Licence
Asset manager licence
FinIA authorisation for managers of individual portfolios and qualifying collective assets.
Asset manager licencePE / VC & Fund Managers
in Switzerland.
A fund manager in Switzerland lives between two regimes: the licence that lets it manage, and the structures it manages through. We handle both: the FinIA asset-manager or CISA fund authorisation on one side, and the SPVs, holding entities and ongoing administration on the other, so the front office runs on a compliant base.
At a glance
Manager licensing is core financial-regulation work; structuring and administration sit alongside it.
Independent since 2007 · IFLR1000-ranked · offices in Zurich and Zug · one partner per file.
- Licence
- FinIA asset-manager / CISA fund
- Structures
- SPVs, holdings, feeders
- Admin
- Entity management & substance
- Flagship
- Financial regulation since 2014
The challenge
What this sector has to get right in Switzerland
Whether a manager needs a licence in Switzerland turns on what it does and for whom. Managing collective assets or acting as a manager of collective investment schemes pulls you under the Financial Institutions Act as an asset manager or, at fund level, under the Collective Investment Schemes Act. De-minimis thresholds and the distinction between managing individual portfolios and collective schemes decide which door you go through, and the prudential and organisational requirements differ sharply between them.
Underneath the licence sit the vehicles. Private-equity and venture structures run through special-purpose vehicles, holding companies and, increasingly, tokenised feeders. Each entity needs real substance, clean books, directors who can act, and entity management that keeps filings and registers current across the fund's life. Investors and their counsel test this in diligence; a thin structure is a fundraising problem, not just a compliance one.
We keep the licence and the structures on one desk so they stay consistent: the regulatory permissions, the entities they apply to, and the administration that proves substance, rather than splitting them across a regulatory adviser, a corporate-services provider and an administrator who do not speak to each other.
What this desk handles
The services this sector uses most
Each links to the service page itself. Most mandates here combine several; one partner co-ordinates them.
Fund level
Fund licence (CISA)
Authorisation and product approval for collective investment schemes under the CISA.
Fund licence (CISA)Perimeter
FINMA authorisation
Confirm whether your activity needs a licence, and which one, before you commit to a route.
FINMA authorisationStructures
SPV administration
Set up and run the special-purpose vehicles a fund deploys through, with real substance.
SPV administrationOngoing
Entity management
Keep registers, filings and corporate housekeeping current across every entity in the structure.
Entity managementDigital
Crypto fund
Structure and license a fund with digital-asset exposure under Swiss fund and custody rules.
Crypto fundTax
Tax advisory
Manager and structure-level tax, including carried-interest and cross-border questions.
Tax advisory Talk to the desk
Speak to a partner who knows the sector
No intake form to a junior, no call centre. The partner who reads your enquiry is the one who has run this structure before, and the one who will own your file. Outline your situation and you will have a considered reply, with the likely route and the next step, within one business day.
Why Goldblum and Partners
Swiss depth, one accountable partner
Funds are tested in diligence, and a weak structure costs a fundraise. We have specialised in FINMA and FinIA work since 2014, have been independent since 2007, and have been ranked by IFLR1000 across editions from 2015 to 2026. One partner holds the licence, the SPVs and the administration together, so what you tell investors matches what the registers show.
FAQ
Frequently asked questions.
01Does a fund manager need a licence in Switzerland?
Whether a fund manager needs a licence turns on what it does and for whom. Managing collective assets or acting as a manager of collective investment schemes falls under the Financial Institutions Act as an asset manager or, at fund level, under the Collective Investment Schemes Act. De-minimis thresholds and the distinction between managing individual portfolios and collective schemes decide which licence route applies, and the requirements differ sharply between them.
02What is the difference between a FinIA asset manager licence and a CISA fund licence?
A FinIA licence authorises managers of individual portfolios and qualifying collective assets, while a CISA fund licence covers authorisation and product approval for the collective investment scheme itself. Which route a manager needs depends on whether it manages individual client assets or acts as manager of a collective scheme, with prudential and organisational requirements differing sharply between the two. Confirming which door applies is treated as a distinct first step.
