Principle 1: distinguishing without discriminating

Read the PDF edition (2 pages)

The first principle consists in distinguishing, among African clients, counterparties and transactions, those that present particular risks from those that do not, without treating the continent as a single block. An approach that refused any relationship with Africa for fear of the risks would amount to unjustified discrimination, would deprive the financial centre of legitimate business and would contradict its tradition of openness. An approach that accepted every relationship without verification would expose it to the risks described.

The distinction rests on an analysis conducted country by country, sector by sector and client by client. Governance and corruption indices, the reports of international organisations and non-governmental organisations, sanctions regimes and the asset freezes ordered by the Federal Council provide points of reference. They must be supplemented by concrete knowledge of the situations on the ground, which the skills of the diaspora and the networks of International Geneva make it possible to acquire.

The distinction also concerns individuals. An entrepreneur whose wealth derives from legitimate activities, an established professional, a family that has built up its assets over several generations deserve the same welcome as their counterparts from other continents. A politically exposed person, someone close to those in power, the head of a state-owned enterprise call for the enhanced vigilance that Part H has described. The country of origin, taken alone, is a basis neither for exclusion nor for reassurance.

Key point. Africa comprises fifty-four states in widely differing situations. Geneva’s actors must distinguish the risks country by country and client by client, without discrimination based on origin and without complacency towards relationships that present real risks.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

English

Contact

Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

Get in touch →

Principle 1: distinguishing without discriminating

Setting up or expanding in Switzerland?