Switzerland has one of the most liberal and competitive economies in the world.
 

The banking industry is one of the most important sectors of the Swiss economy. The laws regulating the banking system, and particularly the banking secrecy policies, offer extensive protection for domestic as well as foreign investors.

Imports and exports of industrial products are exempt from customs and contingent restrictions. In contrast to most countries, Switzerland has custom duties that are based on weight.

Foreign nationals are permitted to conduct business in Switzerland, and are subject to the Swiss labor laws. Private persons from foreign countries who invest in Switzerland and who wish to manage a business, as well as managers of foreign companies, are generally granted a work and resident permit, particularly if high-value jobs are created. The immigration procedures to be followed and the required permit depend on whether the persons are EU nationals or citizens of a country outside the EU.

The protection of intellectual property rights is well developed in Switzerland. For internationally active companies, worldwide protection can be achieved through a single entry.

Cantonal laws govern zoning and urban planning. The Cantonal industry and trade promotion offices can provide all the relevant zoning information. Tax autonomy is vested in the Federal Government, the Cantons and the municipalities. Each Canton, consequently, has its own tax laws.

Swiss environmental protection laws, which conform largely to EU standards, and the resulting regulations, emphasize cooperation between the Federal and Cantonal Authorities and the private sector.

 

Information from Osec Uptated 2008

 

Switzerland Economic Situation