Switzerland Transparency Register: Beneficial Owner Reporting Guide

On 1 October 2026, the Switzerland transparency register launches; a central on-line federal register of beneficial owners. Most Swiss entities and foreign entities with a Swiss footprint are in scope. Intentional non-compliance carries high fines. 

Here is what is coming, who it touches and what to do before time runs out. 

What is changing?

On 1 October 2026, Switzerland’s new Transparency Act¹ and its adjoining Ordinance enter into force. It forms part of a wider update to the country’s anti-money-laundering framework, timed just ahead of Switzerland’s next FATF country review. 

The centrepiece is a Transparency Register under the supervision of the Federal Office of Justice. In-scope entities will have to assess, document and report their shareholders and beneficial owners to it. Equally, persons jointly controlling (see further below) and trustees (if appearing in the intermediate holding structure) fall within the scope.  

The Transparency Register replaces the internal beneficial-owner list that Swiss entities have had to keep under the Code of Obligations (CO). Not unimportantly, the new criteria are not identical, so the information held may not simply carry over. 

What’s in scope of the Switzerland Transparency Register?

• Swiss legal entities which include the Société Anonyme or Aktiengesellschaft (SA/AG), Société à responsabilité limitée or Gesellschaft mit beschränkter Haftung (Sàrl/GmbH), partnerships limited by shares, cooperatives, SICAV, SICAF and limited partnerships for collective investment. 
• Foreign entities with a Swiss link, meaning a registered Swiss branch of a foreign legal entity, a foreign legal entity with effective management and control in Switzerland, or ownership respectively acquisition of Swiss real estate by such foreign legal entity. 
• Swiss-based trustees not already supervised under the anti-money laundering act (AMLA). They must identify and keep records, but do not have to make filings with the Transparency Register. 
• Exemptions will be in place for listed entities in Switzerland or abroad and their Swiss subsidiaries held for 75% or more, as will be public-sector owned entities with the same level of shareholding, Swiss associations and foundations, and pension institutions. 

Who counts as a beneficial owner for the Transparency Register?

Any individual who alone or jointly, directly or indirectly, ultimately controls the Swiss entity through at least 25% of share capital or votes, or through control by other means, like the right to appoint or remove a board majority, veto key decisions, or steer profit distributions, including via shareholder agreements, convertibles, the articles of association, or fiduciary or family arrangements.  

Indirect control is measured as holding at least 50% of an intermediate entity that in turn holds 25% or more of the Swiss entity in scope.  

Where no individual qualifies according to the above rules, the most senior member of management of the Swiss entity must be reported to the Transparency Register by default. 

What beneficial owner information must be gathered and reported?

For individuals, the following information must be obtained and documented by the Swiss entity and communicated to the Transparency Register: full name, birth date, nationality, address, and the AVS-number if Swiss, or otherwise an official identification document.²

As for individuals, for intermediate entities information must be gathered, documented and reported: name, legal form, address, identification number and percentage of shareholding. If listed, information on the stock exchange must be obtained. 

Shareholders of the Swiss entity must communicate the information they hold on their beneficial owner(s) to the Swiss entity. Likewise, the beneficial owners must provide their information to the intermediate entity–shareholder or directly to the Swiss entity. A deadline of one month applies after they become aware of a change, respectively a change takes place. It should be noted that these are distinct obligations under Swiss law that also apply to foreign individuals and entities. 

Switzerland Transparency Register Deadlines: Critical Compliance Timeline

New legal entities and their beneficial owners must be reported to the Transparency Register within one month after incorporation.  

For entities already existing on 1 October 2026, transitional deadlines apply: 

There is a sting in the tail: any Commercial Register filing on or after 1 October 2026, even one unrelated to the topic of beneficial owners, such as a change of signatory, triggers the one-month reporting deadline to the Transparency Register. Complex or foreign-owned structures should therefore not wait to start the process of assessing and documenting, thereby ensuring that they are ready to report. 

Access to and accuracy of the Switzerland Transparency Register

The register is not public. Only public authorities and AMLA-regulated financial intermediaries and advisers can consult it, to comply with their due-diligence duties. There is no such thing as parties allowed access because of a ‘deemed interest’. Every consultation and update is logged.  

It is not assumed that entries in the Transparency Register are correct. Therefore, financial intermediaries must keep doing their own checks and compare. From 1 April 2027 financial intermediaries must report material discrepancies they find and cannot resolve to the Transparency Register. 

Penalties for non-compliance

Intentional breaches of the reporting or cooperation duties and providing false information may attract fines of up to CHF 500,000. Persistent breaches can lead to suspension of shareholder rights (for example right to dividend) and may lead to dissolution and liquidation of the Swiss entity. 

What to do now?

Action should be taken sooner rather than later, particularly when a shareholding structure consists of multiple tiers. We suggest that one: 

1. Confirm scope for each entity (including foreign entities touching Switzerland) and pin down its exact deadline. 
2. Re-run the beneficial-owner analysis under the new criteria. Do not assume your old list compiled under the CO still fits. 
3. Map and document ownership and control chains, including all intermediate entities and any trust links. 
4. Build the one-month change reflex into your corporate-housekeeping processes. 

How can we help?

JTC can help clients stay ahead of the upcoming Switzerland Transparency Register with practical, expert-led support across the full ownership reporting process.  

From reviewing shareholder registers and mapping complex shareholding structures to identifying and documenting ultimate beneficial owners and assisting with Transparency Register filings, we provide a clear, efficient and reliable approach that reduces complexity and gives clients confidence they are well prepared for the new transparency requirements.

¹  Switzerland Transparency Register
² Copy of passport, Swiss or foreign identity card or Swiss residency permit