The client, their challenge
Our client, a Germany-based insurance broker with subsidiaries in Singapore, the U.S. and the Netherlands, aimed to expand their business into the Swiss market. However, Swiss regulations require that any foreign insurance broker operating within Switzerland must establish a local branch. As part of these regulatory requirements, the Swiss branch needed at least one Swiss resident authorised to sign on behalf of the branch, a role essential for ensuring compliance with local laws and enabling smooth operations.
Our solution
One of our trusted business partners was engaged to assist the client in establishing the Swiss branch and manage core accounting services. However, specific requirements, such as providing local representation and address services, fell outside the business partner’s scope, and they turned to IQ-EQ for support.
With an established branch in Zug and extensive experience in acting as directors, IQ-EQ was ideally positioned to provide a comprehensive solution that met the regulatory requirements. We set up a local post address in Zug for the client’s Swiss branch, ensuring reliable handling of correspondence. Additionally, we provided two qualified Swiss-based signatories with joint signature rights, ensuring compliance while maintaining robust operational controls. Leveraging our deep experience in supporting foreign direct investment (FDI) clients, we ensured a seamless and compliant solution tailored to the client’s needs.
The results
Through ongoing collaboration with the German headquarters, IQ-EQ has helped streamline the Swiss branch’s administrative operations. Our directorship services and expertise enabled the client to successfully apply for the required insurance licences with the Swiss regulator.
Regular discussions with the client’s head office facilitate smooth decision-making and alignment on compliance matters. Mail is reliably forwarded from the local post address in Zug, and IQ-EQ’s representatives actively participate in board meetings for the Swiss branch, ensuring consistent oversight and integration with the parent company’s objectives.
This partnership has provided the client with a robust platform for expanding into the Swiss market while fully meeting regulatory obligations.
