On 1 October 2026, the Swiss Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners (LETA) entered into force. Switzerland is introducing a central register of beneficial owners for the first time.
What changes
Until now, companies were only expected to keep an internal register of their beneficial owners. They are now required to:
- identify their beneficial owners;
- document how those owners exercise control;
- report certain information about them to a new federal register run by the Federal Office of Justice.
Who is affected
The rules are not limited to Swiss entities. Certain foreign companies with a sufficient connection to Switzerland are also covered, whether through a branch, real estate holdings or effective management in Switzerland.
What companies should do
LETA tightens requirements on governance, documentation and compliance, and responsibility sits with the companies and their governing bodies. Companies should work out which of the new obligations apply to them and make sure their internal processes are robust enough to meet the requirements within the applicable timeframes.
Source: Borel & Barbey