Relations with African authorities

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In Africa, Geneva actors deal with tax authorities, central banks, financial regulators and prosecuting authorities whose practices vary. African tax authorities, strengthened by international assistance programmes and by the automatic exchange of information in which several African states participate, audit the transfer prices of traders and groups, with reassessments that are sometimes considerable. Central banks control foreign exchange and the repatriation of funds, with rules that change according to the state of the reserves. Financial regulators supervise local banks and payments, while prosecuting authorities, some of which cooperate actively with Switzerland in asset recovery, investigate corruption.¹

The relationship with these authorities calls for knowledge, patience and transparency. A trader that documents its transfer prices according to the standards of the Organisation for Economic Co-operation and Development, a bank that responds to requests for mutual legal assistance, an investor that respects the exchange rules avoid the disputes that Part F has described and build a reputation that the African authorities, networked among themselves, pass on to one another. The Geneva-based international organisations, which train and advise these authorities, are for the practitioners of the financial centre sources of information and, on occasion, mediators.

Notes

Tax Inspectors Without Borders (tiwb.org), “a joint initiative of the Organisation for Economic Co-operation and Development (OECD) and the United Nations Development Programme (UNDP)” supporting the tax audit capacity of developing countries; UNCTAD, Economic Development in Africa Report 2020: Tackling Illicit Financial Flows for Sustainable Development in Africa (estimates of export under-invoicing, characteristics of mineral products); SIF, “Financial Action Task Force (FATF)” (fifth round of evaluations opened in October 2024). ↩

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.

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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.

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Relations with African authorities

Notes

Setting up or expanding in Switzerland?