03What structures do private equity and venture capital funds use in Switzerland?
Private-equity and venture structures typically run through special-purpose vehicles, holding companies and, increasingly, tokenised feeders. Each entity needs real substance, clean books, directors who can act, and entity management that keeps filings and registers current across the fund's life. Investors and their counsel test this in diligence, so a thin structure becomes a fundraising problem for the manager, not only a compliance one.
04Why do investors check fund structures during due diligence?
Investors and their counsel test a fund's structure in diligence, looking at whether the special-purpose vehicles and holding entities beneath the licence have real substance, clean books and directors who can act. A thin structure is treated as a fundraising problem, not only a compliance one, because it signals the manager cannot support what it tells investors. Entity management that keeps registers and filings current is part of showing that substance.
05What is entity management for a fund structure?
Entity management keeps registers, filings and corporate housekeeping current across every entity in a fund structure, including the special-purpose vehicles and holding companies beneath the manager. It sits alongside the manager's licence rather than apart from it, so the administration that proves substance stays consistent with the regulatory permissions the manager holds. This matters because investors and their counsel test structure and substance together during diligence.
06Can a fund manager use one adviser for licensing and administration?
Keeping the licence and the underlying structures on one desk keeps them consistent, with the regulatory permissions, the entities they apply to, and the administration that proves substance held together rather than split across a regulatory adviser, a corporate-services provider and an administrator who do not speak to each other. One partner co-ordinates asset manager or fund licensing together with SPV administration and entity management.
07Can I set up a crypto fund in Switzerland?
A fund with digital-asset exposure can be structured and licensed in Switzerland under Swiss fund and custody rules, alongside the FinIA or CISA authorisation that applies to the manager itself. Because financial regulation covering crypto and fund licensing sits on the same desk, the custody and structuring questions are handled together with the manager's licence and the fund's underlying structures rather than as a separate project.
08How is carried interest taxed for a Swiss fund manager?
The answer turns on whether the carry is a private capital gain or remuneration for services. Switzerland levies no income tax on capital gains from privately held movable assets, so a return on capital the manager has genuinely invested alongside investors can fall outside income tax. A carry that is disproportionate to that investment is more readily characterised as compensation and taxed as income. The distinction follows from how the manager's participation is structured, so it is settled at structuring time rather than at exit.
09Does every fund manager need a full FINMA authorisation?
Not every fund manager needs a full FINMA authorisation; whether one applies depends on what the manager does and for whom, and de-minimis thresholds separate managers who fall outside licensing from those who fall under FinIA or CISA. Confirming which activity needs a licence, and which one, is treated as a distinct first step before a manager commits to a route, keeping the classification settled before structures are built around it.
10How quickly does Goldblum reply to a fund manager enquiry?
A partner replies within one business day, setting out the likely licence route and the structures it runs through once you have described your strategy, your investors and where you manage from. The partner who reads the enquiry is the one who has run this kind of structure before and who will own the file, rather than an intake form going to a junior or a call centre.
The client's stories
What clients say
Rated 5.0 / 5 from 38 reviews on Google. Read them on Google →
“Perfekter Service! Wir wollten eine AG in der Schweiz übernehmen und hatten kaum Zeit – innerhalb weniger Tage war alles organisiert, inklusive Notar, Handelsregister und Bank.”
“We consulted Goldblum and Partners for structuring our crypto project under Swiss law. Their team was clear about the threshold between non-custodial and financial-intermediary status.”
“Équipe sérieuse. La documentation AML fournie était claire et adaptée à notre activité crypto. Je recommande.”
“Professionisti veri. Conoscono bene la legge svizzera e si sono occupati di ogni aspetto del passaggio azionario.”
Standing up a manager or a fund in Switzerland?
Tell us your strategy, your investors and where you manage from. A partner will set out the licence route and the structures it runs through, and reply within one business day.
