Supporting Structures to grow
We provide a broad spectrum of private wealth structuring services to a small number of wealthy families. Besides financial services, we also offer planning, charitable giving advice, concierge, and other comprehensive services. As a multi-family office, our clients and their families are benefiting from economies of scale.
“If you want to go fast, go alone;
If you want to go far, go together.”
Why a Family Office in Switzerland?
If you are thinking of using the services of a Multi-Family Office, jurisdiction is crucial. You should not work with a Multi-Family Office that is located in an unstable country, because one of the key tasks of a Family Office is to protect your assets.
Switzerland as a safe haven for Family Offices
Modern Switzerland was founded as a federal state in 1848 and its history dates back over 700 years to 1291. Switzerland pledged neutrality in 1815 and has not been directly involved in any war since 1848. The country is a so-called direct democracy, where voters can directly elect or vote out politicians, vote on laws, or propose amendments through the popular initiative route.
With one of the lowest debt ratios in the world, Switzerland is one of the last remaining countries with an AAA rating. The Swiss franc (CHF) has acted as a currency of refuge in economically turbulent times for decades and has gained strength in recent years (Switzerland is not a member of the EU and is not part of the Eurozone).
The Swiss (financial) infrastructure
For Family Offices it is very important to be close to solid banks, as one of the main tasks of a Family Office is to manage and control your assets. Swiss private banks have been market leaders in wealth management for decades and some of the best-capitalized banks in the world are domiciled in Switzerland.
With a highly educated, motivated, precise and multilingual workforce, Switzerland – located in the heart of Europe – is more internationally oriented than many other countries.
Switzerland offers a very attractive corporate tax system with relatively low tax rates and has signed double taxation agreements with currently 118 countries. The tax authorities are customer-friendly and operate very professionally.
The country has a reputable, trustworthy and solid legal system and is a location for first-class (financial) advisors, such as tax advisors, law firms, wealth planning specialists, notaries, audit firms, etc.
Finally, Switzerland’s infrastructure is among the best in the world for Family Offices, namely in the major cities of Geneva and Zurich. Both have excellent airports with direct international flights.
Switzerland is therefore a preferable location for a Family Office.
Swiss Family Office License(s)
In Switzerland, there is no special licensing regime for Family Offices. However, this does not automatically mean that no license is required.
Since 2020, it depends on the actual activity of the Multi-Family Office which license is required, whereby this decision is essential which Family Office is chosen.
A professional Multi-Family Office provides services in the areas of asset management and family support, but the core competence of 80-90% of all Multi-Family Office providers is the implementation of an investment strategy as an asset manager, for which a license from the Swiss Financial Market Supervisory Authority (FINMA) is required since 2020.
Only about 5-10% of all Multi-Family Offices focus on administration, controlling and supervision. These are mostly Trustees whose tasks go far beyond those of an asset manager. In such a case, the investment strategy is defined together with the family in order to commission private banks, fund managers or independent asset managers to make the desired investments. Such a Multi-Family Office acts as trustee and is responsible for ongoing oversight of proper execution, for which a specific FINMA license is required since 2020. Carey Zurich has been only the 12th company in Switzerland that received the trustee license from FINMA.
It is important for families to decide from the beginning which of the two categories of Multi-Family Office models they prefer.
Carey – Multi-Family Support & Professional Trustee
As Multi-Family Office and professional trustee, we provide a wide range of services tailored to meet your different needs from first to multi-generation entrepreneurs and business owners or beneficiaries. Beside as professional trustee administration we also offer and performance monitoring and other services like immigration and relocation support, reporting services, real estate administration, succession planning or charitable support advice.
- Professional Trustee (FINMA)
- Administration of Family Offices Affairs
- Asset performance monitoring
- Fiduciary services and risk management
- Succession Planning
- Immigration & Relocation Support
- Philanthropic services
Every solution is tailor-made and starts with a dialogue – so we look forward to meeting you!
Given the complexity of these situations, you may mandate CAREY Zurich to help manage your assets and align your family’s interests. And due to economics of scale, our Multi-Family approach allows for cost-sharing amongst our clients.