that the swiss AML legislation includes non-bank financial institutions (such as exchanges) Edit to add: It's also non-trivial to get a Swiss work visa if you're not a national. I had one for a while and it required a Swiss company to use up one of their finite central allocation and show that the work wasn't replacing the job of a Swiss national and was being paid the average wage or more (this to prevent exploitation of migrant labour apparently).
  • tgsovlerkhgsel 6y ago
    > non-trivial to get a Swiss work visa If you just want to work, maybe. If you want to found a company and have half a million CHF of capital, it's a different story. The other statements still apply.