Zug in the international competition

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Crypto Valley competes with other crypto hubs around the world: Singapore, Dubai and Abu Dhabi, Hong Kong, London, the Cayman Islands, Liechtenstein, Malta and, in the United States, Miami and New York. Each offers its own combination of regulation, taxation, talent and access to capital. Singapore and Hong Kong have developed licensing regimes for crypto service providers and position themselves as the gateways to the Asian market. Dubai and Abu Dhabi have created dedicated regulators and free zones for virtual assets. The European Union has adopted its Regulation on Markets in Crypto-Assets, which creates a single licensing regime for crypto service providers in the Union and allows them to serve the whole European market from one member state.¹

Switzerland is not a member of the European Union and does not benefit from the European passport. A Swiss crypto company that wishes to serve clients in the European Union must obtain a licence in a member state. This is a disadvantage for Zug in the competition for companies that target the European market, which has led some Swiss companies to establish subsidiaries in the Union. Zug's advantages lie in the maturity of its ecosystem, the clarity of its regulatory framework, the reputation of Swiss law and institutions as well as the quality of life that it offers to the entrepreneurs and specialists of the industry. The canton's position in the international competition is examined further in Part K.

Notes

Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA), Art. 149, eur-lex.europa.eu: Titles III and IV (asset-referenced tokens and e-money tokens) apply from 30 June 2024, the remaining provisions from 30 December 2024. Treated in Part H. ↩

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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Zug in the international competition

Notes

Setting up or expanding in Switzerland?