In Switzerland entrepreneurs do not need special approval from the authorities or professional or trade associations to found a company. The only requirements are residence and work permits. Special permission or certificates are necessary to practise certain professions and to found certain companies. There are limitations in respect of state monopolies (railways, post office).
The productivity of Swiss workers is high. Characteristics of the labour market include liberal labour laws, a light touch in regulation and a high level of social stability. As Switzerland is a multilingual country, employees often speak several languages.
Switzerland’s geographic position offers an ideal economic environment. The country’s infrastructure is among the best in the world. Other attractions of Switzerland include the cultural diversity and wide choice of recreational activities.
By comparison with other European countries, taxes on corporate and personal income are low. Value-added tax and customs duties are also low. The tax system reflects the country’s federal structure, which promotes competition between the cantons in respect of taxes. The country has signed bilateral double taxation agreements to avoid double taxation at the international level.
