Trustees and wealth structures

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The Financial Institutions Act subjects professional trustees to an authorisation requirement, in the same way as asset managers. By 2022, FINMA had authorised eleven of them, according to a specialist publication.¹ This regulation directly concerns Geneva, where many professionals administer trusts set up under foreign law for international families.

Swiss law has recognised foreign trusts since the ratification of the Hague Convention on the Law Applicable to Trusts and on their Recognition.² A project to introduce a trust under Swiss law was discussed in recent years, but its success was never assured.³ The Act on the Transparency of Legal Entities also covers trusts, which imposes new identification and reporting obligations on trustees from 1 October 2026.⁴

For practitioners, wealth structuring by means of trusts, foundations and companies must now take account of all of these requirements: authorisation of the trustee, anti-money laundering obligations, transparency of beneficial owners, and the tax compliance of beneficiaries in their countries of residence. The part devoted to taxation and wealth planning will develop these questions.

Notes

“Réglementation LSFin : plus de 350 gérants indépendants agréés par la Finma” (FinSA regulation: more than 350 independent managers approved by FINMA), LExpert Invest (accessed September 2026). ↩
Hague Convention on the Law Applicable to Trusts and on their Recognition, in force for Switzerland since 1 July 2007, with the introduction of Art. 149a to 149e of the Federal Act on Private International Law (PILA; SR 291) by the federal decree of 20 December 2006; Centre de droit bancaire et financier, “La Convention de La Haye entre en vigueur le 1er juillet 2007”, cdbf.ch. ↩
Consultation opened on 12 January 2022 on the basis of motion 18.3383; the Federal Council abandoned the project on 15 September 2023; the motion was written off by the Chambers on 12 December 2023 and 27 February 2024; Federal Office of Justice, “Introduction du trust dans le droit suisse”, bj.admin.ch (accessed September 2026). ↩
“Newsletter juin 2026 – Transparence des personnes morales : rappel et tour d’horizon”, Bonnard Lawson, 26 June 2026. ↩

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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Trustees and wealth structures

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