Representative offices of financial institutions based outside Switzerland under FinIA

Representative offices of financial institutions based outside Switzerland must satisfy specific conditions before SFMA grants a licence.

A representative office is generally used to represent a foreign financial institution in Switzerland, maintain contacts, provide information and support client acquisition without carrying out the full regulated activity of a Swiss branch. The authorisation requirement helps ensure that such offices are transparent, properly controlled and connected to a supervised foreign institution.

Authorisation conditions

The applicant must describe the foreign institution, the Swiss representative office, the planned activities, staffing, reporting lines and controls. SFMA considers the home-country supervision of the foreign institution, the reputation and qualifications of the persons responsible, and whether the office will remain within the permitted scope of activity.

The application should make clear which services are provided by the foreign institution and which activities are performed locally in Switzerland. If the Swiss presence will negotiate contracts, handle client assets, provide regulated services or make binding commitments, another authorisation category may be relevant.

SFMA also considers whether the foreign institution is subject to adequate supervision abroad and whether cooperation with the foreign authority is possible. The Swiss representative office should be integrated into the institution control framework while still being able to comply with Swiss requirements.

Submitting applications

Applications should include corporate documents, a description of the group, evidence of authorisation abroad, information on the Swiss office, internal rules and the persons who will lead the local activity. Documents should clearly distinguish representative activity from activities that would require a different Swiss authorisation.

Applicants should include organisational charts, job descriptions, draft local procedures, powers of attorney, outsourcing arrangements and explanations of how records will be kept. Where documents are issued in another language, certified or reliable translations may be needed to support the review.

Duration of the procedure

The length of the procedure depends on the completeness of the file and the complexity of the structure. Questions about foreign supervision, group governance or unclear business models can extend the review. Applicants should therefore prepare a complete file before submission.

Information and forms

Applicants should use the current guidance and forms made available by the authority and should contact the competent team if the planned activity raises questions about the applicable licence category. Once licensed, representative offices must keep the authority informed of material changes to their organisation, management, group connection or activities in Switzerland.

Foreign bank distinction

The page distinguishes representative offices of financial institutions under the Financial Institutions Act from representative offices of foreign banks, which are addressed through the banks and securities firms authorisation area. Applicants should therefore check the legal basis before preparing a file. The same Swiss presence can lead to a different authorisation route depending on the foreign institution and the activities planned locally.

Forms and declarations

The information and forms section provides a licence application form for representative offices of foreign financial institutions under the FinIA, a fit and proper form for responsible persons, and declarations concerning pending or concluded proceedings, qualified participations and other mandates. These documents allow the authority to assess governance, ownership, reputation and possible conflicts.

The source page also identifies the asset management contact address for questions about the procedure. Applicants should use that contact route for procedural questions and should prepare a complete application before submission through the relevant platform.

Procedure expectations

The review period depends heavily on whether the file is complete and whether the foreign institution, home supervision and local activities are clear. Ambiguity about whether the Swiss office is merely representative or will conduct regulated business can delay the procedure. Applicants should therefore define the local perimeter precisely, including client contact, marketing, contract negotiation, reporting lines and record keeping.