Entity
AG formation
Incorporate the share company a trading house and its banks expect, with real substance.
AG formationTrading & Commodities
in Switzerland.
Switzerland is a global hub for commodity trading, and the reasons traders come here (neutrality, banking, talent) come with scrutiny. Sanctions, source-of-funds and counterparty risk sit on every desk. We set up and support Swiss trading houses with the company, the VAT position, the screening and the banking they need to operate cleanly.
At a glance
Formation, VAT, sanctions screening and banking for a Swiss trading house.
Independent since 2007 · IFLR1000-ranked · offices in Zurich and Zug · one partner per file.
- Entity
- AG with trading substance
- VAT
- Registration & cross-border
- Screening
- Sanctions & counterparties
- Banking
- Trade-finance introductions
The challenge
What this sector has to get right in Switzerland
A commodity trader incorporating in Switzerland usually wants an AG (the share-company form that signals scale and works for trade finance) with enough substance to satisfy a bank and a tax authority. The VAT position is rarely simple: physical and paper trades, cross-border supplies and the question of where delivery happens all shape registration and reporting, and getting it wrong creates both cost and exposure.
The harder edge is risk. Trading touches sanctioned jurisdictions, politically exposed counterparties and fast-moving restrictions, so sanctions screening and counterparty due diligence are not optional add-ons but daily operations. Swiss banks providing trade finance test this hard before they lend, and a trading house that cannot show strong screening and clean source-of-funds will struggle to bank, which for a trader is existential.
We handle the company, the VAT registration, the screening framework and the bank introductions together, so the trading entity is built to pass the checks its own bankers and regulators will run rather than retrofitted under pressure once a deal is live.
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.
VAT
VAT compliance
Register and report VAT correctly across physical and cross-border trades.
VAT complianceRisk
Sanctions screening
Screen counterparties and transactions against sanctions and PEP lists as a daily operation.
Sanctions screeningSetup
Swiss company formation
Stand up the operating entity and its registrations in full.
Swiss company formationBooks
Accounting & bookkeeping
Trade accounting and reporting that hold up to audit and trade-finance review.
Accounting & bookkeepingBanking
Swiss bank account
Prepare the source-of-funds story and introduce the company to a trade-finance bank.
Swiss bank account 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
For a trading house, banking is survival, and banking turns on clean screening and substance. We build the entity, the VAT position and the screening to pass that test, have been independent since 2007, and have been ranked by IFLR1000 across editions from 2015 to 2026. One partner co-ordinates the company, the compliance and the bank introduction.
FAQ
Frequently asked questions.
01Which company type should a commodity trading business register in Switzerland?
Most commodity traders register an AG (Aktiengesellschaft), the share-company form that signals scale and works for trade finance. It needs CHF 100,000 of capital, of which at least CHF 50,000 must be paid in, and the shareholders stay off the public commercial register. A GmbH with CHF 20,000 capital is cheaper but puts members on the public register, which most banked trading houses avoid. We confirm the fit before drafting the articles.
02Does a Swiss trading company have to register for VAT?
Yes, once worldwide turnover from taxable supplies reaches CHF 100,000 a year, and the position is rarely simple for a trader. Physical and paper trades, cross-border supplies and the question of where delivery happens all shape registration and reporting, and a foreign counterparty without a Swiss establishment may need its own fiscal representation. Getting the treatment wrong on a high-volume trading book creates both cost and exposure to back-tax.
03What is the current Swiss VAT rate that applies to trading turnover?
The standard rate is 8.1 percent, applied to most supplies, with a reduced rate for certain goods and a special rate for accommodation services that will rarely touch a trading business. What matters more for a trader is correctly classifying physical delivery, paper trades and cross-border supplies, since the place and nature of each transaction decides whether Swiss VAT applies at all before the rate is even relevant.
04Which sanctions lists must a Swiss trading company screen against?
At minimum the Swiss sanctions administered by SECO, which implement Switzerland's own measures and UN Security Council designations. Most trading houses also screen against the EU consolidated list and the US OFAC lists, because counterparties and payment chains routinely touch those jurisdictions regardless of Swiss law. The right list coverage depends on the trader's actual footprint: which counterparties, which currencies, which banks are in the chain.
05When does sanctions screening happen in a trading relationship?
At two points at least. First at onboarding, before a counterparty relationship opens, so a designated party never gets through the front door. Second on a periodic re-scan of existing counterparties, because sanctions lists change constantly and a party clean at onboarding can be designated later. Fast-moving trading desks often add screening on relevant events too, such as a new counterparty or a change in beneficial ownership.
06Why do Swiss banks scrutinise commodity trading companies before opening an account?
Because trade finance exposes the bank directly to the trader's counterparty and sanctions risk, and banks test the source-of-funds and source-of-wealth story hard before they lend. A trading house needs a documented explanation of how the business and the specific funds arose, corroborated with supporting evidence, plus clean sanctions screening and counterparty due diligence. A trader that cannot show this will struggle to bank, which is close to existential for a trading operation.
07What accounting standard applies to a Swiss trading company's books?
Swiss companies keep their books under the Code of Obligations, and any business above CHF 500,000 in annual turnover, which covers most trading houses, must keep full double-entry accounts producing a balance sheet, an income statement and notes. Larger or internationally owned traders sometimes report under Swiss GAAP FER or IFRS instead. The accounts must give a reliable picture and be retained for ten years, and should reconcile to the VAT returns and the tax position.
08Does a Swiss trading company need a statutory audit?
It depends on size. A company exceeding two of three thresholds (CHF 20 million balance sheet, CHF 40 million turnover, 250 full-time staff) needs an ordinary audit, most others need a limited audit, and a company with no more than ten full-time employees can opt out of the limited audit with all shareholders' consent. High transaction volumes and trade-finance banking relationships often make a clean, audit-ready set of books worthwhile even where an audit is not mandatory.
09How long does it take to set up a Swiss AG for a trading business?
About two to four weeks once the file and capital are ready, covering the articles, the notarised deed, the capital deposit and the commercial-register entry. For a trading house the real variable is usually the bank account, since trade-finance banking involves heavier source-of-funds and counterparty checks than a typical operating account, so it is best started alongside the incorporation rather than after it.
10Can a foreign trading group incorporate a Swiss AG without travelling?
Yes. A non-resident founder can incorporate through a power of attorney, so the notarisation proceeds without travel, with identity and source-of-funds documents handled in advance. The AG still needs a Swiss-resident representative and a registered office, and for a trading house the bank account, usually the step that takes longest, is best run in parallel with the formation rather than started afterwards.
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.”
Setting up a commodity trading company in Switzerland?
Tell us what you trade, your counterparties and where you bank. A partner will map the entity, the VAT and the screening it needs, and reply within one business day.
